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WashTec AG, DE0007507501

WashTec AG, DE0007507501

27.07.2020 - 15:53:27

WashTec AG: WashTec issues a new guidance for the financial year 2020

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

27-Jul-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

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, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1102455   End of Announcement DGAP News Service

1102455  27-Jul-2020 CET/CEST

@ dgap.de