DGAP-News: WashTec AG / Key word(s): 9-month figures
WashTec AG: First nine month revenues 5.7% up on prior year
28.10.2016 / 08:00
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Press Release
First nine month revenue 5.7 % up on prior year
- Revenue at EUR259.8m after nine months (prior year: EUR245.8m); EBIT at
EUR25.2m (prior year: EUR23.3m)
- Year-end estimation of at least 7.5% growth
- Customer Center opened in Augsburg
- Order backlog above prior year - higher revenue growth expected in
coming months
Augsburg, October 28, 2016 - Revenues of WashTec Group - the leading
supplier of innovative solutions for the carwash business worldwide - per
September 2016, at EUR259.8m, were EUR14.0m (5.7%) higher than in the
prior-year period (EUR245.8m). Adjusted for currency effects, revenue in
the first nine months increased by 6.5%. The Group's consolidated revenues
increased by 6.3 % in the third quarter. All segments contributed to the
revenue growth in the third quarter. Further investment in global sales and
marketing activities as well as higher sales efficiency contributed to the
growth.
Mainly due to the positive revenue performance, EBIT improved to EUR25.2m
(prior year: EUR23.3m) while at the same time investment was made in
further growth. All segments contributed to the revenue growth in the third
quarter. The largest absolute increase was in the Core Europe segment.
The opening ceremony for the new customer center in September at the
Augsburg headquarters was held as part of a "Family & Friends Day" attended
by some 1,900 visitors. "The positive feedback from our customers and
employees shows us that we are on the right track with the strengthening of
our corporate philosophy and consistent focus on customer benefits. In our
new customer center, we are able to work together with our customers on the
best solutions with real technology in an appropriate environment to
present our latest innovations and to experience them", says Dr. Volker
Zimmermann, CEO of WashTec AG.
Good balance sheet quality
Net debt (short-term and long-term bank liabilities less cash and cash
equivalents) as of September 30, 2016 totaled EUR 7.0m (December 31, 2015:
net liquidity of EUR 2.5m) following the dividend payment. The equity ratio
decreased due to the same reason to 36.3% (December 31, 2015: 42.2%). Net
cash flow increased to EUR 28.5m (prior year: EUR 17.6m).
Outlook for 2016: growth of 7.5% expected for the full year; EBIT margin
also above the prior year.
On account of the large order backlog and the currently increasing order
intake from major customers, a high level of capacity utilization is
expected in production and installation in the last quarter in both Europe
and North America. The company likewise expects substantial growth compared
with the prior year for Q1 2017.
The full Q3 report and further information about WashTec can be found on
our website: www.washtec.de
Key financial information of the Group for the first three quarters:
<pre>
EUR m, IFRS Q3-2016 Q3-2015
Revenue 259.8 245.8
EBITDA 32.0 30.5
EBIT 25.2 23.3
EBIT margin (in %) 9.7 9.5
EBT 25.0 22.9
Consolidated net income 17.4 15.5
Earnings per share* (in EUR) 1.30 1.11
Net cash flow 28.5 17.6
</pre>
<pre>
EUR m, IFRS Sept 30, 2016 Dec 31, 2015
Balance sheet total 203.6 190.0
Equity 73.8 80.3
Equity ratio (in %) 36.3 42.2
Net debt** 7.0 -2.5
Net current assets*** 80.0 78.1
Employees 1,769 1,689
</pre>
* Average number of shares: 13,382,324 (Q3 2016); 13,904,813 (Q3 2015)
** Long-term and short-term bank debt - Bank deposit (negative sign means
liquidity)
*** Short-term trade receivables plus inventories minus short-term trade
payables
About WashTec:
WashTec Group has its registered offices in Augsburg, Germany, and is the
leading supplier of innovative solutions for the car wash business
worldwide. WashTec has more than 1,700 employees and has its own
subsidiaries in all key markets in Europe, North America as well as China
and Australia. WashTec also has a broad network of independent sales
partners and is thereby represented in a total of about 70 countries.
Contact:
WashTec AG
Argonstrasse 7
86153 Augsburg
Tel.: +49 (0)821 - 55 84 - 0
Fax: +49 (0)821 - 55 84 - 1135
---------------------------------------------------------------------------
28.10.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: WashTec AG
Argonstraße 7
86153 Augsburg
Germany
Phone: +49 (0)821 55 84-0
Fax: +49 (0)821 55 84-1135
E-mail: washtec@washtec.de
Internet: www.washtec.de
ISIN: DE0007507501
WKN: 750750
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
---------------------------------------------------------------------------
515417 28.10.2016
DGAP-News: WashTec AG: First nine month revenues 5.7% up on prior year
| Source: EQS Group AG