WashTec AG: 2016 successfully completed with a strong fourth quarter
Press Release WashTec: 2016 successfully completed with a strong fourth quarter
- Group revenue increased to EUR 372.8m (prior year EUR 340.9m; + 9.4 %)
- EBITDA improved to EUR 53.4m (prior year EUR 46.1m; + 15.8 %)
- EBIT at EUR 44.1m (prior year EUR 36.5m; +20.9%)
- Order backlog significantly above prior year
Augsburg, January 31, 2017 - According to preliminary results WashTec - the leading worldwide supplier of innovative solutions for carwash - increased group revenue by 9.4 % to EUR 372.8m (prior year EUR 340.9m) after a strong final quarter 2016. Adjusted for exchange rate effects, revenue increased by 10.0 % compared to the prior year. In the fourth quarter the growth amounted to 18.8 %. Preliminary earnings before interest, tax, depreciation and amortization (EBITDA) were at EUR 53.4m (prior year: EUR 46.1m). Preliminary earnings before interest and tax (EBIT) were at EUR 44.1m (prior year: EUR 36.5m). This equates to an EBIT margin of 11.8 %, a further improvement compared to the prior year (10.7 %). All regions and products contributed to the revenue growth. Whilst in the first half of the year, individual customers contributed strongly to the growth, business with existing major customers, positively influenced the solid development in the second half. The order backlog, at the end of the year, was significantly higher than 2015. Therefore the company expects to continue the high level of growth into the first months of 2017. With 1,767 employees, at the end of December 2016, the number of employees increased by 78, primarily due to additional headcount in the areas of Supply Chain and Sales.
Despite investments considerably above the prior year level into the customer center, chemical business and production sites, net financial debt (net bank debt plus long- and short-term finance leasing) was only EUR 4.5m at the end of the year (prior year: net financial debt of EUR 1.9m).
Key preliminary group figures:EUR m, IFRS 2016 2015 Revenues 372.8 340.9 EBITDA 53.4 46.1 EBIT 44.1 36.5 Net financial debt 4.5 1.9
The complete consolidated financial statements containing the final figures for fiscal year 2016 are scheduled for publication on March 22, 2017.
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 1,700 employees and is represented with subsidiaries in the major markets of Core Europe, Eastern 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:WashTec AG Corporate Communications Karoline Kalb Argonstraße 7 86153 Augsburg Tel.: +49 (0)821 - 55 84 - 0Contact:WashTec AGArgonstrasse 786153 AugsburgTel.: +49 (0)821 - 55 84 - 0Fax: +49 (0)821 - 55 84 - 1135
31.01.2017 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.deLanguage: 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: email@example.com 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