AI assistant
WashTec AG — Investor Presentation 2015
Oct 30, 2015
483_ip_2015-10-30_6f45a2b6-bff2-4b2d-b47f-f53f9880dbff.pdf
Investor Presentation
Open in viewerOpens in your device viewer
WASHTEC AG Q1-Q3 2015 Report
Conference Call
WashTec AG Q1-Q3 2015 Report, Conference Call October 30, 2015 .
Q1-Q3 2015: Facts & Figures Growth of 14,8 % in Q1-Q3 driven by machine and service segment
Order backlog still above prior year Net Cash Flow includes €5m tax payment because of dividend
WashTec AG Q1-Q3 2015 Report, Conference Call October 30, 2015
Q1-Q3 2015: Facts & Figures Revenues and earnings improved in all segments
EBIT total (Q1-Q3)
+11.5
in €m
11.8
Revenues by segment (Q1-Q3) in €m
EBIT by segment (Q1-Q3) in €m
WashTec AG Q1-Q3 2015 Report,
Conference Call October 30, 2015 3
Higher revenues combined with moderate cost increase lead to further improved EBIT and EPS
| Q1-Q3 2015 | Q1-Q3 2014 | |
|---|---|---|
| Revenues | 245.8 | 216.2 |
| Gross margin | 148.2 (60.3%) | 132.0 (61.1%) |
| Personnel expenses |
83.6 [34.0%] | (81.4) [37.7%] |
| Other operating expenses |
37.7 [15.3%] | (34.6) [16.0%] |
| EBITDA | 30.5 | 19.3 |
| Depreciation | 7.2 | (7.5) |
| EBIT | 23.3 [9.5%] | 11.8 [5.5%] |
| Financial Result | (-0.4) | (-0.5) |
| EBT | 22.9 | 11.2 |
| Tax Expenses | (7.5) | (3.6) |
| Net income | 15.5 | 7.6 |
| Earnings per share (in €) |
1.11 | 0.55 |
Rounding differences possible
WashTec AG Q1-Q3 2015 Report, Conference Call October 30, 2015 4
Still solid balance sheet structure despite share buy back program and high dividend payment
| Sept 30, 2015 | Dec 31, 2014 |
|
|---|---|---|
| Balance sheet total |
191.5 | 185.8 |
| Goodwill | 42.3 | 42.3 |
| Equity | 70.9 | 90.9 |
| Net finance debt |
13.7 | -9.8 |
| Net current assets/ working capital |
78.1 | 71.2 |
| Q1-Q3 2015 | Q1-Q3 2014 | |
|---|---|---|
| Net cash flow | 17.6 | 17.0 |
| Cash outflow investments |
(3.6) | (3.0) |
| Free cash flow | 14.0 | 14.0 |
Rounding differences possible WashTec AG Q1-Q3 2015 Report, Conference Call October 30, 2015 5
Positive outlook 2015 and Q1 2016 confirmed Q1-Q3 2015: Facts & Figures
| WashTec Group: |
significant increase in revenues and earnings - ytd growth rate not applicable for Q4 2015 - for full year 2015 revenues increase of app. 10% (adjusted for currency effects >7%) - ytd EBIT ratio of 9.5% confirmed for fy 2015 - share buy back program successful - many additional initiatives in sales and service launched - 60-80% dividend payment planned |
|---|---|
| • Core Europe: |
significant increase in revenues and earnings (forecast improved compared to annual report 2014) |
| • Eastern Europe: |
- significant increase in revenues and earnings - segment integrated in Export activities |
| • North America: |
- significant increase in revenues and earnings - improved profitability in Q4 2015 expected |
| • Asia/Pacific: |
significant increase in revenues and earnings |
Q1-Q3 2015: Facts & Figures
WashTec share already 9% higher than price of share buy back program
| Analyst Coverage | ||
|---|---|---|
| Analyst (+ Date) |
Recommen dation |
Target Price (€) |
| Hauck & Aufhäuser (08/15) |
Buy | 28.00 |
| HSBC (08/15) | Buy | 25.00 |
| MM Warburg (10/15) | Buy | 26.20 |
| Trade Volume (Xetra) | ||
|---|---|---|
| Period | Volume (pcs.) | |
| 2015 | 2014 | |
| Jan.- Sept. |
2,228,922 | 634,500 |
| SDAX-Ranking | Turnover | |
| Sept. | 116 | 133 |
WashTec AG Q1-Q3 2015 Report, Conference Call October 30, 2015 7
4) Nmás1 Asset Management , SGIIC, S.A
- Easy to understand business model
- Only stock listed carwash provider
-
2* bigger than next competitor
- Largest installed machine base
- High share of recurring revenues
- Solid balance sheet structures
- Attractive dividend policy
- Further growth potential
… and therefore we are convinced to be an attractive investment
| Backup | Financial calendar | |
|---|---|---|
| October 30, 2015 |
Q1-Q3/15 Report | |
| November 4, 2015 | Roadshow Frankfurt | |
| November 23 -25, 2015 | Equity Forum | |
| March 31, 2016 | Annual Report | |
| May 11, 2016 | Annual General Meeting | |
No offer:
This document does not constitute or form part of an offer for sale or subscription or an invitation or solicitation of an offer to subscribe for or purchase any securities and neither this document nor anything contained herein shall form the basis of any contract or commitment whatsoever. neither this document nor any copy of it may be taken or transmitted into the united states or provided or transmitted to any U.S. person (within the meaning of regulations under the U.S. securities act of 1933, as amended).
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.
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.