EANS-News: Hoeft & Wessel AG repositions itself
14.02.2013 – 09:03
-------------------------------------------------------------------------------- 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