WashTec preliminary figures: Fiscal year 2018 completed with a strong last quarter:
- Revenue increased by EUR 10.4m to EUR 435.4m (prior year: EUR 425.0m); EBIT at EUR 51.5m (prior year: EUR 52.2m)
- Strong last quarter results to high free cash flow for the full year
- Order backlog at the end of the year above prior year level
Augsburg, January 29, 2018 - According to preliminary results revenue for the fiscal year 2018 of WashTec Group - the leading supplier of innovative solutions for the carwash business worldwide - was EUR 435.4m (prior year: EUR 425.0m). This corresponds to a revenue increase of EUR 10.4m million or growth of 2.5% for the full year. With revenues of EUR 122.7m (prior year: EUR 112.5m), the last quarter has been WashTec's strongest quarter yet. Preliminary Earnings before Interest and Tax (EBIT) were at EUR 51.5m (prior year: EUR 52.2m). EBIT margin was at 11.8% (prior year: 12.3%).
The region Europe has been the main revenue and profit driver of WashTec in 2018 and achieved the highest EBIT margin ever. Revenue and earnings in North America were lower than in the prior year, but - as forecasted - Q4 revenue increased versus prior year. In the region Asia/Pacific, China developed very positively from a low base, driving the revenue growth in the region.
After high revenue growth for Equipment in 2017, due to special orders from major customers, 2018 was a year of consolidation. As reported, in 2018 the positive development of Equipment was driven by direct sales activities. Revenue of Services and Chemicals also increased compared with the prior year.
With 1,870 employees, at the end of December 2018, the number of employees increased by 56, primarily due to additional headcount in the areas of Supply Chain, Sales and Service.
Driven by the strong last quarter, net financial debt (long- and short-term financial liabilities minus net bank debt) as of December 2018 was reduced by EUR 30.1m compared to September 2018 (EUR 40.2m), although the expected tax refund was received after the end of the year. Net financial debt was at EUR 10.1m as of December 30, 2018 (prior year: EUR 7.1m).
The Group order backlog at the end of 2018 was above the prior year. WashTec expects a correspondingly positive start for the first quarter of 2019.
Key preliminary group figures:
|EUR m, IFRS
|Net financial debt
The complete consolidated financial statements containing the final figures for fiscal year 2018 and the guidance for the current fiscal year are scheduled for publication on March 20, 2019. The Annual General Meeting will take place on April 29, 2019.
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.Contact:
Tel.: +49 (0)821 - 55 84 - 0
Fax: +49 (0)821 - 55 84 - 1135
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