Westag & Getalit AG

euro adhoc: Westag & Getalit AG
Financial Figures/Balance Sheet
Sales growth in 2005 supported by higher exports; Proposed dividend on par with previous year

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As the recessive trend in the German construction sector continued in 2005 (incoming orders in the building construction sector down 3.6%), Westag & Getalit AG still managed to increase its sales to EUR 173.4 million (+3.6%). The increase was mainly supported by exports which grew by 25.7% to EUR 35.5 million, with all three divisions making strong contributions. The result before income taxes in the last fiscal year was EUR 8.6 million (previous year EUR 9.7 million). The increase in the prices of our raw materials, above all particle boards and oil-based chemicals, was several times higher than the eventual earnings decrease. Regrettably, we were able to adjust sales prices only in some segments and with a certain delay. The sales growth and a lower staff cost ratio had a positive effect, though. The net income for the year was EUR 5.2 million (previous year EUR 5.9 million). DVFA/SG earnings per share were EUR 0.96 (previous year EUR 1.00).  The company’s Supervisory Board approved the financial statements for fiscal 2005 at today’s meeting. Following the Management Board‘s decision to allocate EUR 2.4 million to the company’s revenue reserves, the Management Board and the Supervisory Board of Westag & Getalit AG will propose to the Annual General Meeting, which will take place on August 8, 2006 in Rheda-Wiedenbrück, to pay out an unchanged dividend of EUR 0.48 per ordinary share and EUR 0.54 per preference share. At the Supervisory Board meeting, former Vice Chairman Hubert Stretz, was elected new Chairman of the Supervisory Board. He succeeds Mr Hans Georg Ahrens, who died in October 2005. Mr Klaus Pampel was elected new Vice Chairman of the Supervisory Board. Our projections for 2006 include a slight sales growth which we will achieve if the construction volume stabilises on the current level. Stronger momentum is expected on the export side which we continue to develop systematically. We will be able to manage the expected total sales growth with the same headcount as in 2005. This expectation is supported by a new working time model designed to increase the average weekly working time from 35 to 38 hours without pay compensation; this new model was instituted on January 1, 2006. Unfortunately, the purchase prices for our raw materials have started to rise again and this trend is set to continue. As in the previous year, it will again be difficult to pass this increase on to our customers by means of higher selling prices. This is why our 2006 results will depend both on our capacity utilisation during the year and on price trends in the sales and procurement markets.

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ots Originaltext: Westag & Getalit AG
Im Internet recherchierbar: http://www.presseportal.de

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:  Frankfurter Wertpapierbörse / official dealing/prime standard
              Börse Berlin-Bremen / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade

Weitere Meldungen: Westag & Getalit AG

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