WTL Waterlogic

TIDMWTL

RNS Number : 0514Y

Waterlogic PLC

18 February 2013

18 February 2013

Waterlogic Plc

("Waterlogic" or the "Company")

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 2012 prior to entering a close period.

The Company experienced a satisfactory close to the period with acquisitions executed during the year having a positive impact on earnings, and their integration into the Company expected to see these benefits continuing into the future

As previously announced the Company experienced weak trading from third party distributors; however we have been encouraged to see third party revenues in line with forecasts for the last quarter of 2012.

Waterlogic continues to enjoy a strong net cash position allowing the Company to pursue its attractive acquisition pipeline. The Company continues to commercialise its innovative Firewall(TM) UV technology and progress its further expansion in the consumer market, with the first commercial orders for our Consumer division being shipped to three customers in December 2012.

We expect the Group's full year results to be broadly in line with market expectations.

The Company will announce its preliminary results on 15 April 2013. An analyst briefing will be held on the day at 0930hrs at the offices of Redleaf Polhill, 4 London Wall Buildings, Moorgate, London, EC2M 5NT. For more information please contact David Ison at Redleaf Polhill on 020 7566 6739 or di@redleafpolhill.com.

Enquiries:

 
 Waterlogic Plc                             Via Redleaf Polhill 
  Jeremy Ben-David, Group Chief Executive 
  Officer 
 Liberum Capital (Nominated Adviser         Tel: +44 (0)20 3100 
  and Broker)                                2000 
  Steve Pearce 
  Richard Bootle 
  Redleaf Polhill 
  Rebecca Sanders Hewett / Emma Kane         Tel: 0207 566 6720 
  / David Ison                               waterlogic@redleafpolhill.com 
 

Notes to editors:

Waterlogic Plc (AIM: WTL.L) is a leading designer, manufacturer and distributor 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 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 1.9 million new POU and bottled water installations in the business-to-business market in the USA and Europe between 2005 and 2011, approximately 73% incorporated POU technology, of which approximately 27% 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 2011, the Group generated revenues and adjusted EBITDA (adjusted for share based incentives expense, capital reorganisation related costs and acquisition related costs) of USD 84.9 million and USD 13.4 million, respectively, and had approximately 595,000 machines installed as at 30 June 2012.

As part of Waterlogic's on-going commitment to providing safe water, the Group has pledged to donate USD 225,000 over the next three years 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.org

Website: www.waterlogic.com

- ENDS -

This information is provided by RNS

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