Revenue increased in all product segments and all regions
WashTec generated revenue of €356.7m in the first nine months, once again a new record and a significant 5.3% increase in revenue compared to the prior year (€338.6m).
Significant increase in EBIT
As a result of the revenue growth and active cost management, EBIT in the first nine months was €26.9m, significantly higher than in the prior year (€22.6m). The EBIT margin improved to 7.5% (prior year: 6.7%).
Significant improvement in free cash flow
Free cash flow increased to €26.8m in the first nine months (prior year: €7.6m) as a result of higher earnings before taxes and improved net operating working capital.
Full year guidance for 2023 confirmed
Revenue on a similiar level to the prior year with an increase in EBIT by around 10%.