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PRESS RELEASE: WashTec AG: Group revenue in second quarter back at pre-pandemic level; Q2 EBIT, at EUR14.5m, broadly regains level from previous years

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DGAP-News: WashTec AG / Key word(s): Half Year Report/Half Year Results
WashTec AG: Group revenue in second quarter back at pre-pandemic level; Q2 EBIT, at EUR14.5m, broadly regains level from
previous years
2021-07-28 / 08:00
The issuer is solely responsible for the content of this announcement.
. Group revenue was EUR195.0m year to date (prior year: EUR175.4m) and EUR110.2m in second quarter (prior year: EUR88.1m)
. Group EBIT was EUR18.0m year to date (prior year: EUR5.2m) and EUR14.5m in second quarter (prior year: EUR3.5m)
. Free cash flow (including repayment of lease liabilities) EUR14.2m year to date (prior year: EUR 9.6m) and EUR10.3m in
second quarter (prior year: EUR10.1m)
. Order backlog at the end of June significantly above prior-year figure
. Guidance: Revenue expected to increase by over 9% with an EBIT margin in a range of 10%
Augsburg, July 28, 2021 - The WashTec Group generated Group revenue of EUR195.0m for the half year ending June 30, 2021,
which is EUR19.6m or 11.2% up on the prior-year period (EUR175.4m). On a constant currency basis, the year-on-year revenue
growth was 12.1%. While revenue was still slightly down in the first quarter, second-quarter revenue was up 25.1%,
putting it significantly above its prior-year level and also above the level of the pre-crisis year 2019. In total,
second-quarter revenue amounted to EUR110.2m (prior year: EUR88.1m).
Half-year consolidated EBIT was EUR18.0m (prior year: EUR5.2m). The EBIT margin for the first half year was 9.2% (prior
year: 3.0%). EBIT in the second quarter was EUR14.5m (prior year: EUR3.5m). The second quarter EBIT margin was
significantly higher than in the prior year at 13.1% (prior year: 4.0%). Compared to the prior year, earnings were
positively impacted by higher capacity utilization of factories in Q2, restructuring measures taken last year and low
cost in areas such as travel.
The order backlog at the end of June was significantly above the prior-year figure.
Free cash flow including repayment of lease liabilities (net cash flow - cash outflow from Investing activities -
repayment of lease liabilities) increased to EUR14.2m (prior year: EUR9.6m).
The Company updated its guidance on July 13, 2021. Based on the strong second quarter and the continued encouraging
order intake, the expectations for the full year 2021 are now revenue growth of over 9% and an EBIT margin in a range
of 10%. The guidance is subject to uncertainties, especially due to the corona crisis and the availability of
The Report on the First-Half Year 2021 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 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:
EURm, IFRS H1 2021 H1 2020 Change in %
Revenue 195.0 175.4 11.2
EBIT 18.0 5.2 246.2
EBIT margin in % 9.2 3.0 -
EBT 17.6 4.8 266.7
Net income 12.0 2.1 471.4
Earnings per share^ 1) (in EUR) 0.89 0.16 471.4
Free cash flow (including the repayment of lease liabilities) 14.2 9.6 47.9
EURm, IFRS 30. Jun 21 31. Dec 20 Change abs.
Balance sheet total 259.8 244.0 15.8
Equity 78.2 96.2 -18.0
Equity ratio in % 30.1 39.4 -9.3
Net operating working capital^2^) 81.5 80.6 0.9
Employees 1,758 1,770 -12 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

2021-07-28 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
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,
Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1222079

End of News DGAP News Service

1222079 2021-07-28

Image link:

(END) Dow Jones Newswires

July 28, 2021 02:00 ET ( 06:00 GMT)

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