WashTec AG — Investor Presentation 2014

Oct 31, 2014

WASHTEC AG Q3 2014 Report

Conference Call

WashTec AG Q3 2014 Report, Conference Call October 31, 2014

EBIT increase despite slight decline in revenues – continued positive business development in Core Europe

• Revenues decreased by 0,96 %

Q3 2014: Facts & Figures

• EBIT at € 11,8m (adj. by restructuring costs at 12,7m) vs € 8,9m PY
• Net Cash Flow clearly above PY

^{2 2012 2013 2014} WashTec AG Q3 2014 Report, Conference Call October 31, 2014

Solid balance sheet structure

** Net bank debt plus long-term and short-term finance leasing Equity ratio (in %) Net finance debt** (in €m) 50,4 47,6 Dec 2013 Q3/2014 2,9 -0,6 Dec 2013 Q3/2014

• Equity ratio: slight decrease mainly due to lower equity caused by dividend payment
• Net finance debt: decreased due to positive Cashflow

WashTec AG Q3 2014 Report, Conference Call October 31, 2014

3

Q3 2014: Facts & Figures

Q3 2014: Facts & Figures Revenues and earnings development

Revenues total (Q3) in €m

Revenues by segment (Q3) in €m

EBIT total (Q3) in €m

EBIT by segment (Q3) in €m

WashTec AG Q3 2014 Report, Conference Call October 31, 2014

Q3 2014: Facts & Figures Profit/Loss Statement

P+L	Q3 2014	Q3 2013
Revenues	216.2	218.3
Gross margin	132.0 (61.1%)	128.9 (59.0%)
Personnel expenses	(81.4) [37.7%]	(79.2) [36.3%]
Other operating expenses	(34.6) [16.0%]	(36.4) [16.7%]
EBITDA	19.3	16.3
Depreciation	(7.5)	(7.4)
EBIT	11.8 [6.5%]	8.9 [4.1%]
Financial Result	(-0.5)	(-1.0)
EBT	11.2	8.0
Tax Expenses	(3.6)	(2.4)
Net income	7.6	5.6
Earnings per share (in €)	0.55	0.40

Increase due to changed mix of products and regions

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

Decrease due to lower write-downs of receivable, lower foreign currency losses as well as cost cuts in various areas

Adjusted by restructuring costs EBIT at € 12.7m

Rounding differences possible

WashTec AG Q3 2014 Report, Conference Call October 31, 2014

	September 30, 2014	December 31, 2013
Balance sheet total	182.9	174.2
Goodwill	42.3	42.3
Equity	87.0	87.8	Equity ratio at 47.6%
Net finance debt	-0.6	2.9	Decrease due to positive Cashflow
Net current assets	68.5	65.2	Primary reason for increase: higher inventories

	September 30, 2014	September 30, 2013
Net cash flow	17.0	12.3
Cash outflow from investing activities	(3.0)	(4.0)
Free cash flow	14.0	8.3

Increase due to continued positive business development

Rounding differences possible WashTec AG Q3 2014 Report, Conference Call October 31, 2014

Outlook 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: significant reduction in revenues, earnings and EBIT
• North America: slightly declining revenues and earnings and stable EBIT margin
• Asia/Pacific: stable development of revenues, earnings and EBIT margin

Source: Notifications pursuant to WpHG

		Trade Volume (Xetra)
Period

Average

Analyst (+ Date)

Hauck & Aufhäuser

Period	Volume (pcs.)
	2014	2013
Jan.- Sept.	634,500	572,710
SDAX-Ranking	Turnover
September	133	132

Analyst Coverage

BHF (02/13) Overweight 11.70

(08/14) Buy 14.00

HSBC (09/14) Overweight 14.50

MM Warburg (08/14) Buy 15.30

Recommendation

Target Price (€)

13.88

WashTec AG Q3 2014 Report, Conference Call October 31, 2014

4) Nmás1 Asset Management , SGIIC, S.A

October 31, 2014	3Q/14 report
November 24 - 26, 2014	Equity Forum
March, 2015	Annual Report

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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.