Ad Hoc Notice under § 15 of the Securities Trading Act (WpHG) - Significant revenue growth and stable earnings after first three quarters of 2011

- Adjustment of annual targets due to weaker orders and additional measures to improve efficiency

- Development in North America below expectations, review of all strategic options for the region

Augsburg, 03 November 2011 - After the first three quarters of fiscal year 2011, WashTec AG - the leading supplier of innovative solutions for the car wash business worldwide - has reported significant revenue growth of 11.8% to EUR212.7m (prior year: EUR190.3m) and stable operating earnings (EBIT) of EUR11.7m (prior year: EUR11.9m). Due to unanticipated losses in North America and a worsening market environment in Europe, the result did not, however, meet expectations. Since incoming orders in the third quarter were likewise below last year's level, the Company is expecting that the market environment will not recover substantially in the near-term. Based on the information currently available, the Company is forecasting a 10-15% decline in operating earnings (EBIT) for all of 2011 compared to the prior year. WashTec has therefore resolved today to launch a comprehensive group-wide program for effectively improving earnings in all areas. The one-time expenditures, which will be incurred here for the restructurings and write-downs, will additionally reduce results significantly in the current fiscal year. In its earlier forecast, the Company had expected a considerable improvement in earnings.

Unanticipated losses in North America reduced results in this region in the third quarter. As of the end of September, the earnings equaled EUR -3.1m (prior year: EUR -3.3m), despite the revenue growth. Also in the fourth quarter, no improvement in earnings is expected. Therefore the earnings will be clearly negative as of the end of the year. The findings, which were newly made after a management change and in connection with the preparation of the quarterly financial statements, are currently being analyzed and verified. In the meantime, the person formerly responsible for the 'DACH' region, the largest entity of the WashTec Group, has been appointed as CEO in the USA. Furthermore the local finance department has been strengthened by an employee from the German headquarters. The Management Board will take appropriate action and evaluate the strategic options and will be actively monitoring the next course of action to take in North America. In this respect, impairment testing of goodwill will also be performed.

The full quarterly report will be published on 4 November 2011.

WashTec AG, Argonstr. 7, 86153 Augsburg ISIN: DE0007507501

Contact:
WashTec AG
Argonstrasse 7
86153 Augsburg

Tel.: +49 (0)821 - 55 84 - 0
Fax: +49 (0)821 - 55 84 - 1135