on WashTec AG (isin : DE0007507501)
WashTec AG Reports Increased EBIT Amid Declining Revenue
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.
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