SW Umwelttechnik: Business development throughout the first half-year
Category: Company results, Press releases
Company earnings have already reached the same level as in the previous year due to a strong second quarter
Good amount of incoming orders from EU-financed projects
Strong market position secures a positive development in CEE
Although SW Umwelttechnik had to accept a decrease in turnover to 23.2 m (2012: 24.0 m) - due to the on-going difficult market situation and the adverse weather conditions - EBIT has already been increased to the same level as in the previous year and a positive e EBITDA could be reported at 0.8 m. This development could be achieved due to our consistent implementation of efficiency and cost optimisation measures. The low willingness to invest from industry and trade clients means that SW Umwelttechnik continues to face a challenging environment. The increased volume of orders, however, shows a positive development of EU-subsidised wastewater projects in CEE.
The first half-year 2013 was marked by an especially long winter in all markets we work in, the effects of which, however, have been almost all compensated in the second quarter. The decrease in turnover from the first quarter was virtually caught up on and operating efficiency amounts to 23.8 m, so slightly above that of the previous year ( 23.7 m). EBIT has been increased to - 1.0 m and EBITDA to + 0.8 m, so on the same level as in the previous year. Our financial result amounts to -1.4 m, which is 1.5 m lower than in the previous year - this is due to non cash-affecting negative spreading and special revenue not being applicable. Profit or loss on ordinary activities of 2.5 m is thus still lower than in 2012 ( -0.9 m).
Second quarter development
The described catch-up effect is clearly visible in the second quarter 2012. Turnover was increased by 10 % to 17.8 m (2012: 16.2 m) and earnings were also raised. EBIT increased to 1.2 m (2012: 0.8 m) and EBITDA to 2.2 m (2012: 1.8 m). Profit/loss on ordinary activities amounted to plus 0.9 m - the development of the HUF exchange rate contributed to the improved financial result.
Volume of orders as of June 30th 2013 amounts to 45.9 m and is significantly higher than in the previous year ( 33.1 m as of June 30th 2012 and 34.8 m as of December 31st 2012). We plan on completing around 60 % in 2013 and the other 40 % in the following years.
In spite of the difficulty in estimating the development of the CEE market, the management has a positive outlook for business development in the second half-year. The implemented restructuring measures have already shown their value and further optimisation measures are currently scheduled for implementation. We expect improved company earnings with a slight increase in turnover for the full year 2013.
SW Umwelttechnik, a family firm founded in 1910 and listed on the Viennese stock exchange since 1997, stands for sustainable managemen in Eastern and South-eastern Europe. With our innovative technology to protect the environment we provide an important contribution to the development of necessary infrastructure in Central and South-eastern Europe.
This interim report on the half year 2013 is available at www.sw-umwelttechnik.comas well as the registered Company headquarters.
For further enquiries:
Dr. Bernd Wolschner
Tel: +43 463 32 109 202
Fax: +43 463 32 109 296
Michaela Werbitsch (MMag.)
Tel: +43 664 811 76 62
Fax: +43 463 32 109 195