euro adhoc: CHRIST WATER TECHNOLOGY AG / quarterly or semiannual financial statement / CHRIST reports strong growth in the first three quarters 2007

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9-month report

23.11.2007

• Order intake +50% to EUR 270.1 million
• Order backlog +45% to EUR 253.5 million
• Sales +32% to EUR 199.2 million
• EBIT +20% to EUR 5.8 million
• Net income +17% EUR 2.9 million

"The strategic positioning of CHRIST in water technology for the
growth markets of the 21st century has again led to record values in
terms of both incoming orders and sales. Thanks to its growing global
presence, CHRIST participates in the momentum in the regions of the
world that are booming with regard to water technology", says DDr.
Karl Michael Millauer, CEO of the Christ Water Technology Group about
the first nine months 2007.

Order intake in the first three quarters of 2007 increased by 50% to
EUR 270.1 million (previous year: EUR 179.6 million). At EUR 253.5
million and an increase of 45% against the previous year (EUR 175.0
million), the order books were also at an all-time high.

In the first three quarters, Group sales increased by 32% to EUR199.2
million (previous year: EUR 151 million). Service and spare part
sales increased by 10% to EUR 26.4 million (previous year: EUR 24.0
million).

In the 3rd quarter, there was a below-average increase in EBIT
bringing cumulative EBIT up to EUR 5.8 million, which is a 20%
increase over the figure of EUR 4.8 million for the same period of
the previous year. Even better income development was halted by
operating and non-operating effects during the 3rd quarter. The
unexpectedly massive increase in the cost of purchasing materials and
third-party services led to higher project costs at narrowly
calculated old projects, particularly in the power station business
of the Ultrapure Water division. Another special burden resulted from
a drop in earnings with regard to the 51% participation KF
Engineering GmbH (formerly KF Service GmbH) which was acquired in
2006. The quickly implemented measures and the fact that CHRIST took
over the operating management in the light of an extremely positive
market environment are expected to ensure a clearly positive
development in the coming quarters.

Earnings before tax increased by 38% to reach a figure of EUR 4.8
million (previous year: EUR 3.5 million) due to the improved
financial result. The lower income tax rate resulting from the tax
reform in Germany led to a non-recurring effect due to the adjustment
of deferred tax assets. As a result, the cumulative tax rate
increased to around 40%. Consequently, the net income for the period
rose by only 17% to EUR 2.9 million (previous year: EUR 2.4 million).
After minorities, this results in net income for the period of EUR
3.2 million (previous year: EUR 2.6 million) for the shareholders in
the company, or EUR 0.18 per share compared to EUR 0.14 the previous
year.

Compared to December 31, 2006, Group equity (including minorities)
increased by 6% from EUR 43.2 million to EUR 45.7 million. The equity
ratio diluted from 25.8% to 23.2% as a result of growth in total
assets. At EUR -7.1 million (previous year: EUR -7.4 million), cash
flow from operating activities was only slightly better than in the
previous year despite improved cash flow from earnings due to the
growth-related increase in demand for working capital. Compared to
December 31, 2006, net debt rose from EUR 34.8 million to EUR 46.7
million.

Outlook

"In terms of the result, the 3rd quarter fell short of expectations
as a result of the special effects described at KF, in the power
station business as well as tax effects. Effective correction and
accompanying measures have already been initiated. We expect that the
subsequent impacts on earnings in these areas will be compensated for
by higher values from other business areas in the last quarter", says
Karl Michael Millauer.

On the basis of a healthy order book and a continuing high level of
incoming orders - with adjusted margins and priced-in risk
precautions for procurement cost increases - the Management Board
expects double-digit sales and net income growth for the full year
2007.

The agreement concluded after the balance sheet date with respect to
the acquisition of the Zeta Group and the ongoing integration into
the Pharma & Life Science division also contains great potential not
only for CHRIST but also for Zeta to contribute to further increases
in earnings as early as 2008.

end of announcement euro adhoc 23.11.2007 07:30:00
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ots Originaltext: CHRIST WATER TECHNOLOGY AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Christ Water Technology Group
Ralf Burchert, CEFA
ralf.burchert@christ-water.at
Tel.: +43 (0)6232/5011-1113

Branche: Biotechnology
ISIN: AT0000499157
WKN: 675399
Index: WBI, ATX Prime
Börsen: Wiener Börse AG / official market