Westag & Getalit : Sales revenues and earnings pick up in Q1 2016 ...more

Westag & Getalit AG increased its sales revenues by an impressive 7.3% to € 59.9 million in the first quarter of 2016 (previous year: € 55.8 million). The company primarily benefited from the good business climate in the housing construction sector at the beginning of the year. The company's export business also showed a positive trend. Export sales increased by 11.7% to € 12.5 million in the reporting period (previous year: € 11.2 million). As a result, the export share climbed to 20.8% (previous year: 20.0%).

Westag & Getalit AG's earnings also showed a positive trend in the reporting period. Earnings before taxes (EBT) climbed from € 2.5 million in 2015 to € 2.6 million as of March 31, 2016. Moving in sync with EBT, net profit for the period increased by 5.1% from € 1.7 million to € 1.8 million. Net profit per share amounted to € 0.31 for the ordinary shares (previous year: € 0.29) and to € 0.37 for the preference shares (previous year: € 0.35).

In spite of the positive developments at the beginning of the year, the outlook for the coming months remains difficult. The Management Board assumes that the company will continue to benefit from the positive trend in the German construction sector. Based on current estimates, the relevant export markets will generally also show a positive trend. This expectation is supported by the intensified distribution activities abroad and the product portfolios customised to the individual markets.

Against this background, the Management Board projects a moderate increase in sales revenues and earnings for 2016 based on the assumption that the economic environment will remain unchanged.

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