euro adhoc: Westag & Getalit AG
Financial Figures/Balance Sheet
2008 sales
at prior year level; Slowdown in business in Q4
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
09.02.2009
Coming in at EUR 226.2 million, sales at Westag & Getalit AG held steady at the previous year´s level (EUR 225.3 million; +0.4%). In the wake of the financial crisis, however, the economic environment deteriorated noticeably in the fourth quarter, which is why we were unable to maintain the pace of growth of the first nine months (Q4 -10.4% against previous year).
According to preliminary figures, earnings before income tax amounted to EUR 15.3 million (previous year: EUR 16.6 million). The decline in earnings is primarily attributable to a weaker-than-expected fourth quarter as well as lower other operating income. Net profit for the year 2008 benefited from Germany´s corporate income tax reform and rose from EUR 9.5 million to EUR 10.8 million.
The business trend has been increasingly subdued during the first few weeks of the new financial year. The general uncertainty resulting from the international financial crisis is having an especially adverse impact on our exports. Also, we are still feeling the effects of the extremely cold weather at the beginning of the year, which has delayed many construction projects.
All above figures are provisional and are subject to the ongoing audit of the financial statements. The final figures will probably be communicated in an ad-hoc press release on March 5, 2009.
end of announcement euro adhoc
Further inquiry note:
Felix Huisgen
Tel.: +49 (0)5242 17 5350
E-Mail: huisgen@westag-getalit.de
Branche: Building materials
ISIN: DE0007775207
WKN: 777520
Index: Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / regulated dealing