Germany's WashTec H1 revenue rises on higher equipment sales
Germany's WashTec H1 revenue rises on higher equipment sales
Overview
Germany carwash solutions provider's H1 revenue rose 6.6% to record level, driven by equipment sales
EBIT for H1 was flat as strategic program costs offset gains, with margin down to 7.1%
Company confirmed 2026 guidance, citing strong North America orders but lower free cash flow
Outlook
WashTec AG confirms overall guidance for fiscal yr 2026
Company expects delays in efficiency projects to be made up during the yr
WashTec AG says forecast excludes further significant worsening in Middle East or commodity markets
Result Drivers
EQUIPMENT SALES - Co said record H1 revenue was mainly driven by higher sales volumes in Equipment business line
STRATEGIC PROGRAM COSTS - Co said EBIT was flat as additional expenditure for implementation of efficiency programmes weighed on profitability, particularly in Europe
NORTH AMERICA DEMAND - Co said orders received for equipment rose, mainly due to double-digit percentage growth in North America
Company press release: ID:nEQ3VKZgya
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| EUR 247.80 mln |
|
H1 EPS |
| EUR 0.85 |
|
H1 Net Income |
| EUR 11.30 mln |
|
H1 EBIT |
| EUR 17.70 mln |
|
H1 EBIT Margin |
| 7.10% |
|
H1 Pretax Profit |
| EUR 16.30 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the industrial machinery & equipment peer group is "buy"
Wall Street's median 12-month price target for Washtec AG is €55.00, about 38.9% above its August 3 closing price of €39.60
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 15 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)