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CHRIST WATER TECHNOLOGY AG

euro adhoc: CHRIST WATER TECHNOLOGY AG
Earnings Forecast
CHRIST announces profit improvement programme and new EBIT guidance

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
Company Information
10.10.2008
The new Management Board has taken the decision today to 
significantly improve profitability. The measures taken include the 
comprehensive restructuring of low and non profitable businesses and 
the sustaining reduction of overhead cost.
"After having completed a detailed review of our organization, we are
now taking measures to improve profitability through creating a lean 
and efficient organization. The focus on strong and profitable 
businesses combined with a significant reduction of overhead cost 
will result in savings of close to 6 million EUR annually. Half of 
the savings will be re-invested in technical capabilities and 
increased R+D activities. The cost reduction and the higher level of 
technical and engineering capabilities will improve EBIT 
substantially in 2009. These actions are necessary to lift earnings 
to a higher level within a relatively short period of time and to 
ensure a leaner and more competitive organization." says Malek 
Salamor, CEO of Christ Water Technology Group.
CHRIST expects for the current year an EBIT of approx. - 2 million 
EUR. This result includes the one-time impact of impairments and 
costs of discontinued activities and operations of approx. 4 million 
EUR. Furthermore, in the second half of 2008 costs and provisions of 
approx. 4 million EUR will be booked for the completion and 
termination of inactive and loss making projects in the power and 
food and beverage industries.
The actions taken together with the improved capabilities and the 
leaner organization will result in higher flexibility and 
productivity with less complexity in the corporate structure. For 
2009, based on today´s order book and the market situation in water 
technology, CHRIST management expects a substantial positive result 
in 2009. "Going forward, with focus and discipline we are convinced 
to have all what it takes to be successful in our markets: excellent 
technologies, satisfied and loyal customers, qualified and committed 
employees build during the 70 years since the foundation of CHRIST in
1939," says Malek Salamor.
end of announcement                               euro adhoc

Further inquiry note:

CHRIST WATER TECHNOLOGY Aktiengesellschaft
Mag. Ralf Burchert
ralf.burchert@christ-water.at
Tel.: 06232/5011-1113

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

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