euro adhoc: BWT Aktiengesellschaft
Financial Figures/Balance Sheet
Further
Growth in the First Quarter 2007
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
3-month report
16.05.2007
Sales +7.9% to EUR 89.2 million Net result +11.2% to EUR 6.4 million Positive outlook for the full year 2007
Good economic conditions in the first quarter of 2007 and the chosen strategy brought about improving results for the BWT Group. Group consolidated sales rose by 7.9% in the first three months from EUR 82.6 million to EUR 89.2 million.
CEO Andreas Weissenbacher comments: "Growth in Eastern Europe exceeds our expectations while we notice a more mixed picture in our Western European markets. In the new Point-of-Use-segment we receive extraordinary positive reactions on our new product programme and progress in the fuel cell activities open up a variety of development perspectives."
The first quarter of 2007 was characterized by the start of production and launch of the water+more point-of-use coffee machine filter range in Germany, France, Italy and Spain as well as successful presentation of the extensive BWT product range under the slogan "Safety, Hygiene and Health" at the largest sanitation trade fair worldwide, the ISH in Frankfurt. Despite the additional expenses associated with these activities, BWT achieved positive development of net profit (+11.2%) and EBIT (+6.3%) in comparison to the previous year. EBIT (result from operating activities) of the BWT Group improved in the first three months of the previous year from EUR 8.4 million to EUR 9.0 million. Net profit after minorities rose by 11.2% from EUR 5.7 million to EUR 6.4 million. Earnings per share were EUR 0.36 as against EUR 0.32 in the previous year.
Within the framework of the Austria/Germany segment, FuMA-Tech GmbH, which focuses on the development, production and marketing of specialist membranes for fuel cells, increased its sales from EUR 0.4 million to EUR 0.7 million. Collaborations with reputable international partners were further expanded in the first quarter of 2007.
Gearing amounted to 27.1% and worsened as against December 31, 2006 (22.6%) as a result of the higher demand for working capital. The equity ratio in the BWT Group continued to be good: 42.5% of the balance sheet total compared to 42.6% as at December 31, 2006 and 38.6% a year ago represent a sound basis for further financing of growth for the BWT Group. Investments amounted to EUR 3.0 million for fixed assets, of which EUR 0.9 million were securities. The number of staff increased to 2,221 as at March 31, 2007, in comparison to 2,202 employees as at December 31, 2006 and 2,069 at the same point in time in the previous year. The point-of-use business is responsible for a significant proportion of this increase.
Outlook At the end of March 2007, the book order level for the BWT Group was EUR 65.1 million, an increase of 25.7% as compared with the same point in time in the previous year. All key individual companies contributed to this pleasing increase, from which a positive sales development can be anticipated in the next few months.
The BWT Group will continue to implement its expanded growth strategy based on the three pillars of Innovation Geographical expansion and Organic growth
with momentum and consistency.
The expansion steps initiated in relation to Eastern Europe, Asia and the point-of-use business as well as the expected unchanged positive economic environment in the water growth market represent a basis on which Group consolidated sales of more than EUR 380 million and net profit of EUR 25 million can be anticipated for the current financial year.
end of announcement euro adhoc 16.05.2007 07:30:00
Further inquiry note:
BWT Aktiengesellschaft
Mag. Ralf Burchert
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