euro adhoc: Westag & Getalit AG
quarterly or semiannual financial statement /
Earnings before income taxes up 18.2% in Q1; Corporate tax reform has positive
effect
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
28.04.2008
Although expectations for the construction sector were moderate at the end of 2007, construction activity was somewhat more positive again in the first quarter. Against this background, Westag & Getalit AG increased its sales by 5.3% to EUR 57.7 million in the first quarter (2007: EUR 54.8 million). Export sales climbed by a disproportionate 12.0% to EUR 15.0 million (2007: EUR 13.4 million). The export share rose to 26.0% (2007: 24.4%).
The sales-induced increase in the performance allowed us to boost earnings before income taxes by 18.2% to EUR 4.0 million (2007: EUR 3.4 million). As a result of the corporate tax reform and the reduced corporate income tax rate, net profit for the year rose by a disproportionate 33.5% to EUR 2.8 million (2007: EUR 2.1 million). At the same time, net profit per share increased to EUR 0.49 (2007: EUR 0.37).
We expect the positive situation in our sector to continue. Thanks to a comprehensive product portfolio, a strong export drive and our strength in the contract sector, we see more growth opportunities also for the rest of 2008. Our earnings position is strongly influenced by the trend in commodity prices. The strong increase seen in the past two years has led to a higher cost of raw materials ratio. Going forward, the trend in commodity prices will remain a critical factor for our earnings performance. Our growing internationalisation, new interesting products and product variants and the acceptance of our products and services by our customers make us optimistic, also about our future earnings performance in 2008. The greatly reduced corporate income tax rates resulting from the corporate tax reform will additionally have a positive effect on profit after taxes.
end of announcement euro adhoc
Further inquiry note:
Felix Huisgen
Tel.: +49 (0)5242 17 5350
E-Mail: huisgen@westag-getalit.de
Branche: Building materials
ISIN: DE0007775207
WKN: 777520
Index: Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / regulated dealing