WashTec AG Reports 9.5% EBIT Increase Amid 2.6% Revenue Decline

In fiscal year 2024, WashTec AG reported a 9.5% increase in Earnings Before Interest and Taxes (EBIT) to €45.5 million, despite a 2.6% drop in revenue to €476.9 million. The decline in revenue was attributed primarily to decreased sales of new equipment in North America, though sales rose slightly in Europe and other segments.

The fourth quarter saw revenue rise by 7.4% year-on-year to €142.6 million, driven by strong equipment sales in Europe, leading to a 19.3% EBIT increase, reaching €17.9 million. However, free cash flow decreased to €39.5 million from the previous year’s €46.1 million, due to increased net operating working capital.

The company plans to propose a dividend of €2.40 per share at the 2025 Annual General Meeting. Looking ahead, WashTec expects mid-single-digit revenue growth and a disproportionate EBIT increase in 2025.