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WashTec AG

WashTec AG supplies vehicle wash equipment across Europe, North America, and other international markets. Its products include gantry and conveyor tunnel carwashes, self-service and commercial vehicle wash systems, water recycling systems, and related peripherals. The company also offers servicing packages, digital smart service solutions such as remote monitoring and equipment control, and spare parts, and it produces and sells chemical products for its wash equipment, including shampoos, waxes, drying aids, and wheel cleaners. Its customers include oil companies and service station chains, supermarkets and retail chains, car dealerships and garages, and independent carwash operators, served through direct sales. WashTec AG was founded in 1885 and is headquartered in Augsburg, Germany.

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WashTec Reaffirms 12-14% EBIT Margin Target for 2028/29

WashTec AG has confirmed its medium- and long-term profitability ambitions, stating that its revised outlook for fiscal year 2026 does not change its strategic direction or long-term earnings potential. The Augsburg-based carwash solutions provider continues to target an EBIT margin of 12-14% in the 2028/29 timeframe, supported by operational efficiency programs, a growing share of recurring revenues and its North American strategy. The company said the revised 2026 outlook primarily reflects short-term developments and a delay in the efficiency programs affecting the current financial year. CEO Michael Drolshagen called the revised 2026 outlook clearly disappointing but said the announced streamlining of the management board and middle management will let the organization act faster and execute strategic priorities with greater focus, adding that fiscal year 2027 should mark a meaningful step toward the ambition. WashTec employs around 1,850 people worldwide and is represented by independent distributors in around 80 countries.
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WashTec Extends CEO Drolshagen to 2030, Cuts Board to Two, Cuts 2026 EBIT Margin Guidance to 8%-9%

WashTec AG is accelerating its transformation into an international solutions and services provider and streamlining its management structure after business and earnings performance fell short of expectations. The Supervisory Board has extended the contract of Chief Executive Officer Michael Drolshagen until the end of April 2030, and the Management Board will, until further notice, consist of two members: Michael Drolshagen as CEO and Andreas Pabst as CFO, with the areas previously overseen by the CSO reorganised and more closely integrated into overall operational responsibility. As part of the reorganisation, long-standing WashTec manager Arthur Wessels is taking on global responsibility for sales and marketing, and the management structure at middle management level has also been adjusted and streamlined. The changes affect the outlook for the 2026 fiscal year: WashTec now expects revenue growth in the mid-single-digit percentage range, led by the Equipment and Service business lines, while the Consumables business line is not yet able to meet expectations, and the organisational changes will reduce revenues for the current fiscal year by a single-digit million figure. WashTec has revised its 2026 earnings guidance and now expects a declining EBIT margin of between 8% and 9%, previously an increase in EBIT disproportionately higher than revenue growth, and consequently a ROCE below the prior year's level, previously an increase of 0.5-2.0 percentage points. The company said delays mainly in the first half of the year, particularly regarding the relocation of production and the optimisation of installation costs, cannot be made up for in the current fiscal year but will contribute positively to earnings from the following year onwards as planned.
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WashTec AG Posts Record Revenue of $248 Million in First Half of 2026

WashTec AG reported record first-half 2026 revenue of $248 million, a 6.6% increase year-over-year, driven by strong equipment sales and a robust North American performance. Second-quarter revenue also set a new quarterly record at $137 million, up 10.4%, while half-year EBIT was essentially flat at $17.7 million, with the EBIT margin dipping to 7.1% from 7.6% a year earlier. North America revenue surged 18.1% to $37 million in the half, and the segment swung to a $0.8 million profit from a $1.5 million loss, aided by a 700-basis-point margin improvement. The company's SmartCare Connect rollout gained traction, accounting for 54% of rollover revenues in the second quarter, and the order backlog stood 13% above the end of 2025. Free cash flow for the half fell by $6 million to $40 million due to higher trade receivables, while the equity ratio declined to 20%.
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