BWT Profit Falls 18% on Water-Filter Business Expansion

BWT AG (BWT), an Austrian maker of water-purification equipment, said first-quarter net income fell almost 18 percent to 3.6 million euros from a year earlier as the company expanded in the water-filter business.

BWT’s growth in water filters for end customers required higher spending on employees and production, spokesman Ralf Burchert said today in a telephone interview. Cost increases and a “difficult” situation in southern Europe means profit won’t rise this year even though BWT is targeting slightly higher sales, it said in a statement.

Revenue increased 0.6 percent to 119.8 million euros in the three months ended March, BWT said. Shares of the Mondsee, Austria-based company have risen almost 20 percent over the past year.

To contact the reporter on this story: Alexander Weber in Vienna at aweber45@bloomberg.net

To contact the editor responsible for this story: Mariajose Vera at mvera1@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.