euro adhoc: SW Umwelttechnik Stoiser & Wolschner AG / Financial Figures/Balance Sheet / SW Umwelttechnik announces preliminary results for 2008

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preliminary results

27.02.2009

* Revenue up by 14% to EUR109.8 million
* Restructuring program in fourth quarter
* Positive outlook due to strong order backlog (EUR37 million)

SW Umwelttechnik - a Vienna listed family firm with its core markets
in Central and Southeastern Europe (CSE) - posted a 14% increase
in revenue to EUR109.8 million (m) in 2008 despite difficult
trading conditions. EBITDA was EUR7.7m - 18% down on the
previous year's record figure - due to the cost of
restructuring programmes in Hungary which have now been pushed
through. The company recorded a loss of EUR3.8m for the
period attributable to equity shareholders, mainly caused by
movements in CSE currency exchange rates. The strong order backlog
confirms the strategy of the company in concentrating on the
public sector investments and ensures the success 2009.

Results for 2008 Following a bright first half, the CSE region - SW
Umwelttechnik's main market - was battered by the global economic
and financial crisis in the second half of 2008. Investments in
industrial and commercial buildings came to a virtual standstill
in Hungary, and SW Umwelttechnik was hit by order cancellations to
the tune of EUR11m. Nevertheless, thanks to its strong market
position the company registered 14% organic revenue growth to
EUR109.8m for the year as a whole.

The revenue contribution of the Hungarian market slipped to 55%
(2007: 60%) at EUR61m, while that of the Romanian market doubled to
an on-target 19% (2007: 9%)or EUR21m, and that of Austria was EUR21m
- an almost constant 19% of revenue(2007: 20%).

The revenue contribution from SW Umwelttechnik's Infrastructure
sector rose to EUR62m or 53% (2007: 51%) and the Water Conservation
sector's share of revenue to EUR32m or 32% (2007: 30%) driven by
growth in Romania.; by contrast the Engineering sector's
contribution slid to EUR16m or 15% (2007: 19%) due to the
Hungarian government's restrictive fiscal policies in 2007/2008.

Management responded to the change in the trading environment in
the fourth quarter by laying off 200 contract workers and 200
permanent staff, and is now focusing on the increase in municipal
spending that is expected to result from the announced stimulus
packages.

Earnings before interest and tax (EBIT) mirrored the harsh market
conditions, and weak trading in Hungary had a particularly negative
impact. EBIT declined to EUR2.1m in 2008 (2007: EUR4.6m). This
result already reflects the action taken in Hungary to adjust to
the economic situation. EBITDA came in at EUR7.7m - 18% below the
previous year's record EUR9.4m.

SW Umwelttechnik's recent expansion in Southeastern Europe has
increased its exposure to currency risk. The sharp movements in the
exchange rates of the Hungarian HUF and the Romanian RON
towards the end of the year led to accounting (noncash) losses
of EUR5m in 2008, and net finance result jumped to EUR7.2m from
EUR3.3m in 2007. SW Umwelttechnik expects the volatility of
these currencies to abate in the medium term, and the exchange
rates to return to their normal ranges, meaning that the items that
have been written down can be revalued accordingly.

Higher finance costs meant that the company swung into a loss
on ordinary activities of EUR5.0m (2007: + EUR1.2m) and a EUR3.8m
loss for the period's net profit (2007: + EUR1.7m).

Fourth quarter performance The impact of flagging CSE economies was
mainly felt in the fourth quarter. Revenue, EBIT and EBITDA were
all far below expectations at EUR28.1m, - EUR0.9m and EUR0.5m,
respectively.

Due to management's rapid response to market developments most of
the spending on restructuring was completed in 2008t, leaving SW
Umwelttechnik well placed for 2009.

Order backlog Order backlog at year end was a satisfactory EUR37.4m.
While this failed to match the record EUR46m reported at the end of
2007 it was still well above the 2006 figure of EUR25.9m. Order
intake in Hungary and Romania is encouraging in view of the adverse
trading environment. The Engineering sector has won two large
contracts for drinking water and sewer networks in Romania, and in
Hungary the first order for bridge beams was achieved. This shows
the effectiveness of the company's strategy of focusing on
public sector infrastructure and environmental protection
projects.

Employees The average head count rose to 895 in 2008 (2007: 797)
due to expansion in Romania. The Romanian workforce grew to 221
(2007: 99) as a result of the start- up of the Bucharest factory. The
reduction of 200 in the permanent labour force in Hungary, initiated
during the fourth quarter, is included in expenses for 2008, but
the positive impact on costs will not be seen until 2009.

Investment Following the record EUR26m investment programme in 2007,
in 2008 a further EUR9.4m went to completing the new plants; EUR5.1m
was spent in Hungary and EUR3.2m in Romania.

Dividend recommendation The Management Board will recommend to the
General Assembly to suspend payment of a dividend for 2008
financial year because of the overall economic situation and the
loss for the year.

Outlook SW Umwelttechnik's investments in expansion in Hungary and
Romania have created strong positions in these markets, and its
modern production facilities have given it cost leadership there.

The expectation is for a further sharp decline in all forms of
industrial and commercial investment across the entire CSE region,
offset by growing public sector investment as a result of the
announced stimulus packages. In this market segment SW
Umwelttechnik has a good name as responsible supplier, as shown
by recent order intakes.

Management anticipates the following trends in the company's main
markets:

. In Romania, economic growth will slow, but is expected to remain positive
by 1% or more. Municipal investment in environmental protection and
infrastructure co-financed by the EU should continue to expand clearly in
2009.
. Hungarian GDP is forecast to contract by 3%, leading to a sharp fall in
industrial and commercial investment. The Water Conservation sector, and
probably also the Engineering sector appear to be set for recovering
growth - partly as a result of a mooted stimulus package.
. In Austria, the main business, Water Conservation should continue to grow
as a result of the new products and the promised stimulus package.

In the light of these developments SW Umwelttechnik expects only
a slight decline in revenue, and is looking forward to a profitable
year as a result of the restructuring actions that have already
been implemented.

Founded in 1910, SW Umwelttechnik remains a family business, though
it has been listed on the Vienna Stock Exchange since 1997. The
group 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.

Financial highlights

|EUR m |2008 |2007 |
|Revenue |109.8 |96.1 |
|EBIT |2.1 |4.6 |
|EBITDA |7.7 |9.4 |
|POA |-5.0 |1.2 |
|Profit/loss for the |-3.8 |1.7 |
|period attributable to | | |
|equity shareholders | | |

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 (0)7259 31350

Fax: +43 (0)463 37667

Michaela Werbitsch

Investor Relations

Tel: +43 (0)664 8117662

Fax: +43 (0)463 37667

E-mail: michaela.werbitsch@sw-umwelttechnik.com

Web: 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