* Revenues at EUR 216.2m (prior year: EUR 218.4m); EBIT at EUR 11.8m (prior year: EUR 8.9m);
* Positive business development in Core Europe; free cash flow climbs to EUR 14.0m (prior year: EUR 8.3m)
* Exhibition of numerous innovations at the Automechanika trade fair

Augsburg, October 31, 2014 - Revenues of WashTec Group - the leading supplier of innovative solutions for the car wash business worldwide - were in the first three quarters of 2014 with EUR 216.2m by EUR 2.1m below prior year due to a weaker third quarter. While revenues increased in Core Europe, in particular with regard to chemicals and services, revenues in Eastern Europe and North America were below prior year. In Asia/Pacific, revenues adjusted by foreign currency effects matched prior year's level.

The Group's EBIT, based primarily on the positive developments in Core Europe, rose to EUR 11.8m (9M 2013: EUR 8.9m). Adjusted for restructuring costs of EUR 0.9m, EBIT amounted to EUR 12.7m.

In Core Europe, the EBIT increased to EUR 11,7m (9M 2013: EUR 8.3m) in the first three quarters, which is primarily based on the revenue growth (9M 2014: EUR 178.7m; 9M 2013: EUR 176.5m). In Eastern Europe, the declining revenues (9M 2014: EUR 7.7m; 9M 2013: EUR 10.1m) together with investments into sales structures made 2013 affected the EBIT (9M 2014: EUR -0.1m; 9M 2013: EUR 0.5m). In North America, the successful implementation of the restructuring, despite a drop in revenues (9M 2014: EUR 31,4m; 9M 2013: EUR 34,7m), resulted in an only slightly lower EBIT (9M 2014: EUR 0,4m; 9M 2013: EUR 0,6m). In Asia/Pacific, despite lower revenues (9M 2014: EUR 8,2m; 9M 2013: EUR 8,7m) EBIT increased (9M 2014: EUR -0,1m; 9M 2013: EUR -0,4m) due to efficiency improvements particularly in the Australian market.

Order backlog has continued to recover in the third quarter and was slightly above prior year's level at the end of the third quarter.

Good balance sheet quality and strong cash flow

WashTec is characterized by a very solid balance sheet. Net financial debt (net bank debt + long-term and short-term finance leasing) as of September 30, 2014 amounted to EUR -0.6m (end of 2013: EUR 2.9m) despite the dividend payment. The equity ratio decreased to 47.6% (end of 2013: 50.4%) essentially due to the increased total assets and the lower equity as a result of the dividend payment. Free cash flow (net cash flow - cash outflow from investing activities) in the first three quarters amounted to EUR 14.0m (prior year: EUR 8.3m).

Efficiency program

The announced efficiency program is being implemented. If revenues develop as expected, profitability at the Group level should reach an 8% EBIT margin beginning in 2016. The efficiency program negatively affected current results by 0.9m.

Automechanika

Under the slogan "Experience & Results" WashTec exhibited at the Automechanika 2014 trade fair in Frankfurt. With a focus on a better wash experience and result for the end customer (and, therewith, a more successful business for car wash operators), WashTec presented a new, comprehensive concept for modern car wash. It includes, among others, innovations as iWash, Wash&Pay and WashTec Plus. iWash offers car wash customers for the first time the opportunity to customize their washes at the touch terminal of the gantry car wash to match their individual needs. With Wash & Pay the customer can activate the wash and pay during or after washing in the shop. For operators, this means more revenue and for car wash customers, this new type of car wash offers more comfort and less waiting time. The feedback from the trade fair visitors and customers about the innovations presented by WashTec was very positive.

Outlook for 2014: stable revenues and slight increase in earnings and EBIT margin before restructuring costs

The Company is aiming for stable revenues and a slight increase in earnings and in the EBIT margin in 2014, before accounting for the restructuring costs of the announced efficiency program.

In this respect, the following development is expected in the individual segments:

* Core Europe: slight increase in revenues, earnings and EBIT margin
* Eastern Europe: significant decline in revenues and significant reduction in earnings and EBIT
* North America: slightly declining revenues, earnings and EBIT margin
* Asia/Pacific: stable development of revenues, earnings and EBIT margin

The forecast, which is contained in the 2013 annual report and relates to the other key ratios defined at the Group level, remains the same.

The full quarterly report and more information about the company can be found at: www.washtec.de.

Key Financial Figures for the first three quarters of the year:

*Diluted = undiluted; average number of shares as of September 30, 2014: 13.932.312 shares, as of September 30, 2013: 13.932.312
**Net cash flow - cash outflow from investing activities
***Equity/total assets
****Net bank debt + long-term and short-term finance leasing
*****Current trade receivables + inventories - short-term trade payables

About WashTec:
The WashTec Group has its registered office in Augsburg, Germany, and is the leading supplier of innovative solutions for the car wash business worldwide. WashTec employs more than 1,600 persons worldwide and is represented by its subsidiaries in the core markets of Europe, the United States and Canada, as well as in China and Australia. WashTec also has independent sales partners in about 60 countries.


Contact:
Corporate Communications
WashTec
Argonstraße 7
86153 Augsburg
Tel: +49 (0) 821-55 84-0