Westag & Getalit AG / Key word(s): Final Results 20.03.2014 16:45 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Due to moderate demand from European markets, Westag & Getalit AG posted slightly lower sales revenues of EUR 224.2 million in the past fiscal year, which represents a 1.4% decline from the previous year's EUR 227.4 million. The drop in total sales revenues is primarily attributable to low demand in the export markets, where the company generated revenues of EUR 46.2 million in the past year, down 5.5% on the previous year (EUR 48.9 million). Accordingly, the export share fell to 20.6% (previous year: 21.5%). At EUR 9.1 million, earnings before taxes were down by 15.7% on the previous year's EUR 10.8 million. This decline is mainly due to the lower sales revenues as well as to the required structural measures and the increasing competitive pressure in the sector, which had an adverse impact on margins. Net profit declined in sync with earnings before taxes and amounted to EUR 6.4 million, compared to EUR 7.5 million in the previous year. Earnings per ordinary share came in at EUR 1.16, while earnings per preference share reached EUR 1.22 in 2013. At today's meeting, the Supervisory Board of Westag & Getalit AG approved the financial statements for the fiscal year 2013. Against the background of a generally optimistic outlook on the future, the Management Board and the Supervisory Board will propose an unchanged dividend of EUR 1.00 per preference share and of EUR 0.94 per ordinary share to the Annual General Meeting, which will be held in Rheda-Wiedenbrück on August 26, 2014. This means that the company will stick to its solid payout policy in spite of the lower result. Based on the closing price of December 30, 2013, the dividend yield would thus amount to 5.8% and 5.4%, respectively. Outlook This economic background makes us expect moderately growing sales revenues in 2014. In Germany, this growth will be supported primarily by the housing construction sector and, additionally, by the slowly recovering public and commercial building construction sector. Our products and our manufacturing facilities are ready to meet growing demand in order to serve the markets as required, which should be reflected in our 2014 sales revenues. The current framework makes it difficult to project our export business. The new partners for our export business are a positive sign, demonstrating that our product portfolio is well positioned. This should enable us to increase our export sales in the medium term once the local economies pick up again. Our earnings in 2014 will be depend not only on sales revenues but also on an improvement in our margins, which have come under pressure lately, and on the success of the integration of the Plywood/Formwork Division and the Laminates/Elements Division. Based on a stable economic trend and the resulting moderate increase in sales revenues, the success of the divisional integration achieved to date also makes us optimistic that we will be able to grow our earnings. We are therefore targeting strong earnings growth in 2014. The above press release and further information on Westag & Getalit are available on the Internet at www.westag-getalit.de. Contact: Thomas Sudhoff PR and Financial Communication Tel.: +49 5242 / 17-5176 E-Mail: [email protected] 20.03.2014 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Westag & Getalit AG Hellweg 15 33378 Rheda-Wiedenbrück Germany Phone: +49 (0)5242 17 - 0 Fax: +49 (0)5242 17 - 5603 E-mail: [email protected] Internet: www.westag-getalit.de ISIN: DE0007775207, DE0007775231 WKN: 777520, 777523 Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------