WashTec AG / Key word(s): Quarter Results/Change in Forecast
07-Apr-2017 / 13:50 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.
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With preliminary revenues of EUR 101.2m representing a growth of 31.8% versus 2016 (2016 EUR 76.8m) WashTec has concluded a strong first quarter 2017. As in Q4 2016 the high revenues were driven by a strong key account business. Preliminary EBIT rose to EUR 12.1m as of March 31, 2017 (2016 EUR 3.7m), equalling an EBIT ratio of 12.0% (2016 4.9%). The order intake of the last weeks was above average and the order backlog remains significantly above prior year. The company therefore adjusts its guidance for the full year 2017. WashTec now aims to increase revenues by more than 10% to at least EUR 410m with an EBIT margin of more than 12%.
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Original documenthttp://ir.washtec.de/websites/washtec/English/2011/news.html?newsID=1616151
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WashTec AG is a Germany-based company engaged in the provision of vehicle washing solutions. The Company and its subsidiaries focus on developing, manufacturing, selling and servicing car wash products. The Company operates through three geographical segments: Core Europe, North America, and Asia/Pacific. Its product portfolio comprises, among others, roll-over wash equipment, self-service wash equipment, commercial car wash equipment, wash tunnels,water reclaim systems and the spare parts. It also provides repair and maintenance services, including full service and call-out services, markets related products, such as detergents and care products, and provides sales financing services. The Company distributes its products in approximately 70 countries. WashTec AG is the parent company of the WashTech Group.