WashTec AG · XETR:WSU
WashTec — Q1 2016 Earnings Presentation
10 slides from WashTec's earnings presentation, Apr 29, 2016
Slide 1: Conference Call WashTec AG, Q1 2016 Report
Conference Call WashTec AG, Q1 2016 Report
Slide 2: Slightly higher revenues and lower EBIT than in Q1 2015
Slightly higher revenues and - as expected - lower EBIT than in Q1 2015 Revenues (in €m) in Q1 EBIT (in €m) in Q1 Net Cash Flow (in €m) in Q1 76.8 75.5 10.6 64.8 5.4 4.3 3.7 2.7 -0.4 2014 2015 2016 2014 2015 2016 2014 2015 2016 Comments: • FX adjusted revenue increase by 2.2% • Higher Net Cashflow d
Slide 3: Equipment & Service show further growth; Chemicals w/o Canada +8%
Equipment & Service show further growth although Q1 2015 was already strong, Chemicals w/o Canada + 8% In € m, Q1 Rounding differences possible 2016 2015 Change in % Equipment & 63.9 61.9 +2.0 +3.2 Service Chemicals 9.8 10.3 -0.5 -4.9 Operations & other 3.1 3.3 -0.2 -6.1 Total 76.8 75.5 +1.3 +1.7 3
Slide 4: Revenues and earnings WT Group and per segment Q1 2016 vs. Q1 2015
Revenues and earnings WT Group and per segment Q1 2016 vs. Q1 2015 Revenues in €m Group Core Europe North America Asia/Pacific +1.7% - 0.8% +6.2% 76.8 75.5 12.0 11.3 62.8 62.3 +24.3% 4.6 3.7 2015 2016 2015 2016 2015 2016 2015 2016 EBIT in €m -14.0% 4.3 -34.0% 4.7 3.7 3.1 +600% +50.0% 0.7 -0.4 -0.2 0
Slide 5: High EBIT for Q1 below 2015; EPS improved due to lower tax rate
High EBIT for Q1 - as expected - below 2015. EPS improved due to lower tax rate (in Mio. €) Q1 2016 Q1 2015 Revenues 76.8 75.5 Gross margin 45.9 [59.7%] 45.4 [60.1%] Personnal expenses (29.0) [37.8%] (27.9) [37.0%] Other operating expenses (11.8) [15.3%] (12.8) [17.0%] EBITDA 6.0 6.7 Depreciation (2
Slide 6: Higher cash flow and higher investments in equipment and buildings
Higher cash flow and higher investments in equipment and buildings compared to 2015 March 31, Dec. 31, 2016 2015 Balance sheet total 190.7 190.0 Goodwill 42.3 42.3 Equity 82.3 80.3 Equity ratio 43.2% Net finance liquidity 5.7 -1.9 Net working capital 73.4 78.1 March 31, March 31, 2016 2015 Net cash
Slide 7: Share performance and Investor Relations
Share performance and Investor Relations Share performance Analyst Coverage Analyst Recommen- Target Price WashTec (+ Date) dation (€) Hauck & Aufhäuser Buy 35.00 (02/16) HSBC (02/16) Hold 31.00 SDAX MM Warburg (03/16) Buy 32.30 Bankhaus Lampe Buy 33.00 (01/16) Average 32.83 Lazard Freres Own shares
Slide 8: Outlook 2016
Outlook 2016 For the WashTec Grouproup: significant (>3%) increase in revenues and in EBIT (>6%) • Core Europe: significant increase in revenues and earnings • North America: significant increase in revenues and earnings • Asia/Pacific: significant increase in revenues and earnings • Or, in other wo
Slide 9: Financial calendar 2016
Financial calendar 2016 May 11, 2016 Annual General Meeting Augsburg Aug 04, 2016 Publication of H1 Report Oct 28, 2016 Publication of Q3 Report Nov 21-23, 2016 Equity Forum Frankfurt 9 | Conference Call, April 29, 2016
Slide 10: No offer / Confidentiality
No offer: This document does not constitute or form part of an offer for sale or subscription or an invitation or solicitation of an offer to subscribe for or purchase any securities and neither this document nor anything contained herein shall form the basis of any contract or commitment whatsoever