DGAP-News: WashTec AG / Key word(s): Final Results/Forecast WashTec AG: Revenues with EUR 302.6m on the highest level since foundation in 2000 31.03.2015 / 11:00 --------------------------------------------------------------------- - EBIT significantly increased to EUR 18.4m with EBIT-margin of 6.1% - Core Europe driver for positive development - Earnings per share increased to EUR 0,91 - WashTec plans to pay a EUR 1.65 per share dividend - Outlook: slight increase in revenues with significant increase of EBIT Augsburg, March 31, 2015 - WashTec AG - the leading supplier of innovative solution for car wash worldwide - looks back at a successful year 2014: With a revenue of EUR 302.6m (prior year: EUR 299.7m) WashTec achieved earnings before interest, tax, depreciation and amortization (EBITDA) of EUR 28.6m (prior year: EUR 27.0). Earnings before interest and tax (EBIT) were at EUR 18.4m (prior year: EUR 17.1). Thus, EBIT margin equals 6.1%. The positive development mainly results from Core Europe. The EBIT of EUR 18.4m includes one-time expenses of EUR 1.6m of the restructuring program communicated in March 2014, which was successfully implemented. EBIT before restructuring expenses amounted to EUR 20.0. Earnings per share increased significantly to EUR 0.91 (prior year: EUR 0.80) on the basis of an unchanged total number of shares of almost Mio. 13.9. As of end of 2014 order backlog of the WashTec group was significantly above prior year's level. The number of employees with 1,664 by end of December 2014 is slightly below prior year (1,681 employees). In 2014, free cash flow increased significantly to EUR 25.1m (prior year: EUR 15.7). Despite a payment of a dividend plus a special dividend in the total amount of EUR 8.9m, net financial liquidity (cash and cash equivalents minus long- and short-term financial liabilities) improved to a now positive EUR 9.8m (prior year: debt of EUR 2.9m). The equity ratio remained on a high level of 48.9% (prior year: 50.4). Therewith, WashTec's balance sheet structure is very solid. "The results of the fiscal year 2014 proof that WashTec is on the right track, to increase EBIT margin and achieve our aim of 8% EBIT until 2016", commented Dr. Volker Zimmermann, chief executive officer of WashTec AG, on occasion of today's press conference. "We are consistently focussed on our customers' needs and thereby will continuously create value." For the fiscal year 2015 WashTec aims at a slight increase in revenues and a significant increase of EBIT. Free cash flow is projected to decrease slightly, because of exceptionally high customer prepayments in 2014 and higher investments in 2015. An outlook for 2015 is subject to uncertainties, which may significantly influence the development of revenues and earnings forecasted. The critical main driver will be the investment behavior of some key accounts. The annual report for fiscal year 2014 and additional information about the company can be found on its website: www.washtec.de Information on WashTec: The 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 roughly 60 countries. Key figures: EURm, IFRS 2014 2013 Change Revenues 302.6 299.7 +2.9 EBITDA 28.6 27.0 +1.6 EBIT 18.4 17.1 +1.3 EBIT-margin 6.1 % 5.7 % +0.4 EBT 17.7 15.8 +1.9 Net income 12.7 11.2 +1.5 Earnings per share1) 0.91 0.80 +0.11 (in EUR) Dividend per share 1.652) 0.64 +1.01 Net cash flow 29.2 21.0 +8.2 Free cash flow 25.1 15.7 +9.4 EURm, IFRS Dec. 31, 2014 Dec. 31, 2013 Change Balance sheet total 185.8 174.2 +11.6 Equity 90.9 87.8 +3.1 Equity ratio 48.9 % 50.4 % -1.5 Net financial debt3) (as of Dec. 31) 9.8 -2.9 -12.7 Gearing4) -0.3 0.1 -0.4 Net current assets5) 71.2 65.2 6.0 Employees 1,664 1,681 -17 1) Basis: 13,932,312 shares in 2014; 13,934,113 shares in 2013 2) Proposal to the annual general meeting 3) Cash and cash equivalents minus long- and short-term financial liabilities 4) Net financial debt/ EBITDA 5) Current trade receivables plus inventories minus current trade payables Contact: WashTec AG Corporate Communications Dr. Johannes Ley Argonstrasse 7 86153 Augsburg Tel.: +49 (0)821 - 55 84 - 0 Fax: +49 (0)821 - 55 84 - 1135 --------------------------------------------------------------------- 31.03.2015 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 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 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 339519 31.03.2015