WashTec AG / Key word(s): Quarter Results - Revenues at EUR 64.8m (prior year: EUR 65.3m); EBIT at EUR -0.4m (prior year: EUR -1.2m); net cash flow EUR 5.4m (prior year: EUR 5.5m) Augsburg, May 5, 2014 - Revenues of WashTec Group - the leading supplier of innovative solutions for the carwash business worldwide - in the first quarter 2014 totaled EUR 64.8m and thus were EUR 0.5m below the same period last year. In Core Europe, revenues from chemicals and services increased also due to the mild weather. In the other regions revenues declined. EBIT (earnings before interest and taxes) compared to prior year increased by EUR 0.8m to EUR -0.4m - primarily due to the positive development of revenues and earnings in Core Europe. EBIT in Core Europe rose to EUR 0.4m (previous year: EUR -1.1m). The result of North America and Asia/Pacific was stable. In Eastern Europe, earnings fell due to the decline in revenues and the expansion of distribution channels . Good balance sheet quality and strong cash flow Election proposals to the Annual General Meeting With the invitation to the Annual General Meeting, the Supervisory Board nominated Dr. Günter Blaschke, former CEO of Rational AG, and Mr. Ulrich Bellgardt, managing partner at the consulting firm ubc GmbH, for election to the Supervisory Board. Dr. Blaschke is designated to become chairman of the Supervisory Board. Mr. Michael Busch, chairman of the Supervisory Board of WashTec AG, and Mr. Massimo Pedrazzini, vice chairman of the Supervisory Board, will resign with effect as from the end of this year's Annual General Meeting scheduled for June 4, 2014. Efficiency program Outlook for 2014: Stable revenues with stable EBIT margin before restructuring costs - Core Europe: Slightly increasing revenues and earnings - Eastern Europe: Stable revenues with less than proportional earnings as a result of investments into structures - North America: Positive earnings with stable or slightly declining revenues - Asia/Pacific: Stable revenues with less than proportional earnings due to investments.
The full quarterly report and additional information about the company can be found on our website, www.washtec.de Key financial information of the Group for the first quarter:
*Average number of shares as of March 31, 2014: 13,932,312, as of March 31, 2014: 13,954,412 About WashTec: Contact: End of Corporate News 05.05.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | WashTec AG | |
Argonstraße 7 | ||
86153 Augsburg | ||
Germany | ||
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: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart | |
End of News | DGAP News-Service |
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