Disclosure of Inside Information pursuant to Article 17 MAR
Jul 25, 2024
Irrespective of the further details relating to the transaction, Mercedes-AMG GmbH intends to continue engaging HWA in various areas in the future, including engine development, paintwork services and logistics services within the customer racing business. In addition, Mercedes-AMG GmbH has expressed a particularly positive view of HWA’s own EVO project.
The ongoing negotiations have no impact on HWA AG’s guidance for the 2024 financial year. Overall, the transaction is expected to significantly streamline HWA’s balance sheet. Furthermore, HWA AG would become completely debt-free.
From 2025 onwards, the resulting decline in revenue and earnings will need to be compensated by new customers and additional projects. In addition, HWA AG’s organizational structures will be adapted to meet the new requirements. The Management Board’s objective is for HWA AG to achieve sustainable profitability from 2025 onwards.
Contact:
Investor Relations
HWA AG
Marc Schimmelpfennig
Benzstraße 8
71563 Affalterbach
Germany
Phone: +49 (0) 7144 8717-279
Fax: +49 (0) 7144 8718-111
E-mail: ir@hwaag.com
Company Profile of HWA AG
HWA AG is an independent 360-degree engineering specialist in the fields of motorsport and high-performance vehicles. Founded in 1998 by Hans Werner Aufrecht, the company is headquartered in Affalterbach, Germany, and employs around 270 highly qualified professionals.
All products and services of HWA AG are guided by the principle ENGINEERING SPEED. The company’s mission is to develop the highest-quality and most effective solutions to help its partners and customers achieve their goals faster. HWA AG’s service portfolio ranges from the design and engineering of all vehicle components to the development and production of complete vehicles, complemented by logistics, aftersales and support services.