Höft & Wessel AG

EANS-News: Hoeft & Wessel AG repositions itself

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
Subtitle: - Preliminary figures for 2012 better than expected
- New faces at the helm
- Partnership with Zollner Elektronik to be intensified

annual result

Hannover/Germany, 14/02/2013. (euro adhoc) - According to preliminary figures
for the year 2012 Hoeft & Wessel AG will achieve EUR 79.9 million (+ 2.5 %) in
sales revenues, more than expected, and the Company's operating result, at
-EUR 7.9 million (+ 19 %), will also be better than the figure forecast.

The preliminary business figures for 2012 also reflect the successes of the
restructuring initiated in mid-2012. Within the scope of a complex and
integrated programme, improvement potentials of over EUR 10 million were
identified and translated into more than 770 savings measures for realisation.
These had already been implemented to an extent of almost more than 60 per cent
at the end of 2012 and will be completed by mid-2013.

At the turn of the year Hoeft & Wessel AG concluded the restrictive phase of
its restructuring and entered the so-called constructive phase, which will be
drawing to a close in the summer of the current year.

Michael Hoeft resigned from the Board of Management as of 31/12/2012 and Rolf
Wessel from the Supervisory Board in December 2012. At the beginning of 2013 H
& W Holding GmbH handed over 24.9 per cent of its shares in Hoeft & Wessel AG
to a trustee.

At the beginning of 2013, Hoeft & Wessel for this reason largely completed its
reorientation that commenced early in 2012. The core business of this
technology enterprise is now handled by three processes defined as order
procurement, defining solutions, executing orders as well as supporting
services. By means of this optimisation of internal processes, Hoeft & Wessel
AG has further improved its orientation towards meeting customer needs.

As a result, it was possible to further simplify the organisation structure. In
future Rudolf Spiller will be in charge of the Company as a single member of
the Board. Spiller's contract was renewed until the end of 2014. Immediately
below the Board of Management, in future there will be a management level
comprising five Managers, who will be responsible for the operations of the
Company with a stock market listing. After the Board of Management had been
newly staffed in mid-2012, managerial positions in the top-level leadership
will also be replaced.

In order to continue expanding its competitive position even further, Hoeft &
Wessel AG requires support within the scope of the product origination process.
For this reason, the close and long-standing partnership with Zollner
Elektronik AG, a company with a global reach based in Zandt (Bavaria/Germany),
will be further extended. Thanks to the broadly based and diversified industry
positioning and large variety of technology solutions of this family
enterprise, Hoeft & Wessel AG stabilises a competent partnership. As a result,
objectives such as reduced production and delivery times as well as a further
improvement in quality can be achieved on an optimum and sustainable basis.

With its successful restructuring programme, the forward-looking reorientation
as well as the new leadership structure and team, Hoeft & Wessel AG now
perceives good prospects of achieving the business turnaround in 2013 and being
able to finalise a long-term refinancing concept.

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

end of announcement                               euro adhoc 

company:     Höft & Wessel AG
             Rotenburger Str.  20
             D-30659 Hannover
phone:       +49-511-6102-0
FAX:         +49-511-6102-411
mail:     ir@hoeft-wessel.com
WWW:      http://www.hoeft-wessel.com
sector:      Technology
ISIN:        DE0006011000
indexes:     Prime All Share, Technology All Share
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
             Stuttgart, regulated dealing/prime standard: Frankfurt 
language:   English

Weitere Meldungen: Höft & Wessel AG

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