SW Umwelttechnik Stoiser & Wolschner AG
euro adhoc: SW Umwelttechnik Stoiser & Wolschner AG
other
SW Umwelttechnik
adjusts 2008 earnings forecast to market conditions
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
17.10.2008
* Pressure on margins in Hungary due to harsh economic climate * EBIT to hold at previous year's level * Outlook particularly positive for Water Conservation Sector in 2009
SW Umwelttechnik - a listed family business with its core markets in Central and Southeastern Europe - has adjusted its earnings forecast for 2008 in response to current changed market conditions, especially in Hungary. The forecast for revenue growth remains in place, and EBIT should hold at last year's level despite the adverse trading environment.
SW Umwelttechnik has further expanded its market share in Hungary, but sharp increases in energy and material costs squeezed margins in the second quarter. Uncertainties on financial markets have led to delays in projects, particularly in the industrial and commercial sectors, and as a result the earnings contribution from the Hungarian market is likely to fall in the second half.
In the group's key growth market, Romania, order backlog has again risen sharply, and the outlook for the coming year is highly encouraging, particularly for the group's Water Conservation sector. Because of this, the expansion project at the Bucharest site to create capacity for the Water Conservation sector is to due begin near the end of 2008 as planned, with commissioning is scheduled for the summer of 2009.
Revenue and earnings in Austria are set to exceed expectations, and the outlook for investment in infrastructure in 2009 is positive. Due to anticipated slow economic growth in Central and Southeastern Europe management has downgraded its EBIT guidance for 2008 to the previous year's level. However the revenue growth forecast is unchanged.
SW Umwelttechnik will include a more detailed discussion of performance this year and a revised outlook for 2008 and 2009 in its interim report on the third quarter, to be published on 17 November 2008.
Founded in 1910, SW Umwelttechnik remains a family business, though it has been listed on the Vienna Stock Exchange since 1997. The group is widely identified with sustainable enterprise and rapid expansion in Central and Southeastern Europe (CSE). Its innovative environmental technology products are contributing to infrastructure renewal in CSE.
end of announcement euro adhoc
Further inquiry note:
Dr. Bernd Wolschner
Member of the Management Board
Tel: +43 / (0) 7259 / 31 35-0
Mobile: +43 / (0) 664 / 34 13 953
Fax: +43 / (0) 463 / 37 667
Michaela Werbitsch
Investor Relations
Mobile: +43 / (0) 664 / 811 76 62
E-mail: michaela.werbitsch@sw-umwelttechnik.com
Website: www.sw-umwelttechnik.com
Branche: Technology
ISIN: AT0000808209
WKN: 910497
Index: WBI
Börsen: Börse Berlin / free trade
Börse Frankfurt / free trade
Wiener Börse AG / Regulated free trade