WashTec Hari Pasar Modal: Layanan Global Menjadi Fokus Utama sebagai Pendorong Pendapatan Berulang

Management positioned service as a strategic "economic moat" central to value creation, driving uptime and customer loyalty and supported by ~1,800 employees (700+ in service) with 98% of calls answered directly.
Recurring revenues are growing: service revenue has a >8% CAGR since 2021, service share rose from 26% (2021) to 31% (2025), and recurring revenues climbed from ~38% (2022) to ~47% (2025) with a target of ~50% by 2027.
Digital tools and efficiency initiatives—notably mywashtec and CarWash Assist—aim to boost remote fixes and first-fix rates, reduce installation costs (targeting a 15–30% throughput time cut) and enable higher uptime and improved profitability, especially in low-density regions.
WashTec (ETR:WSU) used the third installment of its Capital Markets webcast series to provide investors with a detailed look at its Global Service business line, emphasizing service as a strategic value driver and a key lever for recurring revenue, uptime, and customer loyalty. The session featured remarks from Investor Relations Manager Kevin Lorenz, CEO and CTO Michael Drolshagen, Head of Global Service Erik Ferreira Da Silva, and CFO Andreas Pabst, followed by a Q&A with participants.
Management frames service as central to strategy
Drolshagen said WashTec views service as "far more than just a support function," describing it as central to value creation and to delivering "maximum uptime, the highest quality, and a seamless experience for end users." He outlined market pressures affecting operators, including skilled labor shortages, higher service expectations, and increasing uptime requirements, while the number of car washes stagnates in many markets.
He reiterated four strategic themes WashTec has discussed in earlier webcasts: comfort and ease of use; measurable business success for customers across the lifecycle; sustainability in chemistry, water, and operations; and quality throughout the lifecycle. In that context, Drolshagen said service is shifting from a reactive model toward a "data-driven, proactive, and digital solutions provider," supported by connected systems, preventive fault detection, continuous monitoring, and digital tools for technicians.
Drolshagen also pointed to the company's scale, citing around 1,800 employees worldwide with more than 700 in service, and highlighted operational metrics such as answering 98% of calls directly and still in person. He characterized the service organization as an "economic moat," saying it strengthens proximity to customers and supports market position.
Global Service footprint, revenue growth, and activity mix
Ferreira Da Silva described WashTec's service operations across 14 countries under a centrally coordinated structure from Augsburg. He said WashTec sites are visited on average six to seven times per year, with 87% of cases resolved on the first intervention, and that the organization generates more than a quarter of a million service reports annually.
He also provided a revenue perspective, stating that since 2021, service revenue has grown at a compounded annual rate of more than 8%, with the service share of the business rising from 26% in 2021 to 31% in 2025. He attributed growth to expanded regional coverage, pricing power, and service performance.
Ferreira Da Silva broke down service activities, including digital services and platform access; equipment installation and commissioning (including work performed with partners); preventive maintenance; repairs; remote support via HelpDesk; warranty and goodwill work; and spare parts management, administration, and training. He said installation represents around 30% of total working hours, mainly performed by partners, while preventive maintenance, repairs, and remote support account for 55% of activities. The remaining categories, including spare parts management, administration, and training, account for around 7%.
Service models, coverage, and regional differences
WashTec outlined two main service models: service for customers without a service contract (which Ferreira Da Silva said represents around 60% of pre-consolidation service revenue) and "service amendment contracts" that bundle services such as remote monitoring, guaranteed response times, and maintenance packages. For key accounts, the company aims to provide service levels across multi-country networks, while non-key accounts can use full maintenance contracts designed to provide cost visibility through equipment end-of-life.
Ferreira Da Silva said WashTec services roughly 70% of its installed base, with about 30% categorized as "sleeping customers," which management described as potential upside for expanding service activity. He also reviewed regional figures:
Europe and other countries: installed base of more than 38,000 sites and EUR 125 million in service revenue; 40% of customers under service amendment contracts; around 490 technicians; approximately 70 machines per technician.
North America: EUR 31 million in revenue; more than 5,500 units installed base; 30% of sites under service and maintenance contracts; about 90 technicians plus local partners; approximately 32 machines per technician.
Overall: service covers 65%–70% of the installed base with more than 580 technicians and EUR 155 million service revenue in 2025.
In the Q&A, management said service profitability in North America is "a little bit lower" than in Europe, citing longer travel distances and lower machine density as factors reducing technician productivity. Executives also said digital solutions such as CarWash Assist could help improve profitability by resolving more issues remotely, and that WashTec has analyzed where it makes sense to add technicians or deepen cooperation with subcontractors.
Digital tools and efficiency initiatives, including CarWash Assist
WashTec highlighted its mywashtec.com platform as a digital backbone for real-time machine information and service transparency. Ferreira Da Silva described real-time monitoring as a way to detect anomalies before breakdowns and proactively coordinate corrective actions with customers, including an example of monitoring a large key account's installed base in North America.
A focal point of the presentation was CarWash Assist, which management characterized as an evolution of HelpDesk capabilities. The system combines video live streams, machine status, and remote functions to support wash customers and operators. Ferreira Da Silva said four cameras provide a 360-degree view and archive events for up to five days, and that remote control actions require on-site confirmation due to security policies. He added that third-party devices can also be connected via an IoT gateway for remote control functions.
Management said CarWash Assist is intended to support higher uptime and customer satisfaction while reducing the need for trained on-site staff and enabling fully unmanned sites. Ferreira Da Silva also described commercial bundling concepts, including pairing service contracts with chemical supply for a monthly fee that could be structured as a pay-per-wash model.
Separately, Ferreira Da Silva discussed efforts to reduce installation costs, which he said represent a double-digit percentage of machine sales. WashTec aims to reduce installation throughput time by around 15%–30% and lower long-term installation costs. A hub-based logistics concept is planned for gradual rollout starting in the first half of 2026, with first effects expected in 2026 and further savings anticipated from the first quarter of 2027 onward. He also said WashTec plans to open a WashTec Academy in Augsburg in the first quarter of 2027 to speed up onboarding and upskilling for technicians.
Financial view: lifecycle revenues and growing recurring mix
Pabst framed service economics around the installed base, stating that over a typical machine lifetime of around 10 years, roughly half of total revenues are generated after installation through service and consumables. He said equipment accounts for about 50%–60% of lifetime revenues, service contributes another 20%–30% depending on configuration and mix, and consumables add about 15%–25%.
He also noted that WashTec's recurring revenues (service and consumables) carry higher indicative profitability than equipment, referencing the company's "CM3" contribution margin metric (described as gross profit including selling expenses). Pabst said around 75% of service employees are direct technicians, and that this share has been increasing year over year.
Looking forward, Pabst said WashTec targets around 5% average annual growth, driven disproportionately by recurring revenues. He said recurring revenues represented about 38% in 2022, reached roughly 47% by 2025, and are expected to reach around 50% by 2027. He attributed the shift to service excellence and uptime, bundled offerings, and digitalization, including predictive maintenance and subscription-based models with "attractive margins and low incremental costs."
In operational KPIs, Pabst cited approximately 250,000 service reports per year and said service reports per technician declined about 1% year over year due mainly to hiring and training new technicians in 2025, which he said should reverse as new staff ramp. He also reiterated that "sleeping customers" are around 30% and said the first-fix rate exceeds 85%.
During Q&A, Ferreira Da Silva also said different equipment types drive different service needs: tunnels often have operator staff who can address simple anomalies, while rollovers are more frequently located at sites where staff are less familiar with the equipment, increasing the need for WashTec response. He said self-wash/high-pressure systems face wear issues such as hose degradation due to direct customer interaction. Executives also said they are working on chatbots and AI tools to help address basic questions for customers and staff, aiming to improve efficiency in first-level support.
Lorenz closed the session by reminding participants that WashTec planned to publish its fiscal year 2025 financial report the following day, alongside a press conference and earnings call.
About WashTec (ETR:WSU)
WashTec AG provides solutions for car wash in Germany, Europe, North America, and the Asia Pacific. The company offers gantry carwashes, self-service, and commercial vehicle wash equipment, as well as conveyor tunnel systems. It also provides water recovery systems; full maintenance; on-call service agreements; service projects and upgrades; spare parts; and digital solutions. In addition, the company offers car wash management services; and financial services, such as financing and leasing solutions.