Westag & Getalit AG

euro adhoc: Westag & Getalit AG
Strong sales and earnings growth in the first quarter of 2007

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According to the Federal Statistical Office, incoming orders in the building construction sector increased by 3.5% in the first two months of 2007. Due to a sharp rise in domestic sales and strong export growth, Westag & Getalit AG clearly outperformed the market in the first quarter, with sales rising by 14.9% to EUR 54.8 million (2006: EUR 47.7 million). All three divisions of Westag & Getalit AG reported double-digit sales growth.

Export sales climbed 28.6% to EUR 13.4 million (2006: EUR 10.4 million). The export share rose to 24.4% (2006: 21.8%).

Earnings before income taxes rose by 49.1% to EUR 3.4 million in the period under review (2006: EUR 2.3 million). The excellent earnings performance is mainly attributable to the increase in sales revenues. We have not been able yet to fully pass on the rising raw materials prices to our customers in the form of increased sales prices. This will be one of the tasks we need to tackle in the remaining course of the year. Personnel expenses developed positively, not least due to the good capacity utilisation.

Net profit climbed to EUR 2.1 million (2006: EUR 1.4 million), while DVFA/SG earnings per share rose to EUR 0.38 (2006: EUR 0.25).

We are optimistic about the year 2007 and expect strong stimulation from the investments made in 2006, especially the edge processing line for doors, the new glue deck for face panels and the continuous production of laminated boards. While we know that the percentage increase in sales reported in the first three months cannot be extrapolated, we nevertheless project good growth for the full year.

In the first quarter of 2007, we had to cope with another sharp rise in raw materials prices, especially for particle boards. While our customers increasingly realise that price increases are inevitable, it will be a difficult task to raise our prices at the right time and to a sufficient extent.

Overall, we are confident, however, that we will be able to generate appropriate earnings before income taxes also in 2007.

Mr Markus Sander has been appointed to the Management Board of Westag & Getalit AG with effect from July 1, 2007. He succeeds Mr Edmund Volmer as Director of the Laminates/Elements Division. Mr Volmer, who has managed the division very successfully for almost 25 years, will retire on June 30, 2007.

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ots Originaltext: Westag & Getalit AG
Im Internet recherchierbar: http://www.presseportal.de

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:  Frankfurter Wertpapierbörse / official dealing/prime standard
              Börse Berlin-Bremen / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / official dealing

Original-Content von: Westag & Getalit AG, übermittelt durch news aktuell

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