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CHRIST WATER TECHNOLOGY AG

euro adhoc: CHRIST WATER TECHNOLOGY AG
quarterly or semiannual financial statement
CHRIST continues growth course in the first-half year 2007

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
6-month report
17.08.2007
•       Order intake +21% to EUR 133.4 million
•       Order backlog +24% to EUR 183.5 million
•       Sales +21% to EUR 132.5 million
•       Net income +62% to EUR 2.7 million
The positive business climate and further development of the 
positioning of the Christ Water Technology Group is reflected in a 
significant increase in orders in the first half of 2007. New orders 
increased by 21% (EUR 133.4 million compared to EUR 110.6 million in 
the first half of 2006). This means that the orders on hand as at 
June 30, 2007 are at the same level as the first quarter but 
increased year-on-year by 24% from EUR 147.8 million to EUR 183.5 
million.
"Thanks to the strategic positioning of CHRIST in water technology 
for global industries and municipalities, positive business 
performance continues to be reported from all business divisions and 
companies within the Group. This trend is continuing uninterrupted on
the basis of enquiries and offers," says DDr. Karl Michael Millauer, 
Chairman of the Christ Water Technology Group.
Sales development in the reporting period was heavily influenced by 
the finalization and hand-over of existing major projects as well as 
by the increased demands made on capacities by new projects. Group 
sales increased year-on-year by 21% from EUR 109.2 million to EUR 
132.5 million in the first half of 2007, and clearly exceeded the 
existing record figure for the 1st quarter (EUR 63 million) with a 
2nd quarter figure of EUR 69.4 million.
On the whole, company results developed slightly more positively than
sales growth. EBITDA increased year-on-year by 28% from the previous 
year´s figure of EUR 4.4 million to EUR 5.6 million. EBIT improved by
34% from EUR 3.0 million to EUR 4.1 million. Heavy growth in earnings
was slowed down mainly by cost overshooting in some projects in the 
Ultrapure Water division. By contrast, the remaining business 
divisions exhibit improved earnings without exception.
Earnings before tax experienced above-average growth of 70% to reach 
a figure of EUR 4.0 million (previous year: EUR 2.4 million) due to 
offsetting of the financial result. After minorities, this results in
net income for the period of EUR 2.7 million (previous year: EUR 1.6 
million) for the shareholders in the company, or EUR 0.15 per share 
compared to EUR 0.09 the previous year.
Group equity (including minority shares) increased in comparison to 
December 31, 2006 from EUR 43.2 million to EUR 46.0 million. Cash 
flow from operating activities is influenced by the settlement status
in project business, and amounts to EUR -12.8 million (previous year:
EUR -0.7 million) due to the increase in working capital 
requirements. Cash flow from investment activities amounted to EUR 
-4.4 million.
Outlook
Based on the current orders as well as the continuing positive 
project activity in all CHRIST divisions, which led to the conclusion
of significant orders at the start of the 3rd quarter, growth in 
volume and earnings is expected to continue. The restructuring 
successes in business units which have so far been negative as well 
as the improvement in the project mix have a positive effect on 
income. The ongoing heavy demand for sea water desalination projects 
can create a strong, growing business division in CHRIST through the 
winning of reference plants. The rise in working capital requirements
in project business has not yet been adjusted as necessary, and will 
only change slowly in the coming months due to the project-specific 
payment modalities in selected major projects. All new projects show 
improved payment conditions. On the basis of the results for the 
first half of 2007 and the continuing dynamism in all business 
fields, the Management Board expects Group sales to exceed the EUR 
250 million-mark and EBIT to grow at a disproportionate rate to the 
rise in sales.
end of announcement                               euro adhoc 17.08.2007 07:30:00

Further inquiry note:

Christ Water Technology AG
Ralf Burchert
ralf.burchert@christ-water.com
P. +43 6232 5011 1113

Branche: Biotechnology
ISIN: AT0000499157
WKN: 675399
Index: WBI, ATX Prime
Börsen: Wiener Börse AG / official market

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