WashTec AG — Interim / Quarterly Report 2015

Apr 30, 2015

WashTec AG Q1 2015 Report

Conference Call

Significant revenues and EBIT increase – higher order backlog than prior year

• Revenues increased by 16.5 %

Q1 2015: Facts & Figures

• EBIT at € 4.3m (prior year € -0.4m)
• Net Cash Flow decreased to € 2.7m (prior year € 5.4m)

2 2012 2013 2014 WashTec AG Q1 2015 Report, Conference Call April 30, 2015

• High equity ratio

Q1 2015: Facts & Figures

• Net finance liquidity: increased due to positive Cashflow

in €m

64.8

Revenues total (Q1)

+10.7

Q1 2015: Facts & Figures Revenues and earnings development

Revenues by segment (Q1) in €m

EBIT total (Q1) in €m

EBIT by segment (Q1) in €m

Rounding differences possible

Q1 2015: Facts & Figures Profit/Loss Statement

P+L in €m	Q1 2015	Q1 2014
Revenues	75.5	64.8
Gross margin	45.4 (60.1%)	39.0 (60.2%)	Increase due to higher revenues
Personnel expenses	(27.9) [37.0%]	(26.8) [41.4%]	Increase mainly due to operational FX-effect
Other operating expenses	(12.8) [17.0%]	(11.1) [17.1%]	Increase due to negative effect from valuation of assets and liabilities in foreign currency
EBITDA	6.7	2.0
Depreciation	(2.4)	(2.4)
EBIT	4.3 [5.7%]	-0.4 [-0.6%]	Increase due to higher revenues especially in the segments equipment and service
Financial Result	(-0.1)	(-0.2)
EBT	4.2	-0.6
Tax Expenses	(-1.7)	(0.0)
Net income	2.5	-0.6
Earnings per share (in €)	0.18	-0.04

Rounding differences possible

	March 31, 2015	December 31, 2014
Balance sheet total	192.2	185.8
Goodwill	42.3	42.3
Equity	94.2	90.9	Equity ratio at 49.0%
Net finance liquidity	10.4	9.8	Increase due to positive cashflow
Net current assets	69.9	71.2	Primary reason for decrease: lower receivables

	March 31, 2015	March 31, 2014
Net cash flow	2.7	5.3	Decrease due to higher payments to tax authorities
Cash outflow from investing activities	(-1.2)	(-0.8)
Free cash flow	1.5	4.6

Rounding differences possible WashTec AG Q1 2015 Report, Conference Call April 30, 2015

For the Group: slight increase in revenues and a significant increase in EBIT

• Core Europe: stable revenues and earnings
• Eastern Europe: significant increase in revenues and slight increase in earnings
• North America: significant increase in revenues and earnings
• Asia/Pacific: significant increase in revenues and earnings

Analyst Coverage
Analyst (+ Date)	Recommen dation	Target Price (€)
BHF (02/13)	Overweight	11.70
Hauck & Aufhäuser (02/15)	Hold	15.00
HSBC (04/15)	Hold	22.00
MM Warburg (04/15)	Buy	22.70
	Average	17.85

• 1) Setanta Asset Management
• 2) Leifina GmbH & Co. KG et al.

3) Shareholder Value Management AG

4) Nmás1 Asset Management , SGIIC, S.A

Trade Volume (Xetra)
Period	Volume (pcs.)
	2015	2014
Jan.-Mar.	426.322	225.689
SDAX-Ranking	Turnover
March	124	130

April 30, 2015	1Q/2015 Report
May 13, 2015	Annual General Meeting
August 05, 2015	1H/2015 Report
October 30, 2015	3Q/2015 Report
November 23-25, 2015	Equity Forum

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Cautionary Note Regarding Forward-Looking Statements:

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.