Zwolle, 28 October 2010 – Wavin, Europe’s leading supplier of plastic pipe systems and solutions, today provides an update on its trading performance in Q3.
Summary Q3
• Revenue EUR 346 million, 8.0% above Q3 2009, like-for-like revenue 5.2% up
• Ebitda EUR 36.5 million, compared to EUR 44.3 million in Q3 2009
• Ebitda margin of 10.5% (Q3 2009: 13.8%)
Markets and performance
Wavin’s Q3 2010 revenue increased 8.0% to EUR 346 million compared to Q3 2009. Like-for-like growth was 5.2%, due to volume growth and gradually improving prices.
Most countries contributed to the revenue increase. Double digit growth was realised in Poland, the Nordic countries and the UK. In the Netherlands and Italy however, sales continued to decline.
In the first nine months total revenue amounted to EUR 940 million, ahead 5.3% despite a very slow start of the year. The like-for-like revenue increase in the first nine months of the year was 2.4%.
Trading conditions in the third quarter were challenging. Ongoing price competition due to the overcapacity in the industry, limited the ability to pass on raw material price increases. Towards the end of the third quarter,
margins started to improve as raw material prices stabilised and price increases were coming through. Q3 Ebitda was EUR 36.5 million compared to EUR 44.3 million in the same period last year. Ebitda-margin was
10.5% in the quarter, against 13.8% in 2009.
Ebitda for the first nine months was EUR 84.4 million, which is 6.0% below last year, resulting in a year-to-date Ebitda margin of 9.0% (2009: 10.1%)

Outlook
The positive revenue trend will continue in Q4, but price competition and raw material cost volatility remains challenging. In Q4 we will execute further restructuring measures and take provisions for those. As a
consequence of all these circumstances net profit will be slightly ahead of last year.
All figures included in this release are unaudited
All references to like-for-like revenue reflect organic revenue at constant currencies
All references to Ebitda reflect operating result before depreciation, amortisation and non-recurring items

Financial Calendar 2011 (subject to change)
2 March Publication of Annual Results 2010
16 March Annual Report 2010 available on website
20 April Publication of Q1 2011 Results (before start of trading)
27 April Annual General Meeting of Shareholders
24 August Publication of H1 2011 Results (before start of trading)
20 October Publication of Q3 2011 Results (before start of trading)

and
Wavin takes step in consolidating Swedish market.
Zwolle, 28 October 2010 – Wavin, Europe’s leading supplier of plastic pipe systems and solutions, today announces that it has entered into an agreement with KWH Sweden to acquire its PE Water business for below ground applications, with an annual revenue of approx EUR 10 million.
Wavin CEO Henk ten Hove comments: “This acquisition will put us into the clear number 2 position in Civils & Infrastructure in Sweden and strengthen Wavin’s product offering in Sweden and Norway.“
Wavin takes over staff (total approx 30 FTE’s) and assets of the PE Water business of KWH, located in Boras, near Göteborg. Wavin Sweden, based in Eskilstuna, employs approx. 85 people and is mainly active in Civils & Infrastructure. Financial details of the transaction will not be disclosed.