WashTec AG - Earnings Release 2019

News Details

Ad-hoc | 24 October 2019 16:18

WashTec AG: Adjusted Guidance for 2019 – continued stable revenue performance with EBIT margin of now around 9%

WashTec AG / Key word(s): Change in Forecast

WashTec AG: Adjusted Guidance for 2019 – continued stable revenue performance with EBIT margin of now around 9%

24-Oct-2019 / 16:18 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

Augsburg, 24 October 2019: WashTec is adjusting its guidance for the full year 2019 and is aiming for a stable revenue performance with an EBIT margin of now around 9%.

The fourth quarter is expected to exceed the prior year’s level, although revenue growth will be lower than assumed at the half-year reporting.

The announced cost-reduction measures have started and are showing initial effects. The aim is to cut other operating expenses and to reduce the WashTec Group headcount to around 1,820 in line with the 2017 structures. This will cause additional expenses in the full year. The EBIT margin of around 9 % does not include any such extraordinary expenses.

The detailed financial statement for Q3 of 2019 will be published tomorrow, Friday, October 25, 2019.

Contact:

WashTec AG

Corporate Communications

Axel Jaeger

Argonstrasse 7

86153 Augsburg

Tel.: +49 (0)821 – 55 84 – 1134

Fax: +49 (0)821 – 55 84 – 1135

24-Oct-2019 CET/CEST The DGAP 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
Indices:	SDAX
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	896547