New start with Droege Group at Höft&Wessel
(firmenpresse) - (DGAP-Media / 10.10.2013 / 09:04)
- Capital increase generates fresh capital
- Streamlining successfully concluded
- Auditor issues unqualified audit certificates
- Half-year results confirm forecast
Hannover, 10 October 2013. With the entry of Droege International Group AG,
Höft&Wessel AG has successfully concluded the streamlining programme
launched in 2012 and has begun a new start, generating sustainable,
positive business trends in the next several years. Since the capital
increase recently concluded, which yielded a total of about EUR 8.5 million
in fresh capital for the Company, Droege has been the new majority
shareholder of Höft&Wessel AG.
Droege International Group AG, headquartered in Düsseldorf, is a
consultancy and investment house. The family enterprise was founded by
Walter P. J. Droege in 1988. The hybrid business model of Droege Group
combines consultancy services with individually tailored restructuring and
growth programmes as well as equity investments in enterprises in 'special
situations'. The group of companies pursues long-term portfolio development
using buy-and-build strategies. A Group subsidiary is, inter alia, the
Swiss IT and logistics group ALSO Holding AG .
'Droege Group is the ideal majority partner for Höft&Wessel, who will be
proactively supporting the implementation of our growth strategy,' says
Rudolf Spiller, CEO of the Höft&Wessel Group, delighted with this
development.
Using the fresh funding sourced from the capital increase, the Höft&Wessel Group's equity and liquidity will be reinforced, and its
indebtedness will be capable of being reduced substantially to a present
level of EUR 8.5 million thanks to debt discharge and waiver by the
financers. The Company's continued existence as a going concern has
therefore been secured, and the auditor has issued unqualified audit
certificates for the annual financial statements for 2012 and 2011. The
annual financial statements for 2012 and 2011 as well as the quarterly
reports for 2013 have now been published.
Within the scope of a detailed strategy, Höft&Wessel plans to rely on the
megatrend mobility. The Company plans to further extend its market position
throughout Europe and in selected other countries as a producer of systems
for issuing, checking and processing tickets and for parking space
management as well as in the wholesale, retail and logistics segment for
mobile data capture. To this end, the prerequisites have been created in
the form of new organisational structures, corporate processes and a newly
staffed operational management level. The focus is on further intensifying
the degree of customer orientation. This is documented externally by the
customer-oriented motto 'Solution Partner for your Success'.
After two years of substantial losses, for the current financial year 2013
Höft&Wessel AG expects roughly EUR 82 million in sales revenues and an
operating result (EBIT) of more than EUR 1.0 million. As at the end of the
first half of 2013, the Company was on target with EUR 36.9 million in
sales revenues and an operating result amounting to -EUR 0.9 million before
restructuring expenses.
This is also reflected in the order intake, which rose to EUR 44.6 million
in the first six months of 2013 (2012: EUR 43.6 million). In the first half
of 2013, inter alia Berliner Verkehrsbetriebe (BVG) ordered morethan 800
stationary and mobile ticketing terminals as well as an associated
background system. The global market and technology leader in the dental
industry, Sirona, placed an order for approx. 15,000 radio adaptors and,
via a partner, an order was received for over 600 mobile ticketing
terminals for Slovakian Rail. As a result, the order portfolio increased by
a substantial 17 per cent compared with the end of 2012, to reach EUR 46.8
million.
Link to financial reports on Höft&Wessel website:
http://www.hoeft-wessel.com/en/investor-relations/financial-reports/
Contact:
Hoeft&Wessel AG
Dr. Arnd Fritzemeier
+49 511 6102-300
PR(at)hoeft-wessel.com
End of Media Release
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Issuer: Höft&Wessel AG
Key word(s): Enterprise
10.10.2013 Dissemination of a Press Release, 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
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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(at)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-Media
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234022 10.10.2013
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Datum: 10.10.2013 - 09:04 Uhr
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