EANS-Adhoc: Westag & Getalit AG Moderate revenue and earnings growth in Q1 2012
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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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25.04.2012
Against the background of a continued positive trend in German construction
activity, Westag & Getalit AG increased its sales revenues by 3.1% to EUR 57.4
million in the first three months of 2012 (2011: EUR 55.7 million). In the first
quarter, the situation in foreign markets remained difficult as most of them
continue to feel the impact of the economic crisis. Accordingly, our export
sales declined by 4.2% to EUR 12.4 million (2011: EUR 12.9 million). As a
result, the export share dropped to 21.6% (2011: 23.2%).
At EUR 2,342 thousand, earnings before income taxes were up by 2.6% on the
previous year's EUR 2,283 thousand. Besides the increase in sales revenues, this
was also attributable to the stabilisation in commodity prices in the first
quarter. Net profit per share remained unchanged at EUR 0.27 (ordinary share)
and EUR 0.33 (preference share), respectively.
We are generally optimistic about economic activity in Germany, and especially
in the German construction sector. The domestic economy has given impressive
proof of its resilience in 2010 and 2011. The construction sector additionally
benefits from a clear trend towards selective investments in housing properties.
While this means that the economic preconditions are positive, we are well aware
of the fact that the risk situation may change at any time if the financial
crisis intensifies. Based on these positive economic assumptions, we expect
domestic sales revenues to increase. Especially our construction-related
distribution units should benefit from growing housing construction. We also
project an increase in export sales for the next two years. Most recently, we
demonstrated that we can operate successfully even under very difficult export
market conditions - and there are sufficient opportunities and projects which
suggest that we will be able to do so in future. Our bottom line is influenced
not only by sales revenues but also by the trend in commodity prices, which are
currently sending more positive signals, following the very unpleasant trend in
2010 and 2011. Indicators point to a stabilisation in the prices of the most
important commodities. As we have been able to pass on only part of the huge
material price increases to our customers, we will be forced to hold further
price talks with our customers. Should these positive effects materialise, we
will be able to restore our profitability to past levels
Further inquiry note:
Felix Huisgen
Tel.: +49 (0)5242 17 5350
E-Mail: huisgen@westag-getalit.de
end of announcement euro adhoc
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issuer: Westag & Getalit AG
Hellweg 15
D-33378 Rheda-Wiedenbrück
phone: +49 (0)5242 17 0
FAX: +49 (0)5242 17 75000
mail: ir@westag-getalit.de
WWW: http://www.westag-getalit.de
sector: Building materials
ISIN: DE0007775207, DE0007775231
indexes: Prime All Share
stockmarkets: free trade: Berlin, Stuttgart, regulated dealing: Düsseldorf,
regulated dealing/prime standard: Frankfurt
language: English