Washtec Ag · XETR:WSU
Washtec — FY2022 Earnings Presentation
28 slides from Washtec's earnings presentation, Mar 30, 2023
Slide 1: Annual Report 2022, WashTec AG
Annual report 2022 Annual Report 2022, WashTec AG Dr. Ralf Koeppe, CEO/CTO, Andreas Pabst CFO 30.03.2023
Slide 2: Update on WashTec
11Update Updateon on WashTec WashTec 2 | Annual report 2022 | March 30, 2023 | WashTec AG
Slide 3: Our Mission: Sustainable Car Wash
Our Mission: Sustainable Car Wash Smart Machines Clean Cars Green Water Chemicals Recycling Digital Platform 3 | Annual report 2022 | March 30, 2023 | WashTec AG
Slide 4: Year 2022 – Results and selected achievements
Year 2022 – Results and selected achievements Multiple price increases Reliable delivery to to compensate material our customers and labour price increases despite of intensified delay effect in global supply chain and order backlog conversion energy crisis Slow commissioning Revenue € 482.2m Contin
Slide 5: Year 2022 – Results and selected achievements
Year 2022 – Results and selected achievements SmartCare extension to a scalable platform for key accounts and direct business JetWash update package from warm to cold water usage – contributions to energy saving myWashTec as a digital documentation hub for partners First customer Data platform for s
Slide 6: SmartCare – Next generation CarWash system now as a platform
SmartCare – Next generation superior CarWash system now as a platform SMART CARE Additional configurations Remote connectivity and diagnostics available including machine heights Individual control of all settings: Available as a scaleable pricing, chemical dosing or washing platform for programs ke
Slide 7: First customer installation of SmartCare and AquaPur modular in the U.S.
First customer installation of SmartCare and AquaPur modular in the U.S. Rollover SmartCare NA (UL-Version) Wasseraufbereitung Aqua Pur Modular (UL-Version) 7 | Annual report 2022 | March 30, 2023 | WashTec AG
Slide 8: PostCovid return: Fairs all over the world in 2022
PostCovid return: Fairs all over the word in 2022 autopromtec 2022, Bologna, UNITI expo in Stuttgart, May 2022 Example triple SmartCare installation, France 8 | Annual report 2022 | March 30, 2023 | WashTec AG
Slide 9: We are committed to integrating sustainability into our business model
We are committed to integrating sustainability into our business model 1. Comprehensive sustainability reporting in 2021 WashTec Sustainability Report 2021 2. ESG Company of the Year 2022 – Awarded by Business School Augsburg 9 | Annual report 2022 | March 30, 2023 | WashTec AG
Slide 10: WashTec - economic sustainability: Leadership in sustainable carwash
WashTec - economic sustainability Leadership in sustainable carwash Measures energy crisis Energy Saving Changing JetWash from warm to cold wash Enormously reduced energy consumption with consistent wash quality Example: 2 space JetWash cite One time invest 1200 € Yearly savings* 1.624 € (gas) / 2.0
Slide 11: WashTec - economic sustainability: Leadership in sustainable carwash
WashTec - economic sustainability Leadership in sustainable carwash without Water Treatment vs. with Water Treatment Measures drought Water consumption of fresh water (in liters per wash) Source: WashTec Market Intelligence 11 | Annual report 2022 | March 30, 2023 | WashTec AG
Slide 12: WashTec - economic sustainability: Leadership in sustainable carwash
WashTec - economic sustainability Leadership in sustainable carwash WashTec participated in the Twin Transformation Study by Ernst&Young and Fraunhofer FIT EY Studie: Digital und nachhaltig die Zukunft sichern | EY - Deutschland Data structure setup for data analytics Wash count analytics BI and AI
Slide 13: WashTec ESG
WashTec ESG Environmental sustainability Social sustainability Dedicated to eco-efficiency Care for people and culture WashTec target Energy crisis taskforce 30% reduction CO2 reducing consumption CCF scope 1,2 in about 20% production countries Contribution to the reduction of CO2 emissions in We ar
Slide 14: Update on FY 2022 results
12Update FY 2022 on results* WashTec *Rounding differences may occure 14 | Annual report 2022 | March 30, 2023 | WashTec AG
Slide 15: 2022 at a glance - significant revenue growth with EBIT margin of 7.9%
2022 at a glance - significant revenue growth with EBIT margin of 7.9% in a challenging economic environment Revenue of € 482.2m significantly higher than prior Revenue year (€ 430.5m), among other things due to price increases and exchange rate effects € 482.2m (PY € 430.5m) EBIT of €38.0m down on
Slide 16: 2022 with new record revenue
2022 with new record revenue in € m 12.0% 15.7% 482.2 ▪ Seasonality: WashTec 6.6% normally shows low 430.5 first quarter and high 8.0% fourth quarter 19.1% 143.7 ▪ 2022: Revenue in each 124.2 119.0 118.6 quarter higher than in 110.2 111.3 101.0 the same quarter of 84.8 the previous year ▪ Q4/22 best
Slide 17: Revenue performance in € million by products
Revenue performance in € million by products in € m +12.5% 420.0 373.2 +11.6% 56.9 51.0 -15.9% 6.3 5.3 FY FY FY FY FY FY 2021 2022 2021 2022 2021 2022 Equipment and service Chemicals Others 17 | Annual report 2022 | March 30, 2023 | WashTec AG
Slide 18: Revenue by region
Revenue by region in €m Higher proportion of revenue from North America Europe North America Asia/Pazific € 371.6m € 107.7m € 17.6m Asia/Pazific 3% +6.6 % +39.0 % -2.8 % NA PY 4% 22% PY 17% ▪ Europe: Revenue growth mainly in key accounts and positive chemical business ▪ NA: Revenue overUSD 100m for
Slide 19: Revenue and EBIT performance by regions
Revenue and EBIT performance by regions in €m +6.6% 371.6 348.7 +39.0% 107.7 -9.5% -2.8% 77.5 40.2 36.4 -69.6% 18.1 17.6 -66.7% 4.6 1.4 1.2 0.4 GJ GJ GJ GJ GJ GJ GJ GJ GJ GJ GJ GJ 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 2022 Revenue EBIT Revenue EBIT Revenue EBIT North America Europe
Slide 20: Full-year EBIT significantly below prior year
Full-year EBIT significantly below prior year in €m EBIT margin* 4.1% 13.1% 13.5% 10.2% 4.6% 7.0% 8.2% 10.7% 10.6% 7.9% ▪ Overall material price increases and +21.3% productions -35.3% -16.8% inefficiencies due to -42.8% 45.7 disruption of supply chain gives +31.4% 38.0 pressure on margins 15.0 15.4
Slide 21: EBIT bridge: lower gross margin and higher selling expenses
EBIT bridge: lower gross margin and higher selling expenses (esp. freight costs) lead to lower EBIT in €m 10.6% 7.9% -17% 15.2 12.5 45.7 6.9 1.2 0.4 0.7 38.0 1.2 EBIT Revenue GM Sales & R&D admin. Results from other EBIT 2022 2021 growth decrease Marketing expenses currency with 2021 (26.8%) exchang
Slide 22: Free cash flow below prior year mainly due to net operating working capital
Free cash flow below prior year mainly due to increase in net operating working capital ▪ Free cash flow significantly below prior year: > lower earnings before taxes > Significant increase in net operating working capital due to high trade accounts receivable as of the reporting date and increased
Slide 23: NOWC turnover, ROCE and Equity Ratio
NOWC turnover, ROCE and Equity Ratio in €m NOWC ROCE Equity Ratio NOWC turnover in % 20.2 % 21.8 % 25.8% 36.9% 105.2 20.2% 31.0% 86.9 71.6 Inventories 57.1 A/R 71.5 82.2 A/P -16.1 -22.7 Downpayments -25.6 -25.9 Dec 2021 Dec 2022 Dec 2021 Dec 2022 Dec 2021 Dec 2022 23 | Annual report 2022 | March 30,
Slide 24: Guidance 2023
Guidance 2023 2022 Guidance 2023 Revenue 482.2m€ at prior-year level +/-3% EBIT 38.0m€ significant increase >= 10% Free Cashflow 16.2m€ significant rise >= 10% ROCE 20.2% >= 1 percentage point 24 | Annual report 2022 | March 30, 2023 | WashTec AG
Slide 25: 25 | Annual report 2022 | March 30, 2023 | WashTec AG
25 | Annual report 2022 | March 30, 2023 | WashTec AG
Slide 26: Financial Calendar 2023
Financial Calendar 2023 Date Event May 4, 2023 Q1 Statement May 15, 2023 Annual General Meeting June 21, 2023 Sustainability report | Press conference August 3, 2023 Half-yearly financial statement November 2, 2023 Q3 Statement 26 | Annual report 2022 | March 30, 2023 | WashTec AG
Slide 27: Event Calendar 2023
Event Calendar 2023 Date Event April 4-5, 2023 Roadshow Zürich/Paris May 16, 2023 Spring Conference, Equity Forum, Frankfurt June 15, 2023 Warburg Highlights Conference, Hamburg November 27.-29., 2023 Equity Forum, Frankfurt 27 | Annual report 2022 | March 30, 2023 | WashTec AG
Slide 28: Disclaimer
Disclaimer Cautionary note with regard to forward-looking statements: This document contains forward-looking statements and statements of future expectations that reflect management's current views and assumptions with respect to future events. Such statements are subject to known and unknown risks