The first nine months of the financial year saw Westag & Getalit AG generate sales revenues of € 170.1 million. While this was still 0.3 % down on the prior year's period (€ 170.6 million), it is mainly a reflection of the weaker first quarter. Export sales developed very encouragingly during the nine-month period, rising by 3.8 % to € 35.4 million (previous year: € 34.2 million) despite the significant slump in Russia. The export ratio consequently climbed from 20.0 % to 20.8 %.

Sales revenues in the Doors/Frames Division during the first nine months came in at € 90.1 million, remaining almost unchanged from the prior-year figure of € 90.0 million.

The Surfaces/Elements Division contributed € 75.2 million to the nine-month sales figure, which was marginally below the prior-year figure (€ 75.3 million).

As already reported at the half-year stage, total sales revenues were adversely affected by external revenues from the co-generation plant coming in lower due to downtimes necessitates by routine maintenance work being brought forward.

The company's earnings performance during the first nine months was satisfactory. At € 7.7 million, earnings before taxes were up 0.4 % on the prior year period. This trend was mirrored in net profit which also increased by 0.4% % to € 5.4 million. At the end of the nine-month period, net profit per ordinary share and preference share stands at € 0.97 and € 1.03, respectively.

Outlook:

The economic environment looks positive overall, even though trading conditions in certain regions are bound to suffer from the political uncertainties around the globe. It remains to be seen to what extent European housing construction will be driven in the medium term by demographic changes through immigration from crisis regions. Encouraging factors include the strong situation in domestic housing construction as well as the slowly recovering activity in public and commercial construction. This is also reflected in Westag & Getalit AG's order book which suggests a positive and improved revenues and earnings trend for the fourth quarter compared to the prior year.

Management therefore continues to expect a slight rise in both sales and earnings.

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


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