EQS-News: WashTec AG: Preliminary figures for 2024

WashTec AG preliminary figures for 2024:
 

• The WashTec Group overachieves the guidance on EBIT and ROCE
• Expected revenue of €477m c. 3% below prior year (€489.5m)
• Expected EBIT of more than €45m stronger than previous year (€41.9m); increase of EBIT margin to around 9.5% (prior year: 8.6%)

Augsburg, February 6, 2025: The WashTec Group announces that, on preliminary figures, it successfully concluded fiscal year 2024. Revenue is anticipated to amount to € 477 million. This represents an expected decrease of around 3% year on year (prior year: €489.5m). The preliminary EBIT of more than €45m increased by around 9% over the prior-year figure of €41.9m and overachieves the guidance of a mid-single-digit percentage growth; the EBIT margin is ca. 9.5% (prior year: 8.6%).

The fourth quarter was the second strongest quarter in the company’s history with a revenue of €142m, (after the record quarter Q4 2022 with €144m). This represents an increase of 7% over the fourth quarter of 2023 (€132.8m). The EBIT of the WashTec Group increased during the fourth quarter to a new top value of €18m, representing a 20% growth compared to Q4 2023.

The ROCE increased by about 2 percentage points to c. 24%, outperforming the 2024 guidance of ±1 percentage point on the previous year’s ROCE of 21.5%.

Free cash flow decreased to €39 million (prior year: €46.1 million). This was particularly due to the high trade receivables at the reporting date as a result of the high quarterly sales at the end of the year compared to the previous year.

The number of employees increased by 83 to 1,770 as of December 31, 2024 (prior year: 1,687). The average number of employees at WashTec during the year was 1,715 (prior year: 1,768).

The Group’s year-end order backlog remained roughly at the prior year’s level.
Group preliminary key figures:
 

€m, IFRS	2023	2024	Change
Revenue	489.5	477	-3%
EBIT	41.9	45	+9%
Free cash flow	46.1	39	-14%
ROCE	21.5%	24%	>+2%points

Publication of the full consolidated financial statements with the final figures for fiscal year 2024, including the guidance for the fiscal year 2025, and the associated conference call are planned for March 26, 2025. The Annual General Meeting 2025 will take place on May 13, 2025.
About WashTec:
The WashTec Group, based in Augsburg, Germany, is the leading provider of innovative solutions for carwash worldwide. WashTec employs around 1,800 people worldwide and has subsidiaries in Europe, North America and Asia/Pacific. WashTec is also represented by independent distributors in around 80 countries.

Contact:

WashTec AG
Investor Relations
Argonstrasse 7
86153 Augsburg

Phone: +49 (0)821 5584-5555
Email: ir@washtec.com