WashTec presented a new forecast for 2020 on Monday and anticipates a decline in sales of between 15 percent and 20 percent. In the previous year, sales of EUR 436.5 million had been achieved. Before interest and taxes, the profit margin should drop from 8.3 percent to a value between 3 percent and 5 percent. Free cash flow should increase, according to WashTec, after having achieved a free cash flow of 15 million euros in 2019.
The company attributes the expected declines in the numbers to the effects of the COVID-19 pandemic.
“The management of the WashTec Group is pushing ahead with the implementation of the performance program that started last year and is adapting the structures and processes of the company to the new development. In the medium term, the goal remains to achieve a double-digit EBIT margin again through the implemented measures, ”said the company.
At a glance – chart and news: WashTec