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WashTec AG — Earnings Release 2006
Feb 12, 2007
483_rns_2007-02-12_3f060849-4eb4-4d32-b996-bcf091f67401.html
Earnings Release
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Ad-hoc | 12 February 2007 20:15
WashTec publishes preliminary group figures for fiscal year 2006
WashTec AG / Key word(s): Preliminary Results
12.02.2007 / 20:15
Ad hoc release according to article 15 WpHG (Securities Trading Act)
WashTec publishes preliminary group figures for fiscal year 2006
Augsburg, 12 February 2006 – Based on preliminary figures the WashTec Group generated sales of EUR 261.4m in the fiscal year 2006. This equals a growth of 15.8% compared to EUR 225.8m in the prior year. 2006 sales figures for the first time include a sales contribution of EUR 24.9m from Mark VII Equipment, Inc. – USA, the company that WashTec acquired at the beginning of 2006.
In the fourth quarter 2006 sales totalled EUR 71.2m which amounts to a growth of 9.9% compared to EUR 64.8m in the same period last year.
In 2006 gross profit stood at EUR 150.9m which equals 57.7% of sales (previous year: EUR 133.4m or 59.1%). The lower gross margin is primarily a result of the higher portion of machine sales as well as sales growth following the acquisition in the USA. Mark VII mostly distributes its products through independent distributors which results in a low gross profit margin.
The preliminary earnings before interests, taxes, depreciation and amortization (EBITDA) in 2006 amount to EUR 32.6m (previous year: EUR 26.1m) and thus showed an increase of 24.9%. This increase includes a charge of EUR 4.0m (charge in 2005: EUR 5.7m) for virtual stock option programmes which expired on 31 December 2005.
Earnings before interest and taxes (EBIT) rose from EUR 19.4m to EUR 24.9m and the EBIT margin increased from 8.6% to 9.5%. EBIT 2006 for the first time includes depreciation of investments in connection with the plant restructuring programmes.
In the financial year 2006 net liabilities to banks (liabilities to banks minus cash at bank) of the WashTec Group increased as a result of acquisitions in the USA and Italy and the payout of the expired virtual stock option programmes to EUR 54.2m (31 December 2005: EUR 44.2m).
Overview of key group figures (in millions of euros):
| 2006 | 2005 | ||
| Sales | 261.4 | 225.8 | |
| Gross profit | 150.9 | 133.4 | |
| EBITDA | 32.6 | 26.1 | |
| EBIT | 24.9 | 19.4 | |
| Net liabilities to banks as of | 31 Dec. | 54.2 | 44.2 |
The complete financial accounts for the group with the final figures for the 2006 fiscal year is scheduled for 30 March 2007.
WashTec AG, Argonstr. 7, 86153 Augsburg
ISIN: DE0007507501
Stock market listing: Regulated Market in Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Bremen, Düsseldorf, Munich and Stuttgart
Contact:
WashTec AG Telephone +49 (0) 821-5584-1134
Ms. Karoline Kalb E-Mail [email protected]
End of ad hoc announcement
12.02.2007 DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
| 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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