EANS-Adhoc: Westag & Getalit AG / Dividends remain unchanged at EUR 0.94 per ordinary share and EUR 1.00 per preference share in spite of the commodity price-induced decline in earnings

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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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22.03.2012

Against the background of a positive overall trend in the German
construction sector and good export sales, Westag & Getalit AG was
able to increase its sales revenues by a pleasant 4.8% to EUR 227.1
million (2010: EUR 216.6 million). Export sales rose at a
disproportionate rate of 13.8% to EUR 48.7 million (2010: EUR 42.8
million). As a result, the export share climbed from 19.8% in the
previous year to 21.5%.

Earnings before income taxes amounted to EUR 11.8 million in 2011,
which represents a notable decline from the previous year´s EUR 15.1
million. The unsatisfactory earnings performance is mainly
attributable to dramatic increases in the prices of chipboard and
oil-based raw materials. The prices of other commodities such as wood
and paper picked up markedly as well. The sharp rise in
transportation charges and energy costs also had an adverse impact.
Net profit declined in line with earnings before taxes and reached
EUR 8.2 million (2010: EUR 10.7 million). In accordance with amended
IFRS regulations, earnings per share are stated separately for
ordinary and preference shares for the first time in 2011. EPS
amounted to EUR 1.48 per ordinary share (2010: EUR 1.92) and to EUR
1.54 per preference share (2010: EUR 1.98).

In spite of the decline in earnings, the Management Board and the
Supervisory Board will propose an unchanged dividend of EUR 0.94 per
ordinary share and of EUR 1.00 per preference share to the Annual
General Meeting, which will be held in Rheda-Wiedenbrück on August
28, 2012.

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 the
construction-related distribution units should benefit from growing
housing construction. We also project an increase in export sales.
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. The
trend in oil prices seen in the past weeks is giving cause for
concern, however. 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