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Höft & Wessel AG

EANS-News: Hoeft & Wessel AG records very good level of orders

Hanover/Germany, 04 November 2010. (euro adhoc) -

Shortages of electronic components lead to deferments of turnover to 
Q4
  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
9-month report
Subtitle: Shortages of electronic components lead to deferments of 
turnover to Q4
... - Profit
deferment as a result of temporary currency effects - Strong fourth 
quarter and a slight increase in sales for 2010 are forecast - Cash 
flow at record level
The Hoeft & Wessel Group has recorded a very good order intake 2010. 
The incoming orders of the IT and engineering group for ticketing, 
parking and mobile solutions also continued their extremely positive 
trend during the third quarter of the current year. The first nine 
months had facilitated new ledger entries for orders with a total 
volume of EUR 66.3 million. This represents a year-on-year increase 
of 15 per cent (30 September 2009: EUR 57.5 million.)
During 2010, Hoeft & Wessel has been in a position to secure orders 
for e- ticketing systems in Spain and Germany, for automatic parking 
ticket machines on the Isle of Wight in the United Kingdom and for 
mobile terminals from Rewe, among other successful sales. During 
October 2010, this was supplemented by a large-scale order from the 
Swiss Federal Railways (SBB) for a new mobile communications solution
based on GSM-R for shunting and construction operations. As a result,
an interesting new field of business activity has opened up for this 
technology enterprise.
In line with the positive level of incoming orders, the order 
portfolio of the Hoeft & Wessel Group had increased to EUR 80.7 
million as at 30 September 2010 (31 December 2009: EUR 74.4 million).
The bottlenecks pertaining to electronic components occurring 
worldwide subsequent to the economic crisis led to deferments in 
delivery and thus sales revenues from the third into the fourth 
quarter of 2010 at the Hoeft & Wessel Group. During the third 
quarter, sales decreased by 12 per cent, to EUR 20.9 million 
(Q3 2009: EUR 23.9 million). During the initial three quarters of the
year, sales totalled EUR 60.1 million and were thus down 15 per cent 
year-on- year (30 September 2009: EUR 71.0 million).
Amongst other activities, the technology enterprise commenced with 
deliveries of ticketing systems to public transport companies in 
Hamburg, Rostock and Berlin. A completely new solar-operated 
automatic ticketing machine was developed for Geneva. The 
installation of 1,000 automatic parking ticket machines was 
successfully completed within the U.S. metropolis of Philadelphia. 
Mobile terminals were delivered to the Netto Marken-Discount, Rewe 
and Lekkerland enterprises.
A marked increase in sales is anticipated by the Hoeft & Wessel Group
for the current fourth quarter, resulting in a forecast of a slight 
increase in turnover for the year 2010 as a whole.
It is the view of Hoeft & Wessel that the cyclical market for 
electronic components will normalise again. As a result of its 
representative office in Taiwan established in September 2010, the 
company is also in a position to utilise the strategic advantage of 
local presence in order further to optimise purchases and also to 
respond to market fluctuations even more rapidly in the future.
Temporary currency effects resulted in negative earnings before 
interest and taxes (EBIT) of -EUR 0.8 million as at 30 September 2010
(2009: EUR 2.3 million). However, the merely reporting date based 
currency effects to the amount of -EUR 1.0 million (preceding year: 
+EUR 0.1 million) will lead to reversed effects over the next several
months upon completion of the hedging transactions concluded for 
incoming orders in foreign currencies. These effects and the forecast
increase in sales during the fourth quarter are already leading to 
marked improvements in earnings during the current fourth quarter. 
However, total EBIT figures for 2010 as a whole will be lower 
year-on-year since a portion of these currency effects will have a 
positive impact on the operating result in 2011.
The Hoeft & Wessel Group has been able to boost its net liquidity 
considerably this year. The operating cash flow also continued its 
positive trend in the third quarter, permitting its significant 
increase to a record level of EUR 5.8 million as at 30 September 2010
(preceding year: -EUR 1.3 million). Loans were paid off using the 
generated funding, and a dividend was paid out to shareholders for 
the first time in the history of the company, something that is also 
to be proposed for the current financial year.
The Hoeft & Wessel Group forecasts a further increase in sales 
revenues and earnings for 2011 on the basis of the excellent level of
orders.
"Our future prospects look very promising: the order situation is 
excellent, and the commenced internationalisation facilitates growth 
within new markets," says Hoeft & Wessel Group CEO Hansjoachim Oehmen
in summarising the company´s business trends.
Key figures for the Hoeft & Wessel Group as at 30 September 2010
in EUR thousands          30/09/10   30/09/09   30/09/08   30/09/07  
30/09/06 ------------------------------------------------------------
------------------ Sales revenues              60,057     71,037     
70,031     68,416     50,925 Operating result before 
depreciation/amortisation
(EBITDA)                     2,749      5,638      5,480      5,082        850
Operating result (EBIT)      (799)      2,325      2,088      1,562    (2,748)
   in % of sales revenues        -        3.3        3.0        2.3          -
Earnings before taxes(EBT) (1,454)      1,618      1,002        525    (3,287)
   in % of sales revenues        -        2.3        1.4        0.8          -
Group earnings             (1,481)      1,120        863        409    (3,178)
Earnings per share(in EUR)  (0.17)       0.13       0.10       0.05     (0.38)
Cash flow from current
operating activities        5,756     (1,258)    (1,839)      2,693      1,087
Cash flow from investment
activities                (3,194)     (3,391)    (3,536)    (3,566)    (3,642)
Net cash flow             (1,502)       (217)    (1,264)        106    (1,428)
Average number of employees   499         502        507        503        506
Nine-month report for 2010 and additional reports: http://www.hoeft-
wessel.com/de/aktie/index.htm
Press folder, including photographs:
http://www.presseportal.de/pm/12945/hoeft_wessel_ag/
About the Company
The Hoeft & Wessel Group is the leading German IT and engineering technology
group for ticketing, parking and mobile solutions. Established in 1978 by the
two entrepreneurs of the same name, the Group today generates sales revenues of
nearly EUR 100 million with a workforce of 500 employees. It has been listed on
the stock market since 1998 (ISIN DE0006011000). Its headquarters are in
Hanover, Germany, and Swindon, UK, west of London.
The annual investment volume in the Research & Development division, which sets
the pace in the Group´s technological orientation and employs more than a third
of the total workforce, amounts to approximately 10 per cent in terms of
turnover.
In Europe, the Almex division is among the leading providers of 
ticketing and telematics systems for public transport and check-in 
solutions for the airline industry.
The British subsidiary Metric Parking is one of the largest global 
providers of car park ticket vending machines, parking space 
management systems as well as comprehensive services.
As one of Europe´s largest manufacturers, the Skeye division provides
a wide range of mobile terminals, e.g. for retail and logistics, as 
well as point-of- sale solutions. Skeye is the market leader in 
Germany´s retail sector.
end of announcement                               euro adhoc

Further inquiry note:

Arnd Fritzemeier
Tel.: +49-511-6102-300
E-Mail: PR@hoeft-wessel.com

Branche: Technology
ISIN: DE0006011000
WKN: 601100
Index: TecDAX, Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade

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