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Christ Water sees orders up as earnings crash

By Thomas Hochwarter

Upper Austrian water processor Christ Water Technology (CWT) said today (Mon) order values had soared despite a dramatic slump in turnover so far this year.

Company officials said the value of orders rose by 56 per cent to 150 million Euros year on year in the first three quarters of this year, while turnover dropped 23 per cent to 107 million Euros.

Earnings before interest, taxes, depreciation and amortisation (Ebitda) remained in the red with a minus of 2.1 million Euros but improved compared to the first three quarters of 2008 when CWT � who are about to be taken over by Canadian firm GLV � suffered losses of 4.5 million Euros.

The Mondsee-based company�s equity decreased slightly from 37 million Euros one year ago to 35.8 million Euros.

CWT boss Malek Salamor said he hoped to seal some major contracts by the end of the year, adding: "This result is disappointing considering the positive restructuring measures we have taken."

Austrian Times

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Tag cloud:
depreciation values losses quarters based Euros slightly Malek hoped restructuring turnover positive contracts Christ Mondsee equity earnings Salamor decreased Water

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