SW Umwelttechnik Stoiser & Wolschner AG

Earnings Release • May 20, 1999

News Details

Ad-hoc | 20 May 1999 08:05

Ad hoc-Service: SW Umwelttechnik 1. Quarter 1

Ad-hoc Mitteilung übermittelt durch die DGAP. Für den Inhalt der Mitteilung ist allein der Emittent verantwortlich. —————————————————————————— SW Umwelttechnik posts increased turnover in first quarter 1999 In the first quarter of 1999 SW Umwelttechnik registered a 16.8% year-on-year increase in turnover to ATS 51.7 million (mn) and a 44.4% increase in total output to ATS 64.8 mn. In view of the long winter, which hindered civil engineering activity severely in the first two months of the year, this was a highly encouraging growth performance. The sharp rise in total output largely reflected the increase in stocks and work in progress due to engineering order bookings (wastewater treatment plant and sewer construction projects) in Hungary. EBIT held at the level of the first quarter of 1997, during which weather conditions were similar. POA was also unchanged from the like quarter of 1997. Comparison with POA for the first quarter of 1998 is distorted by the sale of an interest in a non-core business during the period. SW Umwelttechnik’s first-quarter figures should be seen in the light of the fact that only some 10% of turnover and total output are generated during the period, and both EBIT and POA are normally negative. The company is investing heavily at present. Plant expansion and modernization projects in Hungary, and upgrading of production equipment in Austria with a view to increasing productivity, are going ahead on schedule. Most of the work will be completed in the course of the second quarter. SW Umwelttechnik remains committed to rapid expansion, and will be exploiting the room for growth created by the large investment backlog caused by EU environmental directives, as well as attractive opportunities for acquisitions for core business operations. Turnover for 1999 as a whole is expected to rise to ATS 600 mn due to organic growth. ATS ‘000 Q1 1997 Q1 1998* Q1 1999* Turnover 36,445 44,293 51,741 Total output 39,361 44,839 64,750 EBIT (14,941) (9,439) (14,918) POA (14,781) 2,439** (13,811) * Consolidated Group as of quarterly balance sheet date ** Includes proceeds of the sale of an interest in a company Contacts Heinz Wolschner, Member of the Management Board of SW Umwelttechnik Tel: (+43 463) 321 09; fax: (+43 463) 37 6 67 Christian Riel, Investor Relations Tel: (+43 463) 321 09 ext. 23; fax: (+43 463) 37 6 67; e-mail: sw_rch@magnet.at Ende der Mitteilung