Power plant overhaul reduces Westag & Getalit turnover

05.11.2018 − 

In the third quarter, sales at Westag & Getalit AG fell by 2.7 % to €58.1m. This decline was almost exclusively due to the overhaul of the CHP plant at the Rheda-Wiedenbrück site from June to the end of October. Westag & Getalit posted the sales generated through the sale of electricity in the central division; due to the overhaul, only €0.2m was generated there in the third quarter. By contrast, sales in both divisions were slightly below the previous year's figures. The "Doors & Frames" division generated €32.4m, while the "Surfaces & Elements" division reported €25.5m.

Consolidated sales for the nine-month period thus amounted to € 76.2m, 0.7% below the previous year's figure. The 3.4 % decline in domestic sales to €132.1m was not fully offset by the 8.1 % improvement in export business to €44.1m. The export ratio increased to 25.1 % as a result of the continued improvement in foreign business. As in the first half of the year, the two divisions developed in opposite directions, with the gap narrowing somewhat compared with the first six months. While sales in the Surfaces & Elements division rose by 2.9% to €78.1m, sales in the Doors & Frames division fell by 1.1% to €95.0m. Central Services generated sales of €3.1m.

The earnings situation was adversely affected by further increases in input product and logistics costs, the overhaul of the CHP plant and the resulting repair expenses as well as consulting expenses in connection with the takeover bid submitted by Broadview Industries. As a result, earnings before taxes and profit for the period halved to €3.5m and €2.4m, respectively.

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