EANS-News: Hoeft & Wessel achieved EUR 88 million in turnover in 2011
30.03.2012 – 08:11
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Financial Figures/Balance Sheet Subtitle: - Ticketing solutions account for half the volume of business - Parking reflects stable trends - Sales of mobile terminals at same level - Operating result substiantially in negative territory Hannover/Germany, 30/03/2012. (euro adhoc) - Preliminary figures show that in 2011, the Hoeft & Wessel Group recorded sales revenues down by roughly 7 per cent year-on-year. More than half the turnover of EUR 88.4 million was achieved with ticketing solutions for public passenger transport last year. A quarter was attributable to each of Parking and Mobile Solutions. With a share of total sales equivalent to 42 per cent, Germany remained the key business region, followed by the United Kingdom with 22 per cent and Switzerland with more than 10 per cent. Via partner enterprises and subsidiaries, Hoeft & Wessel is also represented in other western European countries as well as in the U.S. or South Africa, for instance. Lower sales revenues and higher project costs led to a reduction in the operating result before depreciation and amortisation (EBITDA) in 2011, to EUR 1.0 million (2010: EUR 8.0 million). The operating result before special write-downs amounted to -EUR 3.3 million. Regarding the revaluation of the Skeye segment, the non-recurring write-down was specified at EUR 7.6 million, which meant that the operating result (EBIT) for fiscal 2011 turned out substantially negative at -EUR 10.9 million (2010: EUR 2.9 million). The revaluation will create the preconditions in accounting terms for improved business results in future. Despite the negative result, the Hoeft & Wessel Group´s liquidity was adequate. According to the preliminary figures, operating cash flow was positive at EUR 0.6 million, even though it did not match the good value of the previous year (2010: EUR 7.8 million). In the field of ticketing systems of the Almex brand, Hoeft & Wessel has developed into one of the leading providers in Europe. Despite a decline in sales revenues to EUR 45.1 million in fiscal 2011 as a whole, the Company perceives itself as being well positioned in this business segment (2010: EUR 50.1 million). In the United Kingdom in particular, it was possible to expand the good market position in 2011 with the award of a large-scale contract by the FirstGroup for a completely new e-Ticketing system for buses. As part of this order, as many as 800 on-board computers were already delivered and installed last year. From end-2012, passengers in the United Kingdom will then even be able to use their credit cards as tickets. This new e-Ticketing solution based on NFC (Near-Field Communication) will be realised in the UK for the first time and has already attracted interest throughout Europe. In addition, it was possible to gain a foothold in the market for stationary ticketing solutions in the United Kingdom last year. The DACH region, comprising Germany, Austria and Switzerland, remained the strongest sales market for Hoeft & Wessel in 2011. Amongst the most outstanding projects was the development mandate awarded by the Swiss Federal Railways (Schweizerische Bundesbahnen) for an innovative mobile communications solution for shunting and construction operations based on the GSM-Rail communications technology. In 2011, ticket vending machines were delivered to the metro S-Bahn Berlin and to German Rail (Deutsche Bahn). At the UK subsidiary Metric, a manufacturer of car park terminals with international renown, sales revenues in 2011 declined to EUR 21.4 million (previous year: EUR 23.4 million). This was essentially due to lower revenues in the key U.S. market and the weak exchange rate of the pound sterling at the balance sheet date. In its home market in the UK, Metric succeeded in winning most public tenders last year, enabling it to consolidate its leading market position. The market launch of a further developed car park terminal in 2011 was successful. The new terminal now offers all payment options, from cash all the way through to contactless with credit cards. In 2011, a new partner was found in South Africa, who has already ordered terminals of the new type. Business trends with mobile terminals of the Skeye brand proceeded on the same level in 2011 as in the previous year. Sales revenues generated came to EUR 21.9 million (previous year: EUR 22.1 million). In regional terms, the primary focus was on the DACH area. In the fields of retail and logistics, data capture devices were supplied to customers like Rewe, Edeka and the Swiss Post (Schweizerische Post). Hoeft & Wessel AG will be publishing its Annual Report for fiscal 2011 on 30 April 2012. Press kit with photos: http://www.presseportal.de/pm/12945/hoeft_wessel_ag/ The Company The Hoeft & Wessel Group is the leading IT and engineering technology Group for ticketing, parking and mobile solutions in Germany and Great Britain. Established in 1978 by the two entrepreneurs who gave the company its name, the enterprise has developed into a group of companies with sales revenues of approx. EUR 90 million and a workforce of 500 employees. Its main locations are Hannover, Germany, and Swindon, UK, to the west of London. 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