Plastic Pipe Manufacturers Improve Sales and Results

The Wavin Group, Europe’s leading supplier of plastic pipe systems and solutions, reports a significant growth of sales and operational results in 2005:

• Net sales increased 30% to EUR 1,331 million (11% excl. acquisitions)
• EBITDA before incidentals 163 million, up 51%
• Operational result improved 62% to EUR 114.9 million
• Net profit EUR 53 million (2004 : EUR 47 million)
• Operating cash flow EUR 147 million (2004: EUR 80 million)
• Further growth in operational results expected in 2006

Statement from Philip Houben, President and CEO

“The year in which Wavin celebrated its 50th anniversary certainly proved to be a watershed year. It was marked by the large acquisition of Hepworth, a completely new ownership structure and a substantial refinancing. We are proud to report that in spite of those time and energy consuming projects, the business continued to do well in 2005, building on the solid performance that was already visible in 2004. The improved results were fuelled by virtually all Wavin countries. We have been helped by a construction market in Western Europe that has picked up to a moderate pace of growth, and plastic pipe systems again outperformed general construction statistics due to further substitution of alternative materials. Wavin has also been able to reap the benefits of its good position in the higher growth markets of Central and Eastern Europe.”