EANS-Adhoc: Westag & Getalit AG
2009 sales down 11 percent on prior year; Only
a slight decline in earnings before income tax thanks to cost saving measures
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.
11.02.2010
Westag & Getalit AG incurred a significant contraction of sales by 11.0 percent to EUR 201.4 million in the challenging environment of 2009, a year marked by the impact of the international financial and economic crisis. Business came under strong pressure particularly in our export markets.
Earnings before income tax showed resilience against this background, coming in at EUR 14.9 million, which was only slightly below the prior-year figure (EUR 15.3 million). This means that profits declined only at a clearly disproportionate rate compared to sales, mainly reflecting the successful implementation of numerous cost saving measures which had an increasingly positive impact on earnings during the period. Net profit for the year, at EUR 10.5 million, was only just down on the previous year (EUR 10.8 million) as well.
The start to the new year has been subdued. Sales in the first weeks of the year have been below the prior-year´s level, partly reflecting the challenging weather conditions.
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 release on March 18, 2010.
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: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Stuttgart / free trade
Düsseldorf / regulated dealing