BWT On Target in Q3 After Increase in Revenues and EBIT
The BWT Group s consolidated revenues increased in the period of January to September by 16.3% from €296.9 million to €345.2 million. All in all, revenues in the point-of-entry business increased by 14.3% in the first nine months.
Revenues in the point-of-use business recorded 44.4% growth.
Earnings before interest and taxes (EBIT) amounted to €26.5 million at the end of September, which represents a 7.6% improvement compared with the previous year s figure of €24.6 million. The increased fixed-asset depreciation in the point-of-use business and in connection with the new Pharma activities, together with a goodwill impairment made in the previous quarter, have led to additional depreciation expenses amounting to €3.8 million. EBIT accounted for 7.7% of revenues, compared with 8.3% in the previous year. In the third quarter, EBIT rose by 17.5% to €7.3 million, thereby accounting for 6.4% of revenues as in the previous year.
The BWT Group s consolidated earnings after minority interests in the first three quarters of 2010 amounted to €20.0 million, a decline of 9.7% compared with the previous year (€22.1 million). Net profit amounted to €5.4 million in the period of July to September, slightly exceeding the previous year s figure of €5.3 million. Earnings per share as at September 30 amount to €1.16 (previous year: €1.27).
„We are on track with realising our strategic goal to transform the brand ´BWT – The Water Company´ into a consumer brand and thus making BWT - synonymous with perfect drinking water - even more popular“, says Andreas Weissenbacher, CEO of the BWT Group about the third quarter 2010.
Andreas Weissenbacher: “Individual regions such as Spain and Eastern Europe continue to exhibit adverse market conditions. Furthermore, strikes carried out recently in France pose a threat to the economic recovery of this important country. In spite of the positive results thus far in 2010 and the currently good order situation, it remains a challenge to compensate the strong financial results achieved in the previous year, which were brought about by the sale of an investment, with operating growth thus reaching last year´s consolidated net earnings.
Source: BWT Wassertechnik GmbH