BWT discloses results for the third quarter 2012
Revenues +5% to € 380 million
EBIT -3% to € 20.6 million
Net result +2% to € 13.8 million
Outlook for the full year unchanged: Revenues € 500 million, stable net result
The BWT – Best Water Technology – Group generated consolidated revenues of € 380.0 million in the first three quarters of the 2012 financial year. Revenues climbed by € 18.2 million or 5.0% as against the previous year. BWT generated above average growth with its Point of Use products; € 30.9 million signifies an increase in revenues of 17.5% as against the previous year and 8.1% (previous year: 7.3%) of revenues. Cumulatively after the first nine months, the BWT Group generated EBIT of € 20.6 million, 3.2% less than in the previous year (€ 21.3 million). Consolidated earnings after non-controlling interests amounted to € 13.8 million after the first nine months and were therefore 2.3% higher than the previous year’s figure (€ 13.5 million) thanks to improved financial result and the slightly lower tax cost. In the third quarter consolidated earnings amounted to € 2.4 million after around € 2.8 million in the previous year. Earnings per share rose by 3.8% year-on-year to € 0.82 as at the end of September as compared to € 0.79 in the previous year.
Capital expenditure rose sharply as against the previous year from €16.2 million to € 28.9 million. While the BWT Group’s net debt increased from € 22.9 million in the previous year to € 31.4 million as at 30 September 2012, the gearing (defined as net financial liabilities in relation to equity) is at a low 18.3% after 14.1% in the previous year. The BWT Group’s equity ratio was 48.1% as at 30 September 2012 and was therefore unchanged as against the previous year’s figure.
The attainment of the goals advised to date for the current financial year, namely of consolidated revenues of € 500 million and repeating the previous year’s consolidated earnings of € 14 million, is still realistic.
Andreas Weissenbacher: „We are aware that this strategy will squeeze earnings performance in the short to medium term on account of the ongoing investments for structural development and advertising, especially in the ´table water filters´ product area. On the other hand, the new market presence of ´BWT – For You and Planet Blue´ in BWT’s classic Point of Entry business will lead to positive push and pull effects and therefore support sales in the long term. For 2013 we plan investments of more than € 50 million.“