Waterlogic PLC Trading Update (5168Z)
February 07 2014 - 2:00AM
UK Regulatory
TIDMWTL
RNS Number : 5168Z
Waterlogic PLC
07 February 2014
Date: 7(th) February 2014
On behalf Waterlogic Plc ("Waterlogic", the
of: "Company" or the "Group")
Embargoed until: 0700hrs
Waterlogic Plc
Trading Update
Waterlogic Plc (AIM: WTL.L), a leading manufacturer and global
distributor of point-of-use ("POU") drinking water purification and
dispensing systems, is pleased to announce a trading update for the
period up to 31 December 2013 prior to entering a close period.
The Board today announces that Waterlogic has delivered a solid
financial performance for 2013. Revenues are expected to be
approximately USD 124 million (2012: USD 101 million) for the full
year and adjusted EBITDA in line with market expectations.
2013 was a year of significant progress for Waterlogic. Group
revenues increased by approximately 23%, with organic revenue
growth expected to be in the region of 4.2% (3.5% at constant
currency). This is coupled with increased recurring rental and
service income, which now represents over 40% of revenue on an
annualised basis.
The Consumer Division had new product launches in Japan, Turkey
and Italy, with revenue increasing to approximately $1.3m in 2013
and open orders of approximately $0.8m.
The Cool Clear Water Group Limited acquisition, which
establishes Waterlogic as a significant provider on POU systems in
the Australian Market, has progressed well and performed in line
with the Board's expectations.
The Company will announce its preliminary results on 7 April
2014. An analyst briefing will be held on the day at 0930hrs at the
offices of Redleaf Polhill, First Floor, 4 London Wall Buildings,
London, EC2M 5NT. For more information please contact David Ison at
Redleaf Polhill on 020 7382 4732 or di@redleafpr.com.
Enquiries:
Waterlogic Plc Via Redleaf Polhill
Jeremy Ben-David, Group Chief
Executive Officer
Robert Bell, Chief Financial
Officer
Liberum Capital (Nominated Adviser Tel: 020 3100
and Broker) 2000
Steve Pearce
Richard Bootle
Redleaf Polhill
Rebecca Sanders Hewett / Charlie
Geller / David Ison
Tel: 0207 382
4730
waterlogic@redleafpr.com
Notes to editors:
Waterlogic Plc
Waterlogic Plc (AIM: WTL.L) is a leading designer, manufacturer,
distributor and operator of mains attached point-of-use ("POU")
drinking water purification and dispensing systems designed for
environments such as offices, factories, hospitals, hotels,
schools, restaurants and other workplaces. Waterlogic is a Jersey
registered company. Waterlogic's products and services are built on
the simple vision of a three stage approach to purity:
1. Filtration to remove unwanted contaminants, chlorine and
other water-borne tastes and odours.
2. Waterlogic's Firewall(TM) ultra-violet (UV) technology is one
of the most effective water purification technologies for POU water
dispenser applications currently on the market and its dispensers
are certified by the Water Quality Association as being able to
guarantee 99.9999% pure water 100% of the time, a fact which has
been confirmed by over 5,000 physical tests in independent
laboratories. The innovative Firewall(TM) technology incorporates a
highly-specialised, compact UV system in the faucet/tap, which
ensures that water passes through the UV system immediately before
it is dispensed into a cup. This point of differentiation for
Firewall(TM) is unique in the POU market.
3. BioCote silver antimicrobial protection. Plastic surfaces
surrounding dispensing areas of Waterlogic units are infused with a
silver additive called BioCote, a natural anti-microbial that
inhibits the growth of microorganisms, giving yet another layer of
hygienic defence.
Founded in 1992, Waterlogic was one of the first companies to
introduce POU systems to Europe and has been a leader in the POU
market in terms of product design and quality, the application of
new technologies and in sales and service. Waterlogic has an
extensive and expanding independent global distribution network in
place, reaching over 50 countries around the world.
Waterlogic products are currently being sold in North and South
America, Europe, Asia, Australia and South Africa. Waterlogic's
leading markets are the USA and Western Europe, in particular
Germany, France, Scandinavia and the UK. Of the 2.1 million new POU
and bottled water installations in the commercial market in the USA
and Europe between 2005 and 2012, approximately 77% incorporated
POU technology, of which approximately 29% were Waterlogic
products.
The Directors believe that the movement away from bottled water
coolers (BWC) to POU water dispensers is set to continue its
current trend as a result of cost, convenience, health benefits and
environmental considerations.
For the financial year ended 31 December 2012, the Group
generated revenues and adjusted EBITDA (adjusted for share based
incentives expense, capital reorganisation related costs and
acquisition related costs) of USD 101.0 million and USD 14.7
million, respectively, and had approximately 715,000 machines
installed as at 30 June 2013.
As part of Waterlogic's on-going commitment to providing safe
water, the Group has pledged to donate USD 225,000 over the three
years from 2012 to 2014 to WaterAid. WaterAid is a renowned
international non-profit organisation that transforms lives by
improving access to safe water, hygiene and sanitation in the
world's poorest countries. Since 1981 WaterAid has reached 15.9
million people globally with safe water. Website:
www.wateraidamerica.com
Website: www.waterlogic.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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