Tous Actualités
Suivre
Abonner BWT Aktiengesellschaft

BWT Aktiengesellschaft

EANS-Adhoc: BWT Aktiengesellschaft
BWT strengthens balance sheet

  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.
6-month report
07.08.2009
•       Sales EUR 200.0 million (-7.3%)
•       EBIT EUR 18.4 million (-11.7%)
•       Net profit EUR 16.8 million (+10.7%)
•       Gearing 12.1%, equity ratio 51.1%
"We have followed a good way in the second quarter. With new products
and the cost savings measures implemented already last year we were 
able to stabilize our earnings situation on a good level. At the same
time, we have improved our balance sheet again reducing our debt," 
says Andreas Weissenbacher, CEO of the BWT Group about the first 
half-year 2009.
In the first half-year of 2009, the BWT Group generated consolidated 
revenue of EUR 200.0 million, thus falling below the previous year´s 
figure by 7.3%. Consequently, the trend of the first quarter with a 
decline of just over 7% was confirmed in the second quarter as well.
Altogether, the revenue in the Point-of-Entry business has fallen in 
the first six months by 11.4%. Very pleasing increases in "BWT-water 
& more" coffee machine filters and in water dispensers brought the 
Point-of-Use sales forward by 17% in the aggregate.
In regards to the operating result, the decrease in profit resulting 
from lower sales was distinctly reduced in the 2nd quarter, too, 
thanks to a better gross margin and the cost-savings measures. 
Therefore, after six months, EBIT of EUR 18.4 million was by 11.7% 
lower than in the previous year, however, the decrease in the 2nd 
quarter amounted only to -7.1% or EUR 0.9 million.
Due to extraordinary revenue thanks to a disposal of a participation 
financing generating revenue of EUR 4.5 million, the financial result
in the first six months improved from EUR -0.5 million in the 
previous year to EUR +3.2 million.
Earnings before taxes in the first half-year of 2009 amounted to EUR 
21.6 million, improving by 6% compared to the previous year from EUR 
20.4 million. After 6 months, the profit for the period before 
minority interests amounted to EUR 16.8 million compared with EUR 
15.2 million in the previous year (+10.7%). In the second quarter, 
the Group profit amounted to EUR 12.5 million and was higher by 31.4%
than in the previous year (EUR 9.5 million). The earnings of minority
interest have only minimal effect on Group´s earnings. Earnings per 
share came to EUR 0.96 compared with EUR 0.85 in the previous year.
Despite the lower cash flow from earnings, the cash flow from 
operating activities increased due to the lower working capital 
requirement (above all inventory and trade receivables) from EUR +1.1
million to EUR +13.9 million.
The gearing amounted thus only to 12.1% compared with 32.1% at the 
reference date of the previous year and 18.8% at 31 December 2008. 
The balance sheet of the BWT Group shows a distinctly improved equity
capitalisation of 51.1% of the balance sheet total; at 31 December of
the previous year, it amounted to 49.0% and at 30 June 2008 to 44.4%.
The number of employees compared with 30 June 2008 or with 31 
December 2008 dropped from 2,389 persons to 2,345 persons.
Outlook: Entry into the pharmaceutical water business as strategic 
chance for BWT
On 14th July 2009, the Management Board of BWT announced that the BWT
Group, subject to approval by the General Meeting of Shareholders on 
10 August 2009 and the antitrust approval, would take over at about 
EUR 35 million the pharmaceutical water activities of Christ Water 
Technology Group, also listed on the Vienna Stock Exchange.
The takeover of the pharmaceutical water business operated with 200 
employees should bring from 2010 about EUR 35 million additional 
annual revenues and will probably have only a minor impact on 
earnings in this and in the next business year.
Andreas Weissenbacher: "The new pharma water business will leverage 
our technologies across the group to Point-of-use and nurture the 
sustainable growth of BWT. Very volatile and regionally strongly 
varying market conditions require invariably flexible decisions at 
short notice. We will continue to work together with our engaged 
employees with focus on the aim to minimise the negative effects of 
the economic situation on Group´s earnings."
end of announcement                               euro adhoc

Further inquiry note:

BWT Aktiengesellschaft
Mag. Ralf Burchert
ralf.burchert@bwt.group.com
Tel.: 06232/5011-1113

Branche: Water Supply
ISIN: AT0000737705
WKN: 884042
Index: ATX Prime
Börsen: Wien / official market

Plus de actualités: BWT Aktiengesellschaft
Plus de actualités: BWT Aktiengesellschaft