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WashTec AG — Earnings Release 2005
Oct 17, 2005
483_rns_2005-10-17_268fe387-5b8e-411d-8781-bd66ff7ab99d.html
Earnings Release
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News Details
Ad-hoc | 17 October 2005 16:42
WashTec reports surge in earnings in the third quarter of 2005 – operating EBIT margin of 10% targeted for 2005 has already been reached
WashTec AG / Key word(s): Quarter Results
17.10.2005 / 16:42
Augsburg, October 17, 2005 – WashTec AG’s positive business development resulted in further sales growth and a surge in earnings in the third quarter of 2005. Driven by strong sales of the company’s rollover wash systems, third-quarter sales rose by 6.6% to reach EUR 55.2 million (Q3/2004: EUR 51.8 million). Accumulated sales in the first nine months of 2005 thus reached EUR 161.0 million, up 5.4% on the same period of the previous year (EUR 152.7 million).
The surge in earnings was based on higher sales as well as clearly improved cost structures following the completion of the company’s restructuring, lower interest expenses due to the reduction and restructuring of debt and the non-recurrence of goodwill amortisation. Earnings before tax (EBT) increased by 168% to EUR 5.9 million in the third quarter (Q3/2004: EUR 2.2 million) and by EUR 10.6 million to EUR 10.8 million in the first nine months of 2005. At 10.1%, the operating EBIT margin targeted for 2005 has already been reached (previous year: 5.0%). The balance sheet profit/profit after tax improved by EUR 2.5 million to EUR 3.5 million in the third quarter (Q3/2004: EUR 1.0 million) and by EUR 8.0 million to EUR 6.5 million in the first nine months of 2005 compared to the previous year period (previous year period: EUR -1.5 million).
Contact:
Karoline Kalb, Investor Relations
WashTec AG
Argonstraße 7
86153 Augsburg
Tel.: +49 (0)821 – 55 84 – 0
Fax: +49 (0)821 – 55 84 – 12 06
End of ad hoc announcement
17.10.2005 DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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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: | [email protected] |
| 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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| 872 17.10.2005 |