DGAP-News: WashTec AG / Key word(s): Final Results Publication of the annual report and outlook for the fiscal year 2017 - Higher revenue and earnings across all regions and products - Revenue of EUR372.8m, 9.4% above prior year - Fourth-quarter revenue 18.8% (EUR17.9m) above prior year - EBIT increased by over 20% to EUR44.1m, with 11.8% EBIT margin - Dividend proposal to the Annual General Meeting of EUR2.10 per share - Outlook 2017: significantly above 6 % revenue increase and further performance increase
The higher capital expenditure and the increase in capital tied up in receivables due to higher sales resulted in a decrease in free cash flow to EUR20.8m (prior year: EUR26.2m). The EUR22.8m dividend payment in May 2016 and the higher sum of EUR19.8m for capital expenditure in the fiscal year under review caused the net financial debt (cash and cash equivalents less current and non-current financial liabilities) to increase only moderately by EUR2.7m to EUR4.5m. Despite the increased balance sheet total, the equity ratio remained at a solid 40.1% (prior year: 42.2%). "We once again look back on a successful year and would like to thank all employees who made this success possible," said Dr. Volker Zimmermann, CEO of WashTec AG at today's annual press conference. "We again have big plans for 2017. Our focus areas remain growth, functional and regional excellence, innovation, leadership and teamwork." All Management Board contracts have been renewed as scheduled in the meantime. Supervisory Board members Dr. Sören Hein, Dr. Hans Liebler and Jens Große-Allermann are due for re-election at this year's Annual General Meeting. Mr. Roland Lacher is no longer available for re-election for reasons of age. Dr. Alexander Selent is therefore nominated for election to the Supervisory Board at the Annual General Meeting. Dr. Selent has served as CFO of Fuchs Petrolub AG from 1999 to 2015, thereof in addition as Deputy CEO from 2004. The Company's order backlog as of the 2016 year-end was significantly larger than at the end of the prior year. WashTec expects growth of well over 6% on a full-year basis. The first two quarters of 2017 will be significantly above prior year's level due to the extraordinary high order backlog as of December 2016. For EBIT and free cash flow, the Company aims for a corresponding rise compared with the prior-year figures. General risk information The annual report for fiscal year 2016, invitation to the annual shareholders meeting and additional information about the company can be found on: www.washtec.de. Information on WashTec: Key figures:
1) Basis: on average 13,382,324 shares in 2016; 13,766,278 shares in 2015 Contact: WashTec AG Argonstrasse 7 86153 Augsburg Tel.: +49 (0)821 - 55 84 - 0 Fax: +49 (0)821 - 55 84 - 1135
22.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
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 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |