In view of the current developments caused by COVID-19, the Company expects a decline in revenue of 15% to 20% for the financial year 2020 compared to the prior year (2019: Revenue €436.5m). Consequently, the Company assumes a decline in earnings before interest and taxes (EBIT) and is aiming for an EBIT margin of 3% to 5% in 2020 (2019: EBIT million € 36.3, EBIT margin 8.3%). The Company expects an increasing free cash flow for the current year (2019: free cash flow €15.0m).

The management of the WashTec Group is accelerating implementation of the Performance Program launched in prior year and is adapting the company's structures and processes to the new developments. In the medium term, the goal remains to deliver again a double-digit EBIT margin as a result of the implemented measures.


Contact:
WashTec AG
Corporate Communications
Dr. Ralf Koeppe
Argonstrasse 7
86153 Augsburg

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