As at the end of September, BWT increased its consolidated revenues by 1.4% from 380.0 million to 385.3 million. With a comparable Group structure (a plant engineering company in Ireland was sold in the first quarter), revenues growth would have been 2.4%. Higher growth of 16.9% to 36.1 million was achieved in the Point of Use operations representing a share of total sales of 9.4% (against 8.1% last year).
Costs incurred for expansion of the Point of Use product area and the weak order situation in the Municipal Plant Engineering product segment, together with restructuring measures that are required in this segment as a result of this, led to a decline in EBIT from 3.7 million to 3.2 million in the third quarter. On a cumulative basis after the first nine months, the BWT Group generated EBIT of 19.3 million, down 6.1% on the previous year (20.6 million). After nine months, net profit for the period after non-controlling interests amounted to 10.8 million, which equates to a decrease of 3 million on the previous years figure. Earnings per share came to 0.64 in the first three quarters of the year, compared with 0.82 in the previous year.
Our investment programme at the sites of Mondsee and Bietigheim-Bissingen in Germany as well as growth in Point of Use and brand building with end consumers set their mark on the first nine months of the year. The BWT Gourmet table water filter that mineralizes tap water with the mineral Magnesium for excellent taste and new filter products in the professional segment for catering, hotel and vending customers play a major role in this context. In addition, we started the biggest advertising campain for Point of Entry water technology products ever in Austria. Taken together, we managed to compensate weaker market development involving also reductions of capacity with other areas, says Andreas Weissenbacher, CEO of BWT AG about the first three quarters of the year 2013.
Outlook
Andreas Weissenbacher: The new production facitlities in Mondsee and at the new site in Germany will be completed in beginning of 2014. Also brand building is proceeding according to plan, at the same time we are continuously optimizing our Point of Entry business; Strategic measures to optimise and streamline the Groups locations and product portfolio will also impact planned consolidated earnings for 2013. The Management Board therefore expects consolidated revenues for the current financial year to remain unchanged compared with the previous year at just over 500 million and net profit for the year of around 10 million.
