DGAP-Adhoc: WashTec AG: WashTec issues a new guidance for the financial year 2020
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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
27-Jul-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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| Language: |
English |
| Company: |
WashTec AG |
|
Argonstraße 7 |
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86153 Augsburg |
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Germany |
| Phone: |
+49 (0)821 55 84-0 |
| Fax: |
+49 (0)821 55 84-1135 |
| E-mail: |
[email protected] |
| 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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| End of Announcement |
DGAP News Service |
1102455 27-Jul-2020 CET/CEST
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WashTec AG DE0007507501