DGAP-Adhoc: Westag & Getalit AG: Positive sales performance in Q3 2013

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

25.10.2013 10:55

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

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Rheda-Wiedenbrück, October 25, 2013

Westag & Getalit AG: Positive sales performance in Q3 2013

Following on from the subdued start to the year, the third quarter of 2013
saw Westag & Getalit AG benefit from the sound economic environment in
Germany. Sales for the quarter were up slightly on the prior year and
compensated at least partly for the somewhat weaker sales in the first
months of the year. This means that at the nine-month stage, sales revenues
stand at EUR 168.6 million, which is a little lower than in the prior-year
period (EUR 170.9 million).

Against the background of the uncertain economic outlook for our European
target markets, the export situation remains challenging. Export sales
continued to decline by a significant 6.2% to EUR 34.8 million (previous
year: EUR 37.1 million) during the reporting period which saw the export
share diminishing from 21.7% to 20.6%. In contrast, domestic sales showed a
stable trend during the same period.

The sales revenues of our Plywood/Formwork Division for the first nine
months of the year came in at EUR 22.1 million, down by a significant 13.2%
on the prior year. Apart from the weather impact on business during the
early months of the year, the weakness in export sales played a particular
role here.

In contrast, the Doors/Frames Division reported a slight 0.9% year-on-year
rise in sales to EUR 85.0 million, as business continued to benefit from
strong house building activity as well as its attractive portfolio of
products.

Another increase in nine-month sales was contributed by the
Laminates/Elements Division where sales were up slightly by 0.8% to EUR
56.5 million compared to the previous year.

At EUR 6.7 million, earnings before taxes for the first three quarters
continue to fall short of the prior-year performance (EUR 7.3 million). The
restructuring charges in the Plywood/Formwork Division were compensated for
by a lower cost of materials ratio. Net profit after taxes for the first
nine months consequently declined to EUR 4.7 million (previous year: EUR
5.1 million). Net profit per share for the first nine months stood at EUR
0.84 for the ordinary shares (previous year: EUR 0.92) and at EUR 0.90 for
the preference shares (previous year: EUR 0.98).

As reported for the preceding quarters, the outlook continues to be
characterised by the persisting uncertainties in the economic environment.
These mainly affect the situation in our neighbouring European countries
where consumer spending remains subdued. Based on the expectation of a
stable domestic economy particularly in respect of residential
construction, we envisage reporting 2013 sales at approximately the prior
year's level.

On the earnings side, the remaining months of 2013 will continue to reflect
the impact of the restructuring measures in the Plywood/Formwork Division.
While the operating performance has stabilised further in recent months,
certain elements of the reorientation continue to affect the sales and
earnings performance. Add to this the expectation of a renewed rise in
commodities prices during the fourth quarter, which will be one of the
factors influencing our 2013 earnings. We nevertheless continue to work
towards a positive pre-tax profit margin of between 4 and 5% for the full
year 2013.

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

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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: Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard);
Freiverkehr in Berlin, Hamburg, Stuttgart

End of Announcement DGAP News-Service

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