Ad-hoc | 25 October 2017 14:50

Westag & Getalit AG: Group sales revenues and earnings below prior year in the first nine months

Westag & Getalit AG / Key word(s): 9-month figures
Westag & Getalit AG: Group sales revenues and earnings below prior year in the first nine months

25-Oct-2017 / 14:50 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Westag & Getalit AG generated consolidated sales revenues of EUR 177.5 million in the first nine months of 2017. Revenues were thus down by a moderate 1.2% on the previous year (EUR 179.6 million) primarily due to the decline in domestic business. Exports again showed a positive trend during this period with revenues in the Group’s foreign markets rising by 6.5% to EUR 40.8 million (previous year: EUR 38.3 million). Consequently, the export share increased from 21.3% to 23.0%.

Sales revenues in the Doors/Frames Division came in at EUR 96.1 million in the reporting period (previous year: EUR 97.1 million). At EUR 75.9 million, revenues in the Surfaces/Elements Division remained almost unchanged from the previous year. The Central Division generated revenues of EUR 5.5 million (previous year: EUR 5.9 million).

As a result of the above, consolidated earnings before taxes came in at EUR 7.0 million (previous year: EUR 8.6 million). As reported at the six-month stage, earnings were impacted not only by the unsatisfactory revenue trend but also primarily by price increases for various inputs as well as higher budgets for sales and marketing activities. Consequently, net profit for the period declined to EUR 4.9 million (previous year: EUR 6.1 million). Net profit per share amounted to EUR 0.89 for the ordinary shares (previous year: EUR 1.10) and to EUR 0.95 for the preference shares (previous year: EUR 1.16).

Outlook
The current revenue trend and price trends in the commodities markets are key factors influencing the Group’s profitability. In view of the situation described above, the Management Board is not satisfied with the business performance in the year to date. The price increases for the company’s own products initiated in the course of the year will not be fully reflected in the result for 2017.

The Management Board expects sales revenues for the full year to more or less reach the prior year level. Taking into account the factors weighing on profitability as discussed above, consolidated earnings for the full year are expected to come in below the previous year’s level.

Given that a Russian distribution company was established at the end of 2016, Westag & Getalit AG publishes its figures on a consolidated basis. The prior year figures have been adjusted accordingly.

The above press release and further information on Westag & Getalit are available on the Internet at www.westag-getalit.com .

Contact:
Thomas Sudhoff
PR and Financial Communication
Tel.: +49 5242 / 17-5176
E-Mail: ir@westag-getalit.de

25-Oct-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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:	Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Stuttgart, Tradegate Exchange

End of Announcement DGAP News Service