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Affalterbach, 20 April 2022 - HWA AG has achieved its goal of returning to profitability in 2021. After the company suffered considerably in 2020 due to the coronavirus pandemic, combined with a significant decline in sales as well as a clearly negative result, the picture turned positive last year. Overall, HWA AG achieved a turnover of 85.8 million euros in 2021 after 65.6 million euros in the previous year. EBIT was plus 1.2 million euros after a minus of 10.6 million euros in the previous year. After taxes and interest, in 2021 the Group achieved a profit of over 0.6 million euros. In the previous year, the loss was more than eleven million euros. The massive improvement on the earnings side is primarily also due to the effectiveness of the cost and efficiency programme, which was intensified in 2021. The previously negative operating cash flow of 2.5 million euros was reported positively in 2021 at just under 7 million euros. The equity capital rose from 18.1 to 19.1 million euros. The equity ratio in the Group was improved from over 26 to more than 32 percent.

HWA AG continues to drive forward development in the field of advanced and sustainable mobility. When it comes to international motorsport and the production of exclusive sports cars, the engineering company from Affalterbach has been renowned for innovation and environmental awareness for a long time. In cooperation with Knaus Tabbert AG, HWA AG is now applying its knowledge to the market segment for regular road vehicles. At the Caravan Salon in Düsseldorf, the public was given its first glamps of the new joint project - the electric KNAUS E.POWER DRIVE.

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HWA RACELAB triumphed for the first time in this season's FIA Formula 3 Championship at the Hungaroring. Matteo Nannini (Italy) produced a commanding display to win the second of the weekend's three races - the first Formula 3 victory of his young career. This success came as a welcome relief for the team from Affalterbach, which had twice been denied a possible victory this season.

• HWA RACELAB claims its first win of the season in the FIA Formula 3 Championship  
• Matteo Nannini: "This race showed our full potential."
• Thomas Strick: "This victory was the reward for a perfect performance from the driver and the team."

HWA RACELAB goes into the coming races in the FIA Formula 2 Championship with a new driver line-up. Jack Aitken will be at the wheel of the number 22 car at the two Grand Prix events in Monaco (20th to 22nd May) and Baku (4th to 6th June). The Formula 1 reserve driver for Williams Racing takes the place of Matteo Nannini, who will focus on his outings in FIA Formula 3 for the rest of the season.   

The third driver has now also been confirmed. Oliver Rasmussen (Denmark) will race alongside Matteo Nannini (Italy) and Rafael Villagomez (Mexico) for HWA RACELAB in the 2021 FIA Formula 3 Championship. The 20-year-old joins the team after an impressive season in the Formula Regional European Championship and has already driven the HWA RACELAB car. 

• Oliver Rasmussen: “Participating in FIA Formula 3 is a milestone in my career. Together with HWA we will do our best to be competitive.”
• Thomas Strick: “Oliver has shown that he has the potential to produce top performances at the high level of FIA Formula 3.”

The second of the three drivers for the 2021 season of the FIA Formula 3 Championship has been confirmed: HWA RACELAB is putting its faith in the promising and talented Rafael Villagomez (Mexico) in the coming season of the junior racing series. The 19-year-old will make his debut in the series for the team from Affalterbach.

• Rafael Villagomez: “I am sure that I will learn a lot and that we will do a great job together!”
• Thomas Strick: “Rafael has shown that he has the drive you need to succeed in FIA Formula 3.”

Matteo Nannini (Italy) has been confirmed as the first driver to join HWA RACELAB, which lines up in FIAMatteo Nannini (Italy) has been confirmed as the first driver to join HWA RACELAB, which lines up in FIAFormula 3 in 2021. The 17-year-old arrives with one year of Formula 3 experience to his name. He recentlyattended the post-season tests in the FIA Formula 2 Championship for HWA RACELAB.