Mark VII parent company reviews successful 2014 - Professional Carwashing & Detailing

Mark VII parent company reviews successful 2014

AUGSBURG, Germany — WashTec AG posted revenue of 302.6 million euros, or 325.3 million U.S. dollars.

AUGSBURG, Germany — WashTec AG, parent company of Mark VII Equipment Inc., recently shared it had a successful year in 2014, according to a press release.

WashTec AG posted revenue of 302.6 million euros, or 325.3 million U.S. dollars, for 2014, noted the release. Its earnings per share increased from 0.8 to 0.91 euros, or 0.98 dollars. The company plans to pay a 1.65 euros per-share dividend.

Earnings before interest and tax (EBIT) increased to 18.4 million euros (19.78 million U.S. dollars), stated the release. This represents an EBIT margin of 6.1 percent.

Read also: Factoring the average profit margin per car washed

The company’s cash flow also remained strong, and its equity ratio was 48.9 percent, reported the release.

"The results of the fiscal year 2014 [are] proof that WashTec is on the right track to increase EBIT margin and achieve our aim of [eight] percent EBIT until 2016,” said Dr. Volker Zimmermann, chief executive officer of WashTec AG. "We are consistently focused on our customers' needs and thereby will continuously create value."

The company’s full annual report can be found on its website.

Click here to read the entire release.

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