Westag & Getalit AG / Key word(s): Dividend 24.03.2015 15:54 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- The annual financial statements for the year 2014 were approved and the previously published preliminary figures confirmed at today's Supervisory Board meeting. Westag & Getalit AG reported a moderate decline in sales revenues and earnings in the past fiscal year. At EUR 223.1 million, sales revenues were down by 0.5% on the previous year's EUR 224.2 million. This primarily reflects the strong influence of the weak final quarter of 2014, in which revenues were down by 5.5% on the same period of the previous year. Falling by 7.2% in the last three months of the year, export sales had a particularly adverse impact, not least due to the declining business with Russia. Export sales for the full year were down by 3.2% to EUR 44.7 million (previous year: EUR 46.2 million). By contrast, domestic revenues increased moderately. Earnings before taxes amounted to EUR 8.9 million in the past fiscal year (previous year: EUR 9.1 million). The moderate 2.8% decline is attributable to the reduction in revenues in the final quarter. Net profit moved in sync with earnings before taxes and came in at EUR 6.4 million. Earnings per share thus amounted to EUR 1.15 (previous year: EUR 1.16) per ordinary share and EUR 1.21 (previous year: EUR 1.22) per preference share. In spite of the reduced net profit, the Management Board and the Supervisory Board of the company will propose an unchanged dividend of EUR 0.94 per ordinary share and of EUR 1.00 per preference share to the Annual General Meeting scheduled for August 18, 2015. This is equivalent to a dividend yield of over 5%. Outlook The economic background suggests that the market environment in 2015 will be difficult, although the company is seeing positive signs for the future. Optimism is primarily fuelled by continued strong housing construction activity but also by the slowly recovering public and commercial construction sector. In view of the current environment, the export outlook is somewhat more moderate. While the European economy as a whole is generally likely to stabilise, a further slowdown in the Russian economy may have an adverse impact on some regions and industries and, hence, on the company's exports. The investment projects have laid the basis for new growth segments in Germany and abroad, which will lead to rising sales in the context of a distribution offensive. The appointment of industry insider Franz David as new Management Board member in charge of the Surfaces/Elements Division is expected to stimulate sales going forward as well. Our earnings forecast for 2015 is subject not only to sales revenues but also to raw materials prices, which are influenced, among other things, by oil-based chemicals. The demand situation in the company's export markets poses a risk to earnings, too. Assuming a stable economic trend, in conjunction with the planned distribution offensive and strict cost management, the conditions are in place, however, for future earnings growth. Against this background, the company projects a moderate increase in sales revenues and earnings for 2015.. The above 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] 24.03.2015 The DGAP 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: Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------