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WashTec AG — Interim / Quarterly Report 2022
Oct 27, 2022
483_ip_2022-10-27_6bafef68-a498-4d68-9e5f-fb0fb94badc1.pdf
Interim / Quarterly Report
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Q3 Report | October 27th, 2022
Dr. Ralf Koeppe, Andreas Pabst, Stephan Weber Board of Management WashTec AG
Experienced Management Board with proven track record in various Disciplines and markets
Dr. Ralf Koeppe CEO / CTO
- Corporate Development
- Human Resources
- Research & Development
- Supply Chain
- Quality
Andreas Pabst CFO
- Finance / Accounting
- IT
- Purchasing
- Investor Relations
- WashTec Financial Services
- Legal
- Risk-Management / Compliance / Revision
- Insurance
Stephan Weber CSO
- Sales & Service
- Product Management and Marketing
2 | Q3 report | October 27, 2022 | WashTec AG
1 Update WashTec
3 | Q3 report | October 27, 2022 | WashTec AG
WashTec is the leading supplier of innovative vehicle wash solutions worldwide. The product range includes all types of vehicle washing systems as well as associated peripheral equipment, washing chemicals and water recovery systems. As specialists in environmentally friendly car wash, we are continuously working on innovations as a contribution to a sustainable mobility today and tomorrow.
In addition, WashTec offers comprehensive service packages and digital smart service solutions over the entire life cycle of the products - these include maintenance, chemical supply, equipment take-back, as well as services for arranging financing or operator management of equipment. The main revenue drivers are the product areas of machinery, service and chemicals.
Sustainability Report - Add. energy saving measures of approx. 20%
Download https://ir.washtec.de/en/sustainability
ESG Award for WashTec AG
The Steinbeis Augsburg Business School awards WashTec the prize
WashTec – ESG Company of the Year
Other award winners are:
- Hansgrohe GmbH
- Nürnberger Wach- und Schließgesellschaft mbH
WashTec ESG program Economic sustainability Leadership in sustainable carwash
Energy Saving Changing JetWash from warm to cold wash Enormously reduced energy consumption with consistent wash quality
Example: 2 space JetWash site
One time invest 1200 € Yearly savings* 1.624 € (gas) / 2.072 € (heating oil)
*based on energy prizing in August 2022
First US customer installations of SmartCare & water retreatment system
2 Q3 2022 results
9 | Q3 report | October 27, 2022 | WashTec AG
Q3 – Strong revenue growth; EBIT ratio at 8.2%; positive FCF development
Q3 Revenue: strong development of the machinery and service segment
Q3 Revenue: growth in Europe and North America; all segments impacted by material cost increase
from a government support program in the
amount of €2.7 million.
Q3 report | October 27, 2022 | WashTec AG 12 |
Q3 YTD – Strong revenue growth; FCF impacted by planned increase in inventories to safeguard delivery capability
Q3 YTD EBIT - affected by time lag between material price rises and own price increases, higher portion of key-account business and increase in selling cost due to volume growth and exhibition expenses
in million Euro
Q3 YTD – double digit growth in equipment/service and chemicals
Q3 YTD – Europe
- Revenue up by 6%; over first nine months growth in all product groups. Increase in machines and service is mainly driven by key-accounts
- EBIT still impacted by increased costs of materials, logistics and energy. Own price increases become slowly effective. EBIT margin in Q3/22 slightly better than in Q2/22
- Travel and trade fair expenses normalization after corona year
Q3 YTD – North America
- Significant revenue growth in first nine months (38%, FX adjusted 22%); all customer segments contributed with double digit growth. Slower growth in Q3/22 (+24%, FX adjusted 6%)
- Loss mainly due to cost increases and customer mix as well as higher cost for health insurance. Lag between material price rises and own price increases especially for key-account business. EBIT in Q3/22 at break even after negative HY1/22
Q3 YTD – APAC
- Revenue negatively impacted by the lockdowns in China
- EBIT at 0.4m€ and 3% EBIT ratio
Sep 2022 Balance Sheet – increase in NOWC driven by planned increase in inventories to safeguard delivery capability; Equity ratio after dividend payment at 27%
| 2021 | Adjusted Guidance 2022 | |
|---|---|---|
| Revenue | 430.5m€ | 476m – 484m€ |
| Adjusted EBIT | 43.0m€ | 38m – 43m€, EBIT-Ratio 8%-9% |
| FCF after lease payments | 34.5m€ | 10m – 20m€ |
| ROCE | 25.8% | below prior year |
Financial Calendar 2022/2023
| Date | Event |
|---|---|
| November 28 - 30, 2022 |
Equity Forum, Frankfurt |
| March 30, 2023 | Annual Report Financial press conference |
| May 4, 2023 | Q1 Statement |
| May 16, 2023 | Annual General Meeting |
| August 3, 2023 | Half-yearly financial statement |
| November 2, 2023 | Q3 Statement |
Disclaimer
Cautionary note with regard to forward-looking statements: This document contains forward-looking statements and statements of future expectations that reflect management's current views and assumptions with respect to future events. Such statements are subject to known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied and that are beyond WashTec AG's ability to control or estimate precisely. In addition to statements which are forward-looking by reason of context, the words 'may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, potential, or continue' and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those statements due to, without limitation, (i) general economic conditions, (ii) future performance of financial markets, (iii) interest rate levels (iv) currency exchange rates (v) the behaviour of other market participants (vi) general competitive factors (vii) changes in laws and regulations (viii) changes in the policies of central banks, governmental regulators and/or (foreign) governments (ix) the ability to successfully integrate acquired and merged businesses and achieve anticipated synergies (x) reorganization measures, in each case on a local, national, regional and/or global basis. WashTec AG does not assume any obligation and does not intend to update any forward-looking statements to reflect events or circumstances after the date of these materials.
No obligation to update information: Due to rounding, numbers presented throughout this, and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. WashTec AG does not assume any obligation and does not intend to update any information contained herein.
No investment advice: This presentation is for information only and shall not constitute investment advice. It is not intended for solicitation purposes but only for use as general information. All descriptions, examples and calculations contained in this presentation are for illustrative purposes only.
Confidentiality: This document is strictly confidential to the recipient, is being supplied to you solely for your information, may not be distributed to the press or other media (including information vendors and wire services) and may not be reproduced in any form or redistributed or passed on, directly or indirectly, to any other person or published, in whole or in part, for any purpose.