euro adhoc: CHRIST WATER TECHNOLOGY AG / Financial Figures/Balance Sheet / CHRIST reports weaker first half-year and lowers full year outlook

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6-month report

14.08.2008

• Order intake: EUR 123.8 million (-7.2%)
• Order book: EUR 197.6 million (+7.7%)
• Net Sales: EUR 154.8 million (+16.8%)
• EBITDA: EUR 6.4 million (+13.9%)
• EBIT: EUR 3.5 million (-13.6%)
• Full year outlook: Sales EUR >330 million, EBIT: EUR 7.0-9.0 million

"We are looking back at a difficult second quarter which saw our efforts to
improve profitability being undone by further cost increases at current
long-term projects, integration measures at recently acquired group companies as
well as delays of key project awards," comments Karl Michael Millauer, CEO of
Christ Water Technology Group the results of the second quarter 2008.

In the first six months of 2008, the CHRIST Group´s order intake
decreased by 7.2% to EUR 123.8 million (previous year: EUR 133.4
million), or by 31% to EUR 54.8 million in the second quarter. This
is chiefly attributable to the minimum margin policy involving the
planned reduction of activities in the power plant business of the
Ultrapure Water Division as well as delays in municipal contract
awards. Orders on hand amount to EUR 197.6 million (previous year:
EUR183.5 million) representing an increase of 7.7% over the last
year.

Consolidated sales for the first six months of the year climbed by
16.8% to EUR 154.8 million (previous year: EUR 132.5 million).
However, at 2%, growth in Q2 to EUR 70.8 million did not meet
expectations. Following a pleasing Q1, for the first six months, EBIT
fell to EUR 3.5 million (previous year: EUR 4.1 million) due to the
lower revenues, the sustained effects of cost increases in terms of
long-term contracts as well as continued restructuring costs for
recently acquired companies. Q2 EBIT amounted to EUR -0.7 million
(previous year: EUR 1.7 million).

Earnings before taxes (EBT) fell to EUR 2.8 million (previous year:
EUR 4.0 million) in the first half and was EUR -1.1 million in the
second quarter. Payment of taxes for prior years led to a cumulative
tax rate of around 46% (previous year: around 40%). The net profit
for the period decreased to EUR 1.5 million (last year: EUR 2.8
million) following a Q2 result of EUR 0.8 million (last year: EUR 1.5
million).

Group equity (including minority interest) increased compared to
December 31, 2007 by 3.5% from EUR 63.8 million to EUR 66.1 million.
The equity ratio rose accordingly from 27.7% to 29.1%. Cash flow from
operating activities of EUR -11.4 million indicate growth-oriented
operating activities that are still underfunded on the project side,
as was the case in the previous year (EUR -12.8 million).

Outlook

Based on the current economic situation and the existing orders on
hand as well as the numerous positive opportunities for contracts due
to the upcoming project awards in the second half of the year the
Management Board expects growth in consolidated net sales for the
2008 fiscal year to EUR 330 million. Because of negative earnings in
Q2, we now expect a double-digit increase of EBIT for 2008 to between
EUR 7 million and EUR 9 million.

The full Half-Year Financial Report is available on
www.christwater.com

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

Further inquiry note:

Christ Water Technology Group

Mag. Ralf Burchert

ralf.burchert@christwater.com

Tel.: +43 (0)6232/5011-1113

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