Washtec (WSU) Q4 2025 earnings summary

Executive summary

• Achieved record revenue of EUR 498.6 million in 2025, a 4.6% increase year-over-year, with EBIT up 7.5% to EUR 48.9 million and an EBIT margin of 9.8%.

• Free cash flow increased 6.1% to EUR 41.9 million, with adjusted growth of 45% excluding a prior-year tax reimbursement.

• Growth driven by efficiency programs, digitalization, and product innovation, despite geopolitical and market volatility.

• Strong European performance offset weaker North America results; recurring revenues from service and consumables rose to 45.1% of total.

• Order backlog at year-end up 9% year-over-year, indicating strong future business.

Financial highlights

• Revenue reached EUR 498.6 million (+4.6% year-over-year), with currency-adjusted growth at 5.7%.

• EBIT increased to EUR 48.9 million (+7.5%), EBIT margin improved to 9.8% from 9.5%.

• Free cash flow rose 6.1% to EUR 41.9 million.

• Earnings per share at EUR 2.29, slightly below prior year due to higher tax expenses.

• ROCE improved by 1.2 points to 24.8%, equity ratio declined to 28.6%.

Outlook and guidance

• 2026 guidance: mid-single-digit revenue growth, EBIT to increase disproportionately, free cash flow expected between EUR 35–45 million.

• ROCE targeted to rise by 0.2–2.0 percentage points.

• Cautious outlook due to geopolitical risks, especially in the Middle East, and ongoing North America strategy review.

• Order backlog at end of 2025 up 9% year-over-year, providing a solid foundation for 2026.