PUBLICATION OF INSIDER INFORMATION IN ACCORDANCE WITH ARTICLE 17 MAR

HWA AG: No development contract for the Mercedes-AMG GT3 programme and delayed development projects

Affalterbach, 17 April 2024 - Following negotiations with Mercedes-AMG GmbH in recent months, the company has come to the conclusion that HWA AG will not implement the development of a Mercedes-AMG GT3 successor as in the past. Furthermore, development and production projects announced and planned for 2024 have been delayed. Due to these issues, the Management Board of HWA AG expects a significant negative impact on business development in the current 2024 financial year and thus also on the company's key financial figures.

 A concrete sales and earnings forecast for the current 2024 financial year cannot yet be made.

The sales and operating result (EBIT) forecast for the 2023 financial year is not significantly affected by the absence of the follow-up order from Mercedes-AMG GmbH. The Executive Board will now endeavour to achieve further cost savings in the short term and continue to push ahead with the implementation of projects with customers other than Mercedes-AMG GmbH, even if the Executive Board does not expect to be able to compensate for the absence of the Mercedes-AMG GT3 development and delays in the other projects in the short term.

The after-sales business in Mercedes-AMG customer sport is not affected by the failure to commission HWA AG for a Mercedes-AMG GT3 successor. The two companies are currently in talks about a new model for the future cooperation between HWA AG and Mercedes-AMG GmbH with regard to the customer sport programme.

  

Contact
Investor Relations
HWA AG
Marc Schimmelpfennig
Benzstraße 8
71563 Affalterbach
Phone: + 49/ (0) 7144/ 8717- 279
Fax: + 49/ (0) 7144/ 8718- 111
ir@hwaag.com
www.hwaag.com

About 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 around 270 highly-qualified members of staff. HWA AG offers all its products and services under the corporate slogan 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.