- Order backlog: +25% to € 183mn
- Sales: +14.5% to € 210mn
- EBIT: + 77% to € 7.0mn
Christ Water Technology Group reports pleasing growth in orders, sales and earnings. Thanks to recent acquisitions a focus on high quality orders was maintained with order intake again reaching a high level of 246mn € (+2% on last year´s € 241.5mn). Order backlog of € 183mn at year-end 2006 exceeded the value of last year (2005: € 146.5mn) supported by positive trends in all divisions. Group sales increased 14.5% from € 183mn to € 210mn.
In the first full stand-alone year after its spin-off from BWT (November 2005), CHRIST has undertaken important growth steps: extension of R&D activities was accompanied by foundations of new businesses and takeovers for expansion into new markets and customer segments.
EBIT jumped 77% from € 4.0mn to € 7.0mn and EBITDA grew to € 10.2mn from € 6.6mn a year earlier. The key drivers of earnings were the divisions Ultrapure Water and Municipal Water Treatment. In Pharma & Life Science the market launch of new products and the expansion of international presence put a strain on divisional income. In Food & Beverage restructuring effects and start-up costs in the new participation burdened operating earnings.
A higher share of taxes made net income increase moderately from € 2.9mn last year to € 3.4mn for 2006 resulting in earnings per share of € 0.19 after € 0.16.
Net debt increased from € 20.4mn to € 34.6mn while equity amounted to € 43.2mn as of December 31, 2006 (last year: € 41.2mn). This corresponds to a share of 25.6% of the balance sheet total after 28.5% due to the higher volume of business.
The number of employees increased to 1,032 persons after 842 on 31/12/2005 caused by acquisitions and organic growth.
Chief Technology Officer (CTO) Hartmut Gussmann will resign from the managing board for personal reasons and leave the CHRIST Group at the end of March. He will remain available for CHRIST as a consultant. The vacancy will be filled.
Outlook
In the year 2006 a series of important decisions was made to secure further earnings growth. CHRIST-initiatives targeting new technologies and markets include considerable synergy and earnings potentials. The strategic focus on the margin-positive service business will be continued. Based on the good order backlog as of year-end 2006 and supported by the positive economic conditions in all business units management expects double-digit growth in sales and disproportionate growth in EBIT in the current year.
Contact
Christ Water Technology AG, A-5310 Mondsee, Walter-Simmer-Str. 4
Karl Michael Millauer, CEO, P. +41 61 7558 537
Harald Wegscheider, CFO, P. +43 6232 9011 1002
Ralf Burchert, Investor Relations & Corporate Communications
P. +43 (0)6232 5011 1113, F. +43 (0)6232 5011 1109, E-mail: ralf.burchert@christ-water.com
Financial Calendar
Final annual results 2006 April 11, 2007
Report 1st quarter 2007 May 22, 2007
Annual General Meeting 2007 May 24, 2007
Report 1st half-year 2007 August 17, 2007
Report 3rd quarter 2007 November 23, 2007