WashTec AG: Revenue growth of 2.3% leads to a new first-quarter record; EBIT slightly weaker due to planned temporarily higher costs and some delays in efficiency projects

Press release WashTec AG: Revenue growth of 2.3% leads to a new first-quarter record; EBIT slightly weaker due to planned temporarily higher costs and some delays in efficiency projects

• Revenue: +2.3% to €111.3m (prior year: €108.8m)
• EBIT: –22.4% to €3.8m (prior year: €4.9m)
• EBIT margin: 3.4% (prior year: 4.5%)
• Free cash flow: –57.6% to €7.0m (prior year: €16.5m)
• ROCE: 24.2% (prior year: 23.4%)
• Guidance for fiscal year 2026 confirmed

Augsburg, May 5, 2026 – The WashTec Group generated revenue of €111.3m in the first three months, up 2.3% on the prior year (€108.8m). This increase was mainly due to the rise in revenue in the North America segment, primarily in the Equipment business line. In the Europe and Other segment, revenue remained stable overall compared to the prior year

At €3.8m, WashTec’s EBIT in the first three months was down on the prior year (€4.9m). The EBIT margin was 3.4% (prior year: 4.5%). While EBIT in the North America segment improved significantly year on year, the development of EBIT in the Europe and Other segment was affected by planned temporarily higher costs associated with the expansion of the Czech site and some delays in efficiency projects – primarily involving installation and logistics costs – as well as by the weather-related weaker business performance in Consumables.

At €7.0m, the WashTec Group’s free cash flow for the first three months was down on the prior year (€16.5m), mainly due to the lower cash inflow from operating activities.

ROCE improved by 80 basis points over the prior-year quarter to 24.2%, mainly due to the continuous improvement in earnings over the last four quarters.

Equipment orders received were significantly higher in the first three months of the year than in the prior-year quarter. This cut across both segments and was primarily due to the positive trend in the North America segment, where the increase was well into the double-digit percentage range. Due to the higher equipment orders received, the Equipment order backlog at the end of March was also up on last year, in both the Europe and Other and the North America segments.

The WashTec Group confirms its guidance for fiscal year 2026 and expects that the delays in efficiency projects will be made good over the course of the year. This forecast does not make allowance for any further significant worsening of the economic situation due to the conflict in the Middle East. However, we are currently seeing a significant increase in uncertainty regarding future developments as well as high volatility in the raw materials markets.

“WashTec has started 2026 on a strong note. Full order books and record revenue in the first quarter demonstrate that our customers increasingly view us as a reliable partner and a comprehensive car wash solution provider. Our new products, such as SmartCare Connect, Magic Care, and the new self-service car wash JetWash Connect, are receiving a very positive response. Our efficiency programs are working, even if we still need to pick up the pace in some areas of implementation. However, the current geopolitical situation – particularly the war with Iran – is causing growing uncertainty and making it difficult to provide reliable forecasts. Nevertheless, we are working with determination to achieve our short- and medium-term goals,” explained Michael Drolshagen, CEO of WashTec AG.


About WashTec:
The WashTec Group, based in Augsburg, Germany, is the leading provider of innovative solutions for carwash worldwide. WashTec employs around 1,850 people worldwide and is present with own subsidiaries in the segments North America and Europe and Other. WashTec is also represented by independent distributors in around 80 countries.

Key figures:

€m, IFRS	Q1 2026	Q1 2025	Change in %
Revenue	111.3	108.8	2.3
EBIT	3.8	4.9	– 22.4
EBIT margin in %	3.4	4.5	– 110 bps
EBT	3.2	4.3	– 25.6
Net income	2.2	2.9	– 24.1
Earnings per share1) (in €)	0.17	0.22	– 22.7
Free cash flow	7.0	16.5	– 57.6
ROCE in %2)	24.2	23.4	80 bps

 

€m, IFRS	Mar. 31, 26	Dec. 31, 25	Change abs.
Balance sheet total	293.3	286.6	6.7
Equity	82.1	82.0	0.1
Equity ratio in %	28.0	32.5	– 450 bps
Net operating working capital3)	93.5	92.5	1.0
Employees on reporting date	1,874	1,861	13

1) Basis: weighted average number of shares in Q1 2026: 13,310,205 and in Q1 2025: 13,382,324; basic = diluted
2) EBIT (calculated as the rolling sum of the last four quarters) divided by capital employed (calculated as the average over the last five quarters)
3) Trade receivables (incl. other receivables) + inventories − trade payables − contract liabilities from prepayments


Contact:
WashTec AG
Argonstrasse 7
86153 Augsburg

Tel.: +49 (0)821 - 5584 - 0
Mail: ir@washtec.com