04. Feb 2021

WashTec AG: Revenue and EBIT for fiscal year 2020 better than expected

WashTec AG / Key word(s): Preliminary Results
WashTec AG: Revenue and EBIT for fiscal year 2020 better than expected

04-Feb-2021 / 14:57 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

For the fourth quarter 2020, WashTec achieved significantly better-than-expected revenue and earnings. Thus, overall, 2020 financial performance exceeded the expectation set at the beginning of the fourth quarter.

Preliminary revenue for fiscal year 2020 was 13.2% below prior year and at €378.7m (prior year: €436.5m). In its previously published revenue guidance, the Company had still expected a decline in revenue of 15-20%.

According to preliminary figures, the higher revenue and consistent cost management resulted in higher earnings than expected. For fiscal year 2020, WashTec expects earnings before interest and taxes (EBIT) of €20.1m (prior year: €36.3m) and an EBIT margin of 5.3% (prior year: 8.3%). This result includes one-time expenses amounting to €5.6m, including but not limited to impairments of intangible assets. Adjusted for this effect, the EBIT margin was 6.8%. The forecasted EBIT margin of 3-5% was thus also exceeded.

The complete and audited annual financial statements 2020 are expected to be published on the Company's website on 31 March 2021, and the publication of detailed preliminary figures for fiscal year 2020 is planned for the first half of February 2021.

WashTec AG
Investor Relations
Dr. Kerstin Reden
Argonstrasse 7
86153 Augsburg

Tel.: +49 (0)821 - 5584 - 2090
Fax: +49 (0)821 - 55 84 - 1135

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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: 1165924

End of Announcement DGAP News Service

1165924  04-Feb-2021 CET/CEST