Disclosure of Inside Information pursuant to Article 17 MAR
Apr 17, 2024
In addition, development and production projects that had been announced and planned for 2024 are experiencing delays. As a result of these developments, the Management Board of HWA AG expects significant negative effects on the Company's business performance in the current 2024 financial year and, consequently, on its financial key figures.
At present, it is not yet possible to provide a specific revenue and earnings forecast for the 2024 financial year.
The revenue and operating earnings (EBIT) forecast for the 2023 financial year is not materially affected by the absence of a follow-up contract from Mercedes-AMG GmbH. The Management Board will now seek to implement additional cost-saving measures in the short term and further accelerate the acquisition and execution of projects with customers other than Mercedes-AMG GmbH.
However, the Management Board does not expect that the loss of the Mercedes-AMG GT3 development contract and the delays in other projects can be fully compensated in the short term.
The Mercedes-AMG Customer Racing aftersales business is not affected by HWA AG not being commissioned for a successor to the Mercedes-AMG GT3. Both companies are currently in discussions regarding a revised future cooperation model for the Customer Racing program between HWA AG and Mercedes-AMG GmbH.
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 currently 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. The 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.