Washtec (WSU) Q3 2026 earnings summary

Executive summary

• Q1–Q3 revenue rose 4.6% YoY to €374.5m, while reported EBIT fell 20.7% to €25.7m amid delayed efficiency benefits, higher costs and €2.0m of organizational optimization expenses.

• Q3 revenue increased 0.7% to €126.7m; EBIT declined 45.9% to €8.0m and free cash flow was negative €5.1m.

Financial highlights

• Q1–Q3 adjusted EBIT, excluding €2.0m of organizational optimization expenses, was €27.7m; reported EBIT margin was 6.9% versus 9.0%.

• Q1–Q3 net income declined to €16.1m from €21.1m; EPS fell to €1.21 from €1.57.

• Q1–Q3 gross margin decreased to 30.0% from 31.2%; EBITDA was €39.1m versus €44.3m.

• Q1–Q3 free cash flow was €8.6m, down €19.2m YoY; operating cash inflow fell to €16.0m from €33.2m.

• Q3 adjusted EBIT was €10.0m, down €4.8m YoY; Q3 net income fell to €4.8m from €9.8m.

Outlook and guidance

• FY2026 revenue growth guidance is mid-single-digit; reported EBIT margin guidance is 8%–9%, with ROCE expected below the prior-year level.

• FY2026 free cash flow guidance is €35m–€45m, more likely toward the lower end; guidance includes expected costs and reflects delayed efficiency benefits and lower-than-expected Consumables revenue.

• Delayed efficiency programs are not expected to be recovered in FY2026; savings from the Czech relocation are expected to materialize in 2027 after completion around year-end 2026 or early 2027.