Euro Tech Holdings Company Limited Reports 2012 Year-End Results

       Euro Tech Holdings Company Limited Reports 2012 Year-End Results

PR Newswire

HONG KONG, April 25, 2013

HONG KONG, April 25, 2013 /PRNewswire/ -- Euro Tech Holdings Company Limited
(Nasdaq: CLWT) today reported financial results for the 12-month period ended
December 31, 2012 ("Fiscal 2012").

The Company's revenues for Fiscal 2012 were approximately $21,645,000, an
approximate 7% increase compared to approximately $20,213,000 in the Company's
fiscal year ended December 31, 2011 ("Fiscal 2011"). The net loss for Fiscal
2012 was approximately $429,000, as compared to net income of approximately
$521,000 for Fiscal 2011.

The increase of the company's revenues was mainly due to increase in revenues
from engineering activities as more sales are outside China.

The net loss for Fiscal 2012 was mainly due to no profit contributions from
the affiliate, particularly Blue Sky, and research and development costs of
$930,000 spent for Ballast Water Treatment Systems (BWTS). Blue Sky has
recently decided to withdraw the listing plans because of declining profits.
If the research and development costs spent in developing the BWTS were
excluded, there would be a net income for Fiscal 2012.

Mr. T.C. Leung, Chairman and CEO of the company commented, "We are very
positive about our investment in developing our BWTS for the global markets,
despite some delays in the installation of the BWTS for seaboard test. We
reckon the close co-operation with international engineering companies for
projects outside China is the right direction for our company in view of
fierce competitions for projects in China, and the wastewater treatment for
shale-gas drilling is what we plan to pursue in the near future with some of
these engineering companies."

Currently the Company is in talks of a feasible co-operation with an European
manufacturer of BWTS which are complimentary to the BWTS under development by
the company. As the synergy could bring mutual benefits to both companies, the
co-operation will be for the company to help them reduce their costs by
manufacturing some parts of their systems in China. In return, they will sell
the company's systems in Europe and outside China when the company's systems
are ready and available.

BWTS are an imminent requirement by The International Maritime Organization
("IMO") to prevent the biological unbalance caused by the estimated 12 billion
tons of ballast water transported across the seas by ocean-going ships when
their ballast water tanks are emptied or refilled. The market potential for
retrofits and new installations of BWTS in these old and new ocean-going ships
is enormous.

In view of the keen competitions from local contractors for projects in China,
the Company has been seeking more co-operations with international engineering
companies for various wastewater engineering projects outside China. The
growing volume of wastewater produced in shale-gas drilling in many countries
including China has created many business opportunities worldwide. The company
is interested in this unique wastewater treatment business, and in talks of
co-operations with some engineering companies.

In Shale-gas drilling operations, a huge amount of water is injected deep
underground, along with sand and chemicals to fracture shale rock and extract
the embedded natural gas. Some of that water returns to the surface
immediately after the fracturing. The rest comes back over the course of
months and years. The result is that each well brings up a large amount of
fracturing wastewater and many companies are after this wastewater treatment

About Blue Sky

Zhejiang Tianlan Environmental Protection Technology Co. Ltd., ("Blue Sky"),
found in 2000, is a fast growing company which provides a comprehensive
service for design, general contract, equipment manufacturing, installation,
testing and operation management of the treatment of waste gases emitted from
various boilers and industrial furnaces of power plants, steel works and
chemical plants.

Certain statements in this news release regarding the Company's expectations,
estimates, present view of circumstances or events, and statements containing
words such as estimates, anticipates, intends, or expects, or words of similar
import, constitute forward looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements indicate
uncertainty and the Company can give no assurance with regard to actual
outcomes. Specific risk factors may include, without limitation, having the
Company's offices and operations situated in Hong Kong and China, doing
business in China, competing with Chinese manufactured products, competing
with the Company's own suppliers, dependence on vendors, and lack of long term
written agreements with suppliers and customers, development of new products,
entering new markets, possible downturns in business conditions, increased
competition, loss of significant customers, availability of qualified
personnel, negotiating definitive agreements, new marketing efforts and the
timely development of resources. See the "Risk Factor" discussions in the
Company's filings with the Securities and Exchange Commission, including its
Annual Report on Form 20-F for its fiscal year ended December 31, 2012.


(Dollar amounts in US$ thousands, except share and per share data)
                                                    Year Ended December 31,
                                                    2012         2011
Revenues                                            $   21,645 $   20,213
Net (Loss)/Income Attributable to the Company       (429)        521
Net (Loss)/Income Per Share – Basic                 (0.21)       0.25
Weighted Average Number ofOrdinary Shares          2,070,685    2,087,922
Outstanding – Basic

                                                                            As of December
                                                                            2012   2011
Cash and Cash                                                               $     $  
Equivalents 7,468 5,339
Total Current Assets                                                        12,897 11,685
Total Assets                                                                24,947 23,864
Total Current Liabilities                                                   7,191  5,955
Total Liabilities                                                           7,191  5,955
Total Euro Tech Shareholders' Equity                                        15,837 16,299

CONTACT: Euro Tech Holdings Company Limited, Hong Kong
          T.C. Leung, Chairman and CEO, or
          Jerry Wong, CFO
          Tel: 852-2814-0311
          Fax: 852-2873-4887
          Blue Sky's website:

SOURCE Euro Tech Holdings Company Limited

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