EQS-News: WashTec AG: Strong third quarter with 35.8% EBIT growth – Revenue up 7.2% in the first nine months and disproportionate EBIT growth of 17.4%

• Revenue Q1-Q3: +7.2% to €358.2m (prior year: €334.2m)
• EBIT Q1-Q3: +17.4% to €32.4m (prior year: €27.6m)
• EBIT-margin Q1-Q3: 9.0% (prior year: 8.2%)
• Free cash flow Q1-Q3: +11.2% to €27.8m (prior year: €25.0m)
• Guidance for fiscal year 2025 confirmed

Augsburg, August 5, 2024 – The WashTec Group generated revenue of €358.2m in the first nine months, up 7.2% on the prior year (€334.2m). The positive trend continued in Q3 the Europe and other segment, where revenue increased across all business lines. Revenue in the North America segment was still below the previous year’s level due to lower Equipment sales, despite a positive performance in Service and Consumables.
Revenue in the third quarter amounted to €125.8m, significantly above the previous year’s figure (€114.1m). This was primarily due to the positive business development in the Europe and other segment, which saw revenue growth of 11.1%. In the North America segment, revenue increased by 3.6% (currency-adjusted: 9.5%).

EBIT increased disproportionately in the first nine months by 17.4% to €32.4m (prior year: €27.6m). The EBIT margin improved after the first nine months to 9.0% (prior year: 8.2%). The increase in EBIT is due to the performance in the Europe and other segment, while EBIT in the North America segment was still significantly down on the prior year. In the third quarter, WashTec achieved again a disproportionately high 35.8% increase in EBIT to €14.8m (prior year: €10.9m). Both the Europe and other segment and the North America segment contributed to this with double-digit growth rates in the third quarter. The EBIT margin increased to 11.8% (prior year: 9.6%), exceeding both the prior-year quarter and the second quarter of 2025.

At €27.8m, the WashTec Group’s free cash flow for the first nine months was above the prior year (€25.0m), mainly due to further optimization of operating working capital. The higher net income also contributed to this improvement.

Orders received for equipment were significantly higher in the first nine months than in the same period of the prior year. The order backlog at the end of September was above last year´s level in the Europe and other segment, while the North America segment remained at the prior year’s level in EUR (above the prior year in USD).

WashTec confirms its guidance for fiscal year 2025. WashTec now expects revenue and earnings growth in the Europe and other segment to be comparatively stronger and in the North America segment to be comparatively weaker in local currency.

“The first nine months were successful for WashTec. Many of the initiatives we launched are beginning to show results. Our strategic positioning as a solution provider is being well received by our customers. We are therefore confident about achieving our short- and medium-term goals. WashTec is on a good path.” said Michael Drolshagen, CEO of WashTec AG.

The full report on the first half year of 2025 and further information about the WashTec Group can be found on our Investor Relations Website.

About WashTec:
The WashTec Group, based in Augsburg, Germany, is the leading provider of innovative carwash solutions. WashTec employs around 1,800 people worldwide and has subsidiaries in the markets of Europe, North America and Asia/Pacific. WashTec is also represented by independent distributors in around 80 countries.

Key figures:
 

€m, IFRS	Q1-Q3 2025	Q1-Q3 2024	Change in %
Revenue	358.2	334.2	7.2
EBIT	32.4	27.6	17.4
EBIT margin in %	9.0	8.2	-
Net income	21.1	17.4	21.3
Earnings per share1 (€)	1.57	1.30	21.3
Free cash flow	27.8	25.0	11.2

 

€m, IFRS	30.09.25	31.12.24	Change abs.
Balance sheet total	288.6	279.7	8.9
Equity	73.6	88.5	-14.9
Equity ratio (%)	25.5	31.7	-620 bps
Net operating working capital2	90.0	94.0	-4.0

bp: basis point (1/100th of a percentage point)
¹ Basis: average of 13,382,324 shares; basic = diluted
² Trade receivables + inventories - trade payables - prepayments on orders
Contact:
WashTec AG
Argonstrasse 7
86153 Augsburg

Tel.: +49 (0)821 - 5584 - 0