05. Feb 2015

WashTec AG: Release of preliminary figures for 2014

WashTec AG / Key word(s): Preliminary Results

2015-02-05 / 08:00

WashTec: Preliminary results show slight growth in sales and significant increase in EBIT

- Group revenues increased to EUR 302.6m

- EBITDA at EUR 28.6m

- EBIT increased to EUR 18.4m

- EBIT before restructuring costs at EUR 20.0m

Augsburg, February 05, 2015 - WashTec Group - the leading supplier of innovative solutions for car wash worldwide - according to preliminary results has achieved a growth in sales of one percent up to the highest figure since foundation of WashTec group and a disproportional increase in EBIT. Group revenues are at EUR 302.6m (prior year: EUR 299.7m). Preliminary earnings before interest, tax, depreciation and amortization (EBITDA) are at EUR 28.6m (prior year: EUR 27.0m). Preliminary earnings before interest and tax (EBIT) are at EUR 18.4m (prior year: EUR 17.1m) which equals an EBIT margin of 6.1%. The EBIT of EUR 18.4m includes one-time expenses of the successfully implemented restructuring program announced in March 2014. Accordingly, before taking into account for restructuring costs preliminary EBIT amounted to EUR 20.0m. As already announced in 2014, the positive development mainly results from Core Europe.

As of end of 2014 order backlog of the WashTec group was significantly above prior years' level. The number of employees with 1.664 by end of December 2014 is slightly below prior year.

Despite a payment of a dividend plus a special dividend in the total amount of EUR 8.9m, net liquidity (cash and cash equivalents minus long- and short-term financial liabilities) developed by EUR 12.7m to the now positive figure of EUR 9.8m (prior year: debt of EUR 2.9m).
Key preliminary group figures:

EUR m, IFRS 2014 2013
Revenues 302.6 299.7
EBITDA 28.6 27.0
EBIT 18.4 17.1
Net liquidity 9.8 -2.9

The complete consolidated financial statements containing the final figures for fiscal year 2014 are scheduled for publication on March 31, 2015.

About WashTec:
WashTec Group with its registered office in Augsburg, Germany, is the leading provider of innovative car wash solutions worldwide. The company has more than 1,600 employees and is represented with subsidiaries in the major markets of Core Europe, Eastern Europe, North America and Asia/Pacific. Moreover, WashTec has an extensive network of independent marketing partners by which it is present in about 60 countries worldwide.

WashTec AG
Dr. Johannes Ley
Corporate Communications
Argonstraße 7
86153 Augsburg
Tel: +49 (0) 821 - 55 84 - 1136


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319811  2015-02-05