Today, Westag & Getalit AG held its Ordinary Annual General Meeting in the A2 Forum in Rheda-Wiedenbrück. This year again, the meeting was well attended with more than 300 participants. In each case proposals of the Board on the individual agenda items were adopted with very clear majorities by the shareholders attending the Meeting. For the previous financial year 2014 today's Annual General Meeting decided to pay an unchanged dividend of € 0,94 € per ordinary share and € 1,00 per preference share compared to the previous year.

Furthermore, Mr. Klaus Pampel was re-elected to the Supervisory Board by the Annual General Meeting for a four years term.

Business development

Mr. Bernhard Wenninger, Spokesman of the Executive Board, presented in his speech the key figures of the past financial year and provided the Meeting with a comprehensive overview of the business situation for 2014. Subsequently, Mr. Wilhelm Beckers, Chairman of the Executive Board, outlined in his presentation to the stockholders attending the Meeting the figures for the first half of 2015, combined with a preview of the next months of the year. He reported a positive development in earnings within the first six months. Despite the moderate decline in sales revenues, earnings before taxes increased thanks to the improved cost structure. At € 5.1 million, first-half earnings were up by 5.7% on the previous year's € 4.8 million. Accordingly, net profit for the period also showed a positive trend and climbed from € 3.4 million in the previous year to € 3.6 million. Net profit for the period per share amounted to € 0.63 for the ordinary shares and to € 0.69 for the preference shares. Sales revenues in the reporting period amounted to € 111.6 million and were thus down by a moderate 0.7% on the previous year's € 112.4 million.

Outlook:

After the first six months of 2015, the macroeconomic background suggests that the market environment will generally be positive but should continue to be seen in a differentiated manner. The good situation in

the domestic housing construction sector and the slowly recovering public and commercial construction sector give cause for optimism.

The investment projects realised in the past and the intensive efforts made in the context of a marketing offensive remain the basis on which the company expects to generate growing revenues in Germany and abroad if permitted by the prevailing market situation.

The result for 2015 will continue to be positively influenced by the organisational, cost-cutting and sales-enhancing measures taken in the past. Management therefore expects both sales revenues and earnings to increase moderately. It remains to be seen, however, if the stable trend in the domestic economy seen in the first half of the year will continue and if the difficult international environment of the past years will deteriorate further.

Appointment of a new Executive Board member

The General Meeting was directly followed by a constitutive meeting of the Supervisory Board in the afternoon. The Board elected Mr. Pedro Holzinger as its Chairman and Mr. Klaus Pampel as his Vice Chairman.

The Supervisory Board furthermore appointed Mr. Christopher Stenzel (49) as member of the Executive Board with effect of November 1, 2015. Throughout his previous, long-term professional activity Mr. Christopher Stenzel was Director of Finance of a renowned German kitchen manufacturer. By this he - as a branch-related expert - contributes both profound experience and in-depth knowledge to the company in order to continuously develop the future-orientated strategy of Westag & Getalit AG in cooperation with his Executive Board colleagues.

In his new function as Chief Financial Officer / CFO he will in future assume responsibility for the central units Finance, Controlling, Human Resources, Legal department and IT department. In this sector he becomes the successor of Mr. Bernhard Wenninger who resigns from his Executive Board position with effect of December 31, 2015 as per press release of June 23, 2015.

The above press release and further information on Westag & Getalit are available on the Internet at www.westag-getalit.de.


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