Sales exceeding 500 million Euro
Revenues +4.9% to € 502.3 million
EBIT +2.3% to € 22.2 million
Net result +4.7% to € 14.4 million
Dividend proposed at € 0.28 (unchanged)
BWT Group met the target plan in 2012, for the first time achieving more than € 500 million in sales in the financial year. At € 502.3 million, the previous year´s figure was improved by € 23.4 million, or 4.9%. BWT generated above average growth with its Point of Use products: € 41.8 million signifies an increase in revenues of 20% as against the previous year and 8.3% (previous year: 7.3%) of revenues.
Due to further increases in expenses for the brand building of “BWT” and extensive measures for the launch and build-up of the Point of Use business, the Group income has advanced only slightly. EBITDA grew by 4.3% to € 40.8 million, EBIT added 2.3% from € 21.7 to € 22.2 million and net earnings before minorities inched up 4.7% to 14.4 million. In addition, the lower number of outstanding shares, among other factors, led to higher earnings per share by 7.6% from 0.80 € in the previous year to 0.87 € in 2012.
Despite high capital expenditure, the balance sheet remained sound: Gearing, net financial debt to equity capital, increased only slighty to close to €37 million, from 10.5% to 13.7% as at 31.12.2012 despite heavy investments into fixed assets of close to €37 million. The number of employees rose from 2,689 to 2,726 persons.
The Management Board plans to propose the upcoming Annual General Meeting an unchanged payment of dividend of € 0.28 per share.
The measures geared towards building up the brand BWT with the claim „For You and Planet Blue“ as the leading water brand and associated investments required for the Point of Use product segment in particular will be continued according to plan in 2013. As a result of further increases in advertising expenses, depreciation of fixed assets and financing costs, no growth in earnings can be expected despite higher revenues.