BWT Announces Results for First Half-year 2014
In the first half of 2014, consolidated revenues of the BWT – Best Water Technology – Group declined by 0.8% year on year to €255.4 million. Adjusted for changes to the Group structure, consolidated revenues were up 5.4% on the previous year’s level.
Taking these changes into account, increased revenues were achieved in all segments – with the exception of the Italy / Spain segment. Revenues in the Point of Use segment were up 14.9% on the previous year.
As in the first three months of 2014, the earnings situation of the BWT Group in the second quarter was also characterised by increased advertising expenditure and by the difficult market conditions in the France / Benelux and Italy / Spain segments. In the first half of the year, EBIT fell by €2.8 million year on year to €13.4 million, and consolidated earnings after non-controlling interests declined from €10.5 million to €8.0 million.
The expansion of production and logistics capacities in the Point of Use segment at the Mondsee site was largely completed in the first half of 2014. This project and the construction of the new plant for membrane production and pharmaceutical water activities in Germany drove investments in fixed assets up from €15.4 million in 2013 to €16.8 million. As at the end of June, the net debt ratio stood at 27.7% (previous year: 23.9%) and the equity ratio dipped slightly from the previous year’s figure of 45.8% to 45.5%.
Outlook
Chief Executive Officer, Andreas Weissenbacher: “The advertising measures aimed at developing the BWT brand with the message ‘BWT – For You and Planet Blue’ have demonstrated that they not only boost growth in the Point of Use business but also bolster the BWT Group’s core business – water treatment products, facilities and services at the point of entry – in the long term. We anticipate revenues of just under €500 million for 2014 as a whole.”
Source: BWT Wassertechnik GmbH
