DGAP-Adhoc: Westag & Getalit AG: Sales and earnings decline moderately in H1 2013 but expectations for H2 2013 remain positive

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

22.07.2013 19:26

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Rheda-Wiedenbrück, July 22, 2013

Westag & Getalit AG: Sales and earnings decline moderately in H1 2013 but
expectations for H2 2013 remain positive

Due to weaker construction activity, which was not least attributable to
the long winter, Westag & Getalit AG reported a moderate 3.0% decline in
sales revenues to EUR 110.1 million in the first half of 2013 (previous
year: EUR 113.5 million).

The situation in our relevant export markets remained difficult, with
first-half sales down by 5.9% to EUR 23.5 million (previous year: EUR 25.0
million). Due to the stronger drop in export revenues, the export share
declined to 21.3% (previous year: 22.0%).

The long winter was a factor in the notable drop in demand reported by the
Plywood/Formwork Division, which was primarily reflected in export sales.
The Division's sales revenues fell by 16.2% to EUR 14.0 million.

By contrast, sales revenues in the Doors/Frames Division were only a
marginal 0.8% below the good level of H1 2012 and stood at EUR 55.1 million
at the half-year stage.

Sales revenues in the Laminates/Elements Division also remained unchanged
from the previous year. At EUR 37.8 million, they were up by a moderate
0.2% on the previous year.

The effect from the drop in sales was only partly offset by positive
effects on the materials side. At EUR 4.0 million, earnings before income
taxes were therefore down by 10% on the previous year. As announced in our
2012 Annual Report, the restructuring measures implemented in the
Plywood/Formwork Division still had an impact on the bottom line in the
first half of 2013. By contrast, the purchasing price situation for some
important raw materials eased.

Net profit per share for the first half of the year stood at EUR 0.49 for
the ordinary shares (previous year: EUR 0.55) and at EUR 0.55 for the
preference shares (previous year: EUR 0.61).

Outlook
The outlook remains subject to great uncertainty. This uncertainty can
primarily be felt in our neighbouring countries in Europe, where the
austerity measures have already taken effect and no significant recovery is
in sight in the near future.

What makes us optimistic is the economic trend in Germany, where we hope to
be able to continue benefiting from strong housing construction activity.
We therefore believe that, in spite of the moderate start to the year,
sales revenues for the full year 2013 may more or less reach the prior year
level.

On the earnings side, we project a satisfactory result for the fiscal year
2013, although the difficult raw materials supply situation in the
Plywood/Formwork Division and the resulting restructuring measures will
continue to affect the bottom line in the remaining course of the year.

The above press 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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