Publication of inside information in accordance with Article 17 MAR

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.

Investor Relations
Marc Schimmelpfennig
Benzstraße 8
71563 Affalterbach
Phone: + 49/ (0) 7144/ 8717- 279
Fax: + 49/ (0) 7144/ 8718- 111


Corporate Profile HWA AG:
HWA AG is an independent, 360° engineering specialist in the fields of automobile racing and high-performance cars. Formed in 1998 by Hans Werner Aufrecht, the company is based in Affalterbach (Germany) and employs roughly 300 highly-qualified members of staff HWA AG offers all its products and services under the motto ENGINEERING SPEED: The company’s objective is to develop the best possible, high-quality solutions, in order to get its partners and customers to their destination quicker. The portfolio of services ranges from designing all vehicle components to assembling complete cars, together with the relevant logistics, after-sales and support services.