Press release
WashTec expects further growth in revenues and earnings for 2011

- Increase in revenues 2010 by 5% to EUR 268.4m

- EBIT improved by 55% to EUR 20.3m; EBIT-margin at 7.6%

- High net cash flow of EUR 29.1m allows substantial increase of dividend from EUR 0.12 to EUR 0.31

- WashTec aims at further increase in revenues and EBIT-margin of 8% - 9% for 2011

Augsburg, 24 March 2011 - WashTec AG - the leading supplier of innovative solutions for the carwash business worldwide - was able to increase revenues in 2010 by 4.7% to EUR 268.4m (prior year: EUR256.3m), due to a positive business development in the 4^th quarter. The increase in revenues in the final quarter of 2010 reached nearly 12%. This increase results, above all, from the expansion of the market position in Canada and Australia, while the overall development of the European market was disappointing. The Company's cash flow was improved by 40% to EUR 29.1m. In view of the positive operational development, the Company intends to increase the dividend from EUR 0.12 to EUR 0.31. Due to the full-year-effect of the businesses acquired in 2010 and further positive effects of the measures to reduce costs and increase efficiency, the management board is confident that WashTec will be able to increase both revenues and earnings in 2011.

Earnings per share increased by 88% to EUR 0.77
Earnings before interest and taxes (EBIT) have been improved by EUR 7.2m (+55%) to EUR 20.3m (prior year: EUR 13.1m), above all by implementing measures for reducing costs and improving efficiency. This corresponds to an EBIT-margin of 7.6% (prior year: 5.1%). In the 4^th quarter, EBIT grew from EUR 5.9m in 2009 to EUR 8.4m and the EBIT-margin reached 10.8%. Net income for 2010 reached EUR 10.8m (prior year: EUR 5.8m). Earnings per share climbed from EUR 0.41 to EUR 0.77.

'Although there has been no overall market recovery in 2010 in the new equipment business, we were able to return to a profitable growth by expanding our market position and to develop against the trend of the markets in a difficult environment', said CFO Houman Khorram when presenting the figures for the fiscal year 2010.

Dividend for 2010 shall be increased to EUR 0.31
In the future, WashTec will position its share more strongly than in prior years as value-oriented with an attractive return policy. WashTec intends to constantly distribute around 40% of the annual net income to the shareholders in the form of dividend payments and/or share buy backs, as long as a conservative
leverage ratio of less than one (1) can be maintained. Therefore, management and supervisory board will suggest to the annual general meeting - which is scheduled for May 5, 2011 - to increase the dividend for fiscal year 2010 significantly from EUR 0.12 to EUR 0.31.

Significant improvement of both cash flow and balance sheet
Net cash flow rose to EUR 29.1m (prior year: EUR 20.7m) based on the improved results. Due to the acquisitions, net current assets also increased in 2010 from EUR 64.3m to EUR 68.2m. The balance sheet has also been further improved during the reporting period. For example, WashTec was able to reduce the net finance debt (net bank debt plus long-term and short-term finance leasing debt) significantly by EUR10.4m to EUR 26.6m (prior year: EUR 37.0m). Equity ratio improved slightly from 42.8% to 43.5%, accordingly gearing sank significantly from 0.43 to 0.28.

Outlook 2011: Further increase in revenues and earnings expected
As already communicated, management board expects that the profitable growth combined with a solid increase in revenues and earnings will continue in 2011. However, WashTec does not anticipate a general market recovery in the short term. This means that the difficult market environment will prevail in 2011. In Europe, the Company predicts only a slight increase in revenues. In Northern America, WashTec expects a significant growth in revenues and earnings due to the activities in Canada. Based on the improved costs and efficiency, EBIT-margin is expected to increase to 8 - 9%. Cash flow is forecasted to further improve compared to 2010.

As it has previously done in the past as part of its expansion policy, WashTec will selectively search for external growth opportunities. They should serve to improve the regional presence of the Group, expand the value chain into high margin activities and enhance the Group's total return on capital. In this context WashTec will acquire, effective 01 April 2011, selected assets, such as the customer base and one sales employee, of Shop Service Center BV, the former distributor for Auwa wash chemicals in the Netherlands. The purchase price is below EUR 0.5m and included in the investments budget for 2011. Due to changed focus areas, Shop Service Center has decided to withdraw from the wash chemicals business and to sell this business area to the Dutch subsidiary of WashTec. WashTec acquires the business to ensure that all local customers of Auwa wash chemicals can be serviced directly by the Dutch subsidiary of WashTec in the future.

As part of the change within the Group's internal controls, the Company plans to convert the segment reporting to the regions »Core Europe«, »Emerging Europe«, »Northern America« and »Asia/Pacific« as of the report on the first quarter of 2011.

Key Financial Figures of the Group:

*: Base: unchanged number of shares: 13,976,970
**: Net finance debt divided by equity
***: Trade receivables + Inventories - trade payables

About WashTec:
The WashTec Group, with its headquarters in Augsburg, Germany, is the leading supplier of innovative solutions for the carwash business worldwide. WashTec employs more than 1,600 people around the world and has its own subsidiaries in the European core markets, the US and Canada as well as in China and Australia. Furthermore, WashTec is represented in around 60 countries by independent sales partners.

Further information on the Company and the full annual report 2010 can be found online at www.washtec.de.

Contact:
WashTec AG
Argonstrasse 7
86153 Augsburg

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