Ad-hoc | 28 February 2001 08:23

Ad hoc-Service: SW Umwelttechnik prelim. resu

Ad-hoc Mitteilung übermittelt durch die DGAP. Für den Inhalt der Mitteilung ist allein der Emittent verantwortlich. —————————————————————————— Press release, 28 February 2001 SW Umwelttechnik announces preliminary results for 2000 Revenue up by 56%, EBIT by 193% Revenue more than trebled since 1996 Central and East European wastewater treatment specialists SW Umwelttechnik have returned record profits for 2000 and exceeded their growth targets. The group’s preliminary results (for the first time presented according to IAS) show a 56% increase in revenue to EUR 68.9 million (m) in financial 2000. The share of revenue generated by its Hungarian growth market rose to over 53%, while Austria accounted for 45% and other neighbouring countries for the rest. The breakdown by business sectors was almost unchanged from the previous year, with environmental products contributing 41% of revenue, environmental engineering 34%, and infrastructural and building products 25%. Of this robust revenue growth, 25% was organic and 31% came from the two newly consolidated acquisitions, Strong Kft. (Hungary) and Stadlbauer Umwelttechnik (Austria). Earnings before interest and tax (EBIT) almost trebled, from EUR 1.6m to EUR 4.7m. This improvement chiefly reflected business developments in Hungary where SW Umwelt is back on course after a difficult year in 1999. Despite increased finance cost, profit on ordinary activities (POA) rose by 216%, from EUR 1.3m to EUR 4.0m, partly as a result of high unscheduled depreciation in 1999. EUR ‘000 1999p 2000p Change Revenue 44,242 68,884 56% Total output 45,943 69,502 51% EBITDA 3,636 7,635 110% EBIT 1,606 4,705 193% POA 1,258 3,975 216% Payroll 703 822 17% * Preliminary figures according to IAS Capital expenditure A major investment programme was carried out in 2000. Owing to the group’s good trading performance some investments were accelerated. Capital expenditure amounted to EUR 6.8m, some 70% of the total being channelled into upgrading the Hungarian factories, where both capacity and the efficiency of raw materials and energy use were increased. The 33% gain in revenue per employee reflects these improvements. EBITDA doubled in 2000, meaning that it will be possible to maintain capital expenditure at a high level. Outlook The importance attached to water quality will continue to grow, providing sustained growth potential for SW Umwelttechnik. Rapid expansion is anticipated for the next few years, from organic growth and further acquisitions. In the light of the high order backlog of EUR 33m management expects growth to continue at its recent fierce pace in 2001, owing to the following factors: * Demand for environmental and infrastructural products in EU accession candidates is very strong. The situation with regard to project finance has eased due to EU support programmes and increased spending by the governments of the countries concerned. * SW Umwelttechnik is the market leader in major segments of its Hungarian growth market, and is now very well placed to expand its market shares as a result of the investments made. * The stagnation of the Austrian market owing to tight public spending limits will lead to further concentration in the industry. There will be opportunities for SW Umwelttechnik due to the planned introduction of further innovative products, its existing financing know-how and its competitive cost base. * The company will continue to pursue its expansion strategy, and apart from targets in its Austrian and Hungarian home markets it will be looking at potential acquisitions in Croatia, the Czech Republic, Poland, Romania and Slovakia. Contact Bernd Wolschner, member of the Management Board of SW Umwelttechnik Tel: +43 (0)7259 31 35 0; fax: +43 (0)7259 3135 6 Christian Riel, Finance & Investor Relations Tel: 0664 433 71 05; fax: +43 (0)1 3688686; e-mail: christian.riel@sw-umwelttechnik.at Website: www.sw-umwelttechnik.at Ende der Mitteilung