WashTec AG: Preliminary figures for 2023

WashTec AG preliminary figures for 2023:

• Expected revenue of €490m higher than prior year (€482m)
• Expected EBIT of €42m significantly higher than prior year (€38m); EBIT margin: 9% (prior year: 8%)

Augsburg, February 8, 2024: The WashTec Group has announced that, on preliminary figures, it successfully concluded fiscal year 2023 with an expected new revenue record of €490m. This represents an increase of 2% year on year (prior year: €482m). The expected EBIT of €42m is significantly higher than the prior-year figure of €38m; the EBIT margin is 9% (prior year: 8%).

Fourth-quarter revenue amounted to €133m. It was thus not possible to repeat the prior year’s quarterly revenue record (€144m). Despite the lower revenue, EBIT of €15m was generated, as in the prior year.

Overall, despite the uncertain economic environment, the WashTec Group was therefore able to achieve its revenue and EBIT guidance for fiscal year 2023.

The number of employees fell by 137 to 1,687 as of December 31, 2023 (prior year: 1,824). The average number of employees at WashTec during the year was 1,768 (prior year: 1,806).

With improved earnings, free cash flow increased to €46 million (prior year: €16 million), mainly due to the significant reduction in inventories and trade receivables.

The Group’s year-end order backlog remained at a high level that was down on the prior year but significantly above the overall long-term average.


Group preliminary key figures:
 

€m, IFRS	2023	2022	Change in %
Revenue	490	482	2%
EBIT	42	38	11%
Free cash flow	46	16	188%

Publication of the full consolidated financial statements with the final figures for fiscal year 2023, including the guidance for the current fiscal year, and the associated conference call are planned for March 27, 2024. The Annual General Meeting 2024 takes place on May 14, 2024.


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. In addition, WashTec is on the map in some 80 countries through independent dealers.

Contact:

WashTec AG
Investor Relations
Argonstrasse 7
86153 Augsburg
Phone: +49 (0)821 5584-5555
Email: ir@washtec.com