Affalterbach, 20 September 2013 – HWA AG posted a healthy profit of EUR 2.1 million before interest and taxes (EBIT) for the first six months of 2013. Net profit increased to EUR 1.5 million, or 29 euro cents per share. Sales revenues for the period were EUR 29.4 million.
As expected, this was slightly lower than revenues in the first six months of 2012, but EBIT remained at the same respectable level. Other earnings indicators were also at similar levels to the same period last year. Both business activities – motor racing and vehicles and vehicle components alike – lived up to Management Board expectations, and first-half performance overall was in line with budget.
Vehicles and Vehicles Components business in the first half of 2013 was very satisfactory. Sales of the Mercedes-Benz SLS AMG GT3 were up compared with the first half of 2012. Other projects in this business also contributed to growth. Similarly, there was steady demand for the leasing and sale of Formula 3 engines. In the motor racing business, all manufacturers competing in the DTM series are committed to further reductions in costs. This year no new vehicles will be constructed for the series, and for the current racing season the number of cars supported has been reduced from eight to six. Revenues in this area are correspondingly reduced.
Against this background, revenues in the motor racing business will also be down for 2013 as a whole. In the vehicles and vehicles components business the prospects continue to be very promising. On the basis of a study, HWA AG is developing a customer motorsport project – the CLA 45 AMG Racing Series. Like the SLS AMG GT3 before it, the CLA 45 AMG Racing Series has been developed and produced in close cooperation with Mercedes-AMG, and will increase the presence of HWA AG and Mercedes-AMG in customer motorsport. The new customer motorsport concept celebrated its world premiere at this year’s Frankfurt motor show.HWA AG is also working hard to secure additional development projects.
HWA AG is optimistic about the second half of 2013 and confident that for the full year the results will remain at the same level as in 2012.
HWA AG was founded in 1998 as a spin-off from AMG, which was established in 1967 by Hans Werner Aufrecht as the Mercedes Benz customisation specialist. Towards the end of 1998 Aufrecht sold a majority interest in AMG Motoren- und Entwicklungsgesellschaft mbH, as it then was, to Daimler AG. In the process of disposal, motor racing – what is today the AMG-Mercedes team in the German Touring Car Championship (DTM) – and parts of the vehicles and vehicles components business were spun off and transferred to HWA AG. In the motor racing business, HWA AG acts as a full service provider to Daimler AG Motorsport in the DTM. It is responsible for the whole process of development and construction of the racing cars, including the engines, together with all other activities involved in the racing team’s operations. In its vehicles and vehicles components business, it develops and builds cars and vehicle components for the automobile industry. Since 2003 HWA AG has been producing and servicing racing engines for the Formula 3 Euroseries and the British Formula 3 Series.