euro adhoc: CHRIST WATER TECHNOLOGY AG
Financial Figures/Balance Sheet /
CHRIST reports final figures 2006
Thanks to order book and dynamic markets positive outlook for 2007
Takeover of UT&S
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
annual report
10.04.2007
Order backlog +25% to EUR 183mn Sales +15% to EUR 210mn EBIT +62% to EUR 6.4mn Net income +14% to EUR 3.3mn Takeover of UT&S
In the first full stand alone-year following the spin-off from BWT Group (effective 8/11/2005), CHRIST Group grew sales by 14.7% from EUR 183mn to EUR 209.9mn. Compared to an already relatively high level 2005, order intake increased 2% reaching EUR 246.0mn in 2006. Good use of capacities in all business areas is also reflected in order backlog which amounted to EUR 182.6mn, being up 25% on last year´s EUR 146.5mn.
Sales (in EUR thds.) 2006 2005 +/- % Pharma & Life Science (PLS) 48,992 46,815 +4.6% Ultrapure Water (UPW) 95,043 71,107 +33.7% Food & Beverage (F&B) 25,397 22,670 +12.0% Municipal Water Treatment (MWT) 40,444 42,437 -4.7% CHRIST Group total 209,876 183,029 +14.7%
Group EBIT improved by 62% to EUR 6.4mn (previous year: EUR 4.0mn) giving an EBIT-margin of 3.1% (previous year: 2.2%). The difference to the previously released preliminary EBIT is due to a reclassification of earnings from the operating to the financial result, which was neutral to net earnings.
EBIT (in EUR thds.) 2006 2005 +/- % Pharma & Life Science (PLS) 182 1,715 -89.4% Ultrapure Water (UPW) 4,939 1,132 +336% Food & Beverage (F&B) -1,015 -1,047 +3.1% Municipal Water Treatment (MWT) 2,339 2,182 +7.1% CHRIST Group total 6,445 3,982 +61.8%
Earnings before taxes advanced 79.3% to EUR 4.9mn (2005: EUR 2.7mn). Following positive tax effects in the years before, due to better results in high tax-countries the tax rate increased to 31.5%. Net income rose by 14% to EUR 3.3mn for 2006 corresponding to earnings per share of EUR 0.18 after EUR 0.16 based on an unchanged number of 17,833,500 shares.
Net debt increased from EUR 20.4mn to EUR 34.8mn while equity amounted to EUR 43.2mn as of December 31, 2006 (last year: EUR 41.2mn). The balance sheet total grew from EUR 144.4mn to EUR 167.4mn. Investments including capital expenditure and acquisitions rose to EUR 8.7mn (previous year: EUR 3.1mn)
Takeover of UT&S
Effective January 1st, 2007, CHRIST takes over the company UT&S Umwelt-Technik & Service GmbH & Co KG in Birkenfeld/Pforzheim, Germany (www.ut-s.de). Within the division Ultrapure Water, UT&S will be integrated into the Business Unit Process Water & Reuse. CEO Karl Michael Millauer: "UT&S enables us to deepen our competence while broadening our customer base to which we can offer complete turnkey solutions with a strong service in water treatment."
UT&S is active in the resin regeneration, focussing on the reclaim and disposal of metal containing effluents as well as the plant engineering and construction, especially ion exchange. The profitable company employs 28 collaborators and achieved a turnover of about EUR 5mn in 2006. Main customers of UT& S are the tool and machine manufacturing industry, the solar cells industry, the steel-industry (steel erosion process) as well as the pharmaceutical industry.
General manager and hitherto owner of UT& S, Mr. Hermann Dengler: "I am convinced to have found the best possible follow-up regulation with CHRIST as a strong new partner who will successfully run the company in future." Mr. Dengler remains general manager of the company.
Outlook
Based on the good order backlog as of year-end 2006 and supported by the positive economic conditions in all business units management expects double-digit growth in sales and disproportionate growth in EBIT in the current year.
Note to the shareholder structure Swisscanto Asset Management AG has reported to hold a total of 6.59% of shares of Christ Water Technology Group AG.
end of announcement euro adhoc 11.04.2007 07:30:00
Further inquiry note:
Christ Water Technology Group
Ralf Burchert, CEFA
ralf.burchert@christ-water.com
Tel.: +43 (0)6232/5011-1113
Branche: Biotechnology
ISIN: AT0000499157
WKN: 675399
Index: WBI, ATX Prime
Börsen: Wiener Börse AG / official market