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BWT - preliminary results 2011

13.2.2012 7:00   Mondsee

Revenue target met, earnings affected by brand building

 

  • Revenues +3.9% to € 478.8 million
  • EBIT -32% to € 21.5 million
  • Earnings per share € 0.80 after € 1.32 before
  • Dividend proposed at € 0.28 per share 
     
     

In the year 2011, reporting preliminary figures, BWT Group achieved revenues of € 478.8 million, 3.9% more than in 2010 (€ 460.7 million). On a constant consolidation basis, revenue growth was 8.9%. Group EBIT amounts to € 21.5 million (previous year: € 31.5 million). The decline of earnings is mainly due to the investment programme started in 2011, comprising spending for the further expansion of the Point of Use segment as well as costs associated with the launch of the „BWT“ brand. Net attributale income will be at € 13.5 million compared to € 22.7 million in the year before, as a result, earnings per share amounts to € 0.80 Euro (previous year: € 1.32).

At the end of 2011, despite high investments, gearing (net debt related to equity) will be below 15% as in the years before, and the ratio of equity significantly higher than 45%. Due to the considerable investments planned and the lower earnings, the Management Board will propose the upcoming Annual General Meeting a dividend of € 0.28 per share (previous year: € 0.40).

Outlook
The consumer strategy and the launch of the brand „BWT – For You and Planet Blue.“ as the leading „water brand“ and the expansion investments for development, production and logistics capacities in the Point of Use-product segment at the site in Mondsee are the foundation of growth planned for the next years.

The strong balance sheet of the Group and unique technologies like the Mg2+ technology for best mineralised, good tasting water, represent the best basis and precondition for a successful implementation. For 2012, we expect higher revenues, but as a result of increasing advertisement costs and financing costs earnings to be almost unchanged.

Final results will be disclosed on March 26th, 2012.