Westag AG — Earnings Release 2015

Jul 24, 2015

News Details

Ad-hoc | 24 July 2015 14:28

Westag & Getalit AG: Earnings up 5.7% on previous year despite moderate drop in sales revenues

Westag & Getalit AG / Key word(s): Half Year Results

24.07.2015 14:28

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Rheda-Wiedenbrück, July 24, 2015

Westag & Getalit AG generated sales revenues of EUR 111.6 million in the
first six months of the year. First-half revenues were thus down by a
moderate 0.7% on the previous year's EUR 112.4 million. In view of the
continued difficult economic situation in some of the company's relevant
export markets, the moderate 1.3% increase in export sales to EUR 23.3
million is good news. As a result, the export ratio rose to 20.8% (previous
year: 20.4%).

The Doors/Frames Division generated sales revenues of EUR 58.5 million in
the first half of the year, which is only marginally below the previous
year's good figure of EUR 58.6 million.

At EUR 50.1 million, sales revenues in the Surfaces/Elements Division were
down by a moderate 0.5% on the previous year's EUR 50.3 million.

External revenues generated by the co-generation plant were EUR 0.4 million
lower than in the previous year due to unplanned repair work in the first
half of the year and the resulting downtimes.

Despite the moderate decline in sales revenues, earnings before taxes
increased thanks to the improved cost structure. At EUR 5.1 million,
first-half earnings were up by 5.7% on the previous year's EUR 4.8 million.
Accordingly, net profit for the period also showed a positive trend and
climbed from EUR 3.4 million in the previous year to EUR 3.6 million. Net
profit for the period per share amounted to EUR 0.63 for the ordinary
shares and to EUR 0.69 for the preference shares.

The company plans to invest over EUR 13 million in the current fiscal year,
with the main focus on selective capacity expansions in the context of the
modernisation strategy, which will be pushed ahead further this year. The
Doors/Frames Division will not only extend its production halls but also
plans to invest in a new frames production line. This multi-year investment
project involves advance payments for plants which will be installed only
in 2016. In the context of the expansion of the Surface/Elements Division,
the company plans to invest in a new processing plant for cut-to-size
worktops at the Wadersloh plant. The company is thus responding to current
market requirements.

After the first six months of 2015, the macroeconomic background suggests
that the market environment will generally be positive but should continue
to be seen in a differentiated manner. The good situation in the domestic
housing construction sector and the slowly recovering public and commercial
construction sector give cause for optimism. The investment projects
realised in the past and the intensive efforts made in the context of a
marketing offensive remain the basis on which the company expects to
generate growing revenues in Germany and abroad if permitted by the
prevailing market situation.

The result for 2015 will continue to be positively influenced by the
organisational, cost-cutting and sales-enhancing measures taken in the
past. Management therefore expects both sales revenues and earnings to
increase moderately. It remains to be seen, however, if the stable trend in
the domestic economy seen in the first half of the year will continue and
if the difficult international environment of the past years will
deteriorate further.

The above release and further information on Westag & Getalit are available
on the Internet at www.westag-getalit.de.

Contact:
Thomas Sudhoff
PR and Financial Communication
Tel.: +49 5242 / 17-5176
E-Mail: ir@westag-getalit.de

24.07.2015 The DGAP Distribution Services include Regulatory Announcements,
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Language: English
Company: Westag & Getalit AG
Hellweg 15
33378 Rheda-Wiedenbrück
Germany
Phone: +49 (0)5242 17 - 0
Fax: +49 (0)5242 17 - 5603
E-mail: zentral@westag-getalit.de
Internet: www.westag-getalit.de
ISIN: DE0007775207, DE0007775231
WKN: 777520, 777523
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Hamburg, Stuttgart

End of Announcement DGAP News-Service

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