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Euro Tech Holdings Company Limited Reports 2011 Year-End Results

HONG KONG April 27, 2012 December 31, 2011

$20,213,000 $22,305,000 December 31, 2010 $521,000 $1,087,000

China

The net income for Fiscal 2011 was mainly due to the increase in contributions from the affiliate, particularly Blue Sky, gain on disposal of a property and decrease in selling and administrative expenses which offset the declines in total revenues and gross profit, research and development costs for Ballast Water Treatment System (BWTS) and additional expenses for closing some non-profitable operations.

T.C. Leung October 2011 China

Hong Kong China China China

March 2012 China

China

BWTS is an imminent requirement by The International Maritime Organization ("IMO") to prevent the biological unbalance caused by the estimated 12 billion tons of ballast water transported across the seas by ocean-going ships when their ballast water tanks are emptied or refilled. The market potential for retrofits and new installations of BWTS in these old and new ocean-going ships is enormous.

About PACT:

Shanghai

About Blue Sky

Zhejiang Tianlan Environmental Protection Technology Co. Ltd. ("Blue Sky"),  found in 2000, is a fast growing company which provides a comprehensive service for design, general contract, equipment manufacturing, installation, testing and operation management of the treatment of waste gases emitted from various boilers and industrial furnaces of power plants, steel works and chemical plants.

Hong Kong China China December 31, 2011

CONDENSED STATEMENTS OF OPERATIONS

(Dollar amounts in US$ thousands, except share and per share data)

Year Ended December 31,

2011

2010

Revenues

$     20,213

$     22,305

Net Income/(Loss) Attributable to the Company

521

(1,087)

Net Income/(Loss) Per Share — Basic

0.25

(0.52)

 

Weighted Average Number of

    Ordinary Shares Outstanding — Basic

 

 

2,087,922

 

 

2,099,894

SELECTED BALANCE SHEET DATA

As of December 31,

2011

2010

Cash and Cash Equivalents

$  5,339

$  6,130

Total Current Assets

11,685

13,556

Total Assets

23,864

25,213

Total Current Liabilities

5,955

7,112

Total Liabilities

5,955

7,112

Total Euro Tech Shareholders’ Equity

16,299

15,746

Hong Kong
T.C. Leung
Jerry Wong

http://www.euro-tech.com
http://www.pactchina.com/
http://www.tianlan.cn/

SOURCE Euro Tech Holdings Company Limited

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