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CHRIST WATER TECHNOLOGY AG

EANS-Adhoc: CHRIST WATER TECHNOLOGY AG
CHRIST reports preliminary figures as per 30.09.2009 prior to the expiry of the Acceptance Period of the GLV takeover offer

  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.
Company Information
16.11.2009
With respect to the expiry date Nov 17th, 2009 (4:00 pm) of the voluntary public
takeover offer bid of GLV Inc (via Eimco Water Technology GmbH) to the
shareholders of Christ Water Technology AG, the executive board of CHRIST
decided to report preliminary key figures for the quarter ended Sept 30th, 2009
(Q1 - Q3 results).
"The third quarter was dominated by the ongoing reshaping of CHRIST in a still
challenging economic environment and ended with the Closing of the sale of the
Pharma & Life Science business as per Sept 30th, 2009. The proceeds of this
transaction were a vital contribution to re-arrange and finance the streamlining
and focusing of CHRIST to the future core businesses in Ultrapure Water, Process
Water & Reuse and Municipal Water Treatment / Desalination (the continuing
operations)", says Malek Salamor, CEO of CHRIST
Besides the Food & Beverage activities, where CHRIST further evaluates the
possibility of entering into a strategic alliance, also the Pharma & Life
Science business will be reported in Q3 as discontinued operations.
Preliminary Key Figures Q1-Q3 2009 (YTD compared to prior period):
• Net Sales EUR 107 million (-23% continuing operat.) EUR 171 million
(-24%, contin.+discont.) • Order intake EUR 150 million (+56%; 
continuing operat.) EUR 203 million (+8%; contin.+discont.) • Orders 
on hand EUR 147 million (+13%; continuing operat.) EUR 160 million 
(-14%; contin.+discont.) • EBIT EUR -2.1 million (EUR -4.5 million); 
continuing operations • Net Result EUR -1.2 million (EUR -14 million 
as per 30.09.08); continuing.+discontinued operation including the 
special effect from sale of pharma business
• Equity EUR 35.8 million as per 30.09.09 (EUR 37 million as per 31.12.08)
• Net Debt EUR 45 million as per 30.09.09 (EUR 55 million as per 31.12.08) EUR
30 million as per 02.10.09 after receipt remaining cash of pharma transaction
Preliminary Key Figures Q3 2009 (compared to Q3 2008)
• EBIT EUR -3.0 million (EUR -4,5 million); continuing operations
• Net Result EUR -3.8 million (EUR -6.2 million); continuing 
operations; EUR 3.4 million (EUR -15.5 million); 
continuing.+discontinued operations including the special effect from
sale of pharma business
Operating result in continuing operations was hit by weak markets in 
the industrial sector, including the microelectronics and general 
industries where some expected order intakes have been further 
delayed, thus resulting in an under-utilisation in CHRIST Ultrapure 
and Process Water entities. Good market conditions and healthy 
business activities can be reported from Municipal Water Treatment 
Division. The cleaning and phasing out of loss-making projects in 
power as well as in MWT also contributed to the negative result in 
Q3.
The realised profit out of the sale of Pharma & Life Science business
was negatively impacted by a slowdown in several pharma markets in Q3
and the cost of settlement of P&LS  activities and projects in the 
course of the selling process.
Outlook
Malek Salamor: "It is a disappointing quarterly result for us, 
especially if we look back on the positive restructuring jobs we have
done so far. But weak market conditions in important areas resulted 
in further delays of project awards with immediate loss implication 
in some key companies. Although the timing for placement of orders 
always leaves room for uncertainty, we are confident to receive new 
important double-digit million orders in the continuing business in 
Q4 2009. The solid backlog at end of 2009 will be a strong base for 
recovery and return to profitability."
In the light of still volatile markets, lagging impacts of 
restructuring steps and the requirement of a sound financial basis 
the executive board of CHRIST still supports the takeover offer of 
GLV Group which would combine two technologically and regionally 
mostly complementary groups of companies into a globally leading 
water technology provider.
The full Quarterly Report will be published on November 27th, 2009.
end of announcement                               euro adhoc

Further inquiry note:

Christ Water Technology AG
Mag. Ralf Burchert
ralf.burchert@christwater.com
Tel.: 06232/5011-1113

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

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