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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HWA AG exceeds targets for 2017

Affalterbach, 26 April 2018 – HWA AG slightly exceeded its own expectations for 2017. The forecasts had specified a total operating performance of between EUR 80 million and EUR 85 million and an EBIT margin of around 2.5%. In 2017, the total operating performance reached a level of EUR 97.5 million after EUR 100.4 million in the previous year. The anticipated decline in the total operating performance was therefore less substantial than expected. At EUR 97.5 million, sales stabilised at around the previous year’s level of EUR 97.4 million. As expected, HWA AG managed to return to profitability in 2017. EBIT increased significantly from EUR 0.2 million to EUR 2.8 million in 2017. The EBIT margin was slightly higher than expected at 2.9%. Net profit improved significantly from EUR 0.3 million to EUR 1.4 million. After a disappointing 2016, the development of the figures in 2017 was encouraging overall.

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