DGAP-News: WashTec AG / Key word(s): Half Year Results Press release Strong growth in half-year revenue and half-year earnings - Revenue increased by 24.1% to EUR209.9m (prior year: EUR169.2m) - EBIT up by 61.3% to EUR25.0m (prior year: EUR15.5m) - Both Europe and North America contributing to growth - Very positive outlook maintained for the full year: full year revenue of at least EUR420m with EBIT margin in excess of 12%
EBIT improved by 61.3% to EUR25.0m (prior year: EUR15.5m) at the same time as investment was made in further growth. In Germany, the regional sales and service offices are to be consolidated, with functions brought together at the Company's Augsburg headquarters by the end of the year. This will streamline and optimize processes for an even better and more flexible customer service. Second quarter EBIT was therefore and among other things affected by non-recurring effects. The EBIT ratio as of June was at 11.9% (prior year: 9.2%). The balance sheet structure of WashTec is unchanged solid. Due to the dividend payout of EUR28.1m equity ratio went down from 40.1% to 33.0% compared with the 2016 year-end. Net cash flow decreased in the first half year to EUR7.5m (prior year: EUR16.1m). It should be noted in this context that large tax payments have been made this year on earnings from previous years, whereas in the prior year there was a refund of tax on investment income. Adjusted for these non-recurring effects, the net cash flows from operating activities increased by 12.2% or EUR1.8m. Forecast 2017: revenue growth to at least EUR420m with EBIT margin in excess of 12% Following the strong first half year and with the ongoing positive trend of order intake, the Company expects an ongoing positive development for the full year 2017. The Company targets now aims at revenue totaling at least EUR420m with an EBIT margin in excess of 12%. General risk information The full H1 report and further information about WashTec can be found on: www.washtec.de. Information on WashTec: Key figures: (Definition of key figures see at glossary of the Annual Report 2016)
* Basis: on average number of shares: 13,382,324 Contact: WashTec AG Argonstrasse 7 86153 Augsburg Tel.: +49 (0)821 - 55 84 - 0 Fax: +49 (0)821 - 55 84 - 1135
28.07.2017 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 |