WashTec AG: Significant EBIT increase of 9.5% despite slight decline in revenue of 2.6%

EQS-News: WashTec AG / Key word(s): Annual Report WashTec AG: Significant EBIT increase of 9.5% despite slight decline in revenue of 2.6% 26.03.2025 / 07:00 CET/CEST The issuer is solely responsible for the content of this announcement.

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WashTec AG: Significant EBIT increase of 9.5% despite slight decline in revenue of 2.6%

• Revenue €476.9m | prior year €489.5m
• EBIT €45.5m | prior year €41.9m; EBIT margin 9.5% | prior year 8.6%
• Free cash flow €39.5m | prior year €46.1m
• Dividend proposal: €2.40 | prior year €2.20

Augsburg, March 26, 2025 – The WashTec Group generated a revenue of €476.9m in fiscal year 2024, down 2.6% on the prior year (€489.5m). This was mainly the result of lower sales of new equipment, particularly to key accounts in North America, whereas revenue increased slightly in the Europe and other segment.

Due to the improved gross profit, EBIT, at €45.5m, was higher than in the prior year (€41.9m) despite the lower revenue. The EBIT margin improved to 9.5% (prior year: 8.6%).

During the fourth quarter, revenue rose by 7.4% year on year to €142.6m – the second-highest quarterly revenue figure in the Company’s history. The increase is mainly due to significantly higher sales of equipment to key accounts in the Europe and other segment. EBIT increased during the fourth quarter significantly by €2.9m or 19.3% to €17.9m (prior year: €15.0m) – the highest quarterly figure to date.

Free cash flow, at €39.5m, was lower than the prior year (€46.1m) due to the strong business performance in the fourth quarter and a resulting increase in net operating working capital relative to December 2023.

Equity amounted to €88.5m, compared to €85.8m at the prior-year reporting date. At 31.7%, the equity ratio was on a similar level to the prior year (31.6%).

“During fiscal year 2024, we were able to significantly increase our operating profit (EBIT) in a challenging market environment with slightly lower revenue. We were able to make significant further gains in the last quarter in particular. This is due to an outstanding team performance. We have also taken important steps for the future. Among other things, we have introduced a new organizational structure and initiated various programs to reduce complexity and costs, the full effect of which will only be realized in the coming years” said Michael Drolshagen, CEO of WashTec AG.