DGAP-News: WashTec AG / Key word(s): Half Year Results
WashTec AG: H1 revenues 5.4 % above prior year
01.08.2016 / 08:30
The issuer is solely responsible for the content of this announcement.
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Press Release
H1 revenues 5.4 % above prior year
- Revenues increase to EUR 169.2m (prior year: EUR 160.6m); EBIT at EUR
15.5m (prior year: EUR 13.8m)
- Especially equipment and service drive growth
- Excellent customer feedback to innovations shown at Uniti expo
exhibition in Stuttgart
- Guidance for the full year confirmed: revenue increase of about 5
percent with a double-digit EBIT margin
Augsburg, August 01, 2016 - Revenues of WashTec Group - the leading
supplier of innovative solutions for the carwash business worldwide - in
the first half of 2016 increased by 5.4 % or EUR 8.6m to EUR 169.2m.
Adjusted for currency effects revenues increased by 6.3%. The Group's
consolidated revenues increased by 8.7 % in the second quarter. Revenues
with individual operators, car dealerships and smaller operator chains
particularly increased due to implemented sales optimisation measures.
Due to the revenue growth, EBIT (earnings before interest and taxes) of the
group increased to EUR 15.5m (prior year: EUR 13.8m). The segments Core
Europe and Asia/Pacific contributed to the earnings improvement. An
increase of revenues and earnings compared to prior year is expected in the
second half of the year in the segment North America.
The order backlog as of the end of June was slightly above prior year
level.
Good balance sheet quality
Net debt (short-term and long-term bank liabilities less cash and cash
equivalents) as of June 30, 2016 totaled EUR 12.8m (December 31, 2015: Net
liquidity of EUR 2.5m) following the dividend payment. Equity ratio
decreased due to the same reason to 35.1% (December 31, 2015: 42.2%). Net
cash flow increased to EUR 16.1m (prior year: EUR 12.9m).
Outlook for 2016: revenue growth of about 5 percent at a double-digit EBIT
"In the first half of the year we invested in further growth and were able
to increase our earnings at the same time. We are in a process to develop
WashTec to a globally integrated company. Thus we unlock further growth
potentials, combine regional and functional excellence, offer an attractive
and innovative product portfolio whilst strengthening leadership and
collaboration", says Dr. Volker Zimmermann, CEO of WashTec AG.
After the first half of the year, the WashTec group continues to aim at a
revenue growth of about 5 % with a double-digit EBIT.
The outlook for other key figures published in the annual report 2015 also
continues to apply. An outlook for 2016 is subject to uncertainties, which
may significantly influence the development of revenues and earnings
forecasted. This press release is a translation for convenience purposes
only.
The full H1 report can be found on our website as of August 04, 2016:
www.washtec.de
Key financial information of the Group for the first three quarters:
<pre>
EUR m, IFRS H1-2016 H1-2015
Revenue 169.2 160.6
EBITDA 20.0 18.6
EBIT 15.5 13.8
EBIT margin (in %) 9.2 8.6
EBT 15.5 13.5
Consolidated net income 10.7 8.8
Earnings per share* (in EUR) 0.80 0.63
Net cash flow 16.1 12.9
</pre>
<pre>
EUR m, IFRS June 30, 2016 Dec 31, 2015
Balance sheet total 191.5 190.0
Equity 67.2 80.3
Equity ratio (in %) 35.1 % 42.2 %
Net debt** 12.8 -2.5
Net current assets*** 77.3 78.1
Employees 1,741 1,689
</pre>
* Average number of shares: 13,382,324 (H 1 2016); 13,932,312 (H1 2015)
** Long-term and short-term bank debt - Bank deposit (negative sign means
liquidity)
*** Short-term trade receivables plus inventories minus short-term trade
payables
About WashTec:
WashTec Group has its registered offices in Augsburg, Germany, and is the
leading supplier of innovative solutions for the car wash business
worldwide. WashTec has more than 1,700 employees and has its own
subsidiaries in all key markets in Europe, North America as well as China
and Australia. WashTec also has a broad network of independent sales
partners and is thereby represented in a total of about 70 countries.
Contact:
WashTec AG
Corporate Communications
Karoline Kalb
Argonstrasse 7
86153 Augsburg
Tel.: +49 (0)821 - 55 84 - 0
Fax: +49 (0)821 - 55 84 - 1135
Contact:
WashTec AG
Argonstrasse 7
86153 Augsburg
Tel.: +49 (0)821 - 55 84 - 0
Fax: +49 (0)821 - 55 84 - 1135
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01.08.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: WashTec AG
Argonstraße 7
86153 Augsburg
Germany
Phone: +49 (0)821 55 84-0
Fax: +49 (0)821 55 84-1135
E-mail: washtec@washtec.de
Internet: www.washtec.de
ISIN: DE0007507501
WKN: 750750
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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487849 01.08.2016
DGAP-News: WashTec AG: H1 revenues 5.4 % above prior year
| Source: EQS Group AG