WashTec AG
WSU
ISIN DE0007507501 / Valor 725872
WashTec AG
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About company
WashTec AG is a global leader in providing innovative solutions for vehicle washing, catering to a wide range of needs within the car wash industry. The company offers an extensive portfolio of products and services, including gantry car washes, conveyor tunnel car washes, self-service car washes, and commercial vehicle wash systems, alongside water recycling technologies and digital solutions aimed at enhancing the future of vehicle washing. WashTec stands out for its comprehensive support to clients, covering the entire lifecycle of car wash operations from initial planning, competition and site analysis, to the launch and beyond. This includes offering chemical supplies, regular maintenance, wash bay cleaning, cosmetic face-lifting, and repair services. Furthermore, WashTec assists its customers with financing, leasing, and marketing support, ensuring a holistic approach to business development in the car wash sector. The company prides itself on tailoring its products, processes, and solutions to meet the specific needs of its customers, aiming to maximize customer benefit and revolutionize the car wash experience.
Summarized from source with an LLMView SourceSector: IndustrialsLatest Results (06.08.2024):
Revenue Down on Prior Year
WashTec AG generated revenue of €220.2 million in the first six months of the year, which is a 6.8% decrease compared to the prior year's revenue of €236.2 million. This decline reflects challenges in the market and operational adjustments.
EBIT Up 7.8%
Despite the lower revenue, WashTec AG's EBIT increased by 7.8% to €16.6 million in the first half of the year, up from €15.4 million in the previous year. The EBIT margin also improved to 7.6%, compared to 6.5% in the prior year, indicating better operational efficiency.
Significant Improvement in Free Cash Flow
WashTec AG saw a significant improvement in free cash flow, which rose to €20.1 million in the first half of the year, compared to €6.5 million in the prior year. This increase was primarily due to lower capital expenditure and a refund of capital gains tax prepayments.
Guidance for Full Year 2024
WashTec AG has provided guidance for the full year 2024, expecting revenue to be at a similar level to the prior year, with a possible variation of ±3%. The company also anticipates a mid-single-digit percentage range in EBIT, reflecting cautious optimism for the upcoming year.
EBIT Margin Improvement
WashTec AG's EBIT margin improved to 7.6% in the first half of the year, up from 6.5% in the prior year. This improvement highlights the company's efforts in enhancing operational efficiency and cost management despite facing revenue challenges.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
575 M
Market cap (USD)
9,688
Daily traded volume (Shares)
39.5 / 38.1
1 day high/low (USD)
52 weeks high/low (USD)
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EPS (USD)
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Ratings & reviews
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