Press Release

WashTec preliminary figures: Fiscal year 2017 successfully completed

- Revenue increased by 14.0% or EUR52.2m to EUR425.0m (prior year: EUR372.8m)

- EBIT up by 18.4% or EUR8.1m to EUR52.2m (prior year: EUR44.1m)

Augsburg, January 31, 2018 - According to preliminary results revenue for the fiscal year 2017 of WashTec Group - the leading supplier of innovative solutions for the carwash business worldwide - was EUR425.0m, EUR52.2m or 14.0% higher than in the prior year period (EUR372.8m). As expected Q4 revenue with EUR112.5m was of the same order as in the prior year period (EUR113.0m). Preliminary Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) were at EUR62.1m (prior year: EUR53.4m). Preliminary Earnings before Interest and Tax (EBIT) were at EUR52.2m (prior year: EUR44.1m). EBIT margin was at 12.3%, a further improvement compared to the prior year (11.8%). North America and Europe contributed to the revenue growth. As reported, the extraordinarily positive business development in North America was driven by special investment programs of existing major customers. The positive performance trend of the WashTec group was sustained across all customer and product segments.
With 1,814 employees, at the end of December 2017, the number of employees increased by 47, primarily due to additional headcount in the areas of Supply Chain and Sales.
Net financial debt (net bank debt plus long- and short-term finance leasing) was EUR7.1m at the end of the year (prior year: net financial debt of EUR4.5m) - a significant reduction in the last quarter (September 2017 EUR23.3m).
The order backlog in North America at the end of the year 2017 was significantly below the exceptional 2016 year end level following bulk orders of major customers. This resulted in an extraordinarily strong Q1 2017 in North America with a revenue growth of 82.5% (WashTec Group 31.8%). The order backlog at the end of 2017 for the rest of the Group was at prior year level. Following this base effect, WashTec's business development in Q1 2018 is expected to be below the prior year quarter. Several significant contracts with major customers have successfully been extended in Q4 2017.

Key preliminary group figures:

The complete consolidated financial statements containing the final figures for fiscal year 2017 are scheduled for publication on March 21, 2018. The Annual General Meeting will take place on April 30, 2018.

About WashTec:
WashTec Group with its registered office in Augsburg, Germany, is the leading provider of innovative car wash solutions worldwide. The company has more than 1,800 employees and is represented with subsidiaries in the major markets of Europe, North America and Asia/Pacific. Moreover, WashTec has an extensive network of independent marketing partners through which it is present in around 70 countries worldwide.