Disclosure of Inside Information pursuant to Article 17 MAR
Mar 09, 2021
Most recently, at the end of September 2020, HWA AG had announced that a detailed forecast was no longer possible, but that it remained the Company’s objective to improve earnings compared to 2019.
In what is otherwise typically a strong fourth quarter, the Vehicles/Vehicle Components growth segment remained consistently weak. In addition, project business developed significantly below expectations. The lockdown in Germany from November and December onwards did not materially alter this situation, despite HWA AG having identified it as the most significant risk factor in its 2020 Half-Year Report.
The substantial consequences of COVID-19 and the non-realization of planned projects in 2020 are expected to result in negative EBIT of approximately EUR 10.6 million in the consolidated financial statements. Revenue is expected to amount to approximately EUR 66.0 million.
For 2021, the Management Board expects a recovery in business performance, with revenue growth compared to the previous year and at least a slightly positive EBIT.
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 300 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.