Q3 statement / Q3 financial report 2021 (PDF 1.05 MB)

Financial Statement Q3 2021

# WashTec Inside

Financial Statement Q3 2021 // Highlights and Key Figures	WashTec AG	2

Further significant increase in revenue and earnings in third quarter

	Q1-3
	rounding differences may occur		Q1- Q3	Q1- Q3	Change
			2021	2020	absolute	in %
	Revenue	€m	306.3	269.3	37.0	13.7
	EBIT	€m	33.0	12.5	20.5	164.0
	EBIT margin	in %	10.8	4.6	6.2	-
	EBT	€m	32.4	11.9	20.5	172.3
	Net income	€m	22.9	7.4	15.5	209.5
	Employees at reporting date	people	1.773	1.767	6	0.3
	Number of shares	units	13,382,324	13,382,324	0	0
	Earnings per share	€	1.71	0.55	1.16	209.5
	Free cash flow*	€m	19.4	19.0	0.4	2.1
	Capital expenditure	€m	1.5	2.6	- 1.1	- 42.3
Equity ratio	in %	34.0	35.5	- 1.5	-
* including the repayment of lease liabilities
	Q3
	rounding differences may occur		Q3 2021	Q3 2020	Change
					absolute	in %
	Revenue	€m	111.3	93.9	17.4	18.5
	EBIT	€m	15.0	7.3	7.7	105.5
	EBIT margin	in %	13.5	7.8	5.7	-
	EBT	€m	14.8	7.1	7.7	108.5
	Net income	€m	10.9	5.3	5.6	105.7
	Number of shares	units	13,382,324	13,382,324	0	0
	Earnings per share	€	0.82	0.39	0.43	105.7

13.7% revenue growth

Revenue in nine months to September €306.3m (prior year: €269.3m). Third quarter revenue up by 18.5% to €111.3m (prior year: €93.9m)

EBIT more than doubled

EBIT in nine months to September improved to €33.0m (prior year: €12.5m). Third quarter EBIT of €15.0m significantly higher than prior year (€7.3m)

Free cash flow slightly above prior year

Free cash flow (including repayment of lease liabilities) of €19.4m in nine months to September slightly above prior year (€19.0m)

Full year guidance for 2021 confirmed

Revenue is expected to increase by over 9% with an EBIT margin in the region of 10%

Financial Statement Q3 2021 // Contents	WashTec AG	3

Contents

Quarterly Statement for the period

January 1 to September 30, 2021

Report on economic position . . . . . . . . . . . . . . . . . . . . . . . . . 5

1. Group revenue and earnings . . . . . . . . . . . . . . . . . . . . . . . 5

2. Revenue and earnings by region . . . . . . . . . . . . . . . . . . . . 8

3. Financial position and cash flows . . . . . . . . . . . . . . . . . . . 9

4. Outlook, opportunities and risk report . . . . . . . . . . . . . . . 10

4.1 Outlook . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

4.2 Opportunities and risks for Group development . . . . . . . . . . 10

Selected financial Information for the period ­ January 1 to September 30, 2021

Consolidated Income Statement . . . . . . . . . . . . . . . . . . . . . . . .12

Consolidated Balance Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13

Consolidated Cash Flow Statement . . . . . . . . . . . . . . . . . . . . . .15

Contact . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	16
Financial calendar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	16

Financial Statement Q3 2021 // Highlights and key figures

WashTec AG

4

Highlights and key figures

Q3 2021

Financial Statement Q3 2021 // Highlights and key figures	5

Report on economic position

Earnings, Q1-3

in €m, rounding differences may occur	Q1-Q3 2021	Q1-Q3 2020	Change
			absolute	in %
Revenue	306.3	269.3	37.0	13.7
EBIT	33.0	12.5	20.5	164.0
EBIT margin in %	10.8	4.6	6.2	-
EBT	32.4	11.9	20.5	172.3
Net income	22.9	7.4	15.5	209.5
Earnings, Q3
in €m, rounding differences may occur	Q3 2021	Q3 2020	Change
			absolute	in %
Revenue	111.3	93.9	17.4	18.5
EBIT	15.0	7.3	7.7	105.5
EBIT margin in %	13.5	7.8	5.7	-
EBT	14.8	7.1	7.7	108.5
Net income	10.9	5.3	5.6	105.7

1. Group revenue and earnings

The Group generated revenue of €306.3m in the year to date, up 13.7% on the prior year (€269.3m). Significant revenue growth was recorded in all product and customer segments ­relative to the prior year.

Revenue as of September 30 was slightly down compared with 2018 and 2019. This exclusively relates to key account revenue, which is still below pre-crisis levels despite a significant recovery in the third quarter.

At constant exchange rates, the year-on-year revenue growth was 14.3%.

Revenue of €111.3m was generated in the third quarter (prior year: €93.9m). This corresponds to 18.5% revenue growth (17.9% at constant exchange rates). Third quarter revenue was thus slightly up on 2019 (€110.1m) and slightly down on 2018 (€112.6m).

The year-on-year revenue growth in the third quarter primarily related to increases with key ­accounts. Key account revenue went up by more than 50%. Despite this, it was still below pre-crisis levels in the third quarter.

Revenue in the direct sales business was also once again higher than in the prior year. As in the second quarter, direct sales revenue was higher than in the pre-crisis years.