euro adhoc: BWT Aktiengesellschaft
Financial Figures/Balance Sheet
BWT
reports record results for 2006
Optimistic outlook for 2007
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
annual report
30.03.2007
BWT strengthens market leadership in Europe Growth in sales and earnings New potentials in Point-of-Use and fuel cell markets
The final figures 2006 confirm the preliminary results released earlier this month. In 2006, the BWT Group increased its consolidated sales by 14.5% from EUR316.2 million (adjusted for the Christ Water Technology Group spun off at the end of October 2005) to EUR362.0 million. Andreas Weissenbacher, CEO: "All segments contributed to this positive performance which consolidates and expands the BWT Groups leading position in the residential segment of the European water treatment market."
Segmental Sales (in EUR 1,000s) 2006 2005 + / - % Austria / Germany 146,064 128,501 +13.7% France / Benelux 87,865 85,688 +2.5% Scandinavia 42,466 37,449 +13.4% Italy / Spain 31,274 28,682 +9.0% Switzerland / Others 54,295 35,889 +51.3% BWT Group excl. AST 361,964 316,209 +14.5% Aqua Systems Technologies (AST)* - 147,330 -
* Note: from January to October 2005
The significant sales growth accompanied by a below-average increase in personnel and other operating expenses in the 2006 fiscal year led to an above-average increase in income. EBIT increased by 26.7% from EUR25.7 million to EUR32.6 million, thus totaling 9.0% (PY: 8.1%) of sales.
All business segments improved in comparison to 2005, EBIT broke down by segment as follows:
Segmental EBIT (in EUR 1,000s) 2006 2005 + / - % Austria / Germany 10,488 9,802 +7.0% France / Benelux 6,227 5,401 +15.3% Scandinavia 5,622 2,375 +136.7% Italy / Spain 5,211 4,420 +17.9% Switzerland / Others 5,022 3,702 +35.7% BWT Group excl. AST 32,570 25,700 +26.7% Aqua Systems Technologies (AST)* - 1,313 - *) Note: from January to October 2005
Net profit increased by 18.9% to EUR22.2 million, with earnings per share at EUR1.24 compared with EUR1.06 in 2005.
Net debt in the BWT Group was reduced in 2006 by 32% from EUR36.3 million to EUR24.7 million. Gearing therefore improved (net debt/equity ratio) from 38.9% to 22.6%. As at December 31, 2006, Group equity totaled EUR109.2 million, equivalent to a very robust equity ratio of 42.6% (PY: 37.7%). For this reason, the Management Board intends to propose increasing the dividend from EUR0.30 to EUR0.35 to the Annual General Meeting on May 24. The number of employees in the BWT Group was 2,202 as at December 31, 2006 (PY: 2,007).
Outlook Geographical expansion, predominantly in the growth markets of Eastern Europe and Asia, as well as the extension of the product range, particularly at the Point-of-Use, continue to be the objectives of the BWT management. For 2007, the Management Board expects favorable economic conditions and an increase in Group sales to EUR380 million. As was the case in 2006, consolidated earnings are again expected to grow at a quicker rate than sales in 2007. We plan consolidated net earnings of EUR25 million.
end of announcement euro adhoc 30.03.2007 07:30:00
Further inquiry note:
BWT Aktiengesellschaft
Ralf Burchert, CEFA
ralf.burchert@bwt.at
Tel.: +43 (0)6232/5010-1113
Branche: Water Supply
ISIN: AT0000737705
WKN: 884042
Index: ATX Prime
Börsen: Wiener Börse AG / official market