DGAP-News: WashTec AG / Key word(s): 9-month figures
WashTec AG: Expected strong Q3 and good outlook for the next six
months
30.10.2015 / 07:00
---------------------------------------------------------------------
Press Release
Expected strong Q3 2015 and good outlook for the next six months
- Revenues increased by 13.7% to EUR 245.8m (prior year: EUR 216.2m)
- EBIT of EUR 23.3m nearly doubled (prior year: EUR 11.8m)
- Positive business development in all segments - particularly driven by
equipment and service
Augsburg, October 30, 2015 - Revenues of WashTec Group - the leading
supplier of innovative solutions for the carwash business worldwide -
increased in the first nine months of 2015 by 13.7% respectively EUR 29.6m
to EUR 245.8m. The revenues include currency effects in the amount of EUR
6.8m. All segments contributed to the revenue increase.
EBIT (earnings before interest and taxes) of the group was nearly doubled
to EUR 23.3m (prior year: EUR 11.8m). All segments developed positively -
especially Core Europe contributed to the group increase in revenues and
earnings.
The high order backlog of the commencement of the year continued to develop
positively and was therefore significantly higher by September 30, 2015
than the last year's level. Therefore a positive business development can
also be expected in the next few months.
Solid balance sheet structure
WashTec's balance sheet structure remains continuously very solid after the
dividend payment in May and the share buyback in the third quarter. Net
liquidity (bank deposit - long-term and short-term bank debt) was at EUR
-8.9m (end of 2014: EUR +15.4m) by September 30, 2015. Net cash flow
increased to EUR 17.6m (prior year: EUR 17.0m). The equity ratio decreased
to 37.0% (end of 2014: 48.9%).
Positive Outlook for 2015 and Q1 2016
Revenues and earnings increased further due to the strong third quarter in
2015. The recent growth figures from January to September 2015 do not apply
for Q4 2015 due to a strong Q4 in 2014. Therefore, WhasTec expects a growth
of around ten percent.
The actual EBIT margin per September 2015 of 9.5% will be reached for sure
for the full year. In this respect, the following development is expected
in the individual segments:
* Core Europe: revenues and earning increasing significantly and thus the
forecast is being increased compared to annual report 2014
* Eastern Europe: revenues and earnings increasing significantly
* North America: revenues and earnings increasing significantly
* Asia/Pacific: revenues and earnings increasing significantly
In the medium term, WashTec is aiming to grow organically per year three to
five percent and to reach an EBIT margin between eight to eleven percent.
This forecast is uncertain. This press release is a translation for
convenience purposes only.
The full Q3 report and additional information about the company can be
found on our website: www.washtec.de
Key financial information of the Group for the first three quarters:
<pre>
in EURm, IFRS Q1-Q3 2015 Q1-Q3 2014
Revenue 245.8 216.2
EBITDA 30.5 19.3
EBIT 23.3 11.8
EBIT margin (in %) 9.5 5.5
EBT 22.9 11.2
Consolidated net income 15.5 7.6
Earnings per share* (in EUR) 1.11 0.55
Net cash flow 17.6 17.0
</pre>
<pre>
in EURm, IFRS Sept 30, 2015 Dec 31, 2014
Balance sheet total 191.5 185.8
Equity 70.9 90.9
Equity ratio (in %) 37.0 48.9
Net financial liquidity** -8.9 15.4
Net current assets*** 78.1 71.2
Employees 1.681 1.664
</pre>
* Average number of shares: 13,904,813 (Sept 30, 2015) or 13,932,312 (Sept
30, 2014)
** Bank deposit - long-term and short-term bank debt (negative sign means
debt)
*** Short-term trade receivables plus inventories minus short-term trade
payables
<pre>
In EURm Core Europe CEE North America Asia-Pacific
Umsatz 2015 198.3 8.7 40.0 10.9
Umsatz 2014 178.7 7.7 31.4 8.2
EBIT 2015 21.8 0.1 1.2 0.3
EBIT 2014 11.7 -0.1 0.4 -0.1
</pre>
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 1,600 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 60 countries.
Contact:
WashTec AG
Corporate Communications
Karoline Kalb
Argonstrasse 7
86153 Augsburg
Tel.: +49 (0)821 - 55 84 - 0
Fax: +49 (0)821 - 55 84 - 1135
Contact:
WashTec AG
Argonstrasse 7
86153 Augsburg
Tel.: +49 (0)821 - 55 84 - 0
Fax: +49 (0)821 - 55 84 - 1135
---------------------------------------------------------------------
30.10.2015 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.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: WashTec AG
ArgonstraÃe 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
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart
End of News DGAP News Service
---------------------------------------------------------------------
406875 30.10.2015
DGAP-News: WashTec AG: Expected strong Q3 and good outlook for the next six months
| Source: EQS Group AG