BRIEF

on WashTec AG (isin : DE0007507501)

WashTec AG Reports Increased EBIT Amid Declining Revenue

Stock price chart of WashTec AG (EBR:WSU) showing fluctuations.

WashTec AG experienced a decline in revenue to €334.2 million in the first nine months of 2024, compared to €356.7 million the previous year. The third-quarter revenue also saw a decrease, reaching €114.1 million from €120.4 million. Despite this, Group EBIT rose slightly to €27.6 million, improving the EBIT margin to 8.2% from 7.5%.

The free cash flow decreased to €25.0 million, largely due to increased net operating working capital. However, the company reported an increase in orders received, resulting in an order backlog exceeding last year's level in both Europe and North America.

WashTec confirmed its fiscal year 2024 guidance, expecting revenue levels similar to the previous year and a mid-single-digit percentage increase in EBIT. The company introduced its AUWA Magic Care polish, with market launch planned for January 2025.

R. E.

Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.

Click here to consult the press release on which this article is based

See all WashTec AG news