euro adhoc: CHRIST WATER TECHNOLOGY AG / quarterly or semiannual financial statement / Good start into 2007 for CHRIST

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3-month report

22.05.2007

• Sales +23% to EUR 63.0mn
• EBIT +123% to EUR 2.3mn
• Net income +40% to EUR 1.2mn
• Order intake +1% to EUR 54.5mn
• Order backlog +17% to EUR 174mn
• Outlook 2007: Double-digit growth in sales, disproportionately high
improvement of EBIT-margin

The strong economic and industry development ensures full order books
in all segments of the CHRIST Group and is the driver for further
growth in all divisions.

DDr. Karl Michael Millauer, CEO, comments: "CHRIST is well positioned
globally following investments in new markets and new technologies as
well as active acquisitions in 2006 and can use the market
opportunities presented on a broad basis. Integration of new Group
members is progressing as planned and these consistently represent a
strengthening of resources both in terms of the market and the
project, and are making a positive contribution to the Group result."

Customers´ high propensity to invest is reflected in the further
growth of incoming orders. This was still rather restrained in the
first quarter (increase of 1% from EUR 53.9 million to EUR 54.5
million), but is continuing with momentum at the start of the second
quarter. Previously, the strongest impetuses came from the Power &
Petrochem, Pharma & Life Science and Microelectronics branches of
industry, while the high order book level is being processed in the
municipalities business and some important project offers are shortly
to be granted. The order book level is growing comfortably and is up
17% on the previous year´s quarter at EUR 174 million.

In the first quarter of 2007, Group sales reached the best quarterly
value of recent years with EUR 63.0 million (previous year: EUR 51.1
million). On the earnings side, EBITDA increased by 80% from EUR 1.7
million to EUR 3.1 million and EBIT more than doubled (+123%) from
EUR 1.0 million to EUR 2.3 million representing an improvement of the
EBIT-margin from 3.3% to 4.9% of sales. The strengthening of income
resulted from both the continuous good utilization of important Group
companies and the improvement of margins in the project business.
Furthermore, turnaround could be achieved with all loss contributing
subsidiaries of last year.

Earnings before taxes increased to EUR 1.8 million (previous year:
EUR 1.2 million). Net income for the period after taxes on earnings
increased from EUR 0.8 million in the previous year to EUR 1.3
million. After adjustment for minorities, net income for the period
for the shareholders of the company amounted to EUR 1.2 million
(previous year: EUR 0.8 million) or EUR 0.07 per share as against EUR
0.05 in 2006.

The number of employees increased particularly due to the acquisition
of the new participation UT&S (28 employees) from 1,032 as of
December 31, 2006 to 1080 as of March 31, 2007. Furthermore, the
increasing business volume was accommodated by increasing the number
of technical and executive project personnel.

Group equity (including minority shares) increased in comparison to
December 31, 2006 from EUR 43.2 million to EUR 44.5 million, while
the equity ratio diluted as a result of the growth of total assets
from 25.8% to 25.1%. Cash flow from operating activities is negative
as a result of the increase in receivables from long-term orders,
whilst at the same time a decrease in accounts receivable and an
increase in trade payables at EUR -3.6 million. Cash flow from
investment activities of EUR -4.1 million is attributable to
acquisitions and other investment projects. Net debt rose as compared
with December 31, 2006, from EUR 34.8 million to EUR 39.1 million.

Outlook

The upward trend in terms of volumes and earnings growth seen in the
first quarter of 2007 is supported by continuously good demand across
the entire business portfolio of CHRIST with open project tenders
reaching record figures.

Important impetuses were set in motion in the units formerly
generating losses and new orders are showing improved margins.
Moreover, management strives to actively turn around operating cash
flow into positive territory over the next few quarters.

Management is expecting double-digit sales growth and above-average
improvement in the EBIT margin for the 2007 financial year due to the
excellent order situation in all segments as well as the continuing
good economic climate and CHRIST´s good market positions.

end of announcement euro adhoc 22.05.2007 07:30:00
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ots Originaltext: CHRIST WATER TECHNOLOGY AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Christ Water Technology Group
Ralf Burchert
ralf.burchert@christwater.com
Tel.: +43 6232 5011 1113

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