euro adhoc: CHRIST WATER TECHNOLOGY AG / Financial Figures/Balance Sheet / Christ reports good start in first three months 2008 (E)

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16.05.2008

• Order intake +27% to EUR 69.0 million
• Order backlog +23% to EUR 213.5 million
• Sales +33% to EUR 84.0 million
• EBITDA +84% to EUR 5.7 million
• EBIT +81% to EUR 4.2 million
• Net income +79% to EUR 2.3 million

"The first quarter was characterized by a persistently good and stable state of
the market, the first-time p&l effective inclusion and integration of the Zeta
Group, by aftereffects of cost-increasing factors in the power station business,
and positive special proceeds from a refocusing on core business in the
Netherlands," says Karl Michael Millauer, CEO of the Christ Water Technology
Group, about the first three months 2008.

The CHRIST Group´s order intake in the first three months of 2008 increased by
27% to EUR 69.0 million (previous year: EUR 54.5 million). After adjustment for
the contract values of the 2007 acquired Zeta Group (EUR 18.8 million), the
prior-year level was not reached in full. This is attributable to the stronger
focus of project activities on high-margin project business segments. The order
books are well filled in all divisions due to the order backlog of EUR 213.5
million (previous year: EUR 174.0 million) as at March 31, 2008 and the key
customers´ continuing high investment activity.

The positive sales trend persisted also in the first quarter, rising by 33% to
EUR 84.0 million (previous year: EUR 63.0 million). The comparable organic
growth rate without new business was 20%.

EBIT recovered considerably after the setback in the 4th quarter of 2007. The
operating result increased in spite of the continued impact of the strained raw
material and currency markets and the lagging effects of the cost burdens of
ongoing power station projects. The Group´s EBIT increased from EUR 2.3 million
in the previous year to EUR 4.2 million (+81%), which includes a EUR 1.8 million
one-time other income item.

Earnings before tax doubled compared to the previous year, amounting to EUR 3.9
million (previous year: EUR 1.8 million). Payment of taxes for prior years led
to a cumulative tax rate of about 40%, and the level of the comparative quarter
of the previous year (30%) was not reached due to these special effects.

At EUR 2.3 million the net income for the period under review exceeded the net
income for the comparative quarter of the previous year by 79% (previous year:
EUR 1.3 million EUR). The net earnings per share are EUR 0.12 compared to EUR
0.07 in the previous year.

Group equity (including minority participations) increased compared to December
31, 2007 by 4.3% to EUR 66.6 million (previous year: EUR 63.8 million). The
equity ratio rose from 27.7% to 27.9%. At EUR -10.5 million, cash flow from
operating activities did not reach last year´s level (EUR -3.6 million) in spite
of improved cash flow from earnings. The demand for working capital grew faster
and led to the further cash flow consumption. Gearing defined as ratio of net
debt to equity increased from 66.1% to 85.2%.

Outlook

"On the basis of the present economic environment and of the results of the 1st
quarter and the orders on hand, we expect an increase in Group sales to at least
EUR 330 million in the business year 2008. Moreover, from today´s point of view
the expectation for EBIT 2008‚ at least a doubling of EBIT 2007 and thus a
minimum of EUR 12 million, can be confirmed," says Karl Michael Millauer.

Further inquiry note:
Christ Water Technology AG
Ralf Burchert, CEFA
[email protected]
Tel.: 06232/5011-1113

end of announcement euro adhoc
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emitter: CHRIST WATER TECHNOLOGY AG
Walter-Simmer-Straße 4
A-5310 Mondsee
phone: +43/6232/5011-1001
FAX: +43/6232/5011-1109
mail: [email protected]
WWW: www.christ-water.com
sector: Biotechnology
ISIN: AT0000499157
indexes: WBI, ATX Prime
stockmarkets: official market: Wiener Börse AG
language: English

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