The profit appropriation is governed by Article 40 of the Articles of Association. The text of this article is as follows: Article 40: Profit. Distribution of reserves.
Subject to approval of the Supervisory Board, the Management Board determines every year which part of the profit available for distribution - the positive balance of the income statement - is added to the reserves.
The profit remaining after the addition to the reserves under the previous paragraph is at the disposal of the General Meeting of Shareholders.
Profit distributions are capped at the distributable part of the shareholders’ equity,
and made after adoption of the financial statements that authorise these distributions.
The Management Board may decide to distribute an interim dividend, subject to approval of the Supervisory Board and with due observance of clause 3 above and any other provision laid down by law.
The General Meeting of Shareholders may, following a proposal from the Management Board that has been approved by the Supervisory Board, resolve to make distributions to shareholders of the distributable part of the shareholders’ equity.