WashTec AG — Call Transcript 2017

May 3, 2017

Conference Call May 03, 2017

Strong market activities in Q1 and planned for the rest of 2017

Show Salzburg

Show Las Vegas

Show Peking

…and more to come…

Show Münster

Test tunnel Canada

After already strong Q4 2016 again a very strong quarter

Comments:

• Q1 2016 was slightly below expectation
• Positive impact for Q1 2017 by key account business
• Yoy growth of 31.8%; FX adjusted revenue increase of 30.6%
• EPS increase of 236.8% to €0.64
• Investments Q1 with €3m on same level as in 2016

All segments with high increase in Q1 2017

Q1 2017	Q1 2016	Change	in %
85.0	63.9	+21.1	+33.0
12.6	9.8	+2.8	+28.6
3.6	3.1	+0.5	+16.1
101.2	76.8	+24.4	+31.8

Significant increases in EU and North America, Asia/ Pacific below plan

Rounding differences possible, consolidation effects not included

All KPIs caused by strong top-line growth improved

in €m	Q1 2017	Q1 2016
Revenue	101.2	76.8
Gross margin	58.6 (57.9 %)	45.9 [59.7%]
Personnal expenses	(32.1) [31.7%]	(29.0) [37.8%]
Other operating expenses	(14.0) [ 13,8 %]	(11.8) [15.3%]
EBITDA	14.5	6.0
Depreciation	(2.4)	(2.2)
EBIT	12.1 [12.0 %]	3.7 [4.9%]
Financial result	(0.1)	(0.1)
EBT	12.0	3.6
Tax expenses	(3.4)	(1.1)
Net profit	8.6	2.6
EPS	0.64	0.19

Despite increase of long term receivables working capital improved

	Mar. 31, 2017	Dec. 31, 2016
in €m
Balance sheet total	224.7	218.1
Goodwill	42.3	42.3
Equity	95.9	87.4	Equity ratio 42.7%
Net financial liquidity	6.1	(4.5)	Positve cash position Q1 2017
Net Cashflow	13.7	39.9
Net working capital	81.6	91.5	Some long term AR
Cash outflow from investing activities	(2.9)	(19.1)	Full year capex 2017 expected to be below 2016
Free Cashflow	10.8	20.8

Very strong share performance in Q1 2017

Comments:

• WashTec share performance in Q1 2017 +14.95% compared to +6.0% SDAX index
• All time high in May 2017

After a strong order intake in last months WashTec raised guidance for 2017

Functional & regional Excellence

Innovation

Leadership & Employees

Guidance annual report 2016

Group:

• Revenue: Increase of more than 6% (>€395m)
• EBIT: more than 11.8%
• Cash flow: improved to py

All segments:

Substantial increase in revenues and earnings

Guidance after ad-hoc from April 4, 2017

Group:

• Revenue: Increase of more than 10% (>€410m)
• EBIT: more than 12%
• Cash flow: improved to py

All segments:

Substantial increase in revenues and earnings

9 | WashTec | Conference Call | May 03, 2017

Financial calendar

May 03, 2017	Annual General Meeting, Augsburg
May 03, 2017	Publication of Q1 Report, Augsburg
July 28, 2017	Publication of H1 Report, Augsburg
September 19-21, 2017	Baader Bank Investment Conference, Munich
October 27, 2017	Publication of Q3 Report, Augsburg
November 27-29, 2017	Equity Capital Forum, Frankfurt

Thank you for your questions

Backup: the shareholders

Disclaimer

No offer:

This document does not constitute or form part of an offer for sale or subscription or an invitation or solicitation of an offer to subscribe for or purchase any securities and neither this document nor anything contained herein shall form the basis of any contract or commitment whatsoever. neither this document nor any copy of it may be taken or transmitted into the united states or provided or transmitted to any U.S. person (within the meaning of regulations under the U.S. securities act of 1933, as amended).

Confidentiality:

This document is strictly confidential to the recipient, is being supplied to you solely for your information, may not be distributed to the press or other media (including information vendors and wire services) and may not be reproduced in any form or redistributed or passed on, directly or indirectly, to any other person or published, in whole or in part, for any purpose.

Cautionary Note Regarding Forward-Looking Statements:

This document refers to statements relating expressly and implicitly to the future. Such forward-looking statements are based on current expectations, estimates, forecasts and prognoses concerning the development of the market as well as management estimates and assumptions. Such forward-looking statements are no guarantee that events or results will actually materialise in the future and are subject to risks, uncertainties, assumptions and other factors that could lead to actual events or results deviating substantially from those anticipated in these forward-looking statements. The company assumes no obligation to update any forward-looking information.