All Stories
Follow
Subscribe to Westag & Getalit AG

Westag & Getalit AG

euro adhoc: Westag & Getalit AG
Annual Reports
- Strong increase in earnings on moderate sales growth - Proposed dividend of EUR 0.48 per ordinary share and EUR 0.54 per preference share

Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
17.03.2005
Although incoming orders in the building construction sector, which
are an important business indicator for Westag & Getalit AG, declined
by another 6.3% in 2004 according to the Federal Statistical Office,
our company increased its sales by 2.8% to EUR 167.4 million
(previous year: EUR 162.8 million). Export sales rose by a gratifying
9.0% from EUR 25.4 million to EUR 27.6 million. The export share
climbed from the previous year’s 15.6% to 16.5%.
The result before income taxes increased noticeably from the previous
year’s EUR 3.4 million to EUR 9.3 million. Net income for the year
reached EUR 5.8 million (previous year: EUR 1.8 million). DVFA/SG
earnings per share rose from EUR 0.32 in 2003 to EUR 1.04. The
increase in earnings is attributable to the fact that sustainable
reductions in many relevant expense items coincided with a moderate
rise in sales volumes. In contrast to these positive effects,
increases in the prices of several important raw materials such as
phenol and particle boards had an adverse impact on the cost of
materials ratio. In particular, the sharp increase in the prices of
particle boards is expected to weigh on margin the current fiscal
year.
The company’s Supervisory Board approved the financial statements for
fiscal 2004 at today’s meeting. Now that Management Board has decided
to increase the company’s revenue reserves by EUR 2.8 million, the
Supervisory Board and the Management Board of Westag & Getalit AG
will propose to the Annual General Meeting to pay out a dividend of
EUR 0.48 per ordinary share (previous year: EUR 0.28) and of EUR 0.54
per preference share (previous year: EUR 0.34).
Projections for the German construction sector do not see any signs
of a recovery in 2005. We therefore assume that there will be only
limited growth opportunities in Germany. With regard to exports,
however, we expect to expand our position due to growth in some
selected key markets. The procurement market will require great
attention also in 2005. Due to fierce competition, increases in raw
materials prices can be passed on to our customers only with a
certain delay and not to the extent that would actually be required.
While it will therefore be difficult to repeat the positive results
of FY 2004 in 2005, we are confident that we will generate
appropriate earnings also in these challenging times. However, we
will not concentrate our efforts exclusively on the current year but
pursue a medium to long-term strategy.
end of announcement                    euro adhoc 17.03.2005 09:56:47 

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 Standard, Prime All Share
Börsen: Berliner Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bremer Wertpapierbörse (BWB) / free trade
Frankfurter Wertpapierbörse / official dealing

Original content of: Westag & Getalit AG, transmitted by news aktuell

More stories: Westag & Getalit AG
More stories: Westag & Getalit AG