Corporate | 18 February 2009 19:52
HWA AG / Final Results/Preliminary Results
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
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HWA AG posts revenue growth, EBIT considerably down on previous year
Affalterbach, 18 February 2009 - Motor racing specialist HWA AG is
reporting revenues of EUR 64.2 million (m) in its preliminary results (HGB
basis) for the year ended 31 December 2008, an increase of 5.4% in
comparison with the previous year.
Operating profit (EBIT), in contrast, fell from EUR 9.1m in 2007 to EUR
0.45m in 2008.
This significant fall in earnings, already announced on 25 November 2008,
is partly attributable to its motor sport business, in which HWA AG acts as
a complete service provider to Daimler AG in its motor racing activities in
the German Touring Car Masters Championship (DTM). The higher expenses that
became necessary in the course of the racing season in order to improve the
team's competitive edge were only compensated in part by HWA AG's business
partner.
In HWA AG's other business segment, vehicles and components, part of the
current vehicles production program was postponed until 2009. Delivery of
the new model in 2008 fell 50% short of the Company's original plans. It is
currently expected that delivery of the model to the customer will be
completed by the end of this year.
HWA AG will be publishing its Annual Report for 2008 in April 2009.
Contact:
Hans-Jürgen Mattheis
HWA AG
Benzstraße 8
71563 Affalterbach
Phone: + 49/ (0) 7144/ 8717- 279
Fax: + 49/ (0) 7144/ 8718- 111
ir@hwaag.com
www.hwaag.com
Company profile HWA AG:
HWA AG was founded in 1998 as a spin-off AMG, which was established in
1967 by Hans Werner Aufrecht as the Mercedes Benz customisation specialist.
Towards the end of 1998 Aufrecht sold a majority interest in AMG Motoren-
und Entwicklungsgesellschaft mbH, as it then was, to Daimler AG. In the
course of the disposal, motor racing, what is today the AMG-Mercedes team
in the German Touring Car Championship (DTM) and parts of the vehicles and
components business was spun off and transferred to HWA AG. In the motor
racing business, HWA AG acts as a full service provider to Daimler AG
Motorsport in the DTM. It is responsible for the whole process of
development and construction of the racing cars, including the motors,
together with all other activities involved in the racing team's
operations. In its vehicles and components business, it develops and builds
cars and vehicle components for the automobile industry. Since 2003 HWA AG
has been producing and servicing racing engines for the Formula 3
Euroseries and the British Formula 3 Series.
HWA AG currently has 251 employees in its Affalterbach works. In 2007 HWA
AG had revenues of EUR 60.9 million and EBIT of EUR 9.1 million. Its net
profit after interest and taxes was EUR 5.6 million. The company has been
listed on the Frankfurt Stock Exchange in the Entry Standard segment since
19 April 2007.
Disclaimer:
This information represents neither an offer to sell, nor a request to
purchase securities of HWA AG. The information contained in this press
release is meant exclusively for people having their domicile and place of
residence in Germany. Securities of HWA AG were not and will not be
registered under the U.S. Securities Act of 1933, in the currently valid
version, and may neither be offered nor sold in the United States of
America. The information contained in this press release may not be
distributed to or within the United States of America, and not be passed on
to 'U.S. persons', as defined in regulation S of the U.S. Securities Act of
1933, in the currently valid version.
18.02.2009 Financial News transmitted by DGAP
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Language: English
Issuer: HWA AG
Benzstraße 8
71563 Affalterbach
Deutschland
Phone: +49 (0)7144 87 17-279
Fax: +49 (0)7144 87 18-111
E-mail: ir@hwaag.com
Internet: http://www.hwaag.com
ISIN: DE000A0LR4P1
WKN: A0LR4P
Listed: Freiverkehr in Berlin, Düsseldorf, München, Stuttgart; Entry
Standard in Frankfurt
End of News DGAP News-Service
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