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WashTec AG — Earnings Release 2012
Feb 5, 2013
483_rns_2013-02-05_31ed58a5-0abc-4cb2-aee8-93a17e08475e.html
Earnings Release
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Corporate | 5 February 2013 07:59
WashTec AG: WashTec on profitable growth track
WashTec AG / Key word(s): Preliminary Results
05.02.2013 / 07:59
Press Release
WashTec on profitable growth track:
– Group revenues climb by almost 3% to EUR 301.5m
– EBITDA up 50% to EUR 29.2m
– EBIT climbs to EUR 19.2m
Augsburg, February 5, 2013 – According to the preliminary figures, the WashTec Group – the leading supplier of innovative solutions for the car wash business worldwide – achieved its goal of improving revenues and earnings over last year after posting a solid final quarter. WashTec improved its Group revenues in the reporting year 2012 by almost 3% to EUR 301.5m (prior year: EUR 293.3m). Earnings before interest, taxes and depreciation/amortization (EBITDA) rose substantially by approximately 50% to EUR 29.2m (prior year: EUR 19.4m). In 2012, WashTec's earnings before interest and taxes (EBIT) increased significantly to EUR 19.2m (2011: EUR -10.1m). Revenues and earnings are thus in line with the Company's expectations. The 2011 annual financial statements were adversely affected by losses sustained in North America and by non-recurring effects in connection with the restructuring measures. Consequently, overall goodwill and other assets also had to be written down in this region in the prior year. As of year's end 2012, the order backlog of the WashTec Group was slightly below the prior year.
The quality of the balance sheet once again improved in the 2012 reporting year. In this regard, net finance debt (net bank debt plus long-term and short-term finance leasing debt) declined by EUR 16.1m to EUR 8.3m (prior year: EUR 24.4m). Accordingly, the gearing ratio amounts to 0.1, while the equity ratio rose from 38.8% to 46.0%.
Key preliminary Group financial information:
| EURm, IFRS | 2012 | 2011* |
| Revenues | 301.5 | 293.3 |
| EBITDA | 29.2 | 19.4 |
| EBIT | 19.2 | -10.1 |
| Net financial debt | 8.3 | 24.4 |
| Equity ratio | 46.0% | 38.8% |
* adjusted according to IAS 8
As was planned, the new management board members, Dr. Rautert and Dr. Vieweg, commenced their work at the start of 2013.
The complete consolidated financial statements containing the final figures for fiscal year 2012 are scheduled for publication on March 26, 2013.
Information on WashTec:
The WashTec Group has its registered offices in Augsburg, Germany, and is the leading supplier of innovative solutions for the car wash business worldwide. WashTec employs more than 1,600 persons and has its own subsidiaries in all major markets including Core Europe, North America and Asia/Pacific. Furthermore, WashTec has a broad network of independent sales partners and is thereby represented in around 60 countries in total throughout the world.
Contact:
WashTec AG
Argonstrasse 7
86153 Augsburg
Tel.: +49 (0)821 – 55 84 – 0
Fax: +49 (0)821 – 55 84 – 1135
End of Corporate News
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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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| 200527 05.02.2013 |