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WashTec AG — Earnings Release 2005
Apr 21, 2005
483_rns_2005-04-21_3ef0a330-517b-440b-bd3c-d49d3ef5dda3.html
Earnings Release
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News Details
Ad-hoc | 21 April 2005 19:48
Successful development in Q1 2005
WashTec AG / Key word(s): Quarter Results
21.04.2005 / 19:48
– Sales increase by EUR 0.9 million to EUR 49.8 million – Q1 2005 EBT of EUR 1.2 million considerably above own expectations – Expansion of product range on SoftCare platform scheduled for Q2 2005
Augsburg, April 21, 2005 – In the first quarter of 2005, WashTec AG achieved the turnaround in its sales trend. Sales increased by EUR 0.9 million to EUR 49.8 million (Q1/2004: EUR 48.9 million). This is mainly due to the positive development of rollover wash systems. After the deliberate discontinuation of unprofitable business areas, WashTec achieved a sales growth compared to the previous year.
The sustained success of the implemented restructuring efforts continue to show their positive effects in the financial results. The operating EBT before non recurring expenses increased from minus EUR 1.7 million to EUR 1.5 million. The EBT of EUR 1.2 million (Q1/2004: minus EUR 1.0 million) was the first time WashTec posted a positive resulted in its traditionally weak first quarter. The net result for the quarter improved from minus EUR 1.1 million to EUR 0.7 million.
The first quarter, the positive operating cash flow was again used to reduce bank liabilities. In comparison to December 31, 2004, EUR 4.2 million bank liabilities were repaid.
The order book was better than expectations. The launch of the new rollover wash systems SoftCare Evo and SoftCare Juno, in the autumn of 2004 made a key contribution to this development. In the second quarter, the product portfolio will be further extended with the SoftCare Takt, a double rollover washing system, rounding off the premium segment.
The last running projects of the comprehensive restructuring program are to be implemented by the end of 2005. By rectification of the balance sheet structures on the equities and liabilities side, WashTec shall be placed on a solid basis in all areas. For 2005, the Management Board is targeting an operating EBIT margin of approximately 10% on slightly higher sales.
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
21.04.2005 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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| 445 21.04.2005 |