BWT Reports First Quarter Results Increasing Investments
In the first quarter of 2013, the BWT – Best Water Technology – Group increased its consolidated revenues by 0.6% to €119.8 million. „Our strategy of brand building of BWT with the end consumer yields first benefits that allow us to increase Group revenues despite strong revenue declines in Southern Europe and Scandinavia“, says Andreas Weissenbacher, CEO of the BWT Group about the first quarter 2013.
Revenues in the Point of Use business rose by 14.4% this year to €11.9 million, thus accounting for 9.9% of consolidated revenues (previous year: 8.7%). EBIT decreased by €0.7 million to €6.0 million due to greater material and staff costs. Consolidated earnings after non-controlling interests came to €3.6 million in the first quarter of 2013, down 17.6% on the previous year’s value of €4.3 million. Earnings per share were €0.21, against €0.26 in the previous year.
Investments in fixed assets rose from €4.9 million to €7.5 million in the first quarter. The most important ongoing investment project is still the expansion of production and logistics capacity for the Point of Use business at the Mondsee site.
As at 31 March 2013, gearing was 22.4%, against 14.2% for the same period of the previous year and 13.7% at 31 December 2012. At the end of March 2013, the equity ratio posted in BWT’s consolidated balance sheet was 45.0%, compared with 48.2% in March of the previous year and 47.7% at the end of 2012.
Outlook
Andreas Weißenbacher: „For the current financial year, we expect to achieve a slight increase in consolidated revenues. However, the additional costs in the Point of Use business and the difficult market situation, particularly in Southern Europe, will not allow any increase in profits in 2013.“
Source: BWT Wassertechnik GmbH
