EANS-News: Hoeft & Wessel AG boosts sales revenues in the second quarter of 2010
Hanover/Germany, 05/08/2010. (euro adhoc) -
Order books well filled
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quarterly report
Subtitle: Order books well filled
High operating cash flow
During the second quarter of 2010, the Hoeft & Wessel Group generated EUR 23.2 million in sales revenues. Compared with the same period of the previous year, this represents a slight increase of 2.5 per cent (2009 Q2: EUR 22.6 million), and a marked increase by 46 per cent over the first quarter of this year (2010 Q1: EUR 15.9 million). This confirms the upward trend in business anticipated by the Hoeft & Wessel AG for 2010, with sales revenues increasing sequentially from quarter to quarter. For 2010 as a whole, the German IT and engineering Group for ticketing, parking and mobile solutions forecasts a slight increase in both sales revenues and earnings.
The sales revenues of EUR 39.1 million for the first half of 2010 were still down by 17 per cent compared with the previous year (30/06/2009: EUR 47.1 million); it must be noted that exceptionally high sales revenues were recorded at the beginning of 2009.
The business activities of the Hoeft & Wessel Group during the first half of the year 2010 were characterised by the start of delivery of ticket vending machines to S-Bahn Berlin, the completion of the installation of 1,000 parking terminals in the U.S. city of Philadelphia, and the delivery of mobile terminals to Netto Marken-Discount, Rewe and Lekkerland.
Operating result (EBIT) for the first six months of the year 2010 turned out negative at EUR -0.9 million (2009: EUR 1.6 million). Temporary currency effects in the amount of EUR 1.1 million, largely resulting from hedging transactions, had a negative impact on the half-year result. Handling of the hedged foreign orders results in contrary effects; as a result the transactions are thus executed at the hedged rates.
Operating cash flow of EUR 3.8 million for the first half of 2010 represents a significant increase (previous year: EUR -1.6 million).
Order intakes continued to be very positive in the second quarter. In the first six months, orders with a total volume of EUR 48.1 million were added to the books. This is an increase of 9 per cent year-on-year (30/06/2009: EUR 44.0 million). Orders received included those for e-ticketing systems in Germany and Spain, for parking machines on the Isle of Wight in the UK, and for a new mobile terminal in PDA form.
The order portfolio grew to EUR 83.4 million as at 30/06/2010 (31/12/2009: EUR 74.4 million).
"Our order books are well filled, and we plan to continue our expansion on the international markets," said Hansjoachim Oehmen, CEO of the Hoeft & Wessel Group, reviewing the positive business trend.
Key Financials Hoeft & Wessel Group
in EUR thousands 30/06/10 30/06/09 30/06/08 30/06/07 30/06/06 ------------------------------------------------------------
Sales revenues 39,124 47,104 42,502 42,536 38,795 EBITDA 1,589 3,833 3,216 2,653 2,471 Operating result (EBIT) (863) 1,569 941 312 89 in % of sales revenues - 3.3 2.2 0.7 0.2 Earnings before taxes (EBT)(1,315) 1,108 231 (347) (222) in % of sales revenues - 2.4 0.6 - - Group earnings (1,544) 741 174 (511) (90) Earnings per share (in EUR) (0.18) 0.09 0.02 (0.06) (0.06)
Cash flow from current operat. activities 3,824 (1,578) (2,353) (542) 4,094 Cash flow from Investment activities (2,268) (2,083) (2,567) (2,330) (2,719) Net cash flow (1,347) (278) (633) (2,083) (201)
Average number of employees 499 499 502 502 502
Half-Year Report 2010 and further Reports: http://www.hoeft- wessel.com/de/aktie/index.htm
Press kit with photos: http://www.presseportal.de/pm/12945/hoeft_wessel_ag/
end of announcement euro adhoc
Further inquiry note:
Arnd Fritzemeier
Tel.: +49-511-6102-300
E-Mail: af@hoeft-wessel.com
Branche: Technology
ISIN: DE0006011000
WKN: 601100
Index: TecDAX, Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
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Stuttgart / free trade
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München / free trade