DGAP-News: WashTec AG: WashTec on profitable growth track
(firmenpresse) - DGAP-News: WashTec AG / Key word(s): Preliminary Results
WashTec AG: WashTec on profitable growth track
05.02.2013 / 07:59
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Press Release
WashTec on profitable growth track:
- Group revenues climb by almost 3% to EUR 301.5m
- EBITDA up 50% to EUR 29.2m
- EBIT climbs to EUR 19.2m
Augsburg, February 5, 2013 - According to the preliminary figures, the
WashTec Group - the leading supplier of innovative solutions for the car
wash business worldwide - achieved its goal of improving revenues and
earnings over last year after posting a solid final quarter. WashTec
improved its Group revenues in the reporting year 2012 by almost 3% to EUR
301.5m (prior year: EUR 293.3m). Earnings before interest, taxes and
depreciation/amortization (EBITDA) rose substantially by approximately 50%
to EUR 29.2m (prior year: EUR 19.4m). In 2012, WashTec's earnings before
interest and taxes (EBIT) increased significantly to EUR 19.2m (2011: EUR
-10.1m). Revenues and earnings are thus in line with the Company's
expectations. The 2011 annual financial statements were adversely affected
by losses sustained in North America and by non-recurring effects in
connection with the restructuring measures. Consequently, overall goodwill
and other assets also had to be written down in this region in the prior
year. As of year's end 2012, the order backlog of the WashTec Group was
slightly below the prior year.
The quality of the balance sheet once again improved in the 2012 reporting
year. In this regard, net finance debt (net bank debt plus long-term and
short-term finance leasing debt) declined by EUR 16.1m to EUR 8.3m (prior
year: EUR 24.4m). Accordingly, the gearing ratio amounts to 0.1, while the
equity ratio rose from 38.8% to 46.0%.
Key preliminary Group financial information:
EURm, IFRS 2012 2011** adjusted according to IAS 8
Revenues 301.5 293.3
EBITDA 29.2 19.4
EBIT 19.2 -10.1
Net financial debt 8.3 24.4
Equity ratio 46.0% 38.8%
As was planned, the new management board members, Dr. Rautert and Dr.
Vieweg, commenced their work at the start of 2013.
The complete consolidated financial statements containing the final figures
for fiscal year 2012 are scheduled for publication on March 26, 2013.
Information on WashTec:
The WashTec Group has its registered offices in Augsburg, Germany, and is
the leading supplier of innovative solutions for the car wash business
worldwide. WashTec employs more than 1,600 persons and has its own
subsidiaries in all major markets including Core Europe, North America and
Asia/Pacific. Furthermore, WashTec has a broad network of independent sales
partners and is thereby represented in around 60 countries in total
throughout the world.
Contact:
WashTec AG
Argonstrasse 7
86153 Augsburg
Tel.: +49 (0)821 - 55 84 - 0
Fax: +49 (0)821 - 55 84 - 1135
End of Corporate News
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05.02.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solelyresponsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and 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(at)washtec.de
Internet: www.washtec.de
ISIN: DE0007507501
WKN: 750750
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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200527 05.02.2013
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Datum: 05.02.2013 - 07:59 Uhr
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News-ID 226102
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