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BWT continues investment programme

9.11.2012 7:00   Mondsee

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.

 

Outlook
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.“