EANS-Adhoc: Westag & Getalit AG
Slow first quarter 2009
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.
3-month report
28.04.2009
The economic environment deteriorated markedly in the first quarter of 2009. According to the Federal Statistical Office, incoming orders in the building construction sector dropped by 27.4%. Against this background, Westag & Getalit AG also reported a decline in sales, which were down 12.9% on the prior-year quarter to EUR 50.2 million (2008: EUR 57.7 million). Export sales were under extreme pressure and fell by 34.0% to EUR 9.9 million. Accordingly, the export share declined to 19.7% in the first quarter.
Earnings before income taxes amounted to EUR 1.8 million in the first quarter (2008: EUR 4.0 million). The reduction in earnings was mainly attributable to the negative sales trend. Lower raw materials prices brought some relief on the procurement side. Earnings per share declined to EUR 0.22 (2008: EUR 0.49).
We believe that the economic downturn will continue in 2009 - and maybe even intensify - both in Germany and abroad. This is the main risk to which our company will be exposed. In view of the measures taken, we are optimistic that we will be able to continue to generate positive results. While the timing of a recovery is still uncertain, it will clearly benefit us disproportionately thanks to our broad product range, our state-of-the-art production facilities and our extremely motivated workforce.
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