DGAP-News: HWA AG back on track for success
(firmenpresse) - DGAP-News: HWA AG / Key word(s): Final Results/Dividend
HWA AG back on track for success
11.04.2011 / 20:05
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HWA AG back on track for success
Affalterbach, 11 April 2011 - 'In the past year HWA AG has made a comeback
- both in business as well as in sporting terms,' says Gerhard Unger,
member of HWA AG's Management Board. After two hard years of cost savings
and lay-offs, HWA AG finished financial 2010 in profit, despite a drop in
sales.
As forecast, sales in the motor racing business were down. The technical
regulations meant that no technical improvements or new developments of DTM
race cars were permitted. Budgets had to be adjusted accordingly. In the
vehicles and vehicle components business the SL 65 AMG Black Series project
came to an end - as planned. The successor project is the customer sports
vehicle SLS GT3, which in cooperation with Mercedes-AMG; is being delivered
since March 2011. The leasing and sale of Formula 3 engines is proceeding
as planned.
The ending of production of the SL 65 AMG Black Series meant that material
expenses dropped considerably and - combined with the positive effects of
restructuring and cost savings -meant that in financial 2010 HWA AG was
back in the black again despite lower sales.
With profitability restored, HWA AG can look back positively on 2010. The
Company was not only successful in business terms, but also had successes
in the German Touring Car Masters Championship (DTM) to report. Paul di
Resta was crowned DTM Champion for 2010, while Gary Paffett and Bruno
Spengler came in second and third in the Driver's Championship. We also
won the Team Championship.
HWA AG's audited results for 2010 show revenues of EUR 44.9 million and
EBIT of EUR 4.1 million. The net earnings came to EUR 2.5 million.
After two years without dividends, the Management Board is happy to be able
to propose the payment of a dividend of EUR 0.50 per share to the
shareholders.
Gerhard Unger: 'The aim is now to ensure that we can maintain the success
we have achieved in the long run, while continuing to invest in research
and the development of competitive products for our customers.'
Dates to note:
23 May 2011 Annual General Meeting of HWA AG in Affalterbach
30 August 2011 Publication of half-yearly report 2011
Contact:
Investor Relations
HWA AG
Benzstraße 8
71563 Affalterbach
Phone: + 49/ (0) 7144/ 8717- 279
Fax: + 49/ (0) 7144/ 8718- 111
ir(at)hwaag.com
www.hwaag.com
Company profile HWA AG:
HWA AG was founded in 1998 as a spin-off from AMG, which was established in
1967 by Hans Werner Aufrecht as the Mercedes-Benz customisation specialist.
Towards the end of 1998 Aufrecht sold a majority interest in AMG Motoren-
und Entwicklungsgesellschaft mbH, as it then was, to Daimler AG. In the
course of the disposal, motor racing, what is today the AMG-Mercedes team
in the German Touring Car Championship (DTM) and parts of the vehicles and
components business was spun off and transferred to HWA AG. In the motor
racing business, HWA AG acts as a full service provider to Daimler AG
Motorsport in the DTM. It is responsible for the whole process of
development and construction of the racing cars, including the motors,
together with all other activities involved in the racing team's
operations. In its vehicles and components business, it develops and builds
cars and vehicle components for the automobile industry. Since 2003 HWA AG
has been producing and servicing racing engines for the Formula 3
Euroseries and the British Formula 3 Series.
End of Corporate News
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11.04.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: HWA AG
Benzstraße 8
71563 Affalterbach
Deutschland
Phone: +49 (0)7144 87 17-279
Fax: +49 (0)7144 87 18-111
E-mail: ir(at)hwaag.com
Internet: http://www.hwaag.com
ISIN: DE000A0LR4P1
WKN: A0LR4P
Listed: Freiverkehr in Berlin, Düsseldorf, München, Stuttgart;
Entry Standard in Frankfurt
End of News DGAP News-Service
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119385 11.04.2011
Datum: 11.04.2011 - 20:05 Uhr
Sprache: Deutsch
News-ID 33756
Anzahl Zeichen: 0
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Kategorie:
Business News
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