euro adhoc: CHRIST WATER TECHNOLOGY AG / Earnings Forecast / CHRIST announces profit improvement programme and new EBIT guidance

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Company Information

10.10.2008

The new Management Board has taken the decision today to
significantly improve profitability. The measures taken include the
comprehensive restructuring of low and non profitable businesses and
the sustaining reduction of overhead cost.

"After having completed a detailed review of our organization, we are
now taking measures to improve profitability through creating a lean
and efficient organization. The focus on strong and profitable
businesses combined with a significant reduction of overhead cost
will result in savings of close to 6 million EUR annually. Half of
the savings will be re-invested in technical capabilities and
increased R+D activities. The cost reduction and the higher level of
technical and engineering capabilities will improve EBIT
substantially in 2009. These actions are necessary to lift earnings
to a higher level within a relatively short period of time and to
ensure a leaner and more competitive organization." says Malek
Salamor, CEO of Christ Water Technology Group.

CHRIST expects for the current year an EBIT of approx. - 2 million
EUR. This result includes the one-time impact of impairments and
costs of discontinued activities and operations of approx. 4 million
EUR. Furthermore, in the second half of 2008 costs and provisions of
approx. 4 million EUR will be booked for the completion and
termination of inactive and loss making projects in the power and
food and beverage industries.

The actions taken together with the improved capabilities and the
leaner organization will result in higher flexibility and
productivity with less complexity in the corporate structure. For
2009, based on today´s order book and the market situation in water
technology, CHRIST management expects a substantial positive result
in 2009. "Going forward, with focus and discipline we are convinced
to have all what it takes to be successful in our markets: excellent
technologies, satisfied and loyal customers, qualified and committed
employees build during the 70 years since the foundation of CHRIST in
1939," says Malek Salamor.

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 Aktiengesellschaft

Mag. Ralf Burchert

ralf.burchert@christ-water.at

Tel.: 06232/5011-1113

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