BWT AG, 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.