BWT growing due to Point of Use products and
- Revenue +2.3% to €257.6 million
- EBIT -4.2% to €16.2 million
- Net income €10.6 million after €11.4 million
- Outlook 2013 Revenue growth, decline in earnings
Setting new standards of hygiene, safety and health, the environment and efficiency in the industry, our product innovations, like the E1 Single Lever Filter, the AQA perla soft water technology or the Gourmet Magnesium Table Water Filter, are the growth drivers of BWT in generally difficult market conditions in the first six months of the year“, says Andreas Weissenbacher, CEO of the BWT Group.
In the first half of 2013, the BWT – Best Water Technology – Group increased its consolidated revenues by 2.3% year on year to €257.6 million. In the second quarter, revenues increased by 3.9% to €137.7 million. Revenues generated by Point of Use products increased by 22.5% in the second quarter.
The additional costs associated with the expansion of the Point of Use business, the difficult market situation in Southern Europe and the decline in public contracts did not allow any improvements to earnings. After six months, EBIT amounted to €16.2 million, which equates to a decrease of 4.2% on the previous year’s figure. Earnings came to €10.1 million in the second quarter, matching the previous year’s figure. As at the end of June 2013, consolidated earnings were €10.6 million compared with €11.4 million in the previous year.
In the first half of the year, capital expenditure rose to almost €15 million (previous year: €11.9 million), the net debt ratio stood at 23.9% (previous year: 16.2%) and the equity ratio decreased from 48.2% to 45.8% compared with the result for last June.
Andreas Weißenbacher: „Based on the developments in the first half of the year and the current market situation, we expect to achieve a slight increase in consolidated revenues for the current financial year with slightly lower consolidated earnings. The continuing solid net assets and financial position of the BWT Group provides a healthy basis for the successful implementation of the planned expansion measures.“