WashTec AG: Preliminary figures first half year 2019 and adjustment of guidance for the full year 2019
July 05, 2019 at 06:10 pm
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DGAP-Ad-hoc: WashTec AG / Key word(s): Half Year Results/Change in Forecast
WashTec AG: Preliminary figures first half year 2019 and adjustment of guidance for the full year 2019
05-Jul-2019 / 19:03 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Augsburg, July 05, 2019: On the basis of preliminary figures, WashTec has concluded the first half year 2019 with revenues of Mio. EUR 199.1 (prior year: Mio. EUR 200.1). Preliminary Earnings before Interest and Tax (EBIT) were at Mio. EUR 9.2 (prior year: Mio. EUR 18.3) as of June 30th, 2019. In the second quarter, key account revenues were below prior year while revenues in direct sales continued to be on a double-digit level above prior year.
This is reflected in the order backlog as of June 30th, 2019, which was slightly below prior year's level. The company does no longer expect that key account business for the full year will increase compared to 2018.
The company therefore adjusts its guidance for the full year 2019 and now aims at a stable development in revenues with an EBIT return of at least 10 %.
In the remainder of 2019, significant cost-cutting measures will start.
05-Jul-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
WashTec AG
Argonstraße 7
86153 Augsburg
Germany
Phone:
+49 (0)821 55 84-0
Fax:
+49 (0)821 55 84-1135
E-mail:
washtec@washtec.de
Internet:
www.washtec.de
ISIN:
DE0007507501
WKN:
750750
Indices:
SDAX
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
WashTec AG is a Germany-based company engaged in the provision of vehicle washing solutions. The Company and its subsidiaries focus on developing, manufacturing, selling, and servicing car wash products. The Company operates through three geographical segments: Core Europe, North America, and Asia/Pacific. Its line of business includes roll-over wash equipment, self-service wash equipment, commercial car wash equipment, wash tunnels, water reclaim systems and the spare parts are among others. It also provides repair and maintenance services, including full service and call-out services, markets related products, such as detergents and care products, and provides sales financing services. The Company distributes its products in around 70 countries. WashTec AG is the parent company of the WashTech Group.