euro adhoc: SW Umwelttechnik Stoiser & Wolschner AG / quarterly or semiannual financial statement / SW Umwelttechnik announces results for first quarter of 2008 (E)

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08.05.2008

* Record order backlog of E52.1 million
* First quarter revenue up by 15%
* Forecast for 2008: revenue up by 20%, EBIT by 30%

SW Umwelttechnik posted highly satisfactory results for the first quarter of
2008. And the Vienna listed Carinthian family business is predicting revenue
growth of about 20% and a 30% increase in EBIT for 2008 as a whole. Order
backlog stood at a record EUR 52.1 million (m) as of 30 April 2008.

Revenue for the first quarter of 2008 advanced to E18.4m from E16m in the like
period of 2007. The improvement was largely driven by a strong performance from
the group's booming Infrastructure business, which lent weight to the upbeat
revenue forecast for 2008. Meanwhile the percentage revenue contribution from
SW Umwelttechnik's Romanian operations doubled year on year.

The largest geographical market during the period was Hungary at 62.1% (Q1
2007: 71.4%) of total revenue, ahead of Romania at 16.8% (Q1 2007: 9.4%). The
share of revenue attributable to Austria was also up, from 15.3% to 16.7%.

The segmental revenue breakdown in the first quarter showed a marked shift
towards the Infrastructure business sector, which accounted for 65.2% of the
total (Q1 2007: 56%), followed by Water Conservation on 26.8% (Q1 2007: 31.3%)
and Engineering on 8% (Q1 2007: 12.6%).

First quarter EBIT was negative by EUR E1.6m (Q1 2008: negative by E1.3m), in
line with the normal seasonal pattern. The loss on ordinary activities of E3.8m
(Q1 2007: E1.4m) was inflated by E1.2m in book losses on exchange rate
movements (Q1 2007: exchange gains of E0.7m); the exchange losses had already
narrowed to E0.4m by 30 April 2008.

Order backlog
Order backlog was at an all-time high of E52.1m at the end of the first
quarter. The increase was largely fuelled by order intake in Hungary and
Romania. SW Umwelttechnik won a E3.0m contract for reinforced concrete and
jacking pipes for a wastewater treatment plant currently under construction in
Budapest. The group also received a E2.0m order for products for a sewer
network rehabilitation and upgrading project in Suceava, eastern Romania.

Employees
As at 31 March 2008 SW Umwelttechnik employed 831 people - 90 more than a year
earlier. The increase was largely due to expansion in Romania and the group's
positive trading performance there.

Capital expenditure
Capital expenditure of E2.6m in the first quarter of 2008 (Q1 2007: E5.6m) was
largely channelled into the completion of expansion projects in Hungary and
Romania.

Balance sheet
Non-current assets rose to E75.6m (31 March 2007: E62.1m) as a result of the
large-scale investment programme carried out in the previous financial year.
The group succeeded in trimming current assets from E44.9m to E41.8m. Total
assets ended the first quarter 10% up year on year, at E117.4m (31 March 2007:
E107.0m).

Financial liabilities climbed from E58.6m to E75.5m due to borrowing to finance
expansion. Equity edged down from E25.7m to E23.0m, in line with expectations.

Share price performance
Shareholders' confidence in SW Umwelttechnik's successful strategy remains
strong. Following an outstanding share price performance in 2007 and the
company's return to the prime market segment of the Vienna Stock Exchange
during year, the price held its ground well in the first quarter of 2008. SW
Umwelttechnik will be paying a dividend of E0.30 for the 2007 financial year.

Outlook
Management's expectation of a 20% increase in revenue for 2008 reflects order
intake in Romania, SW Umwelttechnik's uncontested market leadership in Hungary,
the success of the current export drive, and innovative product developments.
The disproportionate 30% year-on-year increase in EBIT projected for 2008 is
based on the anticipated positive contribution to earnings of the new Romanian
operations.

. In Romania the Timisoara and Bucharest works have now reached full
production. The second development phase involving the installation of
capacity for water conservation products at the Bucharest site is
scheduled for completion by mid-2009. Work on the construction of the
Targu Mures plant in central Transylvania is due to commence in mid-2009.

. In Austria SW Umwelttechnik has consolidated its market shares, and
expects to post a significant year-on-year increase in revenue for 2008 as
a whole.

. In Hungary the fall-off in the revenue contribution of the Engineering
sector because of current public spending cuts is being more than offset
by sales to industrial and commercial customers, and exports to Slovakia.

. SW Umwelttechnik is going ahead with plans to export from Romania and
Hungary to Bulgaria, Moldova, Serbia and Ukraine. Meanwhile steps are also
being taken to acquire land for additional factories.

Financial highlights

|E m |Q1 2008 |Q1 2007 |
|Revenue |18.4 |16.0 |
|EBIT |-1.6 |-1.3 |
|EBITDA |-0.4 |-0.2 |
|POA |-3.8 |-1.4 |
| | | |
| | | |
|E m |Q1 2008 |Q1 2007 |
|Non-current |75.6 |62.1 |
|assets | | |
|Current assets |41.8 |44.9 |
|Total assets |117.4 |107.0 |
| | | |
|Equity |23.0 |25.7 |
|Debt |94.4 |81.3 |
|whereof bank |75.5 |58.6 |
|loans | | |

Founded in 1910, SW Umwelttechnik remains a family business, though it has been
listed on the Vienna Stock Exchange since 1997. The group is widely identified
with sustainable enterprise and rapid expansion in Central and Southeastern
Europe (CSE). Its innovative environmental technology products are contributing
to infrastructure renewal in CSE.

Further inquiry note:
Dr. Bernd Wolschner
Vorstand der SW Umwelttechnik AG
Tel.: +43/7259/31 35 0
Fax: +43/463/37 667

Romed Lackner
Investor Relations & Marketing
Tel.: +43/664/811 76 70
Fax: +43/463/37 667 170
E-Mail: romed.lackner@sw-umwelttechnik.com

Website: www.sw-umwelttechnik.com

end of announcement euro adhoc
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emitter: SW Umwelttechnik Stoiser & Wolschner AG
Bahnstraße 87-93
A-9020 Klagenfurt
phone: 0043-463-321090
FAX: 0043-463-37667
mail: office@sw-umwelttechnik.com
WWW: http://www.sw-umwelttechnik.com
sector: Technology
ISIN: AT0000808209
indexes: WBI
stockmarkets: free trade: Börse Berlin, Börse Frankfurt, Regulated free trade:
Wiener Börse AG
language: English

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