07. Feb 2023

WashTec AG preliminary figures for 2022

WashTec AG / Key word(s): Preliminary Results
WashTec AG preliminary figures for 2022

07.02.2023 / 08:05 CET/CEST
The issuer is solely responsible for the content of this announcement.

WashTec AG preliminary figures for 2022:
  • Revenue expected to be significantly above prior year (€431m) at €482m.
  • Expected EBIT at €38m below prior year (€46m); EBIT margin: 8% (prior year: 11%)

Augsburg, February 7, 2023: The WashTec Group concluded fiscal year 2022 with revenue of €482m on preliminary figures (prior year: €431m). This represents revenue growth of 12% or €51m year on year. The increase in revenue is also due to price increases and positive currency effects. EBIT came to €38m (prior year: €46m), corresponding to an EBIT margin of approximately 8% (prior year: 11%)

Due in particular to a high output volume towards the year-end, revenue of €144m (prior year: €124m) was generated in the final quarter. With this figure, WashTec set a new quarterly record. Due to the high level of revenue, EBIT in the fourth quarter, at €15m (prior year: €13m) was significantly higher than in the prior year.

In spite of what continued to be a very challenging economic environment, the WashTec Group met its revenue and EBIT guidance for fiscal year 2022, which was revised in July.

The number of employees was 1,824 at the end of the fourth quarter of 2022, an increase of 2% on the prior year (1,782 employees).

Net financial debt (current and non-current financial liabilities less cash and cash equivalents) stood at €45m as of December 31, 2022 (prior year: €16m).

Free cash flow €16m (prior year: €42m). This development was mainly due to a decline in the operating business and higher net operating working capital.

The Group order backlog at year-end 2022 showed an increase on the prior year due to price factors.

Group preliminary key figures:
€m, IFRS 2022 2021 Change in %
Revenue 482 431 12%
EBIT 38 46 -17%
Free cash flow 16 42 -62%
          Free cash flow including repayment of lease liabilities was at €7m (prior year: €35m).

Publication of the full consolidated financial statements with the final figures for fiscal year 2022, including the guidance for the current fiscal year, and the associated conference call are planned for March 30, 2023. The Annual General Meeting 2023 takes place on May 15, 2023.

About WashTec:
The WashTec Group, based in Augsburg, Germany, is the leading provider of innovative solutions for carwash worldwide. WashTec employs around 1,800 people worldwide and has subsidiaries in Europe, North America and Asia/Pacific. In addition, WashTec is on the map in some 80 countries through independent dealers.


WashTec AG
Investor Relations
Argonstrasse 7
86153 Augsburg
Phone: +49 (0)821 5584-5555
Email: ir@washtec.com

07.02.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

Language: English
Company: WashTec AG
Argonstraße 7
86153 Augsburg
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: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1553063

End of News EQS News Service

1553063  07.02.2023 CET/CEST