Westag AG — Earnings Release 2016

Feb 15, 2017

News Details

Ad-hoc | 15 February 2017 12:37

Westag & Getalit AG: Group sales revenues climb to EUR 233.0 million in 2016 Consolidated net profit grows on increased revenues and improved cost structures

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

15-Feb-2017 / 12:37 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, 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, February 15, 2017

Westag & Getalit AG generated consolidated sales revenues of EUR 233.0
million in the fiscal year 2016 (previous year: EUR 226.7 million). This
2.8% increase shows that the positive sales trend continued in spite of
moderate autumn sales. While domestic sales revenues picked up by 1.8% to
EUR 182.8 million (previous year: EUR 179.6 million), export sales
increased by a disproportionate 6.6% to EUR 50.2 million (previous year:
EUR 47.1 million).

Consolidated earnings before taxes amounted to EUR 10.5 million in the past
fiscal year (previous year: EUR 8.6 million), as the company benefited from
a positive sales trend and an improved cost structure in a good economic
environment. Consolidated net profit moved in sync with earnings before
taxes and reached EUR 7.6 million (previous year: EUR 6.3 million).

At 1,308 people, the headcount remained almost unchanged from the prior
year reporting date (1,304 people).

Following the foundation of a Russian distribution company in October 2016,
Westag & Getalit AG has prepared its first consolidated financial
statements and adjusted the prior year figures accordingly. Sales revenues
and other operating income were recognised in accordance with the new
provisions of the Bilanzrichtlinie-Umsetzungsgesetz (BilRUG - German
Accounting Directive Implementation Act) already in the course of the year.
To ensure comparability, the prior year figures were adjusted accordingly.

All above figures are provisional and are subject to the ongoing audit of
the financial statements. The final figures as well as a profit
appropriation proposal will be communicated following the adoption of the
financial statements.

The above press 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

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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, Tradegate Exchange

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