Earnings Release • Sep 28, 2015
Earnings Release
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Corporate | 28 September 2015 21:01
HWA AG’s earnings increased in first half 2015
DGAP-News: HWA AG / Key word(s): Half Year Results
2015-09-28 / 21:01
HWA AG’s earnings increased in first half 2015
Affalterbach, 28 September 2015 – HWA AG’s sales and earnings indicators in the first half of 2015 were in line with Management’s expectations. Sales were in line with budget and slightly lower, while EBIT and net earnings were considerably better than in the same period last year.
HWA AG’s sales in the first six months of 2015 came to EUR 37.0m, compared with EUR 37.9m in the first half of 2014. EBIT improved from EUR 0.9m to EUR 1.9m. Net earnings increased from EUR 0.5m to EUR 1.2m. Earnings per share for the first half of 2015 were EUR 0.24.
Sales in the motor racing business (DTM and Formula 3 engines) in the first half of 2015 were up slightly, in line with plan. Vehicles and vehicle components sales were lower – in line with budget – as a result of the gradual phasing out of production of the SLS AMG GT3. In the first half of 2014, there were considerable additional expenses for the DTM racing series resulting from the intense competition; in the first of 2015, any additional expenses were not as high. HWA AG exploited the development opportunities presented by last year’s higher DTM expenses to the full, and the additional expenditure has paid off. The performance of the Mercedes-AMG DTM team improved significantly in the DTM 2015 season – HWA AG is well on the way to being in a better competitive position again. Leasing and sales of Formula 3 engines in the first half of 2015 showed an unexpected and very satisfactory increase.
The vehicles and vehicle components business was in line with forecasts. The first half of the year was mainly taken up with development of the Mercedes-AMG GT3 project. After the racing car’s premiere at the Geneva Motor Show, the prototype successfully completed its first test runs. Endurance tests and race participation are scheduled for the second half of 2015, and the development project is expected to be completed by the end of 2015. In the first half of 2015, the last SLS AMG GT3s were delivered. Since AMG entered the customer sport segment towards the end of 2010, the SLS AMG GT3 has won a total of over 226 races.
Management is confident that its expectations for 2015 as a whole will be fulfilled, and plans forecast sales and revenues higher than last year’s. Performance in the first half of 2015 provides a firm basis for these expectations.
Contact
Investor relations / Press
HWA AG
Benzstrasse 8
D-71563 Affalterbach, Germany
Phone + 49 (0) 7144/8717-279
Fax + 49 (0) 7144/8718-111
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 process of disposal, motor racing – what is today the Mercedes-AMG DTM team – and parts of the vehicles and vehicles components business were 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 engines, together with all other activities involved in the racing team’s operations. In its vehicles and vehicles components business, it develops and builds cars and vehicle components for the automobile industry. Since 2003 HWA AG has been developing, producing and servicing racing engines for Formula 3 cars which are primarily used in the FIA F3 European Championship.
2015-09-28 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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| Language: | English |
| Company: | HWA AG |
| Benzstraße 8 | |
| 71563 Affalterbach | |
| Germany | |
| Phone: | +49 (0)7144 87 17-279 |
| Fax: | +49 (0)7144 87 18-111 |
| E-mail: | [email protected] |
| Internet: | http://www.hwaag.com |
| ISIN: | DE000A0LR4P1 |
| WKN: | A0LR4P |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart; Open Market (Entry Standard) in Frankfurt |
| End of News | DGAP News Service |
| - - - |
| 398191 2015-09-28 |
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