Revenues: €397.7 million (up 3.5%)

EBIT: €17.6 million (up 1.7%)

Group consolidated net earnings after minority interests: €9.6 million (up 7.0%)

In the first three quarters of 2015, the BWT Group's consolidated revenues rose by 3.5% year on year to €397.7 million. Growth was driven primarily by the Point of Use business and the Service business. Foreign exchange rate changes (primarily EUR/CHF) also had a positive effect.

EBIT rose by 1.7% from €17.3 million to €17.6 million and the Group's consolidated net earnings after minority interests improved by €0.6 million to €9.6 million. As expected, investments in property, plant and equipment dropped from €18.2 million to €8.0 million in the reporting period, after the completion of major investments in Germany and Austria in 2014. Higher cash flow from earnings and an improvement in working capital year on year saw operating cash flow increase from €22.2 million to €42.1 million.

As at 30 September 2015, the BWT Group's consolidated balance sheet showed an equity ratio of 39.6% compared with 46.2% in September of last year and 41.9% as at the end of 2014. The BWT Group's net debt decreased year on year from €29.9 million to €0.4 million as a result of good operating cash flow. As at 30 September 2015, gearing (debt ratio) stood at 0.2% compared with 16.9% on 30 September of last year. As at the end of September, the BWT Group's employee headcount was 2,642 people (previous year: 2,587).

Outlook

In October, the acquisition by the BWT Group of a majority interest in the Russian group Mettem Technologies, with operations in the Point of Use consumer business, was closed.

The merger of BWT Aktiengesellschaft with the BWT Holding AG subsidiary and the associated delisting of BWT's share on the Vienna Stock Exchange, which were resolved at the last Annual General Meeting, were suspended by the competent Regional Court of Wels. BWT Aktiengesellschaft has since then appealed against this resolution.

For the current 2015 financial year, the BWT Group anticipates a slight rise in revenues. In the previous year, consolidated revenues amounted to €505 million. Last year's Group earnings of approximately €10 million can still be achieved despite the planned high advertising expenditure and impairment of fixed assets. The interim report for the third quarter of 2015 is available on our homepage at 'Qarterly reports'.

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