Positive revenue performance in all product areas
WashTec generated revenue of €236.2m in the first six months of the year, once again a new record for a first half-year and a significant 7.4% increase in revenue compared to the prior year (€220.0m). In addition to the price rises that had been implemented and strong growth in the key account business, the chemicals business also contributed significantly to the positive performance with the acquisition of new customers.
Significant increase in EBIT
As a result of the revenue growth and proactive cost management, EBIT in the first half of the year was €15.4m, significantly higher than in the prior year (€12.9m).
The EBIT margin in the first six months improved to 6.5% (prior year: 5.9%).
Significant improvement in free cash flow
Free cash flow improved to €6.5m in the first half of the Year (prior year: €−2.5m) as a result of the improvements in earnings and in net operating working capital management. This positive outcome was achieved despite the €9.5m acquisition of the site occupied by the American subsidiary.
Full year guidance for 2023 confirmed
Revenue on a similar level to the prior year with a Significant increase in EBIT