EANS-News: Hoeft & Wessel achieved EUR 88 million in turnover in 2011
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Financial Figures/Balance Sheet
Subtitle: - Ticketing solutions account for half the volume of business
- Parking reflects stable trends
- Sales of mobile terminals at same level
- Operating result substiantially in negative territory
Hannover/Germany, 30/03/2012. (euro adhoc) - Preliminary figures show that in
2011, the Hoeft & Wessel Group recorded sales revenues down by roughly 7 per
cent year-on-year. More than half the turnover of EUR 88.4 million was achieved
with ticketing solutions for public passenger transport last year. A quarter was
attributable to each of Parking and Mobile Solutions.
With a share of total sales equivalent to 42 per cent, Germany remained the key
business region, followed by the United Kingdom with 22 per cent and
Switzerland with more than 10 per cent. Via partner enterprises and
subsidiaries, Hoeft & Wessel is also represented in other western European
countries as well as in the U.S. or South Africa, for instance.
Lower sales revenues and higher project costs led to a reduction in the
operating result before depreciation and amortisation (EBITDA) in 2011, to
EUR 1.0 million (2010: EUR 8.0 million). The operating result before special
write-downs amounted to -EUR 3.3 million. Regarding the revaluation of the Skeye
segment, the non-recurring write-down was specified at EUR 7.6 million, which
meant that the operating result (EBIT) for fiscal 2011 turned out substantially
negative at -EUR 10.9 million (2010: EUR 2.9 million). The revaluation will
create the preconditions in accounting terms for improved business results in
future.
Despite the negative result, the Hoeft & Wessel Group´s liquidity was adequate.
According to the preliminary figures, operating cash flow was positive at
EUR 0.6 million, even though it did not match the good value of the previous
year (2010: EUR 7.8 million).
In the field of ticketing systems of the Almex brand, Hoeft & Wessel has
developed into one of the leading providers in Europe. Despite a decline in
sales revenues to EUR 45.1 million in fiscal 2011 as a whole, the Company
perceives itself as being well positioned in this business segment (2010: EUR
50.1 million). In the United Kingdom in particular, it was possible to expand
the good market position in 2011 with the award of a large-scale contract by the
FirstGroup for a completely new e-Ticketing system for buses. As part of this
order, as many as 800 on-board computers were already delivered and installed
last year. From end-2012, passengers in the United Kingdom will then even be
able to use their credit cards as tickets. This new e-Ticketing solution based
on NFC (Near-Field Communication) will be realised in the UK for the first time
and has already attracted interest throughout Europe. In addition, it was
possible to gain a foothold in the market for stationary ticketing solutions in
the United Kingdom last year.
The DACH region, comprising Germany, Austria and Switzerland, remained the
strongest sales market for Hoeft & Wessel in 2011. Amongst the most outstanding
projects was the development mandate awarded by the Swiss Federal Railways
(Schweizerische Bundesbahnen) for an innovative mobile communications solution
for shunting and construction operations based on the GSM-Rail communications
technology. In 2011, ticket vending machines were delivered to the metro S-Bahn
Berlin and to German Rail (Deutsche Bahn).
At the UK subsidiary Metric, a manufacturer of car park terminals with
international renown, sales revenues in 2011 declined to EUR 21.4 million
(previous year: EUR 23.4 million). This was essentially due to lower revenues in
the key U.S. market and the weak exchange rate of the pound sterling at the
balance sheet date. In its home market in the UK, Metric succeeded in winning
most public tenders last year, enabling it to consolidate its leading market
position. The market launch of a further developed car park terminal in 2011
was successful. The new terminal now offers all payment options, from cash all
the way through to contactless with credit cards. In 2011, a new partner was
found in South Africa, who has already ordered terminals of the new type.
Business trends with mobile terminals of the Skeye brand proceeded on the same
level in 2011 as in the previous year. Sales revenues generated came to EUR 21.9
million (previous year: EUR 22.1 million). In regional terms, the primary focus
was on the DACH area. In the fields of retail and logistics, data capture
devices were supplied to customers like Rewe, Edeka and the Swiss Post
(Schweizerische Post).
Hoeft & Wessel AG will be publishing its Annual Report for fiscal 2011 on
30 April 2012.
Press kit with photos: http://www.presseportal.de/pm/12945/hoeft_wessel_ag/
The Company
The Hoeft & Wessel Group is the leading IT and engineering technology Group for
ticketing, parking and mobile solutions in Germany and Great Britain.
Established in 1978 by the two entrepreneurs who gave the company its name,
the enterprise has developed into a group of companies with sales revenues of
approx. EUR 90 million and a workforce of 500 employees. Its main locations are
Hannover, Germany, and Swindon, UK, to the west of London.
Further inquiry note:
Arnd Fritzemeier
Tel.: +49-511-6102-300
E-Mail: PR@hoeft-wessel.com
end of announcement euro adhoc
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company: Höft & Wessel AG
Rotenburger Str. 20
D-30659 Hannover
phone: +49-511-6102-0
FAX: +49-511-6102-411
mail: ir@hoeft-wessel.com
WWW: http://www.hoeft-wessel.com
sector: Technology
ISIN: DE0006011000
indexes: Prime All Share, Technology All Share
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
Stuttgart, regulated dealing/prime standard: Frankfurt
language: English