30.04.2018
WashTec AG DE0007507501
DGAP-News: WashTec AG: Start into 2018: Business performance as expected in the first quarter of 2018
DGAP-News: WashTec AG / Key word(s): Quarterly / Interim Statement/Quarter
Results
WashTec AG: Start into 2018: Business performance as expected in the first
quarter of 2018
30.04.2018 / 14:56
The issuer is solely responsible for the content of this announcement.
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Press Release
Start into 2018: Business performance as expected in the first quarter of
2018
- Revenue EUR 91.5m (prior year: EUR 101.2m); EBIT EUR 5.4m (prior year: EUR
12.1m)
- Revenue and EBIT decrease in comparison to atypically strong Q1 2017 with
32% revenue growth
- Guidance for 2018 confirmed: Full-year revenue growth of about three
percent with significant improvement in EBIT
- Dividend of EUR 2.45 per share adopted at Annual General Meeting
- Dr. Günter Blaschke and Ulrich Bellgardt re-elected as Supervisory Board
members by Annual General Meeting and serve again Chairman and Deputy
Chairman
Augsburg, April 30, 2018 - Revenue of WashTec Group - the leading supplier
of innovative solutions for the carwash business worldwide - through to
March 2018, at EUR 91.5m (prior year: EUR 101.2m) was 9.6% down on the prior
year, adjusted for exchange rate effects 6.9%. It must be noted in this
connection that business performance in the first quarter of 2017 was
particularly strong due to orders from major customers. Growth was 32%
compared with 2016. This resulted in lower revenue in Equipment and Service
compared with the prior year. In Chemicals, lower numbers of car washes due
to weather conditions caused a decrease in revenue during the first two
months of the year, whereas March saw a return to double-digit growth.
Mainly as a result of the revenue performance, EBIT decreased in the first
quarter of 2018 by EUR 6.7m to EUR 5.4m (prior year: EUR 12.1m).
Adjusted for currency effects, the shortfall on the order backlog was almost
fully made up by the end of the first quarter, with the order backlog still
only slightly below its prior-year level. New orders from direct sales
showed double-digit growth in the first quarter compared with the prior
year.
Annual General Meeting: dividend of EUR2.45 adopted and Dr. Günter Blaschke
and Ulrich Bellgardt re-elected as Supervisory Board members
On today's Annual General Meeting approximately 63% of the registered shared
capital were present. The Annual General Meeting approved the proposals of
the administration with a high majority and adopted a dividend of EUR 2.45
per share. With this dividend increase shareholders participate in the
successful business development. 36.9% of the distribution is expected to be
made out of the tax contribution account. Dr. Günter Blaschke and Ulrich
Bellgardt were re-elected as Supervisory Board members. Dr. Blaschke
continues to serve as Chairman and Mr. Bellgardt as Deputy Chairman of the
Supervisory Board. All other proposed resolutions were also adopted with
vast majority.
Guidance for 2018 confirmed: Full-year revenue growth of about three percent
with significant improvement in EBIT
The Company confirms that it aims for revenue growth of around three percent
for the full year 2018 with a significant increase in EBIT and free cash
flow.
General risk information
Any outlook is subject to uncertainties that could have a material effect on
forecast revenue and earnings performance.
The Q1 financial statement and further information about WashTec can be
found on: www.washtec.de.
About WashTec:
WashTec Group with its registered office in Augsburg, Germany, is the
leading provider of innovative car wash solutions worldwide. The company has
more than 1,800 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 70 countries worldwide.
Key figures:
EUR m, IFRS Q1 2018 Q1 2017 Change in %
Revenue 91.5 101.2 -9.6
EBITDA 7.9 14.5 -45.5
EBIT 5.4 12.1 -55.4
EBIT margin in % 5.9 12.0 -
EBT 5.3 12.0 -55.8
Consolidated net income 2.7 8.6 -68.6
Earnings per share 1) (in EUR) 0.20 0.64 -68.8
Dividend per share (in EUR) 2.45 2.10 16.7
Net cash flow -0.8 13.7 -105.8
Free cash flow -3.0 10.8 -127.8
ROCE in % 25.6 32.4 -
EUR m, IFRS 31. Mar 18 31. Dec 17 Change abs.
Balance sheet total 234.5 233.9 0.6
Equity 95.8 94.2 1.6
Equity ratio 40.9 40.3 0.6
Net operating working capital 2) 82.9 86.7 -3.8
Employees 1,830 1,814 16
1) Basis: on average 13,382,324 shares
2) Trade receivables + inventories -trade payables - prepayments on orders
Contact:
WashTec AG
Argonstrasse 7
86153 Augsburg
Tel.: +49 (0)821 - 55 84 - 0
Fax: +49 (0)821 - 55 84 - 1135
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30.04.2018 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
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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: [email protected]
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
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680861 30.04.2018
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