EANS-Adhoc: Westag & Getalit AG
Difficult business conditions in the first
half of 2009; Earnings before income taxes at EUR 4.3 million
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------
quarterly report
28.07.2009
Against the background of the very weak economic environment in Europe and the 19.9% decline in incoming orders in the German building construction sector (source: Federal Statistical Office, January to May 2009), Westag & Getalit AG reported a decline in sales. At EUR 97.2 million, sales revenues in the first half of 2009 were down by 16.5% on the previous year´s EUR 116.3 million. Our foreign operations were hit particularly hard, with sales dropping by 34.3% to EUR 19.2 million (2008: EUR 29.3 million). The export share declined to 19.8% in the first six months of 2009.
Earnings before income taxes amounted to EUR 4.3 million (2008: EUR 8.1 million) in the first six months of 2009. The decline is mainly attributable to the much lower sales revenues. A number of cost-cutting measures helped to partly offset the negative effects of the drop in sales. Earnings per share amounted to EUR 0.53 EUR (2008: EUR 0.99).
We expect the economy to remain weak in the second half of the year both in Germany and abroad. In view of the measures taken, we are optimistic that we will be able to continue to generate stable, positive results. Once the markets recover, we will be able to return to growth thanks to our broad product range, our state-of-the-art production facilities and our motivated workforce.
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Felix Huisgen
Tel.: +49 (0)5242 17 5350
E-Mail: huisgen@westag-getalit.de
Branche: Building materials
ISIN: DE0007775207
WKN: 777520
Index: Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Stuttgart / free trade
Düsseldorf / regulated dealing
Original content of: Westag & Getalit AG, transmitted by news aktuell