Washtec Ag · XETR:WSU
Washtec — Q2 2024 Earnings Presentation
22 slides from Washtec's earnings presentation, Aug 5, 2024
Slide 1: Financial Statement Q2 2024
Financial Statement Q2 2024 Michael Drolshagen (CEO) | Andreas Pabst (CFO) Board of Management WashTec AG August 5th, 2024
Slide 2: 1 WashTec
WashtTec Q WashtTec ay @ WashTec CLEAN CARS®
Slide 3: Sharpening our Strategy – from machine supplier to ecosystem
Sharpening our Strategy – from machine supplier to ecosystem Enabler Supporter Ecosystem / our overall Unique Selling Point successful Strategy remains: ➢ We focus on Total Customer Care ➢ We focus on Europe and North America 3 | Q2 Report 2024 | WashTec AG
Slide 4: Sharpening our organization for perfect fit to business needs
Sharpening our organization for perfect fit to business needs Besides our segments – the regions Europe and Schematic illustration of a global matrix others as well as organization Focus & responsibilities North America we will implement Business Lines to Business-Line Driver of business strengthen
Slide 5: What are our key focus items in Europe
What are our key focus items in Europe Digital Initiatives / Profitability Focus Convenience Sustainability Products Full offering of high Reduction in washing Bundling of our total time while maintaining Green Car Care end Rollover machine offering (Certificate) for Europe top washing results Optim
Slide 6: New Rollover - Entry Machine: SoftcareSE
New Rollover - Entry Machine: SoftcareSE until uniti tradeshow since 05/2024 ➢ Softcare SE has similar pricing like former EasyWash with higher functionality. ➢ Based on our platform ramp up SmartCare SmartCare period is quite short. full digital offering SoftCare² SoftCare² ➢ Number of sold units e
Slide 7: What are our key focus items in North America
What are our key focus items in North America Products / profitability focus Convenience Sustainability* Operators´ services Unmanned mini tunnel Increase development & Smart Choice and production Speed up washtime Water NA chemical brand Efficiency program Energy (Race to Pikes Peak) One stop shop
Slide 8: Sales approach and market perception in North America
Sales approach and market perception in North America Key Focus items: ▪ Strengthen our sales approach ➢ hiring additional sales reps ➢ support by European Expats ➢ sales training ➢ foster sales activities ▪ Strengthen our perception in market ➢ launch chemical brand ➢ webpage 8 | Q2 Report 2024 | W
Slide 9: 2 Q2 2024 results
5 Q2 2024 results Q WashtTec ay @ WashTec CLEAN CARS®
Slide 10: EBIT increased by 7.8% despite lower revenue
EBIT increased by 7.8% despite lower revenue ▪ Revenue down on prior year H1 WashTec generated revenue of €220.2m Change in the first six months, down 6.8% on the H1 2024 H1 2023 prior year (€236.2m). This was mainly the absolute in % result of lower sales of equipment, €m primarily in the direct sa
Slide 11: Significant 16.2% increase in EBIT with lower revenue in second quarter
Significant 16.2% increase in EBIT with lower revenue in second quarter ▪ Second-quarter revenue down on Q2 prior year Q2 2024 Q2 2023 Change WashTec generated revenue of €119.4m in the second quarter, down absolute in % 6.1% on the prior year (€127.1m). Revenue €m 119.4 127.1 -7.7 -6.1 The reductio
Slide 12: Longterm Group revenue and earnings
Longterm Group revenue and earnings Revenue and EBIT H1 and Q2 in €m, and EBIT margin in a multi-year comparison +29% +39% 0% 0% 236.2 127.1 220.0 220.2 119.0 119.4 195.0 110.2 175.4 88.1 14.5 11.5 18.0 9.9 15.4 16.6 8.3 12.9 5.2 3.5 3.0% 9.2% 5.9% 6.5% 7.6% 4.0% 13.1% 7.0% 7.8% 9.7% H1 H1 H1 H1 H1
Slide 13: H1 and Q2 Revenue by region
H1 and Q2 Revenue by region ▪ In H1/24 the Europe and other region, revenues of €184.7m were slightly below prior year (without China €186.3m**). In Q2/24 revenues increased slightly H1/2024 H1/2023 from € 99.0m (w/o China) to € 100.1m. So overall the weak first quarter, which was characterized by d
Slide 14: H1 and Q2 EBIT by region
H1 and Q2 EBIT by region ▪ EBIT in Europa and other rose by 16.3% to €16.4m in the first half-year (prior year: €14.1m*; €14.6m adjusted H1/2024 H1/2023 for China, corresponding to an increase of 12.3%), mainly due to the prior-year price increases and lower material prices. This also applied to the
Slide 15: Revenue by product
Revenue by product Revenue by product, H1 in €m H1 2024 H1 2023 Change ▪ At €183.4m, Equipment and service absolute in % revenue in H1/24 was down 6.8% on the prior-year figure (€196.8m). As in Equipment and service 183.4 196.8 -13.4 -6.8 the first quarter, this is mainly due to Chemicals 33.8 36.7
Slide 16: H1 EBIT-Bridge
H1 EBIT-Bridge in €m ▪ Gross profit margin increased significantly from 26.7% to 30.0% mainly due to last 0.6 0.7 year´s price 1.3 16.6 15.4 0.4 increases, efficiency 7.3 programs as well as 6.5% 4.3 7.6% a fall in material prices. ▪ Administrative expenses rose by €1.3m to €10.3m (prior year: €9.0m
Slide 17: NOWC, Free cash flow, Net financial debt, Equity ratio
NOWC, Free cash flow, Net financial debt, Equity ratio in €m ▪ Net operating working capital increased relative to 98.2 20.1 72.4 24.9% December 31, 2023, rising 23.7% €0.9m or 1.1% from €83.5m to 84.4 56.4 €84.4m. Relative to June of the prior year, the figure decreased by €13.8m or 14.1%, mainly 6
Slide 18: Development of Order Backlog
Development of Order Backlog Order Backlog still on high level after improving Order Intake in Q2/24 18 | Q2 Report 2024 | WashTec AG
Slide 19: Guidance 2024
Guidance 2024 2023 Guidance 2024 Revenue €489.5m Similar level on prior year ± 3 percentage points EBIT €41.9m Increase in mid-single-digit percentage range Free cash flow €46.1m €m 30-40 ROCE 21.5% ± 1 percentage point This forecast is fundamentally subject to uncertainties. These can result, for e
Slide 20: 20 | Q2 Report 2024 | WashTec AG
20 | Q2 Report 2024 | WashTec AG
Slide 21: Financial calendar 2024
Financial calendar 2024 Date November 6th, 2024 Quarterly statement Q1-3 2024 21 | Q2 Report 2024 | WashTec AG
Slide 22: Disclaimer
Disclaimer Cautionary note with regard to forward-looking statements: This document contains forward-looking statements and statements of future expectations that reflect management's current views and assumptions with respect to future events. Such statements are subject to known and unknown risks