METRIC mobility solutions AG
Hoeft & Wessel AG gets off to a weak start to 2014
Höft & Wessel AG / Key word(s): Quarter Results – Systematic continuation of the consolidation course in 2014 Hannover/ Germany, 06/05/2014. Hoeft & Wessel AG entered 2014 on a weak note. In the first quarter of 2014, sales revenues of the Hannover-based technology company were down by 24 percent year-on-year to EUR 11.7 million (2013: EUR 15.5 million) due to insufficient order intake and delays in legacy projects from previous years not yet completed. The relatively low sales revenues in the first quarter of 2014 led to a negative operating result (EBIT) of -EUR 3.9 million (2013: -EUR 0.7 million). With an order intake coming to EUR 12.4 million in the first quarter of 2014 compared with EUR 15.9 million in the previous year, project business fell short of expectations. In the first quarter of 2014, the Hoeft & Wessel Group supplied ticketing systems to the Danish State Railways, Deutsche Bahn and FirstGroup, among other things. Mobile terminal data capturing devices for merchandise management systems were ordered by German retail chains Rewe and Edeka. The subsidiary Metric delivered car park terminals to Mexico for the first time. In the first three months of 2014, the Hoeft & Wessel Group’s order backlog rose slightly to EUR 40.6 million (31.12.2013: EUR 40.1 million). Sales efforts with focus on international activities are to be intensified substantially in view of the unsatisfactory overall business performance. CEO Rudolf Spiller has declared that top priority is to be given to sales and customer orientation. In addition, Thomas Dibbern will be joining the Hoeft & Wessel Group’s Board of Management from 1 July 2014. Thomas Dibbern (44) studied economics and political science in Berlin, worked for several years abroad and has gained extensive sales and sector experience in management positions, most recently with an internationally active mid-size company in a similar line of business to the Hoeft & Wessel Group. In addition, the company, which is a member of the Droege Group, will be focusing on improvements to processes with the aim of achieving further positive customer benefits and executing legacy projects, thus systematically continuing the consolidation process in 2014. After a weak first quarter, the Hoeft & Wessel Group expects business to pick up in the fourth quarter of 2014 as a result of the reinforcement of sales activities. The technology company now expects full-year sales revenues to be down on the previous year in 2014. Despite the risks from the execution of legacy projects the company anticipates a slightly positive operating result (EBIT). To Quarterly Report 2014: http://www.hoeft-wessel.com/en/investor-relations/financial-reports/ Contact: Hoeft & Wessel AG Dr. Arnd Fritzemeier +49 511 6102-300 PR@hoeft-wessel.com End of Corporate News 06.05.2014 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | Höft & Wessel AG | |
Rotenburger Str. 20 | ||
30659 Hannover | ||
Germany | ||
Phone: | +49 (0)511-6102-0 | |
Fax: | +49 (0)511-6102-411 | |
E-mail: | info@hoeft-wessel.com | |
Internet: | www.hoeft-wessel.com | |
ISIN: | DE000A1X3X66 | |
WKN: | A1X3X6 | |
Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart | |
End of News | DGAP News-Service |
266557 06.05.2014 |