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Höft & Wessel AG

EANS-News: Hoeft & Wessel AG pays dividend for the first time

Hanover / Germany, 31 March 2010 (euro adhoc) -

Subsidiary Metric Parking accomplishes turnaround in 2009
  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
Financial Figures/Balance Sheet
Subtitle: Subsidiary Metric Parking accomplishes turnaround in 2009
...
- Operating result of EUR 3.1 million for 2009 exceeds expectations
- Positive business trends also anticipated for 2010 and 2011
- Targeted development of additional new markets
The Hoeft & Wessel Group plans to pay a dividend for the first time 
in the year 2010. Thanks to the solid business performance in 2009, 
the Board of Management and the Supervisory Board will propose at the
Annual General Meeting that a dividend of 8 cents per share be paid 
to the shareholders for the last financial year. This is equivalent 
to a payout ratio of about one third of net income generated by the 
Hoeft & Wessel Group.  In relation to the share price at the end of 
2009, this represents a dividend yield of 2.1 per cent. Efforts to 
distribute a dividend will be made in future, too, taking account of 
the capital requirements of the Group.
In spite of challenging general economic conditions, sales revenues 
of this IT hardware and software specialist in fiscal 2009, at 
EUR 94.1 million, were down slightly year-on-year (2008: EUR 98.1 
million) by 4.1 per cent. Adjusted for currency effects, sales 
revenues came to EUR 97.1 million, almost matching the previous 
year´s level.
The operating result (EBIT) of the Hoeft & Wessel Group, at EUR 3.1 
million in 2009, turned out slightly better than expected (previous 
year: -EUR 3.5 million due to amortisation of goodwill).
Corresponding to the good Group results, cash flow from ongoing 
operations rose substantially, to EUR 5.9 million (previous year: 
EUR 1.5 million).
A substantial contribution to the good performance in 2009 was made 
by the Almex division, which has developed into one of the leading 
providers of ticketing systems for public transport throughout 
Europe. At the same time, the British subsidiary Metric, specialised 
in parking space management systems, successfully accomplished a 
turnaround in 2009. The Skeye business division recorded a decline in
sales revenues that was typical for the Auto ID market segment.
In the 2009 financial year, the order intake was raised by 14 per 
cent, to a total volume of EUR 80.3 million (2008: EUR 70.4 million).
In 2009 the Hoeft & Wessel Group managed to acquire two large-scale 
orders. The Metric subsidiary was awarded a contract for the 
installation of more than 1,000 car park ticket vending machines in 
the American city of Philadelphia, Pennsylvania. The public transport
operations of the Swiss canton of Geneva opted in favour of Hoeft & 
Wessel´s Almex brand when they placed an order for 720 stationary 
ticket vending machines. Moreover, extensive full-service maintenance
contracts for mobile Skeye brand terminals were concluded with the 
retail organisation Rewe. Moreover, in renewing the full-service 
contract of London Bus, Metric succeeded in consolidating its 
services department.
For the year 2010, Hoeft & Wessel AG expects a slight increase both 
in sales revenues and the operating result. Assuming a further 
recovery of the global economy, the Company anticipates that its 
positive business trend forecast will continue in 2011.
"Our portfolio of solutions for public transport, parking, as well as
retail and logistics enables us to gain increasing significance 
abroad. The international trends in the direction of widespread 
automation, networking and urbanisation provide ideal requirements 
for further growth. This is why we will continue opening up new 
markets in a targeted fashion," explains Hansjoachim Oehmen, Chairman
of the Board of Management of Hoeft & Wessel AG, in explaining the 
Company´s future growth strategy.
Key figures for the Hoeft & Wessel Group
In  EUR thousands               2009       2008       2007       2006
2005 ----------------------------------------------------------------
---------------- Sales revenues                94,098     98,072     
99,704     73,959     84,660 Earnings before interest, taxes, 
depreciation/
amortisation (EBITDA)          7,569      9,591     11,294      3,685      9,219
Earnings before interest
and taxes (EBIT)               3,076     (3,545)     6,249     (1,102)     3,919
    in % of sales revenues      3.3%        n/a       6.3%        n/a       4.6%
Earnings before taxes (EBT)    2,081     (5,023)     4,727     (1,930)     3,136
    in % of sales revenues      2.2%        n/a       4.7%        n/a       3.7%
Group earnings                 1,854     (6,751)     4,401     (2,491)     2,443
Earnings per share (in EUR)     0.22      (0.79)      0.51      (0.29)      0.29
Cash flow from current
operating activities           5,933      1,456     12,180      4,703      7,035
Cash flow from
investment activities         (5,046)    (6,763)    (6,693)    (5,464)   (5,644)
Net cash flow                  1,901       (613)      (867)        46       701
Number of employees              503        502        513        528
518
Link to Annual Report 2009: http://www.hoeft-wessel.com/en/ir/ir.htm
Link to press kit with photos:
http://www.presseportal.de/pm/12945/hoeft_wessel_ag/
end of announcement                               euro adhoc

Further inquiry note:

Dr. Arnd Fritzemeier
Tel.: +49-511-6102-300
E-Mail: af@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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