WashTec AG
XMUN:WSU
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WashTec AG
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WashTec AG
WashTec AG makes and services automated car wash systems. It sells equipment for tunnel washes, roll-over washes, and self-service wash bays, and it also supplies the detergents, spare parts, and maintenance work needed to keep those systems running. Its customers are mainly gas stations, independent car wash operators, convenience retailers, and other businesses that run vehicle washing sites. The company earns money in two main ways: by selling new wash systems and by providing recurring service, parts, and consumables after installation. That service side matters because car wash equipment needs regular upkeep, repairs, and replacement parts over many years. WashTec sits in a useful middle position in the industry, because it does not just build the machines; it helps customers run them reliably and keep them productive. This makes WashTec different from a simple equipment seller. A car wash site is a long-lived asset, so the relationship often continues well after the original sale. That gives the business a mix of project-based income from new installations and steadier follow-on revenue from servicing the installed base.
WashTec AG makes and services automated car wash systems. It sells equipment for tunnel washes, roll-over washes, and self-service wash bays, and it also supplies the detergents, spare parts, and maintenance work needed to keep those systems running. Its customers are mainly gas stations, independent car wash operators, convenience retailers, and other businesses that run vehicle washing sites.
The company earns money in two main ways: by selling new wash systems and by providing recurring service, parts, and consumables after installation. That service side matters because car wash equipment needs regular upkeep, repairs, and replacement parts over many years. WashTec sits in a useful middle position in the industry, because it does not just build the machines; it helps customers run them reliably and keep them productive.
This makes WashTec different from a simple equipment seller. A car wash site is a long-lived asset, so the relationship often continues well after the original sale. That gives the business a mix of project-based income from new installations and steadier follow-on revenue from servicing the installed base.
Revenue: WashTec reported a record first-half revenue of EUR 248 million, up 6.6% year over year, with Q2 revenue also hitting a quarterly record of EUR 137 million, up 10.4%.
Profitability: H1 EBIT was flat at EUR 17.7 million, but the EBIT margin fell to 7.1% from 7.6% because equipment growth and temporary efficiency-program costs weighed on margins.
Outlook: Management confirmed full-year 2026 guidance, still expecting mid-single-digit revenue growth, EBIT to grow faster than revenue, free cash flow of EUR 35 million to EUR 45 million, and a higher ROCE than 2025.
SmartCare: SmartCare Connect is gaining traction, with 54% of rollover revenue in Q2 coming from the new product and 1,500 machines produced so far.
Operations: WashTec is pushing a major production-footprint optimization, especially in Nyrany and Augsburg, and expects about EUR 3 million of annual benefit from shifting 85 workplaces.
North America: North America stood out as the strongest growth region, with H1 revenue up 18.1% and segment EBIT turning positive to EUR 0.8 million, though management said margins are still too low.
