Press release

WashTec improves revenues in an environment that is still difficult

- Revenue growth of approximately 5% to EUR 66.7m in the first quarter of 2012

- Almost stable EBIT despite substantial costs triggered by wage hikes and price increases

- Balance sheet improved - net finance debt reduced to EUR 18.5m, equity ratio climbs to 39.2%

- Validation of the guidance for 2012: slight revenue increase and significant improvement in adjusted earnings compared to 2011

Augsburg, May 7, 2012 - The WashTec Group - the leading supplier of innovative solutions for the car wash business worldwide - has been able to make a good start of fiscal year 2012 despite the ongoing difficult environment. For example, consolidated revenues rose in the first quarter of 2012 by 5.2% to EUR 66.7m (Q1 2011: EUR 63.4m); a trend that may be attributed to a high order backlog existing at the end of 2011. Overall, the winter months of January through March are traditionally the weakest of the year. This fact is also reflected in the earnings performance. Accordingly, as was expected, EBIT was only slightly positive at EUR 0.1m and was therefore at approximately the same level as the prior year. As in the same period of 2011, the Group would have earned EUR 0.4m after adjusting for foreign exchange effects. WashTec was able to achieve this result even though wage hikes, raw material price increases and other procurement cost escalations led to a significant increase in operating costs.

In addressing the Group's business performance, CFO Houman Khorram commented: 'Given the difficult environment that persists, we should be quite satisfied with our first quarter performance, even though there are no grounds for euphoria. Nevertheless, we are confident that we can achieve our annual objectives of slightly increasing revenues and significantly improving our adjusted earnings, particularly as the communicated strategic repositioning of the Group progresses further'.

With respect to the segments, WashTec was able during the reporting quarter to improve revenues slightly in Core Europe, while improving them significantly in North America and in the Asia/Pacific region. In Emerging Europe, business continues to grow in view of the ever-increasing order backlogs, although revenues did in fact decline during the first months of the year due to invoicing practices. With respect to revenues by product, the continued strong growth in the chemical business should be particularly highlighted. The earnings development within the segments proceeded as expected; in North America, smaller losses were once again reported as a result of the adjustments made in the previous year. As was the case during the same period of the previous year, the Group reported slightly negative pre-tax and after-tax earnings and earnings per share. As is typical during any given year, however, the Group expects a strong return to profits in the next quarter.

Strategic repositioning proceeding on schedule
The Company's strategic repositioning, which was announced in early 2012, is proceeding further. In Europe, most of the relevant projects have already started up. However, with respect to relocating some of the production to the Czech Republic, an agreement has not yet been reached with the Works Council. In North America, the measures taken to cut costs and restructure business activities proceeded according to plan. Under the emergency program launched at the end of 2011, substantial costs were cut by optimizing all structures and processes. Despite the extensive restructuring program, the Company continued to fully discharge the obligations it owed to the customers. The performance in the first quarter of 2012 confirms that even in a market environment that remains challenging, the Company has been able - already in 2012 - to significantly reduce losses compared to 2011. Efforts are still being made to narrow and focus the business activities. Potential strategic alliances also remain under review. The approaches already taken in this connection were not, however, satisfactory.

Balance sheet significantly improved
Thanks to some noteworthy prepayments from customers and quarter-related changes in other net current assets, WashTec was able to very significantly increase its net cash flow from EUR 0.8m to EUR 7.4m in the first quarter of 2012. On the other hand, net current assets declined from EUR 76.4m to EUR 71.6m. Thanks to the positive cash flow, the Company was once again able to reduce its net finance debt (net bank debt plus long-term and short-term finance leasing debt) from EUR 24.4m (end of 2011) to EUR 18.5m. The equity ratio climbed from 38.6% to 39.2%, and the gearing dropped from 0.32 to 0.24. Thus, WashTec commands a very solid balance sheet.

Outlook for 2012 confirmed: slight increase in revenues and significant increase in adjusted earnings
Historically, the first quarter of any given fiscal year is the WashTec Group's weakest quarter. The Company is therefore expecting an improvement in business primarily during the second half of the year. The Company is still holding to the goals it set for all of 2012. Based on the current volatile market environment in Europe and the special situation in North America, a forecast for 2012 is still marked by corresponding uncertainties, however:

Specifically, the annual forecast for the segments is as follows:

- Core Europe: slight revenue growth with slightly better earnings;

- North America: revenue decline of 3 - 7% and significant (50% - 70%) reduction in operating losses; the current assumption is that the North American business will be continued and that the restructuring program will be implemented;

- Emerging Europe: double-digit revenue growth with commensurate earnings performance;

- Asia/Pacific: slight revenue and earnings improvement.

On this basis, WashTec is aiming for slight revenue growth of 1 - 2% for the entire Group in 2012 together with a significant increase in adjusted earnings. Additional special charges triggered by potential strategic alliances in North America remain a possibility at this time.

The report on the first quarter of 2012 and additional information about the Company can be found on our website: www.washtec.de.

Information on WashTec:
The WashTec Group has its registered offices in Augsburg, Germany, and is the leading supplier of innovative solutions for the car wash business worldwide. WashTec employs more than 1,600 persons and has its own subsidiaries in the core markets of Europe, the United States and Canada as well as in China and Australia. WashTec also has independent sales partners in roughly 60 countries.

Contact:
Corporate Communications
WashTec AG
Argonstrasse 7
86153 Augsburg
Tel.: +49 (0) 821 - 55 84 - 0
Key first quarter financial information for the Group:

*: Basis: 13,976,790 shares
**: Net finance debt divided by equity
***: Trade receivables + inventories - trade payables

Contact:
WashTec AG
Argonstrasse 7
86153 Augsburg

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