euro adhoc: SW Umwelttechnik Stoiser & Wolschner AG / Financial Figures/Balance Sheet / SW Umwelttechnik: results press conference

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annual report

23.04.2008

* EBIT up by 12% * Record E26.4 million investment programme *
Expansion in Romania and market build-up in Bulgaria and Serbia
slated

Vienna, 23 April: After successfully fighting a harsh trading
environment - especially in Hungary and Romania - today at the
results press conference joint chief executives Dr. Bernd Wolschner
and DI Klaus Einfalt unveil SW Umwelttechnik's results for 2007.
Despite the difficult conditions they can - due to the realisation
of a record investment programme - unveil a creditable result. And
the outlook for 2008 is good.

Revenue Revenue decreased by 6% to EUR 91.2m in 2007 (2006: EUR
101.9m). The main reasons for this were government spending cuts in
Hungary which led to a sharp decline in municipal contract awards,
as well as hold-ups in major EU funded projects in Romania.
Part of the lost ground was made up by increased deliveries
to commercial and industrial customers, and exports to countries
bordering core markets.

Our main geographical market, Hungary accounted for EUR 57.2m or 60%
of total revenue in 2007, compared to E67.5m or 66% in the previous
year. As expected, the revenue contribution of the Austrian market
shrank to EUR 19.3m or 20% (2006: EUR 23.0m, 23%), due to the
works closures in 2006. The revenue share generated in Romania
was below forecast due to delays in EU projects, only edging up
to EUR 8.6m or 9% (2006: EUR 7.8m). By contrast exports from
Hungary to Slovakia jumped from EUR 1.0m to EUR 6.6m (7%), while
the proportion of revenue derived from "other" countries (Croatia,
Germany, Italy and Slovenia) almost doubled to EUR 4.0m or 4%
(2006: EUR 2.3m).

A particularly satisfactory performance from the Infrastructure
sector in 2007 boosted its revenue contribution to 51% from 43%
in 2006. The main factor behind this success was strong order
bookings from industrial and commercial clients. The proportion
of revenue accounted for by the Water Conservation sector edged
down to 30% (2006: 32%), while the Engineering sector was hardest
hit by the public spending cuts in Hungary and its segmental
contribution slid to 19% (2006: 25%).

Earnings Earnings before interest and tax (EBIT) improved again, by
12% to EUR 4.6m (2006: EUR 4.1m) despite the adverse trading
environment. Some EUR 2m in non- capitalised start-up losses in
Romania are recognised in this figure. EBITDA was up by 2% to a
record EUR 9.4m (2006: EUR 9.2m). The sharp devaluation of the
Romanian lei towards the end of 2007 resulted in a pronounced
deterioration in net finance costs, as the remeasurement of the
investment loans at balance sheet date led to an unrealised exchange
loss. Due to this effect net finance costs increased to EUR
3.3m (2006: EUR 1.2m), cutting profit on ordinary activities (POA)
to EUR 1.2m (2006: EUR 2.9m). Due to positive earnings
expectations deferred tax assets were recognised, and as a result
the profit for the period held at EUR 1.7m (2006: EUR 2.1m).

Assets and finances Total assets rose by 26% to EUR 120.2m (2006: EUR
95.5m). The reasons for the increase lay in the heavy investment
programme, as well as the reclassification of the property in
Csepel, which is surplus to operational requirements and is being
held for sale.

Non-current assets were up by 30.8% from EUR 57.9m to EUR 75.7m,
reflecting the expanded investment programme amounting to EUR 26.4m.
The effect on non-current assets of currency differences arising
from movements in the HUF and RON exchange rates totalled EUR
0.5m (2006: EUR 0.7m).

Equity increased from EUR 26.5m to EUR 27.2m due to strong
earnings. However the equity ratio slipped from 27.7% to 22.6%.

The extensive investment programme was financed by cash flows from
operating activities and increased long-term borrowings.

Employees The average head count decreased by 5% to 797 in 2007
(2006: 836) bringing it into line with reduced output. In 2007
the Austrian workforce averaged 153 (2006: 193), the Hungarian
payroll 542 (2006: 583), and the number of employees in Romania 102
(2006: 60). The start-up of the new factory in Bucharest has
expanded the Romanian labour force to about 200.

Capital expenditure 46% of the record capital expenditure of EUR 26.4
m in 2007 was channelled to the construction of new production
facilities in Romania, while 46% was devoted to plant expansion and
modernisation projects in Hungary - most of the money going to
the final expansion phase at the South Budapest site - and 8%
to restructuring programmes at the Austrian sites. Investment
spending was mainly focused on the Infrastructure sector.

Order backlog Order backlog of EUR 46.0m at balance sheet date
was the highest in SW Umwelttechnik's history, and represented a
year-on-year gain of 77% (2006: EUR 25.9m). Order backlog climbed
to EUR 30m in Hungary (2006: EUR 17m) and to EUR 12m in Romania
(2006: EUR 6m). The upturn in order intake was particularly
gratifying in the light of the difficult market conditions in
Hungary and Romania.

Dividend recommendation Due to the group's positive operating
performance the Management Board will be recommending a divided of
E0.30 per share for the 2007 financial year (2006: E0.30/share).

Outlook The markets in Central and Southeastern Europe continue
to offer excellent prospects. Above-average growth rates are likely
to persist for some years to come - especially in Romania. Our
record investment programme has laid the groundwork for the
long-term consolidation of our position in these markets. During the
year under review we pressed ahead with rigorous restructuring
programmes in Austria, and turnaround was achieved. The increase
in order backlog gives us a strong platform for a further
improvement in the results of the Austrian operations in 2008.

Despite the collapse in construction activity in Hungary in
2007 we kept results in this market close to the previous year's
levels thanks to hard work and good project management. We do not
expect business to pick up in Hungary until the third quarter of
2008. Implementation of the major EU projects in the pipeline should
begin in the autumn. Due to the excellent order books situation and
the expectation of additional major contract wins, management
expects at least modest year-on-year revenue growth, contrary to
the forecasts for the industry as a whole.

In Romania, the commissioning of the Bucharest works in November
2007 has opened the way for the coming expansion phases.
Implementation of Phase II in 2008 will bring capacity for the
Water Conservation sector. Due to a number of delays in the EU
support programmes many projects that were to have been
implemented in 2007 have been put back to 2008 or beyond. The new
Bucharest works should make a positive contribution to Group
earnings. Due to the expected delays in EU funded projects
management has shifted the focus in this market to industrial and
commercial projects in 2008.

Development of the neighbouring Bulgarian, Moldavian, Serbian and
Ukrainian markets will proceed, using products exported from Hungary
and Romania. We plan to build additional factories in these
countries, and the first negotiations on land purchases have been
initiated. Our policy of using land that is surplus to

operational requirements after new plants have been built and commissioned as
an additional source of income remains in place.

Financial highlights
|In Em |2007 |2006 |2005 |
|Revenue |96.1 |101.9 |91.2 |
|EBIT |4.6 |4.1 |3.9 |
|EBITDA |9.4 |9.2 |8.6 |
|POA |1.2 |2.9 |1.9 |

Founded in 1910, SW Umweltechnik remains a family business, though it
has been listed on the Vienna Stock Exchange since 1997. The
company is widely identified with sustainable enterprise and
rapid expansion in Central and Southeastern Europe. Its
innovative environmental technology products are contributing to
infrastructure renewal in CSE countries.

end of announcement euro adhoc
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ots Originaltext: SW Umwelttechnik
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Dr. Bernd Wolschner

Member of the Management Board

Tel.: +43/7259/31 35 0

Fax: +43/463/37 667

Romed Lackner

Investor Relations/Marketing

Tel.: +43/664/811 76 70

Fax: +43/463/37 667 170

E-Mail: romed.lackner@sw-umwelttechnik.com

Website: www.sw-umwelttechnik.com

Branche: Technology
ISIN: AT0000808209
WKN: 910497
Index: WBI
Börsen: Börse Berlin / free trade
Börse Frankfurt / free trade
Wiener Börse AG / Regulated free trade