Westag & Getalit AG

euro adhoc: Westag & Getalit AG
Quarterly or Semiannual Financial Statements
Difficult first quarter 2005

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The continued decline in German construction activity accelerated in early 2005. The latest figures published by the Federal Statistical Office for the building construction sector show an alarming 25.6% decline in incoming orders (January to February 2005). At EUR 40.7 million, Westag & Getalit AG first-quarter sales were down 4.1% on the previous year’s EUR 42.4 million. The weak domestic business was partly offset by exports, which increased by an impressive 12.1% to EUR 7.6 million; the export share rose to 18.6%.

The trend towards higher purchase prices of our main raw materials, which emerged in the last quarter of 2004, accelerated as expected. As a result, and due to lower sales, earnings before income taxes declined to EUR 809 thousand (2004: EUR 1,882 thousand). DVFA/SG earnings per share were down to EUR 0.09 (2004: EUR 0.20).

We are currently seeing no signs in our industry that would give cause for optimism. The continued spending restraint on the part of consumers in Germany, our main output market, is weighing on our performance. We have so far been unable to fully implement the price increases that would be required due to the higher commodity prices. Westag & Getalit AG’s results for the year 2005 will depend on the development of prices in our procurement and output markets and the development of our sales volumes. We see further growth potential mainly on the exports side as well as for our new product families, which already achieved measurable success in the first three months of the year. From today’s point of view, Westag & Getalit AG’s result for the full year is expected to remain below the excellent level of the previous year. We are nevertheless confident that we will generate reasonable earnings even in these difficult times.

end of announcement                                euro adhoc 10.05.2005 15:38:26

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 Standard, Prime All Share
Börsen:  Berliner Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Bremer Wertpapierbörse (BWB) / free trade
              Frankfurter Wertpapierbörse / official dealing

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