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BWT Aktiengesellschaft

EANS-Adhoc: BWT Aktiengesellschaft
BWT fit for pharma expansion after third quarter

  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
  announcement.
9-month report
13.11.2009
• Sales EUR 296.9 million (-4.7%)
• EBIT EUR 24.6 million (-4.7%)
• Net result EUR 22.2 million (+19.0%)
• Gearing 3.0% (23.8% as of Sept. 30, 2008)
• Equity ratio 52.9% (46.2% as of Sept. 30, 2008)
• New share buyback program
"We bring to account an encouraging third quarter that in some 
markets brought about stabilisation. However, there is no real sign 
of relief; but in these times of sustained uncertainty we can give 
evidence of our reliability and stability as a provider of 
sustainable water technologies for safety, hygiene and health", says 
Andreas Weißenbacher, CEO of the BWT Group about the third quarter 
results 2009.
From January to September 2009 the BWT Group generated consolidated 
revenue of EUR 296.9 million, short of the result of the previous 
year by 4.7%. However, in the third quarter, a slight increase in 
revenue was achieved that amounted to EUR 96.9 million and was higher
by 1.1% than in the previous year. The profit situation has improved 
in the 3rd quarter. The EBIT amounted to EUR 6.2 million, 24.9% 
higher than the results of the previous year (EUR 5.0 million). 
Accumulated EBIT of the BWT Group after nine months amounted to EUR 
24.6 million, 4.7% lower than the previous year´s value of EUR 25.8 
million.
The sale of a shareholding in the second quarter of 2009 with a gain 
of EUR 4.5 million is the main cause for a better financial result as
compared to the previous year. After 9 months, the net result for the
period before minority interests amounted to EUR 22.2 million 
compared to EUR 18.6 million in the previous year (+19.0%). In the 
third quarter the Group´s net result of EUR 5.4 million has improved 
even by 55.4% compared to the previous year (EUR 3.5 million). 
Earnings per share came to EUR 1.27 compared to EUR 1.04 in the 
previous year.
Thanks to the lower working capital requirement (primarily 
inventories and trade receivables), the cash flow from operating 
activities has risen from EUR +17.5 million to EUR +29.0 million. Net
debt of the BWT Group is at all-time low, the balance of cash at bank
and interest-bearing financial liabilities decreased as compared to 
30 September of the previous year from EUR -33.2 million to EUR -4.6 
million; at the end of the year 2008 it had still amounted to EUR 
-25.9 million. Gearing amounted only to 3.0% compared to 23.8% as at 
the reference date of the previous year and 18.8% as at 31 December 
2008.
The equity in the consolidated balance sheet of the BWT Group 
increased to 52.9% of the balance sheet total and it amounted to 
49.0% as at 31 December of the previous year and 46.2% as at 30 
September 2008. The number of employees of the BWT Group decreased as
compared to the previous year by 58 persons (-2.4%). Compared to 30 
September 2008, the number of employees dropped from 2,427 persons to
2,369 persons.
Outlook
Andreas Weißenbacher: "With net debt reduced close to Zero and solid 
cash flow as well as good balance sheet after the first three 
quarters, we are fit for starting the pharma business that is 
included as of October 1st in the BWT Group - and we welcome 200 new 
BWT employees." The takeover of the pharmaceutical business will 
bring in the 4th quarter of 2009 about EUR 10 million and from 2010 
annually at least EUR 35 million additional annual revenues.
On the basis of the business trend that has developed so far, the 
Management Board expects for 2009 consolidated revenue of the Group 
to be roughly EUR 390 million; due to better income from investments,
the consolidated results will slightly exceed the previous year´s 
value of EUR 21 million. Further, the Management Board plans another 
share buyback program.
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: Wien / official market

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