SW Umwelttechnik Stoiser & Wolschner AG

euro adhoc: SW Umwelttechnik Stoiser & Wolschner AG
quarterly or semiannual financial statement
SW Umwelttechnik announces results for first quarter of 2008

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3-month report

08.05.2008

* Record order backlog of E52.1 million * First quarter revenue up by 15% * Forecast for 2008: revenue up by 20%, EBIT by 30%

SW Umwelttechnik posted highly satisfactory results for  the  first   quarter  of 2008. And the Vienna listed Carinthian family  business   is  predicting  revenue growth of about 20% and a 30% increase in   EBIT  for  2008  as  a  whole.  Order backlog stood at a record EUR 52.1 million (m) as of 30 April 2008.

Revenue for the first quarter of 2008 advanced to E18.4m from E16m in the  like period of 2007. The improvement was largely driven by a strong performance  from the group's booming Infrastructure business, which lent  weight  to  the  upbeat revenue forecast for 2008. Meanwhile the percentage  revenue  contribution  from SW Umwelttechnik's Romanian operations doubled year on year.

The largest geographical market during the  period  was  Hungary  at 62.1%  (Q1 2007: 71.4%) of total revenue, ahead of Romania at 16.8% (Q1  2007:  9.4%).  The share of revenue attributable to Austria was also up, from 15.3% to 16.7%.

The segmental revenue breakdown in the  first  quarter  showed  a   marked  shift towards the Infrastructure business sector, which accounted  for  65.2%  of  the total (Q1 2007: 56%), followed by Water Conservation on 26.8% (Q1  2007:  31.3%) and Engineering on 8% (Q1 2007: 12.6%).

First quarter EBIT was negative by EUR E1.6m (Q1 2008: negative  by   E1.3m),  in line with the normal seasonal pattern. The loss on ordinary activities of  E3.8m (Q1 2007: E1.4m)  was  inflated  by   E1.2m  in  book  losses  on  exchange  rate movements (Q1 2007: exchange gains of E0.7m); the exchange  losses  had  already narrowed to E0.4m by 30 April 2008.

Order backlog Order backlog was at an all-time  high  of  E52.1m  at the  end  of  the  first quarter. The increase was  largely  fuelled by  order  intake  in  Hungary  and Romania. SW Umwelttechnik won a   E3.0m  contract  for  reinforced  concrete  and jacking pipes for a wastewater treatment plant currently under  construction  in Budapest. The group also received  a  E2.0m  order  for  products   for  a  sewer network rehabilitation and upgrading project in Suceava, eastern Romania.

Employees As at 31 March 2008 SW Umwelttechnik employed 831 people - 90 more than  a  year earlier. The increase was largely due to expansion in Romania  and  the  group's positive trading performance there.

Capital expenditure Capital expenditure of E2.6m in the first quarter of 2008 (Q1 2007:  E5.6m)  was largely channelled into the completion of  expansion  projects  in  Hungary  and Romania.

Balance sheet Non-current assets rose to E75.6m (31 March 2007: E62.1m) as  a  result  of  the large-scale investment programme carried out in  the  previous  financial  year. The group succeeded in trimming current assets  from  E44.9m  to  E41.8m.  Total assets ended the first quarter 10% up year on year, at E117.4m (31  March   2007: E107.0m).

Financial liabilities climbed from E58.6m to E75.5m due to borrowing to  finance expansion. Equity edged down from E25.7m to E23.0m, in line with expectations.

Share price performance Shareholders' confidence  in  SW   Umwelttechnik's  successful  strategy  remains strong. Following an   outstanding  share  price  performance  in  2007  and  the company's return to the prime  market  segment  of  the  Vienna  Stock   Exchange during year, the price held its ground well in the first   quarter  of  2008.  SW Umwelttechnik will be paying a dividend of E0.30 for the 2007 financial year.

Outlook Management's expectation of a 20% increase in revenue for   2008  reflects  order intake in Romania, SW Umwelttechnik's uncontested market leadership in  Hungary, the success of the current export drive, and  innovative  product  developments. The disproportionate 30% year-on-year increase in EBIT  projected  for   2008  is based on the anticipated positive contribution to earnings of the  new  Romanian operations.

@@start.t2@@. In Romania the  Timisoara  and  Bucharest  works  have  now  reached  full
         production. The second development phase  involving  the  installation  of
         capacity  for  water  conservation  products  at  the  Bucharest  site  is
         scheduled for completion by mid-2009. Work  on  the  construction  of  the
         Targu Mures plant in central Transylvania is due to commence in mid-2009.

      . In Austria SW  Umwelttechnik  has  consolidated  its  market  shares,  and
         expects to post a significant year-on-year increase in revenue for 2008 as
         a whole.

      . In Hungary the fall-off in the revenue  contribution  of  the  Engineering
         sector because of current public spending cuts is being more  than  offset
         by sales to industrial and commercial customers, and exports to Slovakia.

      . SW Umwelttechnik is going ahead with plans  to  export  from  Romania  and
         Hungary to Bulgaria, Moldova, Serbia and Ukraine. Meanwhile steps are also
         being taken to acquire land for additional factories.@@end@@

Financial highlights

|E m                      |Q1 2008  |Q1 2007  |
|Revenue                |18.4        |16.0        |
|EBIT                    |-1.6        |-1.3        |
|EBITDA                 |-0.4        |-0.2        |
|POA                      |-3.8        |-1.4        |
|                          |              |              |
|                          |              |              |
|E m                      |Q1 2008  |Q1 2007  |
|Non-current         |75.6        |62.1        |
|assets                 |              |              |
|Current assets    |41.8        |44.9        |
|Total assets        |117.4      |107.0      |
|                          |              |              |
|Equity                 |23.0        |25.7        |
|Debt                    |94.4        |81.3        |
|whereof bank        |75.5        |58.6        |
|loans                  |              |              |

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.

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ots Originaltext: SW Umwelttechnik Stoiser & Wolschner AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Dr. Bernd Wolschner
Vorstand der SW Umwelttechnik AG
Tel.: +43/7259/31 35 0
Fax: +43/463/37 667

Romed Lackner
Investor Relations & Marketing
Tel.: +43/664/811 76 70
Fax: +43/463/37 667 170
E-Mail: romed.lackner@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



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