EANS-Adhoc: Westag & Getalit AG Deteriorating economic environment leading to
a slight decline in sales revenues and weighing on earnings in the first nine
months of 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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26.10.2012
In recent months Westag & Getalit AG has come to feel the deterioration in the
general economic situation. Owing to the more challenging trading conditions,
nine-month sales came in at EUR 170.9 million, which was 1.2% lower than in the
prior-year period (2011: EUR 173.0 million). Our export business was
particularly affected by this trend, with nine-month sales down by 2.1% to EUR
37.1 million (2011: EUR 37.9 million). This development highlights the
increasingly challenging operating conditions in the relevant target markets. As
a result, our export ratio declined from 21.9% to 21.7% during the reporting
period.
The adverse trend is also reflected in nine-month earnings before income taxes
which are down by 18% on the prior-year period at EUR 7.3 million. The reasons
include, on the one hand, the deteriorated sales situation. Moreover, cumulated
earnings continue to suffer from the effects of the inferior quality of certain
raw materials; our damage claims against the suppliers are not yet included in
the accounts. Net profit after taxes for the first nine months consequently
declined to EUR 5.1 million (2011: EUR 6.3 million). Net profit per share for
the first nine months amounted to EUR 0.92 for the ordinary shares (2011: EUR
1.12) and to EUR 0.98 for the preference shares (2011: EUR 1.18).
The first signs of a weakening in the German economy have become apparent since
the last report on the first six months 2012. As expected, the situation in the
international markets has remained weak and there is no improvement in sight.
Given the ongoing deterioration in trading conditions, a full-year 2012 sales
figure on par with the previous year would be considered a positive outcome.
In view of the more challenging economic environment in Germany and in the
relevant international markets, management expects earnings before tax to come
in below the previous year's level.
Further inquiry note:
Thomas Sudhoff
PR und Finanzkommunikation
Tel.: +49(0) 5242 175176
Email: sudhoff@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: CDAX, Classic All Share, Prime All Share
stockmarkets: free trade: Berlin, Stuttgart, regulated dealing: Düsseldorf,
regulated dealing/prime standard: Frankfurt
language: English