quarterly or semiannual financial statement

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On November 8, 2005, the spin-off of CHRIST WATER TECHNOLOGY AG from BWT Aktiengesellschaft became legally valid by way of its entry in the commercial register. On the same day, CHRIST shares were floated on the Prime Market of the Vienna Stock Exchange.

Sales: EUR 129.5 million,  +6.5% y.o.y. In the first nine months of 2005, the CHRIST Group increased its consolidated sales by 6.5% as against the previous year from EUR 121.5 million to EUR 129.5 million. In the third quarter, sales totaled EUR 42.4 million, up 10.4% on the previous year.

Segment                              1 - 9 / 2005 1 - 9 / 2004 + / - %
Pharma & Life Science        31.867          23.935          +33.1%
Ultrapure Water                 54.452          58.629          -7.1%
Food & Beverage                 16.165          19.611          -17.6%
Municipal Water Treatment 26.996          19.357          +39.5%
Total                                 129.480         121.532         +6.5%

Order book: EUR 133.6 million, + 88.7% y.o.y. Order intake: EUR 173.5 million, +44.5% y.o.y. In the period from January to September, incoming orders improved from EUR 120.1 million to EUR 173.5 million. In the third quarter alone, new orders in the amount of EUR 57.1 million were awarded. As of the end of September, Christ's order books amount to EUR 133.6 million and therefore increased by almost 89%.

EBIT: EUR 1.5 million (PY: -EUR 3.5 million) In the first nine months, EBIT was turned around from a loss of EUR 3.5 million in the previous year to a profit of EUR 1.5 million. After the first three quarters of 2005, earnings before taxes amounted to EUR 0.5 million, a significant improvement after a loss of EUR 4.4 million in the previous year. Earnings after taxes improved from a loss of EUR 3.3 million to a profit of EUR 0.4 million.

Equity ratio: 28.6% (PY: 27.6%) As of September 2005, noncurrent assets increased by EUR 0.9 million as against December 31, 2004 to EUR 29.0 million as a result of investments in property, plant, and equipment and additions to goodwill. Long-term assets increased from EUR 12.3 million to EUR 12.9 million. Short-term assets fell from EUR 104.0 million to EUR 97.3 million, primarily as a result of declines in other receivables. Despite an intensification of operations, total assets declined from EUR 144.4 million to EUR 139.3 million. Group equity (including minorities) remained stable as against December 31, 2004, though the equity ratio improved from 27.6% to 28.6% as a result of the decline in total assets.

Cash flow from the result: EUR 2.4 million In the first nine months of 2005, the total cash flow from the result amounted to EUR 2.4 million. As a result of the increase in working capital, cash flow from operations amounted to EUR 1.1 million as of September 2005. Cash and cash equivalents were EUR 16.7 million as of September 30, 2005, an increase of EUR 4.8 million as against the end of December 2004. Financial liabilities were reduced by EUR 7.1 million.

The number of employees increased from 796 as of December 31, 2004 to 836 as of September 30, 2005. The rise primarily relates to the expansion of activities in Asia and the newly consolidated Pharma & Life Science subsidiary. As a result, staff costs increased from EUR 31.8 million to EUR 33.7 million.

Outlook As a result of earnings development to date and the good order situation, the Management Board is assuming significantly higher consolidated sales as against the previous year and positive earnings for 2005 as a whole. Thus, we have achieved our goal for this year - that of turning the Company around after two difficult financial years in 2003 and 2004 - and established a foundation for sustained positive earnings development in the years to come.

The Pro Forma Interim Group Report can be downloaded from

Company profile:

Water to match your needs - Christ is leading supplier of customised solutions in process plant construction and in the services sector in the field of pure and ultrapure water production, drinking water production and the treatment of wastewater and sewage. Christ employs about 800 qualified persons at more than 30 locations world-wide.

More information on CHRIST WATER TECHNOLOGY can be downloaded from

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Im Internet recherchierbar:

Further inquiry note:
A-5310 Mondsee, Austria, Walter-Simmer-Strasse 4
Investor Relations
Tel. +43 6232 9011-1001, Fax. +43 6232 9011-1196, E-Mail:

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


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