Westag & Getalit : Sales revenues and earnings pick up in H1 2016 ...more

Westag & Getalit AG increased its sales revenues by 4.8% to € 179.6 million in the first nine months of 2016 (previous year: € 171.4 million). As already announced at the six-month stage, the company's export revenues again picked up disproportionately, climbing 8% from the previous year's € 35.4 million to € 38.3 million in the first nine months of 2016. Consequently, the export share rose from 20.8% to 21.5%.

Thanks to the positive sales trend resulting from the intensified distribution activities and the ongoing adjustment of the operational cost structures, the company's result improved notably in the reporting period. Earnings before taxes increased to € 8.6 million in the first nine months, up 11.5% on the € 7.7 million reported as of 30 September 2015. This trend also led to higher net profit for the period, which climbed from € 5.4 million to € 6.0 million. Net profit per share amounted to € 1.08 for the ordinary shares (previous year: € 0.97) and to € 1.14 for the preference shares (previous year: € 1.03).

Outlook

As already announced at the six-month stage, the market environment showed a good trend also in the third quarter of 2016. Forecasts suggest that the company's market environment will generally remain positive for the rest of the year. The intensified distribution efforts and the continued good demand situation in the company's relevant export markets will form the basis for the successful performance of Westag & Getalit AG.

In view of these general conditions, the Management Board projects a continued positive revenue and earnings trend for the remaining months of the fiscal year. Consequently, management expects sales revenues to increase at the same rate as in the year to date and earnings to pick up sharply in the full year 2016.

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