WTL Waterlogic

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

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