euro adhoc: BWT Aktiengesellschaft
Financial Figures/Balance Sheet
BWT
reports record results for 2007 and takes further steps for growth
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annual report
28.03.2008
Sales +9.8% to EUR 397.5 million EBIT +7.9% to EUR 35.2 million Net income +19.1% to EUR 26.4 million
"Raw materials, energy and water, against the background of massive price increases, demand growth and the climate change, constitute imminent challenges - for us in BWT as well as the people on earth. Also in 2007, we have grown sales and earnings with innovative, compact water treatment systems in our market and prepared for further dynamic growth by making strategically important investments," says Andreas Weissenbacher, CEO of the BWT Group, commenting the year 2007 results.
During the 2007 financial year, the BWT Group generated consolidated sales of EUR 397.5 million and thus exceeded the previous year´s result (EUR 362.0 million) by 9.8%. Point-of-use and the service and spare part business each generated approximately one fifth of the consolidated sales growth, while around 60% (EUR 20.6 million) came from the point-of-entry business, the core business of BWT.
With an increase of 7.9% to EUR 35.2 million, the increase in EBIT lagged behind the sales growth due to higher material prices and changes in the product mix. The improved financial result and a more favorable income tax rate resulted in a net profit of EUR 26.4 million, 19.1% higher than 2006 and better than the initial forecasts.
Group equity was EUR 129.6 million on December 31, 2007 (previous year: EUR 109.2 million), which meant an improvement in the equity ratio from 42.6% to 45.2%. In 2007, net debt in the BWT Group increased from EUR 24.7 million to EUR 26.5 million, while gearing (net debt/equity ratio) improved from 22.6% to 20.4% due to the higher level of own funds.
Investments grew by 40% to EUR 15.1 million. The most important investment projects of 2007 were concerned with the development and expansion of production capacities for the point-of-use business. The number of employees rose by 7% to 2,354.
With the improvement in earnings and the healthy balance sheet situation, the Management Board are proposing the Annual General Meeting that the dividend be raised by EUR 0.03 or 8.6% to EUR 0.38 per share.
Outlook
"BWT management will pursue in 2008 also geographical expansion primarily in the growth markets of Eastern Europe and Asia as well as the expansion of the product range, especially in the so-called "point-of-use" area. Consolidation of the organization in Hungary and expansion of activity in the growing Russian market are two of objectives on the agenda for the coming financial year", says Andreas Weissenbacher.
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Further inquiry note:
BWT Aktiengesellschaft
Ralf Burchert, CEFA
Phone: +43 6232 5011 1113
ralf.burchert@bwt-group.com
Branche: Water Supply
ISIN: AT0000737705
WKN: 884042
Index: ATX Prime
Börsen: Wiener Börse AG / official market
Original content of: BWT AG, transmitted by news aktuell