DGAP-News: Hoeft&Wessel focuses on solutions in the Mobility sector (news with additional features)
(firmenpresse) - DGAP-News: Höft&Wessel AG / Key word(s): Strategic Company Decision
Hoeft&Wessel focuses on solutions in the Mobility sector (news with
additional features)
11.11.2013 / 16:31
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- New majority shareholder proactively supports growth strategy
- Large order portfolio and new customers
Hannover/Germany, 11/11/2013. The technology enterprise Hoeft&Wessel,
headquartered in Hannover and with a subsidiary in Swindon (UK) is focusing
on the worldwide mega-trend mobility. Global demographic development with
substantial population growth is leading to increased urbanisation and,
accordingly, to increased global demand for suitable solutions to manage
the rising volume of passenger, freight and service traffic. In addition,
the increasingly widespread digitalisation combined with the wish of each
individual for flexibility is boosting the tendency towards ever
intensifying networked mobility.
Hoeft&Wessel will reinforce its current portfolio of systems in line with
these demand patterns and gradually extend its range of services focusing
on mobility. The technology enterprise plans to further develop into a
solution provider for intramodal transportation of persons, merchandise,
and services. By concentrating on the validation, consolidation, settlement
and statistical evaluations of passenger, freight and service flows, the
company is targeting the transport, retail, logistics and service sectors.
This growth strategy is being proactively supported by the Droege Group as
the new majority shareholder. At a press conference, the members of the
Board of Management of Hoeft&Wessel AG and the Droege Group explained the
new strategy and the associated business objectives. In addition to organic
growth outperforming that of the market as a whole, the Board members
explained that inorganic growth was possible as well in order to allow the
portfolio of solutions available from Hoeft&Wessel AG to be geared even
better to the mega-trend of mobility.
Hoeft&Wessel AG can look back on a long tradition. Established in 1978 as
a start-up by the founders by the same name, the initially small enterprise
focused on the new trend in the direction of mobile data capture from the
very beginning. This was where the company managed to evolve into the
market leader for mobile data capture devices in the German retail food
trade. In the mid-1990s, its activities extended to include mobile capture,
checking and processing of public transport tickets. Hoeft&Wessel
developed the very first mobile ticketing terminal for German Rail, which
set benchmarks at the time. Finally, ticket vending and car park terminals
followed at the end of the 1990s. Moreover, the company made itself a good
name in developing special systems according to customer specifications.
In the 35th year of its corporate history, the company has now reached a
turning point. After two financial years of high losses, following the
successful conclusion of a far-reaching restructuring programme, Hoeft&Wessel expects to reach break-even point again this year, substantially in
positive earnings territory.
These expectations are underpinned by the recently released nine-month
figures, in particular with an increase in the order portfolio to just
under EUR 45 million and an order intake amounting to EUR 61.4 million. The
company recently managed to sign up a new customer of note, namely the
public transport corporation Berliner Verkehrsbetriebe (BVG). Thanks to the
capital increase concluded after the end of the third quarter, the
company's financial situation has improved significantly. As a result, in
mid-October the company benefited from an inflow of fresh capital amounting
to approx. EUR 8.5 million, and the Droege Group headquartered in
Düsseldorf became the new majority shareholder. The capital increase
facilitates the substantial debt reduction to EUR 8.5 million, a
reinforcement of equity and the start of a development offensive.
Improvements in terms of income are derived from the improvements in the
operating result thanks to the restructuring, amounting to more than EUR 12
million for the full year. Moreover, after the capital measures and the
restructuring programme were concluded in mid-October 2013 it was possible
to terminate the necessary consultancy mandates, which means that the
non-recurring expenditure impacting on the operating result will decline
substantially in the fourth quarter. For this reason, a further
improvement in the operating result (EBIT) is anticipated for the fourth
quarter. Furthermore, sales revenues are expected to exceed the previous
year's level.
For 2013 as a whole, the Hoeft&Wessel Group expects an operating result
(EBIT) of more than EUR 1 million on sales revenues of approx. EUR 82
million. For the year 2014, the company has forecast a further improvement
in the operating result and a further increase in sales revenues, which are
to grow organically to more than EUR 100 million by 2018.
'Hoeft&Wessel AG has emerged from the successfully concluded streamlining
in a strengthened position and will now initiate a growth phase with the
proactive support of its new majority shareholder, the Droege Group. In
doing so, we plan to focus on mobility and will take advantage of the
favourable trends prevailing worldwide,' says Rudolf Spiller, CEO of Hoeft&Wessel Group, delighted with the latest developments.
www.hoeft-wessel.com
Contact:
Hoeft&Wessel AG
Dr. Arnd Fritzemeier
+49 511 6102-300
PR(at)hoeft-wessel.com
End of Corporate News
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Additional features:
Picture: http://newsfeed2.equitystory.com/huw/239198.html
Subtitle: Rudolf Spiller, CEO Höft&Wessel AG, begrüßt/ welcomes
Walter P. J. Droege, Vorstand und Gründer/ CEO and founder Droege
International Group AG
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11.11.2013 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.
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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 News-Service
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239198 11.11.2013
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Datum: 11.11.2013 - 16:31 Uhr
Sprache: Deutsch
News-ID 314971
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