EANS-Adhoc: BWT Aktiengesellschaft / BWT grows sales by 5% in the first three quarters

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quarterly report

11.11.2011

"We grew sales by 7% organically and in Point of Use by 22% until the
end of the third quarter and are also keeping our balance sheet
healthy - despite big investment and rocky economic conditions. The
first rank with the Upper Austrian Innovation Award for BWT for the
superior Magnesium Mg2+ technology and the table water advertisement
campaign in Germany and Austria were the highlights of the third
quarter" says Andreas Weissenbacher, CEO of BWT - Best Water
Technology Group, about the results until the end of September 2011.

As at the end of September, the BWT Group´s consolidated revenues
showed an increase of 4.8% from EUR345.2 million to EUR361.8 million.
Growth on a like-for-like basis came to 7.2%. The BWT Group achieved
revenues of EUR26.3 million from Point of Use products during the
first nine months of the year, representing a year-on-year increase
of 22.4%. Growth in the third quarter was 23.7%. The comprehensive
advertising measures aimed at establishing the BWT brand as the
leading international "water brand" were chiefly responsible for the
reduction of EBIT by EUR3.0 million to EUR4.3 during the third
quarter.

Earnings before tax were EUR19.8 million (previous year: EUR26.1
million) for the first three quarters. Due on the one hand to
improved earnings in countries with higher tax rates and on the other
hand to tax expenses from prior periods, the Group´s tax rate rose to
31.5% from 23.3% for the same period of the previous year. The
Group´s consolidated net earnings after minority interests amounted
to EUR13.5 million for the first nine months of the year (2010:
EUR20.0 million) and EUR2.6 million in the third quarter (2010:
EUR5.4 million). Earnings per share were EUR0.79 as at 30 September,
against EUR1.16 in 2010.

Investments in fixed assets increased significantly against 2010. Up
to the end of September, EUR16.2 million had been invested in 2011 so
far compared with EUR10.2 million during the same period of the
previous year. The majority of these investments went into expanding
production, logistics and research capacities at the Mondsee site.
Despite high levels of strategic capital investment, the net debt of
the BWT Group fell from EUR25.1 million at the end of September 2010
to EUR22.9 million at the end of September 2011. As a consequence,
gearing (net debt to equity) fell from 15.3% in 2010 to 14.1% in
2011. The BWT Group´s equity ratio has also improved as at 30
September, amounting to 48.1% of total assets against 47.6% for the
same period of the previous year.

Outlook Andreas Weissenbacher says, "The revolutionary Magnesium Mg2+
table water filter technology and several other product innovations
now give us the historic opportunity to launch the brand BWT as the
consumer water technology brand. We follow along this path with
persistence aiming to generate considerable growth in sales and
earnings in all business segments." As planned, the additional
marketing expenditure aimed at establishing the "BWT" brand and
expanding the Point of Use business, above all in the table water
filter product segment, is resulting in the medium term in a decline
in earnings, which has been exacerbated by the difficult market
environment in France, Italy and Spain and the pressure on margins in
Eastern Europe in 2011. The BWT Group is still expecting to achieve
consolidated revenues of EUR470 million in 2011. From the current
perspective, it looks unlikely that the group earnings target of EUR1
per share will be met, the fourth quarter, as was also the case last
year, makes only a minor contribution to earnings.

The third quarter financial report as at September 30th, 2011, is
available on our homepage www.bwt-group.com in section Investor
Relations.

Further inquiry note:
BWT Aktiengesellschaft
Mag. Ralf Burchert
ralf.burchert@bwt-group.com
Tel.: 06232/5011-1113

end of announcement euro adhoc
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issuer: BWT Aktiengesellschaft
Walter-Simmer-Str. 4
A-5310 Mondsee
phone: 06232/5011-0
FAX: 06232/4058
mail: office@bwt.at
WWW: www.bwt-group.com
sector: Water Supply
ISIN: AT0000737705
indexes: ATX Prime
stockmarkets: official market: Wien
language: English