CHRIST WATER TECHNOLOGY AG

euro adhoc: CHRIST WATER TECHNOLOGY AG
Earnings Forecast
CHRIST announces profit improvement programme and new EBIT guidance

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Company Information

10.10.2008

The new Management Board has taken the decision today to significantly improve profitability. The measures taken include the comprehensive restructuring of low and non profitable businesses and the sustaining reduction of overhead cost.

"After having completed a detailed review of our organization, we are now taking measures to improve profitability through creating a lean and efficient organization. The focus on strong and profitable businesses combined with a significant reduction of overhead cost will result in savings of close to 6 million EUR annually. Half of the savings will be re-invested in technical capabilities and increased R+D activities. The cost reduction and the higher level of technical and engineering capabilities will improve EBIT substantially in 2009. These actions are necessary to lift earnings to a higher level within a relatively short period of time and to ensure a leaner and more competitive organization." says Malek Salamor, CEO of Christ Water Technology Group.

CHRIST expects for the current year an EBIT of approx. - 2 million EUR. This result includes the one-time impact of impairments and costs of discontinued activities and operations of approx. 4 million EUR. Furthermore, in the second half of 2008 costs and provisions of approx. 4 million EUR will be booked for the completion and termination of inactive and loss making projects in the power and food and beverage industries.

The actions taken together with the improved capabilities and the leaner organization will result in higher flexibility and productivity with less complexity in the corporate structure. For 2009, based on today´s order book and the market situation in water technology, CHRIST management expects a substantial positive result in 2009. "Going forward, with focus and discipline we are convinced to have all what it takes to be successful in our markets: excellent technologies, satisfied and loyal customers, qualified and committed employees build during the 70 years since the foundation of CHRIST in 1939," says Malek Salamor.

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ots Originaltext: CHRIST WATER TECHNOLOGY AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
CHRIST WATER TECHNOLOGY Aktiengesellschaft
Mag. Ralf Burchert
ralf.burchert@christ-water.at
Tel.: 06232/5011-1113

Branche: Biotechnology
ISIN:      AT0000499157
WKN:        675399
Index:    WBI, ATX Prime
Börsen:  Wiener Börse AG / official market



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