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WashTec AG Investor Presentation 2026
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Conference Call on the Results of FY 2025
Michael Drolshagen (CEO & CTO)
Andreas Pabst (CFO)
March 26th, 2026
WashTec
- Update on WashTec
Michael Drolshagen (CEO & CTO)
WashTec
Highlights 2025
Q
WashTec
Hinweis:
1) Free Cashflow Quote definiert als Free Cashflow im Verhältnis zum Umsatz.
3 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
Market environment
WashTec
Macroeconomic Conditions
- Eurozone: Thanks to robust consumer and investment demand, the EMU is expected to continue its positive trend in 2026
- U.S./Germany: However, assuming only a short-term rise in oil prices and a moderate increase in inflation over the coming months, the impact on the economy is expected to be minimal
Growth rates of major economic regions
WashTec: Order intake and outlook for 2026 remain positive
Source: Macrobond, Oxford Economics, DZ Bank
4 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
Market environment
WashTec
Macroeconomic Conditions
> Europe: The short-term price increases in the energy markets resulting from the war in Iran have only a minor impact on inflation trends in the eurozone
> Global: Developments in Germany and globally depend crucially on the duration of the war in Iran and the level of crude oil and natural gas prices
Hohe Ölpreise könnten deutsche Wirtschaft deutlich belasten
Geschätzte Abweichungen von Verbraucherpreisen und BIP für Deutschland ggü. Basiszenario* (in %)
- Basiszenario unterstellt einen Ölpreis von 60 US-Dollar pro Barrel der Sorte Brent für die Jahre 2026 und 2027
Quelle: IW Köln
statista
WashTec: Order intake and outlook for 2026 remain positive
5 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
Potential risks from the Middle East conflict
WashTec
- Revenue in the Gulf region
→ Only modest revenue in the affected countries in 2025 - Impact on Equipment revenue worldwide
→ Uncertainty generally leads to reluctance to invest - Impact on consumer behavior > Chemicals & Service revenue
Historical data shows that high fuel prices lead only to a temporary adjustment in driving habits. Usually lasting just a few weeks.
→ We do not expect any significant impact on washing behavior and thus also not on chemicals and service revenue - Supply chains and material prices
We are closely monitoring the situation. Higher gas & fuel prices have a direct impact on costs for the own vehicle fleet and locations
→ Limited impact so far (e.g., price for chemicals canisters), but depending on the duration of the conflict
6 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
Where are our efficiency programs effective
Q
WashTec
Note: 1) more details ref. CMW I page 39
- WashTec IP | November 2025 | Capital Markets Webcast 2
WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
WashTec
Significant investments planned in 2026 for WashTec, particularly at the Augsburg and Nýřany sites
- Planned investments at record levels
- Main drivers of these investments are:
- Development of the Augsburg site for final assembly and expansion of prefabrication at the Czech site
- Implementation of the HUB concept to improve efficiency in the installation process
- Training and development center for apprentices and service staff
Cash outflow from investing activities
- Extraordinary effects from investing activities
- Investments excluding extraordinary effects
- Planned investments
Hinweise:
1) In 2023, the manufacturing site of the U.S. subsidiary Mark VII was acquired for $10.3 million.
2) In 2024, a total of €2.1 million was invested in the acquisition of the New Zealand subsidiary and the purchase of shares in the distribution partner Mayco-WashTec in Poland.
8 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
WashTec
Optimization of the manufacturing in Augsburg and the Czech Republic
Relocation of jobs
Approximately 40% of the 84 FTEs have already been relocated to the Czech Republic. The remaining jobs will be relocated by the end of 2026
New facility in the Czech Republic
Rental of a new facility in the Czech Republic with 7,000 m² of logistics space and 5,500 m² of assembly space. Relocation to be completed by October 2026
Optimization of manufacturing in Augsburg
Optimization of the logistics and assembly layout in Augsburg. Start in September 2026. Completion in mid-2027
New manufacturing hall in Nýřany, Czech Republic
New assembly layout in Augsburg
9 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
Product launch of SmartCare Connect in May 2025
C
WashTec
Development of Roll-Over order intake in 2025
- Order intake - Softcare
- Order intake - SmartCare
Development of Roll-Over revenue in 2025
- Revenue - Softcare
- Revenue - SmartCare
10 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
O
WashTec
Further product launches in 2025
Equipment
> Launch of linear wheel washer for tunnels in July 2025 (North America in 2026)
Consumables
> Launch of high-end polish MagicCare®
Digital Solutions
> Roll-out of Easy Carwash Pro/4U
> Roll-out of CarWash Assist
11 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
JetWash – market launch in the first half of 2026
WashTec
New Jet Wash Equipment
> Car care becomes an experience in WashTec's new JetWash self-service car wash
Wash & Pay Solution for Jet Wash
> New flexible washing concept
Magic Care for Jet Wash
> MagicCare® – high-end Polish – now also available for self-service car washes
12 | WashTec RQ | Cerefotorc 2025 | CarWashMarket 2025 | M&ch 2026 | Investor Relations
2 Fiscal year 2025 Results
Andreas Pabst (CFO)
WashTec
WashTec
Continuous development and improvement in the field of sustainability
In fiscal year 2025, the consolidated sustainability statement was once again prepared in accordance with ESRS and audited by KPMG.
The completion of a double materiality assessment led to the following key topics:
E1 Climate change
S1 Own workforce
E2 Pollution (water)
S2 Workers in the value chain
E3 Water resources
G1 Business conduct
E5 Resource use and circular economy
Development of CO₂ emissions
Top level management by gender
CO2 emissions Scope 1+2 (kt)
CO2e per € million revenue
CO2e per 1k hours worked
- The proportion of women in top level management positions at the end of the year was at 19% (prior year: 17%)
- By way of comparison, the proportion of women in the total workforce is 18%
- Female
- Male
1 Target percentage of female top level managers: 18% (by June 2027)
WashTec water recycling ratio
WashTec water recycling ratio is calculated from the proportion of WashTec water recycling systems installed worldwide in relation to all WashTec vehicle washes installed worldwide
14 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
New record revenue of €498.6m in 2025
with further increase in EBIT margin to 9.8%
W
WashTec
> Revenue up on prior year
WashTec generated record revenue of €498.6m in fiscal year 2025, up 4.6% on the prior year (€476.9m). At constant exchange rates, revenue rose by €26.8m to €503.7m (prior year: €476.9m) and would thus exceed €500m for the first time.
> EBIT above prior year
EBIT increased disproportionately by 7.5% in fiscal year 2025 to €48.9m (PY: €45.5m). The EBIT margin was higher than in the prior year, at 9.8% (PY: 9.5%). The increase in EBIT is attributable to the performance of the Europe and other segment.
> Free cash flow slightly above prior year
At €41.9m, the free cash flow was up slightly by 6.1% on the prior year (€39.5m). It should be noted that the prior year included a one-off effect from the reimbursement of investment income tax in the amount of €10.6m. Adjusted for this item, the increase was 45.0%.
Revenue, EBIT and free cash flow
Note: 1) Free cash flow ratio defined as free cash flow to total revenue.
15 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
Fourth-quarter revenue slightly down on exceptionally strong prior-year quarter; EBIT margin at 11.8%
WashTec
Fourth-quarter revenue slightly down on prior year
WashTec generated revenue of €140.4m in the fourth quarter, a slight 1.5% down on the prior-year quarter, which was the second strongest in the Company's history (€142.6m). While the Europe and other segment performed positively with growth of 1.8%, the North America segment continued to be affected in the fourth quarter by lower unit sales of equipment.
Fourth-quarter EBIT and EBIT margin down on prior year
EBIT fell to €16.5m in the fourth quarter (prior year: €17.9m), partly due to revenue.
The EBIT margin, at 11.8% (prior year: 12.6%), was lower than in the prior-year quarter.
Q4 Revenue and EBIT
16 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
Revenue by business lines
Strong revenue growth in all business lines – recurring revenue now at 45.1%
O
> Equipment
At €268.0m, revenue in the Equipment business line was €6.6m higher than in the prior year. The exceptionally good performance in the Europe and other segment, with higher unit sales for both key accounts and direct business, counteracted the downward trend in the North America segment.
> Service
Revenue in the Service business line increased significantly by €10.5m to €155.1m. This was notably due to process optimization, improved digital integration and increased capacity in this business line.
> Consumables
Consumables revenue, at €69.6m, was 7.6% higher than in the prior year. This was supported in particular by the intensification of sales activities and the favorable carwash weather at the beginning of the fiscal year.
| FY 2024 | FY 2025 | Change | Q4 2024 | Q4 2025 | Change | ||||
|---|---|---|---|---|---|---|---|---|---|
| absolute | in % | absolute | in % | ||||||
| Equipment | €m | 261.4 | 268.0 | 6.6 | 2.5 | 88.3 | 84.5 | -3.8 | -4.3 |
| Service | €m | 144.6 | 155.1 | 10.5 | 7.3 | 36.4 | 38.8 | 2.4 | 6.6 |
| Consumables | €m | 64.7 | 69.6 | 4.9 | 7.6 | 16.3 | 15.9 | -0.4 | -2.5 |
| Other | €m | 6.2 | 5.9 | -0.3 | -4.8 | 1.6 | 1.2 | -0.4 | -25.0 |
17 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
Revenue and earnings by segments Europe and other with 7.8% revenue growth and 10.5% higher EBIT
WashTec
> Europe and other
Revenue rose across all business lines by 7.8% to €425.5m (prior year: €394.7m).
At €46.2m, EBIT was significantly higher than in the prior year (€41.8m). Segment earnings include additional expenses for implementation of the corporate strategy refinement and for ongoing IT projects.
> North America
Revenue fell by 11.4% to €75.5m. In US dollars, revenue fell by 7.1% only. This is primarily due to lower unit sales of equipment. Performance in this segment was influenced by protracted contract negotiations with key accounts, delays in connection with newly opened sites due to prolonged construction work, and the economic environment in North America.
Due to the lower revenue, EBIT in the North America segment, was €1.0m lower than in the prior year.
| FY 2024 | FY 2025 | Change | Q4 2024 | Q4 2025 | Change | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| absolute | in % | absolute | in % | |||||||
| Europe and other | Revenue | €m | 394.7 | 425.5 | 30.8 | 7.8 | 114.8 | 116.9 | 2.1 | 1.8 |
| EBIT | €m | 41.8 | 46.2 | 4.4 | 10.5 | 15.5 | 13.7 | -1.8 | -11.6 | |
| EBIT margin | % | 10.6 | 10.9 | 30 bps | - | 13.5 | 11.7 | -180 bps | - | |
| North America | Revenue | €m | 85.2 | 75.5 | -9.7 | -11.4 | 28.7 | 24.1 | -4.6 | -16.0 |
| EBIT | €m | 3.7 | 2.7 | -1.0 | -27.0 | 2.5 | 2.8 | 0.3 | 12.0 | |
| EBIT margin | % | 4.3 | 3.6 | -70 bps | - | 8.7 | 11.6 | 290 bps | - |
North America 15.1% (PY: 17.8%)
Revenue share FY 2025
North America 17.1% (PY: 20.0%)
Revenue share Q4 2025
18 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
Earnings development: EBIT bridge
WashTec
> Impact of revenue increase
Revenue in 2025 increased by €21.7m, resulting in €6.7m additional gross profit at a constant gross profit margin.
> Selling expenses
Selling expenses increased by €5.2m,. This is the result of higher outbound freight linked to the revenue growth and of the expansion of the sales organization for implementation of the corporate strategy refinement and for the launch of new products.
> Administrative expenses
The increase is mainly due to higher IT expenses for ongoing projects, such as IT expenses related to the planned S4/HANA implementation and new software for service optimization, and expenses accounted for in this item for employee participation in the Company's performance.
19 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
Net income, Net financial debt, NOWC and net cash outflow from investing activities
WASHTEC
Net income & earnings per share¹⁾
(in €m, € per share)
Due to an increase of corporate taxes by €4.5m, net income deteriorated slightly by €0.3m, even though EBIT increased.
Net financial debt & Leverage
(in €m)
Net financial debt increased mostly due to higher interest-bearing loans and lower cash and cash equivalents. Financial Leverage remained stable at 0.8x EBITDA.
Net operating working capital (NOWC)
(in €m)
NOWC was on a par with the prior year. The large order backlog led to an increase in inventories and consequently, to higher trade payables.
Net cash outflow from investing act.
(in €m)
Previous years cash outflow included the payments for the acquisitions of subsidiaries (€2.1m).
Note: 1) Due to the Share Buyback Program 2025, the weighted average number of shares changed slightly from 13,382,324 in 2025 to 13,379,578 in 2025.
20 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
Equity ratio, fixed asset ratio and employees at reporting date
O
WashTec
The equity ratio declined due to higher dividend payments, negative effects from currency translation of equity, and the share buyback program.
The fixed asset ratio remained largely stable.
Note: 1) Fixed asset ratio = (property plant & equipment + intangible assets) / total assets
Increase of employees mainly in Service and Sales areas.
21 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
ROCE
WashTec
- ROCE rose by 1.2 percentage points to 24.8% (prior year: 23.6%)
- The guidance of an increase in ROCE by 0.5–2.5 percentage points was achieved
- The denominator, capital employed, increased by €4.1m or 2.1% year on year. The increase is due to higher non-current assets. At the same time, Group EBIT improved by €3.4m or 7.5%.
in %
Return on Capital Employed (ROCE)
| 2021 | 2022 | 2023 | 2024 | 2025 | ||
|---|---|---|---|---|---|---|
| EBIT | €m | 45.7 | 38.0 | 41.9 | 45.5 | 48.9 |
| ÷ Capital Employed¹⁾ | €m | 177.0 | 188.3 | 194.5 | 193.1 | 197.2 |
| = ROCE | % | 25.8 | 20.2 | 21.5 | 23.6 | 24.8 |
Hinweis: 1) Capital Employed Non-current assets including goodwill and right-of-use assets + NOWC, calculated as the average over five quarters.
41 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
Dividend proposal
WashTec
Attractive dividend policy
WashTec pursues an attractive dividend policy with a high payout ratio
Dividend proposal
The Management Board and Supervisory Board will recommend to the Annual General Meeting, scheduled for May 12, 2026, that a dividend of €2.50 per dividend-entitled share be paid from the retained earnings of €38,139,702.55 reported in WashTec AG’s annual financial statements for the 2025 fiscal year. The remaining retained earnings are to be carried forward to new account.
Total dividend for the respective fiscal year)
| (in €m) | 38.8 | 38.2 | |||||
|---|---|---|---|---|---|---|---|
| Special dividend 10.7^{2)} | 29.4 | 29.4 | 32.1 | SBB: 4.8^{3)} | |||
| 28,1^{2)} | 33,2^{4),5)} | ||||||
| Dividend per share | (€) | 2,90^{2)} | 2,20 | 2,20 | 2,40 | 2,50^{4)} | |
| Earnings per share | (€) | 2,32 | 1,97 | 2,09 | 2,32 | 2,29 | |
| FCF per shares | (€) | 3,16 | 1,21 | 3,45 | 2,95 | 3,16 | |
| Dividend yield^{6)} | (%) | 5,3 | 6,4 | 6,9 | 5,9 | 5,3 | |
| Shares outstanding (m shares) | 13,4 | 13,4 | 13,4 | 13,4 | 13,3 | ||
| Notes: | 2021 | 2022 | 2023 | 2024 | 2025 |
1) Dividends for the respective fiscal year – payment in the following year.
2) 2021: Dividend of €2.10 per share and a special dividend of €0.80 per share.
3) Total volume of the Share Buyback Program 2025 between November 6th, 2025 and March 13th, 2026.
4) Dividend proposal for the Annual General Meeting 2026.
5) Calculated based on the outstanding shares at the moment of the annual general meeting 2026 (after the buyback program).
6) Dividend yield calculated as dividend per share (without share buyback program) in relation to the XETRA closing price of the respective fiscal year.
43 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
Share Buyback Program 2025
WashTec
- WashTec approved a share buyback program on October 23rd, 2025
- The Share Buyback Program was finished almost two months ahead of the planned end date after reaching the maximum number of 100,000 shares on March 13th 2026
Main components of Share Buyback Program 2025
| Start Date:
November 6th, 2025 | End Date:
May 4th, 2026 | Maximum # of shares:
100,000 shares | Maximum Volume:
€5.0m |
| --- | --- | --- | --- |
Result of Share Buyback Program 2025
| Start Date:
November 6th, 2025 | End Date:
March 13th, 2026 | # of shares bought:
100,000 shares | Total Volume :
€4.8m |
| --- | --- | --- | --- |
24 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
Development of order backlog
Order backlog indicates strong future business
WashTec
- Equipment orders received were up on the prior year, increasing both with key accounts and with direct customers
- Equipment order backlog at the end of the year was up 9% on the prior year, underscoring the continued stable
- Since the fourth quarter is usually, the strongest for WashTec in terms of sales, the order backlog decreased by 9% compared to September 2025
- Over the last 5 years, WashTec shows a stable or slightly growing order backlog level.
25 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
Guidance 2026*
(2)
WashTec
| 2025 | Guidance 2026 | |
|---|---|---|
| Revenue | €498.6m | Mid single-digit percentage increase |
| EBIT | €48.9m | Disproportionate increase in excess of revenue growth |
| Free Cash Flow | €41.9m | €35m – €45m |
| ROCE | 24.8% | Continuous increase, by 0.5–2.0 percentage points |
| Accident rate | ||
| (accidents / million hours worked ) | 8.4 | |
| (2024: 6.4) | Below the (low) level of fiscal year 2024 |
- The business performance for 2026 is difficult to predict due to the challenging geopolitical situation—particularly developments in the Middle East and the resulting potential increases in raw material and energy prices—as well as trade policy uncertainties.
26 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
Financial Calendar 2026
WashTec
| Date | Event |
|---|---|
| May 5th, 2026 | ■ Release of Q1 Report 2026 |
| ■ Analyst Webcast | |
| May 12th, 2026 | ■ Annual General Meeting |
| August 4th, 2026 | ■ Release of half-year report 2026 |
| ■ Analyst Webcast | |
| November 3rd, 2026 | ■ Release of Q3 Report 2026 |
| ■ Analyst Webcast |
48 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations
Q&A
WashTec
CLEAN CARS
WashTec
CLEAN CARS®
Disclaimer
WashTec
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.
30 | WashTec AG | Conference Call on Results of FY 2025 | March 2026 | Investor Relations