BWT AG
Ad hoc-Service: BWT AG Result first half year 1998
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Ad hoc-Service: BWT AG Result first half year 1998
Ad hoc-Mitteilung übermittelt durch die DGAP.
Für den Inhalt der Mitteilung ist allein der Emittent verantwortlich.
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BWT- Best Water Technology:
Strong turnover and earnings increase during the first half year
BWT – Best Water Technology – Group, Europe’s market leader in
water treatment, continued its successful development during the
first half of the 1998 business year. Our high expectations for
the current business year were met not only in terms of turnover
growth but also regarding results.
Group turnover grew to ATS 1.55 billion or by 20.1% compared with
the previous year
During the first half of the 1998 business year, consolidated
turnover of BWT Group increased by 20.1% compared with the
previous year, to ATS 1,549.9 million. Organic like-for-like
growth amounted to 6%, the remainder stems from newly acquired
companies (Kennicott, Aqua Engineering). All the business areas
with the exception of commercial and industrial technology were
able to record commendable increases. The development of the
individual business areas was as follows:
in ATS million
Business area 1998 1997 +/-%
Domestic technology 461.1 358.3 +28.7%
Commercial and industrial technology 270.0 268.2 + 0.7%
Project engineering 526.9 384.9 +36.9%
Service, Fittings, Swimming Pool 291.9 279.2 + 4.5%
TOTAL 1,549.9 1,290.6 +20.1%
The strong growth recorded in the area of domestic technology
largely results from the new limescale protection device ‘AQA
total’, the revolution in water treatment technology, which
generated total turnover of ATS 97.8 million in Austria, Germany
and Belgium during the first half of 1998. The launch into the
Italian market is imminent, and cooperation agreements for
distribution in the U.S.A. are in preparation. Business in
commercial and industrial technology continued to be affected by
reluctance to invest on the part of industry, but growth impact
is expected to be gained from new AQA total plants with a
capacity of up to 28 m3 per hour.The increases in the areas of
project engineering during the first six months are mainly due to
the newly consolidated companies in this business area, Kennicott
Water Systems and Aqua Engineering. A period of stagnation in demand
for service and spare parts combined with growth rates of 7% each in
swimming pool technology and fittings, resulting in an overall growth
of 4.5% in the business area of Service, Fittings, Swimming Pool.
The Austrian companies increased their turnover by 13.5% during
the first half of 1998, the German companies by 15.6%. Belgium,
at 41.6% and Eastern Europe, at 58.4%, were significantly above
average with regards to their business expansion. France, Italy
and Spain experienced very moderate increases of 2%.
Order book as of 30 June 1998: ATS 705 million
(+74% compared with previous year)
Orders on hand at mid-year and expected to be invoiced during
1998 amounted to ATS 705 million, an increase of 74.3% over the
comparable date of the previous year. The main drivers behind
this increase were the newly acquired project engineering
companies Kennicott and Aqua Engineering.
Operating result up 44.8%, Result from ordinary activities up
12.1%, net profit up 34%
Compared with the previous year, the operating result increased
from ATS 78.3 million to ATS 113.4 million (+44.8%) during the
first half of 1998. The relative increase in the cost of
materials, a result of the significant growth in the proportion
of the project business, was more than compensated for by lower
personnel costs as a percentage of turnover. Financial results
decreased due to lower income from securities and participations,
from an income of ATS 11.5 million to a negative result of ATS
12.7 million. Earnings from ordinary operating activities,
however, rose to ATS 100.7 million (previous year: ATS 89.8
million). Net profits grew by 34%, from ATS 54.4 million to ATS
72.9 million. Despite a significant increase in marketing outlay
for AQA total, our goal of raising earnings by more than turnover
was attained.
Number of employees as of 30 June 1998: 1561
The number of employees increased by 104 during the first six
months of the current business year; when comparing the end dates
of the first half of the respective business years, the
comparable increase amounted to 154. The addition was mainly due
to employees joining from the newly consolidated companies.
Investments in tangible assets increased to ATS 63.6 million
During the first half of 1998, group-wide investments amounted to
ATS 63.6 million. Of this, more than ATS 21 million represented
assets acquired by Kennicott, U.K. Also, the new distribution
centre for BWT Polska in Warsaw was completed during the reporting
period; additionally, work started on the new production and R & D
centre for AQA total at our Mondsee headquarters. We have budgeted
a total of ATS 100 million for this project.
Target for 1998: Group turnover of ATS 3.1 billion
The very positive developments during the first six months of the
current business year and the current order position appear to
provide a good basis for the achievement of our planned group
turnover of ATS 3.1 billion (up 18% on the previous year).
Intensive marketing and further development efforts, in
particular for the revolutionary IQ-Technology in the AQA total
domestic water treatment device, will continue to ensure our
market leadership role in Europe and provide the bases for
further internationalisation of the business. The BWT – Best
Water Technology – group of companies expects ÖVFA earnings of
ATS 220 million.
Ende der Mitteilung
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