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)

About Wavin

Wavin is the leading supplier of plastic pipe systems and solutions in Europe. The company provides essentials: plastic pipe systems and solutions for tap water, surface heating and cooling, soil and waste, rain- and storm water, distribution of drinking water and gas and telecom applications. Wavin is headquartered in Zwolle (The Netherlands) and has a presence in 29 European countries, with manufacturing sites in 18 of those and one in China. The company employs approximately 6,300 people and reported revenue of almost EUR 1.2 billion for 2009. Outside Europe, it has a global network of agents, licensees and distributors. Wavin is listed on the NYSE Amsterdam stock exchange (WAVIN). More details about Wavin can be found at www.wavin.com 

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Cautionary note regarding forward-looking statements

This announcement contains forward-looking statements. Forward-looking statements are statements that are not based on historical fact, including statements about our beliefs and expectations. Any statement in this announcement that expresses or implies our intentions, beliefs, expectations or predictions (and the assumptions underlying them) is a forward-looking statement. Such statements are based on plans, estimates and projections as currently available to the management of Wavin. Forward-looking statements therefore speak only as of the date they are made and we assume no obligation to publicly update any of them in the light of new information or future events.