Positive business development in the third quarter - revenues and earnings after three quarters higher than prior year level in spite of persistently difficult general conditions

- Revenues at the end of the third quarter improve slightly to EUR 218.3m - EBIT rises to EUR 8.9m

- Positive trend in North America continues

- Analysis of the Group strategy concluded: basic strategic positioning verified

- Guidance for 2013 as a whole is confirmed: revenues at prior year level with an EBIT margin of 5-6%

Augsburg, November 6, 2013 - Despite the persistently difficult general conditions, the WashTec Group - the leading supplier of innovative solutions for the carwash business worldwide - increased its revenues after three quarters of 2013 to EUR 218.3m (9M 2012: EUR 217.1m). This increase is attributable, above all, to a strong third quarter 2013, which was expected and during which time revenues were increased by 5.2% to EUR 78.4m (Q3 2012: EUR 74.5m). Thus, as had been planned, the decline in revenues in the first half of the year was offset. After three quarters, the North American region is showing the strongest growth, while Europe, Asia-Pacific and Eastern Europe reported moderate revenue increases. EBIT (earnings before interest and taxes) rose from EUR 8.2m to EUR8.9m after three quarters. In the reporting quarter, an EBIT of EUR 6.1m was realized (Q3 2012: EUR 2.4m). The determining factor here was that the EBIT in Core Europe, due to increased revenues and an improved product mix, more than doubled from EUR 2.1m to EUR 5.6m. In North America, the favorable trend in prior quarters was continued and, because to the measures that were implemented, a significant increase in results was achieved again.

Balance sheet quality remains very good
WashTec continues to show a very solid balance sheet structure. The net financial debt (net bank debt plus long and short-term finance leasing) as of September 30, was at EUR 9.7m (End of 2012: EUR 8.3m) and the equity ratio, at 45.6%, was close to the 2012 level (46.0%). The gearing ratio - defined as the quotient of net finance debt to equity - also remained stable at a comparatively low level of 0.12 (December 31, 2012: 0.10). Net cash flow in the first three quarters was clearly positive at EUR 12.3m (prior year: EUR 15.6m).

Strategic analysis concluded
The Group strategy was finalized in the third quarter. The comprehensive strategic review of the product portfolio, the market and customer development and the growth potential of WashTec confirmed WashTec's basic strategic positioning. As the preferred global partner for automatic car wash, WashTec continues to pursue the goal of having the best understanding of its customer's business and jointly promoting that business with the customer. The strategy is based on the pillars of »operational excellence« and »growth«. The »operational excellence« strategy is implemented using individual initiatives which are managed as projects under the categories of »bottom line«, »top line«, »competitiveness« and »quality«.

A special focus lies on defending and strengthening our market position in Core Europe with regard to revenue as well as earnings. The greatest growth potential for WashTec exists in the regions of North America and, in the medium term, China, but also in Eastern Europe.

Change in the Management Board
Mrs. Karoline Kalb (41, attorney at law [Rechtsanwältin]) was appointed to the Management Board, effective as of November 1, 2013. She has been employed by WashTec since 2001 and has held various management roles, most recently as Director Key Account Management and Compliance. Mrs. Kalb will be responsible for sales globally.

Outlook for 2013 confirmed: revenues at the prior year level and EBIT margin at 5-6%
At the end of the first three quarters, WashTec's target for fiscal year 2013 is to match or, after adjusting for exchange rates, slightly surpass, the prior year revenues. In this respect, it must be taken into account that the business development in the last quarter of the prior year was unusually favorable, which is not expected in 2013 due to the reduced order backlog reported as of the end of September. An operating profit (EBIT) of 5-6% of revenues remains the goal.

For the individual segments, the Company is forecasting the following developments:

- Core Europe: Stable or slightly lower revenues - earnings, encumbered due to significant scaled wage increases and increased operating costs;

- North America: Significant increase in revenues and improved earnings;

- Eastern Europe: Stable revenues with a stable to slightly lower result due to investments in the sales and service structures;

- Asia/Pacific: Stable revenues with improved earnings.

This forecast continues to be marked by uncertainty, particularly with regard to the further development in Core Europe. The development in the coming years will depend on the implementation of the revised strategy and on the realization of growth opportunities through innovations and the expansion of business in new markets.

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 three quarters:

* Average number of shares as of 30 September 2013: 13,934,714, as of 30 September 2012: 13,971,515
** Net finance debt divided by equity
*** Trade receivables + inventories - 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 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 roughly 65 countries.

Contact:
WashTec AG
Argonstrasse 7
86153 Augsburg

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