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DGAP-News: WashTec AG
/ Key word(s): 9 Month figures
WashTec AG: Further significant increase in revenue and earnings in third quarter
Augsburg, October 27, 2021 - The WashTec Group generated Group revenue of €306.3m in nine months to September, which is €37.0m or 13.7% up on the prior-year period (€269.3m). At constant exchange rates, the year-on-year revenue growth was 14.3%. Revenue as of September 30 was slightly down compared with 2018 and 2019. Revenue of €111.3m was generated in the third quarter (prior year: €93.9m). This corresponds to 18.5% revenue growth (17.9% at constant exchange rates). Third quarter revenue was thus slightly up on 2019 (€110.1m) and slightly down on 2018 (€112.6m). At €33.0m in the nine months to September, Group EBIT more than doubled relative to the prior year (prior year: €12.5m). The EBIT margin was 10.8% (prior year: 4.6%). This includes a €2.7m positive non-recurring item resulting from the recognition in profit or loss of a loan granted in the prior year under the US government support program. Third quarter EBIT was €15.0m, which is significantly higher than the €7.3m seen in the third quarter of the prior year. The upward trend in orders received continued in the third quarter. The order backlog at the end of September was significantly above the prior year. Free cash flow including repayment of lease liabilities (net cash flow - cash outflow from Investing activities - repayment of lease liabilities), at €19.4m, is slightly up on the prior year (€19.0m) and significantly higher than the levels seen in 2018 and 2019. The Company regards the third quarter performance as confirmation of the updated guidance of July 13, 2021 for the Group's onward business development in 2021 and continues to expect over 9% revenue growth and an EBIT margin in the region of 10%. The guidance is subject to uncertainties, especially due to the corona crisis and the availability of materials. "The tight procurement market situation with regard to the availability of necessary materials has continued. WashTec successfully coped with this situation in recent months, with the result that there have been no interruptions in deliveries to customers. Safeguarding delivery capability and adapting procurement policies to the changing conditions remain a key priority for the Group" said Dr. Ralf Koeppe, CEO/CTO of WashTec AG. The Q3 financial statement and further information about WashTec can be found on: . About WashTec: WashTec Group, with its registered office in Augsburg, Germany, is the leading provider of innovative car wash solutions worldwide. The company has about 1,700 employees and is represented with subsidiaries in the major markets of Europe, North America and Asia/Pacific. Moreover, WashTec has an extensive network of independent marketing partners through which it is present in around 80 countries worldwide. Key figures:
1) Basis: on average 13,382,324 shares; basic = diluted 3) Trade receivables + inventories -trade payables - prepayments on orders Contact: WashTec AG Argonstrasse 7 86153 Augsburg Tel.: +49 (0)821 - 5584 - 0 Fax: +49 (0)821 - 5584 - 1135
27.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| 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: | |
| Internet: | |
| ISIN: | DE0007507501 |
| WKN: | 750750 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1243795 |
| End of News | DGAP News Service |
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1243795 27.10.2021
