THE GENERAL MEETING OF 4iG HAS APPROVED A DIVIDEND OF HUF 29
New members have been elected to the supervisory board
- After a record year of 2021 results, the Annual General Meeting of 4iG Plc approved the payment of a dividend of HUF 29 per share.
- Shareholders elected Dr Tamás Fellegi and Dénes Jobbágy to the company’s Supervisory Board.
- The General Meeting approved the company’s individual and consolidated IFRS financial statements and the amendment of the Articles of Association.
The Annual General Meeting of 4iG Plc decided on the payment of a dividend of HUF 29 per share, which is more than 30 percent higher than the dividend of HUF 22.9 paid after the 2020 financial year (the dividend was HUF 22 based on the results of 2019). The outlook for future dividends is positive. According to the decision of the General Meeting, the company will pay a total dividend of HUF 2.99 billion on 103,207,921 ordinary shares in circulation as of 31 December 2021. The dividend is based on 4iG’s 2021 profit after tax of HUF 3.97 billion, which is more than a quarter (25.6 percent) higher than its 2020 profitability of HUF 3.16 billion.
The General Meeting of 4iG Plc also decided on personnel changes, as Zoltán Simon and András Kunosi resigned from the Supervisory Board. Upon the proposal of 4iG’s Board of Directors, the shareholders elected two new members with significant experience in telecommunications, as well as in the economic and financial world: Dr Tamás Fellegi, founding Chairman of EuroAtlantic, and Dénes Jobbágy, Chairman and CEO of Széchenyi Alapok Zrt. Dr Tamás Fellegi, former Minister of Development, has extensive experience in the fields of business, government and academia. He participated in the management of MATÁV, among others. Dénes Jobbágy has had a unique career, having led such prominent financial institutions as Eximbank, MFB and Diákhitel Zrt., and was also involved in the creation of Hungaro DigiTel, now part of the 4iG Group, and subsequently held the position of Deputy CEO of MATÁV.
4iG’s individual accounts, balance sheet and profit and loss account for 2021, as well as its consolidated balance sheet, profit and loss account, and annual accounts, were also approved by the General Meeting. At the General Meeting, the company’s auditor was re-elected and changes to the remuneration of the members of the Board of Directors and the Supervisory Board were approved. The Group’s consolidated sales revenue according to International Financial Reporting Standards (IFRS) rose to an unprecedented high of HUF 93.65 billion in 2021, up 63 percent year-on-year.
The 4iG Group is a large info-communications company that has become the number one systems integrator in the Hungarian IT sector in 2021 and a dominant telecommunications player in Hungary and the Western Balkans. The company’s business performance has improved significantly, with the Group’s EBITDA exceeding HUF 12.09 billion, 140 percent higher than in 2020.
Dr Tamás Fellegi
Dr Tamás Fellegi served as Minister in the government of Dr Viktor Orbán from 2010-2012, where he was responsible for innovation and communications technology. As Minister and Government Commissioner, he also coordinated Hungarian-Russian, Hungarian-Chinese, and Hungarian-Ukrainian bilateral relations. He also held the position of minister without portfolio in charge of negotiations with the International Monetary Fund (IMF). During the Hungarian Presidency of the Council of the European Union, he chaired the Council of EU Energy and Climate Ministers and the Council of Development and Cohesion Funds Ministers.
He is founder and President of EuroAtlantic Consulting and Investment Ltd., active in global business. In addition to his own business, Dr Tamás Fellegi is Chairman of the Supervisory Board of the Moholy-Nagy University of Art and Design (MOME). Between 1996 and 2000, he held several management positions at Matáv. He was President and CEO of the Hungary Initiative Foundations from its establishment in 2013 until 2015 and currently serves as a Board Member of the organisation. He pursued his professional activities as an external expert at the Transatlantic Academy of the German Marshall Fund from 2014-2015
Between 1981 and 1998, he continued his academic career in Hungary and the United States of America as a researcher and lecturer. He completed his law studies at the Faculty of Law and Political Science of Eötvös Loránd University and obtained his PhD in Political Sciences at the University of Connecticut. He was a grantee of the IREX Fellowship and later was granted a Senior Postdoctoral Fellowship as a Visiting Scholar at the W. Allen Wallis Institute of Political Economy (Rochester).
Dénes Jobbágy holds a degree in Electrical Engineering and a postgraduate degree in Computer Engineering from the Budapest University of Technology. He completed further studies and trainings outside Hungary at INSEAD in France, in the UK, the USA and Canada. At the beginning of his career, he worked as a software developer at the Development Institute of VIDEOTON and later as a team leader. Afterwards, he worked as a Vice President Consultant and then as Data Communications Director at Műszertechnika Holding. Between 1993 and 1995, he was CEO of Hungaro DigiTel, a greenfield Hungarian-Portuguese owned company. In 1996, he was Deputy Chief Marketing Officer of Matáv. From 1997 to 2001, he was founding CEO of the German-owned (RWE majority) greenfield Novacom. He took an active part in the liberalisation of telecommunications in Hungary and was involved in the successful bid for Vodafone Hungary, then also partly owned by RWE. From 2001 to 2002, he was Deputy Chairman of the IT Department of the State Treasury and a member of the Board of Directorsof EXIM Bank. From 2010 to 2013, he was Director of the Hungarian Development Bank, member of the Operations Committee and from 2011 to 2015, member of the Supervisory Board of the Student Loan Centre. Between 2013 and 2015, he was Chairman of the Board and CEO of the Information Technology Venture Capital Fund Management, part of the MFB Group. Since 2015, he has been CEO Advisor of EXIM Bank. Since 2017, he has been a member of the Board of Directors of Széchenyi Alapok Venture Capital Fund Management Ltd.
Budapest, 29th April 2022
communications and marketing director
peter.elkan (@) 4ig.hu