WashTec AG — Interim / Quarterly Report 2014

Aug 5, 2014

WASHTEC AG H1 2014 Report

Conference Call

WashTec AG H1 2014 Report, Conference Call August 05, 2014

Revenues and EBIT improved due to positive business development in Core Europe

• Revenues increased by 1.4%

H1 2014: Facts & Figures

• EBIT at € 5.9m compared to € 2.8m PY
• Net Cash Flow slightly below PY

Solid balance sheet structure

• Equity ratio: slight decrease mainly due to lower eqity caused by dividend payment
• Net finance debt: Increased due to financing of dividend payment

WashTec AG H1 2014 Report, Conference Call August 05, 2014

3

H1 2014: Facts & Figures

H1 2014: Facts & Figures Revenues and earnings development

Revenues total (H1) in €m

Revenues by segment (H1) in €m

EBIT total (H1) in €m

+3.1

5.9

EBIT by segment (H1)

in €m

WashTec AG H1 2014 Report, Conference Call August 05, 2014

Rounding differences possible

H1 2014: Facts & Figures Profit/Loss Statement

P+L	H1 2014	H1 2013
Revenues	141.9	139.9
Gross margin	86.3 (60.8%)	83.6 (59.7%)
Personnel expenses	(54.6) [38.5%]	(53.1) [38.0%]
Other operating expenses	(22.5) [15.5 %]	(24.9) [17.8%]
EBITDA	11.0	7.7
Depreciation	(5.1)	(4.9)
EBIT	5.9 [4.2%]	2.8 [2.0%]
Financial Result	(0.3)	(0.7)
EBT	5.6	2.2
Tax Expenses	(1.9)	(1.4)
Net income	3.6	0.8
Earnings per share (in €)	0.27	0.06

Increase due to changed mix of products and regions and higher revenues

Increase mainly due to tariff increases in Core Europe, recruitment of additional employees in growth regions and effects from efficiency program

Lower write-downs of receivable, lower foreign currency losses, cost cuts in various areas

Rounding differences possible

WashTec AG H1 2014 Report, Conference Call August 05, 2014

Balance sheet total 174.2 181.8 Goodwill 42.3 42.3 Equity ratio at 45.5% Equity 82.7 87.8 Net finance debt 6.9 2.9 payment Increase primarily because 70.2 Net current assets 65.2 receivables and inventories	June 30, 2014	Dec. 31, 2013
Increase mainly due to dividend
			were higher

	June 30, 2014	June 30, 2013
Net cash flow	7.3	7.7
Cash outflow from investing activities	(2.0)	(2.8)
Free cash flow	5.4	4.9

Slight decrease due to increase of trade receivables because of higher revenues

Rounding differences possible WashTec AG H1 2014 Report, Conference Call August 05, 2014

For the Group: stable revenues and a slight increase in earnings and EBIT margin (before restructuring costs of the efficiency program)

• Core Europe: slight increase in revenues, earnings and EBIT margin
• Eastern Europe: slight decline in revenues and significant reduction in earnings and EBIT margin due to capital expenditure made in structures
• North America: slightly declining revenues and earnings as well as stable EBIT margin
• Asia/Pacific: stable development of revenues, earnings and EBIT margin

H1 2014: Facts & Figures Share

Analyst Coverage
Analyst (+ Date)	Recommen dation	Target Price (€)
BHF (02/13)	Overweight	11.70
Hauck & Aufhäuser (05/14)	Buy	14.00
HSBC (04/14)	Overweight	14.00
MM Warburg (03/14)	Buy	15.00
Average		13.68

Source: Notifications pursuant to WpHG

WashTec AG H1 2014 Report, Conference Call August 05, 2014

4) Nmás1 Asset Management , SGIIC, S.A

Trade Volume (Xetra)
	Volume (pcs.)
Period	2014	2013
Jan.- June	481,612	373,597
SDAX-Ranking	Turnover
June	131	130

August 5, 2014	1H/14 report
November 4, 2014	3Q/14 report
November 24 - 26, 2014	Equity Forum

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This document refers to statements relating expressly and implicitly to the future. Such forward-looking statements are based on current expectations, estimates, forecasts and prognoses concerning the development of the market as well as management estimates and assumptions. Such forward-looking statements are no guarantee that events or results will actually materialise in the future and are subject to risks, uncertainties, assumptions and other factors that could lead to actual events or results deviating substantially from those anticipated in these forward-looking statements. The company assumes no obligation to update any forward-looking information.