DGAP-News: WashTec AG: Group revenue in second quarter back at pre-pandemic level; Q2 EBIT, at €14.5m, broadly regains level from previous years

• Group revenue was €195.0m year to date (prior year: €175.4m) and €110.2m in second quarter (prior year: €88.1m)
• Group EBIT was €18.0m year to date (prior year: €5.2m) and €14.5m in second quarter (prior year: €3.5m)
• Free cash flow (including repayment of lease liabilities) €14.2m year to date (prior year: € 9.6m) and €10.3m in second quarter (prior year: €10.1m)
• Order backlog at the end of June significantly above prior-year figure
• Guidance: Revenue expected to increase by over 9% with an EBIT margin in a range of 10%

Augsburg, July 28, 2021 - The WashTec Group generated Group revenue of €195.0m for the half year ending June 30, 2021, which is €19.6m or 11.2% up on the prior-year period (€175.4m). On a constant currency basis, the year-on-year revenue growth was 12.1%. While revenue was still slightly down in the first quarter, second-quarter revenue was up 25.1%, putting it significantly above its prior-year level and also above the level of the pre-crisis year 2019. In total, second-quarter revenue amounted to €110.2m (prior year: €88.1m).


Half-year consolidated EBIT was €18.0m (prior year: €5.2m). The EBIT margin for the first half year was 9.2% (prior year: 3.0%). EBIT in the second quarter was €14.5m (prior year: €3.5m). The second quarter EBIT margin was significantly higher than in the prior year at 13.1% (prior year: 4.0%). Compared to the prior year, earnings were positively impacted by higher capacity utilization of factories in Q2, restructuring measures taken last year and low cost in areas such as travel.


The order backlog at the end of June was significantly above the prior-year figure.


Free cash flow including repayment of lease liabilities (net cash flow - cash outflow from Investing activities - repayment of lease liabilities) increased to €14.2m (prior year: €9.6m).


The Company updated its guidance on July 13, 2021. Based on the strong second quarter and the continued encouraging order intake, the expectations for the full year 2021 are now revenue growth of over 9% and an EBIT margin in a range of 10%. The guidance is subject to uncertainties, especially due to the corona crisis and the availability of materials.


The Report on the First-Half Year 2021 and further information about WashTec can be found on: www.washtec.de.

About WashTec:

WashTec Group, with its registered office in Augsburg, Germany, is the leading provider of innovative car wash solutions worldwide. The company has about 1,700 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 80 countries worldwide.

Key figures:

1) Basis: on average 13,382,324 shares; basic = diluted

3) Trade receivables + inventories -trade payables - prepayments on orders



Contact:

WashTec AG

Argonstrasse 7

86153 Augsburg


Tel.: +49 (0)821 - 5584 - 0

Fax: +49 (0)821 - 5584 - 1135