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BWT Aktiengesellschaft

EANS-Adhoc: BWT Aktiengesellschaft
BWT extends market leadership proceeding fit and well equipped into a challenging year 2009

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
annual report
27.03.2009
•       Turnover: +3% to EUR 410.2 million
•       EBIT: -19% to EUR 29.2 million
•       Operating cash flow increases by 25% to EUR 28.1 million
•       Equity ratio increases to 49.0%
•       Dividend proposed at EUR 0.38 per share unchanged to the year before
"Although we are affected by the weak market environment, we are 
aware of the fact that for water in general there is no recession. 
Thanks to our organisation and the commitment of our employees we can
react flexibly to the challenges on the market. In our new business, 
Point-of-Use, we achieved extraordinary growth of +54%. In view of 
our investments in product-innovations we do not let ourselves get 
unsettled by the global economic turbulences and we consequently and 
persistently follow our strategies", says Andreas Weissenbacher, 
Chairman of the Board of the BWT Group.
In 2008, turnover advanced by 3% reaching EUR 410.2 million after 
growth of 10% in 2007. Some regions were able to maintain their high 
level achieved in the previous year with most countries still having 
registered growth. While business in the residential and commercial 
technology (at the Point-of-Entry) increased by 2%, the Point-of-Use 
(small, professional filter systems for the end consumers and 
caterers) advanced by more than 54% generating EUR 17.4 million.
Investments in the market launch of the PoU-segment as well as 
generally low sales growth led to EBIT declining to EUR 29.2 million 
from EUR 36.3 million in the previous year. Net income of EUR 20.6 
million was 21.4% below the year 2007 record of EUR 26.3 million. 
Earnings per share amounted to 1.16 EUR for the year 2008. Operating 
cash flow increased by 25% to EUR 28.1 million and allowed internal 
financing of the increased investment programs and share buy-back 
programs as well as the reduction of the bank liabilities.
Despite substantial investments of EUR 16.6 million (after EUR 13.9 
million in the previous year), dividends of EUR 6.8 million (0.38 EUR
per share) and the share buyback of EUR 5.3 million (about 0.3 
million shares), BWT increased the equity ratio as of 31/12/2008 to 
49.0% and continued to reduce gearing, from 20.4% in the previous 
year to 18.8% at the end of 2008. Moreover, for the first time more 
than EUR 12 million were spend on research and development. The 
innovative PoU-product program was extended in the field of 
professional users in gastronomy, catering, with backing ovens, 
steamers and vending applications introducing new standards of 
quality. Also in 2008, many new key accounts choose BWT for these new
products.
New BWT subsidiaries were set up in the Netherlands and Russia.
Outlook
Andreas Weissenbacher: "We could reduce a decline in sales from 11.3%
in January 2009 to 6.3% in February. In the PoU-business we achieve 
growth of 80% in particular with the BWT bestmax® professional 
filter-cartridges. Nevertheless, guidance on earnings for the year 
2009 is difficult to give. In spite of many measures to reduce costs 
and optimize processes, declining results in comparison to 2008 
cannot be ruled out. Close relations with clients established for 
years, strong service and distribution networks as well as the good 
position as the European market leader with a strong balance sheet 
and a full pipeline of product innovations are important foundations 
for BWT to emerge stronger out of this unfriendly economic climate."
The Annual Report is available online on www.bwt-group.com.
end of announcement                               euro adhoc

Further inquiry note:

BWT Aktiengesellschaft
Mag. Ralf Burchert
ralf.burchert@bwt.at
Tel.: 06232/5011-1113

Branche: Water Supply
ISIN: AT0000737705
WKN: 884042
Index: ATX Prime
Börsen: Wiener Börse AG / official market

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