HWA AG aims to return to profit zone in 2021

Affalterbach, 30 April 2020 - HWA AG was hit with full force by the Corona pandemic in 2020. Accordingly, turnover slumped significantly and the net income was negative. Overall, the company achieved consolidated sales of 65.6 million euros compared to 113.6 million euros in the previous year. The negative EBIT was 10.6 million euros, after minus 8.9 million euros in 2019. The former expectations before the pandemic, which foresaw a decline in turnover but a positive EBIT, were clearly missed in 2020. After taxes and interest, the loss in 2020 was 11.3 million euros after 8.2 million euros in the previous year. In the reporting period, the operating cash flow was negative at 2.5 million euros after minus 3.7 million euros in the previous year. Cash flow from investing activities was 0.8 million euros after 5.4 million euros in the previous year. At the end of 2020, HWA AG had equity capital of 18.1 million euros in the Group. The Group's equity ratio is accordingly over 26 percent.

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HWA AG: Substantial COVID-19 impacts in 2020 - but positive outlook for 2021

Affalterbach, March 09, 2021 - HWA AG announces that after analyzing the preliminary figures in the context of the preparation of the consolidated financial statements 2020, the earnings target is again weaker than expected. Recently, HWA AG informed at the end of September 2020 that a detailed forecast was no longer possible, but that the goal was still to improve the result compared to 2019. In the overall strong closing quarter, the growth segment Vehicles/Vehicle Components in particular was generally weak. Project business also developed significantly below expectations. The lockdown in Germany since November or December made no difference to this situation, which HWA AG presented as the greatest risk factor in the 2020 half-year report. As a consequence of COVID-19 and unrealized projects in 2020, negative EBIT of approximately EUR -10.6 million will be recognized in the consolidated financial statements. Revenues are expected to amount to approximately EUR 66.0 million. For 2021, the Management Board expects a recovery in business performance with year-on-year growth in sales and at least slightly positive EBIT.

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HWA AG loses racing project in Formula E

Affalterbach, November 04, 2020 - HWA AG has been informed that Daimler AG will restructure its motor sport activities in the ABB FIA Formula E Championship racing series starting with the 8th season (beginning of October 2021), and that it will compete almost entirely from its own resources. The cooperation with HWA AG as service provider for the Mercedes-Benz EQ Formula E Team will thus end after the next season; smaller engineering service scopes will remain with HWA. The Executive Board of HWA AG will immediately examine the options for compensating this future revenue shortfall in the automobile racing sector. The decision of Daimler AG has nothing to do with the performance and performance of HWA AG in the ABB FIA Formula E Championship or its service quality in general. The cooperation with Daimler AG will continue unchanged in the area of cars / car components.

HWA AG publishes half-year report 2020

Affalterbach - October 27, 2020: HWA AG has published the report for the 1st half of 2020. The report can be found on the company's homepage in the Investor Relations / Financial Reports section. Regarding the correction of the targets for the year 2020, we refer to our ad hoc release dated September 24 of this year. Detailed information on the course of the first half of 2020, which was significantly affected by the COVID-19 pandemic, as well as the further prospects in the individual segments and expectations, can be found in the interim report as of the end of June 2020.

HWA AG Publishes Annual Figures 2019

Affalterbach, April 29, 2020 – In 2019, HWA AG achieved sales of €113.6 million, compared to €101.2 million in the previous year. EBIT was negative €8.4 million, down from positive €6.5 million in 2018. HWA AG generated a loss of €8.9 million after tax. One of the reasons for the significantly negative financial result was an extraordinary write-down of the investment in the joint venture VYNAMIC GmbH, which reduced the consolidated financial result by almost €4 million. Within the context of the joint venture and the activities of HWA AG for the DTM project 2019, HWA AG incurred costs which have not yet been compensated by the DTM partners. This is why, for the time being, the loss incurred by HWA AG through the DTM project is borne by HWA AG alone. The Board of Management of HWA AG is asserting claims for damages against the partners in the DTM project. No other negative effects from the DTM campaign are to be expected in 2020.

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HWA AG: Management Board resolves on capital increase with subscription rights of EUR 8 million

Affalterbach, 28 April 2020 - Based on the authorising resolution of the Annual General Meeting on 25 July 2018, the Management Board of HWA AG has resolved, with the approval of the Supervisory Board, to increase the share capital by up to EUR 800,000.00 from EUR 5,626,500.00 to up to EUR 6,426,500.00, making partial use of the authorised capital in accordance with article 4 (4) of the articles of incorporation, by issuing up to 800,000 new, no-par-value bearer shares with a nominal value of EUR 1.00 per share and entitlement to dividends from 1 January 2019 in exchange for cash contributions.

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HWA AG reports on the course of business in the 1st half-year 2019
  • Dynamic sales development in the 1st half-year 2019
  • Sales in 1st half-year above target and EBIT below target
  • Targets for 2019 are ambitious
  • Special devaluation burdens earnings in 2019
  • Cash capital increase of EUR 7.1 million implemented in the first half of the year
  • DTM commitment of R-Motorsport and HWA ends with the end of the 2019 season
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Vynamic GmbH a joint venture between AF Racing AG and HWA AG
  • Joint venture company Vynamic GmbH will develop and build Aston Martin DTM cars for use by R-Motorsport in the DTM and field them for the team
  • Primary aim: To tap into the market for racing cars and produce limited-edition sports cars
  • Vynamic – a strategic innovation partnership between AF Racing AG and HWA AG
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