WashTec : Presentation Conference Call May 6, 2024

Financial

Statement

Q1 2024

Michael Drolshagen (CEO) | Andreas Pabst (CFO)

Board of Management WashTec AG

May 6th, 2024

1

Update on WashTec

WashTec Management Board

	Michael Drolshagen		Andreas Pabst		Sebastian Kutz
	CEO/CTO		CFO		CSO
▪	Corporate culture,	▪	Finance/Controlling	▪	Sales
	communication & mission	▪	IT	▪	Key Account Management
	statement	▪	Purchasing	▪	Marketing
▪	Human Resources	▪	Investor Relations	▪	Business Units/Product
▪	Production	▪	Legal and Compliance		Management
▪	Sustainability	▪	Risk Management	▪	WashTec Carwash
▪	R&D	▪	Internal Audit		Management GmbH
▪	Quality	▪	Insurance
▪	Service	▪	WashTec Financial Services
▪	AUWA-Chemie GmbH		GmbH

3 | Quaterly statement Q1 2024 | WashTec AG

New Rollover - Entry Machine

today

from mid of May 2024 onwards

SmartCareSmartCare

SoftCare		SoftCare	digital offering
	full
Classic		Classic
SoftCare Primo	cap	SoftCare Primo
EasyWash		New Entry Machine

• New Entry Machine will have similar pricing like former EasyWash with higher functionality.
• Based on our platform ramp up period is quite short.
• Number of sold units expected to increase for entry market.
• New Entry Machine will not offer full range of digital features.

4 | Quaterly statement Q1 2024 | WashTec AG

Come and visit us - WashTec will be at this upcoming fair

UNITI expo

May 14-16, 2024 | Stuttgart

Come and visit us there!

5 | Quaterly statement Q1 2024 | WashTec AG

US tunnel strategy: new "mini-tunnel"

Conversion IBA (in bay automatics/rollover) to Tunnel for C-Store industry

• Mark VII/WashTec is the dominant supplier of carwash equipment for C-Stores in the USA.
• Rollover are the domain of the C-Stores (fuel stations), with approximately 23.500 units.
• Tunnel car wash is the preferred car wash solution for the majority of the car owners in the US, as the capacity and throughput are higher.
• We see a potential of appr. 1.500 - 2.000 rollover wash bays which are suitable (size of wash bays) for the change from rollover to a mini tunnel.
• The business case for operators is proven positive,
  with a pay off period of 1,3 years by a 2,5 times higher investment.

6 | Quaterly statement Q1 2024 | WashTec AG

Come and visit us - Mark VII will be at this upcoming fair

ICA - the largest carwash trade fair in USA

May 13-15, 2024 | Nashville

• 3 pitches to present the Mini Tunnel to an interested audience
• 1 presentation on the opening day
• A complete Mini Tunnel as an exhibit
• Training of the gantry car wash sales staff with a simplified price list

Come and visit us there!

7 | Quaterly statement Q1 2024 | WashTec AG

2

Q1 2024 results

First-quarter EBIT margin at prior-year level despite slow start to the year

																									▪ Revenue down on prior year
Q1
																								WashTec generated revenue of €100.8m
												Change
				Q1 2024		Q1 2023												in the first three months, down 7.7% on
									absolute				in %			the prior year (€109.2m). This was mainly
																									the result of lower sales of equipment,
Revenue	€m				100.8		109.2		-8.4							-7.7
												particularly to key accounts in North
EBIT	€m				5.1		5.5		-0.4							-7.3			America.
EBIT margin	%				5.1		5.0					-					10 bp			▪ EBIT margin at prior-year level
																									Despite the lower revenue, EBIT in the
Net income	€m				3.1		3.5		-0.4						-11.4
																									first three months amounted to €5.1m,
Number of Shares	units		13,382,324		13,382,324					0								0.0
													only slightly down on the prior year
																									(€5.5m). As a result, the EBIT margin
Earnings per Share	€m		0.23		0.26	-0.03						-11.4
																									increased slightly to 5.1% (prior year:
Free cash flow	€m					9.3		1.9			7.4					389.5
										5.0%). Adjusted for one-off expenses of
																									around €1m, EBIT rose by around 11%
Net cash outflow from investing activities	€m					1.4		11.1		-9.7						-87.4
									compared to the prior-year quarter.
														-
Equity ratio	%		33.9		31.2						270 bp
																									▪ Increase in free cash flow
Employees at reporting date	people		1,694		1,785		-91					-5.1
																									Free cash flow improved in the first three
bp: basis point (1/100th of a percentage point)
																								months to €9.3m (prior year: €1.9m) due
Figures in this report are rounded. Because of this, individual figures may not add up to the stated totals and percentages may not precisely correspond
to the absolute figures they relate to.																									to lower capital expenditure and a refund
																									of capital gains tax prepayments.
																									▪ Guidance for full year 2024
																									The WashTec Group confirms its guidance
9 | Quaterly statement Q1 2024 | WashTec AG																								for fiscal year 2024.

Group revenue and earnings

Revenue and EBIT Q1 in €m, and EBIT margin in a multi-year comparison

+200%

+15%

101.0	109.2
100.8

87.3	84.8

				5.5	5.1
		3.5	4.6
1.7
	1.9%	4.1%	4.6%	5.0%		5.1%
	Q1	Q1	Q1	Q1	Q1
2020	2021	2022	2023	2024

• Despite lower revenues compared to last year, we are facing third year in a row revenues >€100m. This is an increase over the last five years of 15%.
• EBIT margin increased every year - from 1.9% in Q1/20 to now 5.1% in Q1/24. This is an EBIT CAGR of ~30%.

10 | Quaterly statement Q1 2024 | WashTec AG