WashTec AG - Earnings Release 2022

News Details

Ad-hoc | 21 July 2022 18:34

WashTec AG: Adjustment of the forecast for the fiscal year2022: revenue forecast significantly increased, EBIT margin slightly lowered.

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

WashTec AG: Adjustment of the forecast for the fiscal year2022: revenue forecast significantly increased, EBIT margin slightly lowered.

21-Jul-2022 / 18:34 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.

Due to the high order backlog, the Company now expects revenue growth of 10% – 12% for the fiscal year 2022, which corresponds to currency-adjusted growth of 8% – 10%. Thus, full-year revenue is expected to be between €476m and €484m (initially €450m – €470m).

Due to the challenges in the procurement markets with regard to supply chain issues, the development of material prices and the delayed effect of price increases, the Company is adjusting the forecast of a double-digit EBIT margin given at the beginning of the year and now expects an EBIT margin of 8% -9%. Thus, an EBIT of between €38m and €43m is expected for the full year (initially €45m – €48m).

Due to the necessary increase in inventory to ensure the ability to deliver and the expected increase in business volume, the company now expects a significantly reduced free cash flow of €10m – €20m (initially €28m – €32m).

Contact:

WashTec AG

Corporate Communications

Dr. Kerstin Reden

Argonstrasse 7

86153 Augsburg

Tel.: +49 (0)821 – 5584 – 2090

Fax: +49 (0)821 – 55 84 – 1135

21-Jul-2022 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
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1403467