BWT grows sales by 8% in the second quarter
„The second quarter was marked by the launch of the brand BWT with end consumers and ongoing capital investment. The successful start of our table water filter campagin on TV, in print media and online in Germany and Austria was the highlight concluding the second quarter“, says Andreas Weißenbacher, CEO der BWT – Best Water Technology Group.
The BWT Group’s consolidated revenues rose by 8.1% in the second quarter and by 5.7% in the first half of the year from €230.4 million to €243.5 million. On a cumulative basis, the Point-of-Use products achieved a revenues upturn of almost 22%; in the second quarter, gains in revenues surged by 39.4%, accounting for approximately 7% of the Group’s consolidated revenues. With the increased advertising expenditure for the market launch of the new BWT magnesium table water filter setting in, as expected, earnings decreased in Q2. The increased advertising will also serve to boost the expansion of the BWT brand name as THE leading international “water brand” in the long term.
Cumulative EBIT decreased by 11.7% overall in the first half of the year from €19.2 million to €17.0 million. Earnings before taxes came to €15.5 million in the first half of the year (2010: €18.9 million), and €10.4 million in the second quarter (2010: €11.3 million). The Group’s consolidated net earnings after minority interests amounted to €7.2 million for Q2 (2010: €9.0 million) and €10.8 million overall for the first six months of the year (2010: €14.5 million). Earnings per share were €0.64 as at 30 June, against €0.84 in 2010.
Investment activities saw a substantial increase in 2011 and €10.6 million has already been invested in fixed assets (2010: €4.2 million). The expansion of the production, logistics and research capacity of the Mondsee site is the most significant project. The number of employees at the BWT Group went up by 1.7% against the previous year from 2,630 to 2,676 at 30 June.
Consolidated revenues for 2011 are expected to rise year-on-year to around €470 million. The positive net assets and financial position enjoyed by the BWT Group and the fact that it has substantial self-financing power form a healthy basis for the implementation of our strategy. Andreas Weißenbacher: „The campagin and the launch of our brand constitute the foundation of our market success over the next years. Extensions are planned for further countries apart from Austria and Germany, as we take a flexible approach accounting for the local market development.“