SOURCE: Höft & Wessel AG

August 06, 2009 13:16 ET

Hoeft & Wessel AG remains on growth track in first half of the year

HANNOVER, GERMANY--(Marketwire - August 6, 2009) -


Sales revenues increase by 11 per cent, operating result by 67 per cent Positive business outlook for 2009

Hanover / Germany, 6 August 2009. Following a successful first quarter, Hoeft & Wessel AG continued its positive business trend in the second quarter of fiscal 2009. In the first six months of the year, sales revenues of the German IT and engineering group increased by 11 per cent, to reach EUR 47.1 million (previous year: EUR 42.5 million).

The operating result rose by 67 per cent year-on-year, to EUR 1.6 million (30 June 2008: EUR 0.9 million).

A large-scale order placed in the U.S. made a significant contribution to the order intake for the first six months of 2009, amounting to EUR 44.0 million (previous year: EUR 44.1 million). The order portfolio in mid-2009 came to EUR 85.1 million (30 June 2008: EUR 117.5 million).

"The business of the Hoeft & Wessel Group developed positively in the first half of the year. Accordingly, we believe this confirms our favourable forecast for 2009 as a whole and that we will successfully continue to defy the extremely bleak economic environment," said Hansjoachim Oehmen, CEO of Hoeft & Wessel AG, in commenting on business trends.

For 2009, Hoeft & Wessel AG expects sales revenues of more than EUR 98 million and operating result in excess of EUR 4 million.

Hoeft & Wessel AG combines wireless data communication technologies with software and hardware for the construction of mobile terminals, stationary terminals for check-ins and checkouts, ticketing systems, car park ticket terminals and point-of-sale solutions. The devices feature easy, intuitive operation and have achieved a reputation for high stability and constant availability.

Almex and its products are targeted at the public transport segment and the airline industry. In the first half of the year, the business division supplied ticketing terminals to public transport corporations in Denmark, Germany, the United Kingdom and Switzerland. Deutsche Lufthansa took delivery of new check-in terminals. Sales revenues and the operating result saw a substantial rise in the Almex division in the first half of the year.

The Skeye division defied the ongoing trend of investment reluctance in the retail and logistics sectors of relevance to its products. Even though sales revenues and the operating result were in decline in the first six months of the year, this business division succeeded in defending its leading position in the market. In the first half of the year, the U.S. restaurant chain Outback Steakhouse took delivery of mobile terminals for placing orders and making payments. Mobile terminals for deployment in merchandise management systems were delivered to the retail chains Edeka, Rewe and Rossmann.

Metric and its parking space management systems are generally targeted at local municipalities. In the first half of 2009, an increasing number of orders were placed with Metric in the UK for car park ticket terminals. The London borough of Hillingdon received over 170 terminals equipped with RFID technology. In the U.S. city of Philadelphia, Pennsylvania, the first of a total of more than 1,000 car park ticket terminals were set up and connected to the back-office system that had also been installed. Sales revenues and the operating result of the British subsidiary, Metric, reflect the positive trend unfolding this year.

Via Almex, Metric and Skeye, Hoeft & Wessel has been active with this largely independent business segments in various markets for years. However, a series of synergistic benefits can still be generated in research and development activities. These three business mainstays substantially reduce dependence on individual market segments particularly in difficult economic conditions. With this strategy, Hoeft & Wessel AG considers itself to be well positioned for continued long-term business success throughout the entire Group.

Key figures for the Hoeft & Wessel Group half-year in EUR thousands to the 30/06 2009 2008 2007 2006 2005

+-------------------------------------------------------------------+
| Sales revenues  |  47,104 |  42,502 |  42,536 |  38,795 |  38,136 |
|-----------------+---------+---------+---------+---------+---------|
| Operating       |         |         |         |         |         |
| result before   |         |         |         |         |         |
| depreciation    |         |         |         |         |         |
| and             |         |         |         |         |         |
|-----------------+---------+---------+---------+---------+---------|
| amortisation    |   3,833 |   3,216 |   2,653 |   2,471 |   3,316 |
| (EBITDA)        |         |         |         |         |         |
|-----------------+---------+---------+---------+---------+---------|
| Operating       |   1,569 |     941 |     312 |      89 |   1,068 |
| result (EBIT)   |         |         |         |         |         |
|-----------------+---------+---------+---------+---------+---------|
| in % of sales   |     3.3 |     2.2 |     0.7 |     0.2 |     2.8 |
| revenues        |         |         |         |         |         |
|-----------------+---------+---------+---------+---------+---------|
| Earnings before |   1,108 |     231 |   (347) |   (222) |     723 |
| taxes (EBT)     |         |         |         |         |         |
|-----------------+---------+---------+---------+---------+---------|
| in % of sales   |     2.4 |     0.6 |       - |       - |     1.9 |
| revenues        |         |         |         |         |         |
|-----------------+---------+---------+---------+---------+---------|
| Group earnings  |     741 |     174 |   (511) |    (90) |     743 |
|-----------------+---------+---------+---------+---------+---------|
| Earnings per    |    0.09 |    0.02 |  (0.06) |  (0.06) |    0.09 |
| share (in EUR)  |         |         |         |         |         |
|-----------------+---------+---------+---------+---------+---------|
|                 |         |         |         |         |         |
| Cash flow,      |         |         |         |         |         |
| current         |         | (2,353) |   (542) |   4,094 |   5,372 |
| operations      | (1,578) |         |         |         |         |
|-----------------+---------+---------+---------+---------+---------|
| Cash flow from  | (2,083) | (2,567) | (2,330) | (2,719) | (2,565) |
| investment      |         |         |         |         |         |
| activities      |         |         |         |         |         |
|-----------------+---------+---------+---------+---------+---------|
| Net cash flow   |   (278) |   (633) | (2,083) |   (201) |     290 |
|-----------------+---------+---------+---------+---------+---------|
|                 |         |         |         |         |         |
| Average number  |         |         |         |         |         |
| of employees    |         |         |         |         |         |
| Group           |     499 |     502 |     502 |     502 |     500 |
+-------------------------------------------------------------------+


Additional information: Hoeft & Wessel AG Dr. Arnd Fritzemeier, Head of Investor Relations and Public Relations, Rotenburger Strasse 20, D-30659 Hanover, Germany Tel. +49.511.6102-300 IR@hoeft-wessel.com Fax +49.511.6102-873 www.hoeft-wessel.com


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