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BWT "on target" in Q3 after increase in revenues and EBIT

12.11.2010 7:00   Mondsee
  • Revenues +16.3 % to € 345.2 million

  • EBITDA +16.5 % to € 38.4 million

  • EBIT +7.6 % to 26.5 million

  • Net result -9.7 % to € 20.0 million

 

„We are on track with realising our strategic goal to transform the brand ´BWT – The Water Company´ into a consumer brand and thus making BWT - synonymous with perfect drinking water - even more popular“, says Andreas Weissenbacher, CEO of the BWT Group about the third quarter 2010.

 

The BWT Group's consolidated revenues increased in the period of January to September by 16.3 % from € 296.9 million to € 345.2 million. All in all, revenues in the point-of-entry business increased by 14.3 % in the first nine months. Revenues in the point-of-use business recorded 44.4 % growth.

 

Earnings before interest and taxes (EBIT) amounted to € 26.5 million at the end of September, which represents a 7.6 % improvement compared with the previous year's figure of € 24.6 million. The increased fixed-asset depreciation in the point-of-use business and in connection with the new Pharma activities, together with a goodwill impairment made in the previous quarter, have led to additional depreciation expenses amounting to € 3.8 million. EBIT accounted for 7.7 % of revenues, compared with 8.3 % in the previous year. In the third quarter, EBIT rose by 17.5 % to € 7.3 million, thereby accounting for 6.4 % of revenues as in the previous year.

 

The BWT Group's consolidated earnings after minority interests in the first three quarters of 2010 amounted to € 20.0 million, a decline of 9.7 % compared with the previous year (€ 22.1 million). Net profit amounted to € 5.4 million in the period of July to September, slightly exceeding the previous year's figure of € 5.3 million. Earnings per share as at September 30 amount to € 1.16 (previous year: € 1.27).

 

Outlook

Andreas Weissenbacher: “Individual regions such as Spain and Eastern Europe continue to exhibit adverse market conditions. Furthermore, strikes carried out recently in France pose a threat to the economic recovery of this important country. In spite of the positive results thus far in 2010 and the currently good order situation, it remains a challenge to compensate the strong financial results achieved in the previous year, which were brought about by the sale of an investment, with operating growth thus reaching last year´s consolidated net earnings.

 

Overview - Quaterly Reports

 

Contact:
Andreas Weißenbacher, CEO

Phone: +43 (0)6232 5011 1111
Gerhard Speigner, CFO

Phone: +43 (0)6232 5011 1112
Josef Nußdorfer, CEFA, Investor Relations & Communications

Phone: +43 (0)6232 5011 1113, Fax +43 (0)6232 5011 1109,
E-Mail: Josef.Nussdorfer@bwt-group.com

BWT-AG, A-5310 Mondsee, Walter-Simmer-Str. 4