euro adhoc: SW Umwelttechnik Stoiser & Wolschner AG / Financial Figures/Balance Sheet / SW Umwelttechnik announces results for the first half of 2007

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6-month report

08.08.2007

. Revenue up 15% in the first half year . Improvements of E1 million
(m) and E4m in EBIT and POA, respectively . Record E25m investment
program for 2007

Vienna listed SW Umwelttechnik Stoiser & Wolschner AG posted a 15%
increase in revenues, from E36.2m to E41.5m for the first half
of 2007. High capacity utilisation and a significant improvement
in finance costs/income helped the Group to return its first-ever
profit on operating activities (POA) for the first half. In
order to speed up expansion the investment programme was boosted to
a record E25m.

Second quarter revenues of E25.5m were slightly down on an
exceptionally strong second quarter of 2006 (E27.0m), but the total
for the first half was up by 15% to E41.5m.

First half revenue in Hungary advanced by 11% to E27.3m (HY1 2006:
E24.5m), but this market's contribution to the total dropped to 66%
(HY1 2006: 68%). The share accounted for by Austria also declined,
from 24% to 19%, while Romania generated 9% compared to 5% in the
like period of the previous year. Revenue from other EU member
states was up to 6% of the total (2006: 3%).

The Infrastructure sector continued to perform well in Austria
and Hungary, with revenue rising to E23.4m (HY1 2006: E18.6m). The
Water Conservation sector recorded a fall in revenue, however, with
Hungarian sales losing most ground. The revenue contribution from
the Infrastructure sector was 56% of the total (HY1 2006: 52%)
and that from the Water Conservation business 26% (HY1 2006:
31%), while the share from Engineering was virtually unchanged at
18% (HY1 2006: 17%).

While earnings before interest and tax (EBIT) were still negative, in
line with the normal seasonal pattern, the loss narrowed by E1m
year-on-year to E0.2m (HY1 2006: E1.2m), reflecting early
production restarts due to mild winter. This strong beginning to
the year was the main factor behind the E1.3m gain in EBITDA to
E2.1m (HY1 2006: E0.8m).

Finance costs/income were driven by the steady appreciation of the
Romanian lei due to heavy foreign investment, and the recovery of
the Hungarian forint in response to budget consolidation measures,
which together lifted the first-half financial result from a net
loss of E3.1m in 2006 to a profit of E0.6m in 2007. This, in turn,
turned POA positive by E0.4m, compared to a negative E4.3m for the
period in 2006.

Trends by geographical markets Last year's cut in the number of
production sites in Austria from five to three has led to excellent
capacity utilisation in the Infrastructure and Water
Conservation sectors so far in 2007. The restructuring
actions sharply increased first-half earnings, while revenues held
steady despite the merging of facilities.

In Hungary, capacity utilisation in the Infrastructure sector was
outstanding, chiefly as a result of deliveries to industrial and
commercial clients. The Water Conservation sector was impacted by
disappointing public contract awards due to the deficit reduction
measures. The Engineering sector was also hit by the public
spending cuts. Although its market share rose from 4% to 7%, total
contract awards for the first half were more than halved year on
year. In Romania, the Infrastructure sector registered growth in
deliveries but the performance of the Water Conservation sector
fell short of expectations owing to project deferrals. This added
to start-up costs, depressing consolidated EBIT by about E1m. It
should be noted that projects are experiencing ongoing delays due
to failure to make full use of available EU support payments.

Investment The Group's investment budget for 2007 totals a record
E25m (2006: E15.8m). Capital expenditure for the first half was
E14.6m, of which E6.9m went to the Hungarian operations and E6.4m
to Romania.

The disposal of a six hectare property in Budapest will bring gains
of E0.6m this year, and the main amount of E3m will likewise be
reported as income from the realisation of undisclosed reserves in
2008. Migration of the remaining production equipment to the
new South Budapest plant is scheduled for completion by
October 2007. This will mark the conclusion of the investment
programme in Hungary, where SW Umwelttechnik has spent some E45m
on factory modernisation since 2000.

Other investment activity will mainly be focused on expansion in
Romania. The medium-term plan is to build up to four
factories. The first plant, in Timisoara has been operating since
September 2006. The first development phase at the new Bucharest
site, involving capacity for the Infrastructure sector, is in full
swing with production scheduled to start up in autumn of 2007. Work
on the second phase, which will create production facilities
for the Water Conservation sector, is due to commence towards the
end of 2007, and this capacity will be commissioned near the end
of 2008. A ten hectare site has been acquired in Targu Mures and
applications for planning permission are being processed. A
search for a suitable site for a fourth factory, in neighbouring
Moldova has been initiated.

Employees The Group's headcount contracted to 770, from 811 at the
end of the first half of 2006. The decline is mainly explained
by the successful restructuring exercises in Austria.

Order backlog Order backlog as at 30 June 2007 was down to E26.8m
from E40m a year earlier, largely reflecting weak order intake by
the Engineering sector in Hungary. Order bookings are not
expected to pick up until the fourth quarter at the earliest.

Balance sheet The heavy investment programme swelled non-current
assets from E47.4m to E71.4m, while revenue growth buoyed
current assets to E45.8m (HY1 2006: E35.7m). Total assets rose
by about 40% to E117.3m (HY1 2006: E83.1m). Financial liabilities
climbed from E46.6m to E62.6m due to borrowing to finance expansion.
The marked upturn in retained earnings was reflected in a 60%
increase in equity from E17.1m to E27.2m.

Share price performance SW Umwelttechnik's return to the prime
market segment of the Vienna Stock Exchange on 21 May 2007 was
testimony to the shareholder confidence that has brought a share
price run-up of almost 200% since the start of the year.
Capital Bank is acting as the specialist for SW Umwelttechnik's
stock.

Outlook for 2007 as a whole Due to the good operating results for the
first half of the year, management is forecasting significant
earnings growth, despite the reduction in public contract
awards in Hungary and higher than expected start-up costs in Romania.

. The factory closures in Austria have led to a big improvement in
EBIT. . The ambitious investment programme in Hungary will to
all intents and purposes be completed in the third quarter.
Capacity utilisation in the Infrastructure and Water
Conservation sectors is expected to be high in the second half,
while the Engineering sector is also expected to make up lost
ground as public sector orders pick up. . In Romania, the next step
after the start-up of the first factory in Timisoara in
September 2006 will be the opening of a second site in the
Bucharest area in autumn of 2007. A site for the third Romanian
works, in Targu Mures, central Transylvania, has been acquired,
and a fourth plant in Moldova is also planned.

Founded in 1910, SW Umwelttechnik remains a family business, though
it has been listed on the Vienna Stock Exchange since 1997.
The company is widely identified with sustainable enterprise and
rapid expansion in Central and Southeastern Europe. Its
innovative environmental technology is playing a major part in
infrastructure renewal in CSE countries. In 2006 SW Umwelttechnik had
a workforce of 836 at 16 sites and posted revenue of E102m.

Financial highlights

Q2 2007

|EUR m |2007 |2006 |
|Revenue |25.5 |27.0 |
|EBIT | 1.1 | 2.1 |
|EBITDA | 2.3 | 3.1 |
|POA | 1.8 | 0.6 |

HY1 2007

|EUR m |2007 |2006 |
|Revenue |41.5 |36.2 |
|EBIT |-0.2 |-1.2 |
|EBITDA | 2.1 | 0.8 |
|POA | 0.4 |-4.3 |

HY1 Balance Sheet

|EUR m |HY1 2007 |HY1 2006 |
|Non-current assets | 71.5 | 47.4 |
|Current assets | 45.8 | 35.7 |
| | | |
|Total equity and |117.3 | 83.1 |
|liabilities | | |
| | | |
|Equity | 27.2 | 17.1 |
|Borrowings | 90.1 | 66.0 |
|whereof bank loans | 62.6 | 46.6 |

end of announcement euro adhoc 08.08.2007 08:00:00
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ots Originaltext: SW Umwelttechnik
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Dr. Bernd Wolschner, member of the SW Umwelttechnik Management Board
tel: +43 (0)463 32 109; fax: +43 (0)463 37 667

Mag. Romed Lackner, IR and Marketing
tel: +43 (0)664 811 7670; fax: +43 (0)463 37 667-170
E-mail: romed.lackner@sw-umwelttechnik.com
Website: 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