DGAP-Adhoc: WashTec AG: WashTec issues a new guidance for the financial year 2020

2020. július 27., hétfő, 15:49





DGAP-Ad-hoc: WashTec AG / Key word(s): Forecast


WashTec AG: WashTec issues a new guidance for the financial year 2020


27-Jul-2020 / 15:49 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




In view of the current developments caused by COVID-19, the Company expects a decline in revenue of 15% to 20% for the financial year 2020 compared to the prior year (2019: Revenue €436.5m). Consequently, the Company assumes a decline in earnings before interest and taxes (EBIT) and is aiming for an EBIT margin of 3% to 5% in 2020 (2019: EBIT million € 36.3, EBIT margin 8.3%). The Company expects an increasing free cash flow for the current year (2019: free cash flow €15.0m).


The management of the WashTec Group is accelerating implementation of the Performance Program launched in prior year and is adapting the company"s structures and processes to the new developments. In the medium term, the goal remains to deliver again a double-digit EBIT margin as a result of the implemented measures.



Contact:

WashTec AG

Corporate Communications

Dr. Ralf Koeppe

Argonstrasse 7

86153 Augsburg


Tel.: +49 (0)821 - 5584 - 2090

Fax: +49 (0)821 - 55 84 - 1135








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Language: English
Company: WashTec AG

Argonstraße 7

86153 Augsburg

Germany
Phone: +49 (0)821 55 84-0
Fax: +49 (0)821 55 84-1135
E-mail: washtec@washtec.de
Internet: www.washtec.de
ISIN: DE0007507501
WKN: 750750
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1102455





 
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1102455  27-Jul-2020 CET/CEST







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