WashTec AG Achieves New Revenue Record and Reports Substantial Growth in EBIT and Free Cash Flow for Fiscal Year 2023

WashTec AG, has announced an impressive fiscal year 2023 performance, marked by a new revenue record of €489.5 million, up by 1.5% from the previous year's €482.2 million. The growth is attributed, in part, to exceptional performance in the chemicals business and the acquisition of new customers. Significant achievements include a 10.3% increase in EBIT to €41.9 million and a robust enhancement in the EBIT margin to 8.6%.

The fourth quarter, however, saw a revenue decrease of 7.6% year-on-year, totaling €132.8 million, even as the EBIT margin improved. A notable rise in free cash flow to €46.1 million from last year’s €16.2 million is also highlighted, benefiting from strategic inventory capital reduction measures.

Despite the fiscal challenges, Andreas Pabst, CFO of WashTec AG, reflects on a year well-navigated and the establishment of strategic foundations aimed at achieving double-digit EBIT margins in the coming years through focused customer benefit maximization.

Looking ahead, WashTec AG anticipates maintaining its revenue level in fiscal year 2024, with mid-single-digit percentage EBIT growth and aims for a free cash flow between €30 million and €40 million. However, uncertainties that could impact forecasted revenues and earnings are acknowledged.