DGAP-News: WashTec AG / Key word(s): Quarterly / Interim Statement Successful start into 2017: Further substantial first-quarter growth after strong Q4 2016 - Revenue at EUR101.2m (prior year: EUR76.8m); EBIT at EUR12.1m (prior year: EUR3.7m) - Guidance 2017: Full-year revenue growth of at least 10% and to at least EUR410m, with EBIT margin in excess of 12% - Dividend of EUR2.10 per share adopted at Annual General Meeting - Dr. Alexander Selent elected as Supervisory Board member
Earnings before interest and taxes (EBIT) of the group increased to EUR12.1m (prior year: EUR3.7m). The EBIT improvement in Europe and North America is mainly based on the revenue growth. The order backlog at the end of March was still significantly above prior year's level. The balance sheet structure of WashTec is very solid. Net financial liquidity increased to EUR6.1m (December 2016: net financial debt EUR4.5m). The equity ratio increased to 42.7% compared to 40.1% as of December 2016. Net cash flow in the first quarter increased to EUR13.7m (prior year: EUR10.6m) despite high tax payments for previous years. Annual General Meeting: dividend of EUR2.10 adopted and Dr. Alexander Selent elected as new Supervisory Board member On today's Annual General Meeting approximately 66% of the registered shared capital were present. The Annual General Meeting approved the proposals of the administration with a high majority and adopted a dividend of EUR2.10 per share. With this significant dividend increase shareholders participate in the successful business development. 58.9% of the distribution is expected to be made out of the tax contribution account. Furthermore, Dr. Alexander Selent was elected as new Supervisory Board member by the Annual General Meeting. Roland Lacher was not available for reelection for reasons of age. The Company thanks Mr. Lacher for his long-time commitment as an entrepreneur and constructive member. All other proposed resolutions were also adopted with vast majority of more than 98%. Guidance 2017: double-digit growth with EBIT margin in excess of 12% As already announced the Company aims at a double-digit revenue growth to at least EUR410m with an EBIT margin in excess of 12% for the full year. The strong growth in the first half of the year relative to 2016 is expected to slow down in the second half of the year given the strong growth seen in the corresponding prior-year quarters. General risk information The full Q1 report and further information about WashTec can be found on: www.washtec.de. Information on WashTec: Key figures:
1) Basis: on average number of shares as of 31.03.2017: 13,382,324 , 31.03.2016: 13,382,324 Contact: WashTec AG Argonstrasse 7 86153 Augsburg Tel.: +49 (0)821 - 55 84 - 0 Fax: +49 (0)821 - 55 84 - 1135
03.05.2017 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 |