In the fiscal year 2016, Westag & Getalit AG increased its consolidated sales revenues by 2.8% to €
233.0 million (previous year: € 226.7 million). While domestic sales revenues rose by 1.8% to € 182.8
million (previous year: € 179.6 million), export sales picked up by a disproportionate 6.6% to € 50.2
million (previous year: € 47.1 million). The export share consequently improved from 20.8% to 21.5%.

At € 98.4 million, sales revenues of the Surfaces/Elements Division remained almost unchanged from
the previous year's € 98.2 million. While the company was not satisfied with the sales trend in Germany, the Division's export revenues climbed by 5.6% to € 28.1 million in 2016 (previous year: € 26.6 million). As a result, the export share increased from 27.1% to 28.6%.

Benefiting from the good framework conditions in the building construction sector, the Doors/Frames
Division notably improved its sales revenues in the past fiscal year. Sales revenues picked up by 5.0% to € 127.0 million in 2016 (previous year: € 120.9 million). The Division's business developed favourably
both in Germany and abroad. In 2016, export sales climbed by 7.8% to € 22.1 million (previous year: €
20.5 million). The export share thus improved to 17.4% (previous year: 17.0%).

Consolidated earnings before taxes amounted to € 10.5 million in 2016 and were hence clearly up on the previous year's € 8.6 million, with both operating divisions generating higher earnings. This positive
earnings trend was essentially achieved thanks to the increase in sales revenues and the improved cost structures. Where the increase in sales revenues is concerned, Westag & Getalit AG benefited not only from the good economic environment but above all from the optimisation of its distribution structures initiated in the previous year and the selective investments in foreign markets. Consolidated net profit developed in line with earnings before taxes and reached € 7.6 million (previous year: € 6.3 million). Earnings per share amounted to € 1.44 per preference share (previous year: € 1.20) and to € 1.38 per ordinary share (previous year: € 1.14).

The consolidated und separate financial statements for the fiscal year 2016 were approved and the
preliminary figures already published confirmed at today's meeting of the Supervisory Board. Because of the positive earnings trend, the Management Board and the Supervisory Board will propose a dividend of € 1.00 per preference share and of € 0.94 per ordinary share for the fiscal year 2016 at the Annual General Meeting on June 27, 2017. This would result in an above-average yield of close to 5% in terms of the 2016 closing prices.

Employees
As of December 31, 2016, the Group employed a total of 1,308 (previous year: 1,304) people. The total
headcount includes 61 trainees/apprentices (previous year: 63). Trainees/apprentices hence accounted for 4.7% of the total workforce in 2016.

Capital expenditures
Investments in property, plant and equipment and intangible assets amounted to € 8.0 million in the past fiscal year (previous year: € 12.3 million). Total capital expenditures thus remained below the originally planned amount due to the concentration on important large-scale projects as well as some time delays. As utilisation remained high, investments primarily focused on capacity expansion in the Doors/Frames Division. Investments in the Surfaces/Elements Division mainly focused on optimising operational processes and the existing technical equipment. The investments have laid the basis on which the company will be able to benefit from the positive conditions in Germany and abroad also in the future.

Outlook
In view of the above-mentioned forecasts for the German construction industry, which has the biggest
influence on our Doors/Frames Division, the Management Board generally expects a positive market
environment for 2017. The positive revenue projections are additionally based on the ongoing expansion of our distribution activities in the Surfaces/Elements Division. The performance of the increasingly important export markets will again be influenced by the prevailing uncertainties in 2017. In the coming months, the ECB's low-interest policy and the implications of Brexit will primarily influence the economies in our European neighbouring countries. Against this background, it is difficult to issue a precise forecast for our business performance abroad. All in all, management is, however, optimistic to be able to further increase the export activities assuming a benign economic environment.

The past year was essentially influenced by the good economic environment and the improved cost
structures. Based on the assumption that the economic environment remains favourable, the
Management Board's objective is to achieve a slight increase in sales revenues in both operating
divisions in the full fiscal year in spite of the subdued start into 2017. Depending on the development of the main expense items, the company expects earnings to reach the previous year's level in the fiscal year 2017.

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

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Westag & Getalit AG published this content on 29 March 2017 and is solely responsible for the information contained herein.
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