euro adhoc: CHRIST WATER TECHNOLOGY AG / Financial Figures/Balance Sheet / CHRIST pays EUR 16.6 million for power losses and clean-up

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quaterly report

21.11.2008

• Sales: +13% to EUR 225.2 million
• EBIT: EUR -9.9 million (previous year: EUR +5.8 million)
• Clean EBIT: EUR +6.7 million (+16%)
• Net income: EUR -14.0 million (previous year: EUR +2.9 million)

"Proceeding with our clean-up, in the third quarter, the assessment
of bad old projects in power in particular leads us to take another
hit in earnings to finish unprofitable business, make the company fit
in structure and create profitability potentials also in a tough
environment. We have seen delays in order decisions in some areas but
still note robust business for the time being," Malek Salamor, CEO of
the Christ Water Technology Group comments on the Q3 figures.

At EUR 65.1 million for the quarter, CHRIST registered average order
intake bringing new orders for the first nine months to EUR 188.9
million. Compared to last year this figure was down by 30% due to the
retreat from unprofitable Power Business and a big desalination order
received in August last year. As a consequence also order backlog was
down 24% to a sound level of EUR 192.3 million and a number of good
order chances to fill the pipeline again.

Sales advanced by 13% to EUR 225.2 million mainly driven by the
Pharma & Life Science division with the inclusion of the Zeta Group.
For the third quarter, sales of EUR 70.4 million were registered.
Nine-month EBITDA fell to EUR -3.3 million and EBIT to EUR -9.9
million. Thereof, negative impacts of power business and clean-up
cost effected the EBIT with EUR -16.6 million in total, losses in
power business accounted for EUR -9.8 million, the cost for
restructuring and terminating business activities and inactive
projects mainly in Food & Beverage accounted for EUR 6.8 million out
of that. Consequently, the healthy business operations in Pharma &
Life Science, Microelectronics, Process Water & Reuse and Municipal
Water Treatment reached a clean EBIT of EUR +6.7 million for the
first three quarters. In including the full amount of negative
effects in Power and mainly Food & Beverage the isolated Q3 EBIT was
-13.4 million (previous year: +1.8 million).

The net financial result grew to EUR -2.1 million bringing earnings
before taxes to EUR -12.0 million. Due to a positive tax bill out of
profitable businesses as well as movements in deferred taxes, the net
result reached EUR -14.0 million for the period ended Sept. 30, 2008.

Operating cash flow was EUR -14.4 million (previous year: EUR -7.1
million) as a result of the losses incurred as well as the existing
working capital requirements mainly in municipal contracts. Net debt
grew to EUR 71.1 million (versus EUR 42.2 million at 31.12.2007. With
the majority to be long term financed via the EUR 50 million
corporate bond (due 2013, 5.25% coupon) and existing short term
credit lines to back up the working capital requirements. Group
equity declined to EUR 50.8 million or 21.9% of balance sheet total.

Outlook

Malek Salamor: "For the full year, based on the order backlog and our
assessment of markets, we expect CHRIST to generate sales of roughly
EUR 300 million. For the current fourth quarter, stabilising the
results and risk situation is the key management focus and lays the
foundation for a positive development in 2009. We have taken a
rigorous cost cutting and structural optimization course effective
for the entire Group. With the disciplined order and sales approach
accompanied by professional project execution and further potential
major strategic decisions soon to be taken we work to re-establish
profitability."

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 AG

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