DGAP-News: Höft & Wessel AG / Key word(s): Change in Forecast/Product Launch Höft & Wessel AG: Hoeft & Wessel continues growth strategy, investing in new products despite special, non-recurring expenditure on legacy projects in 2014 25.02.2015 / 10:49
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Hoeft & Wessel continues growth strategy, investing in new products despite special, non-recurring expenditure on legacy projects in 2014 - Processing of legacy projects impacted business development more sharply in 2014 than anticipated - High investments in new products with market launch in 2015 - The Droege Group, the company's principal shareholder, supports growth initiatives Hanover, 23 February 2015: The Hoeft & Wessel Group was compelled to continue its streamlining in the financial year 2014. The primary focus of this streamlining programme included the conclusion of two large-scale projects an unexpectedly high expenditure and delays. At its meeting of 28 October 2014, the Supervisory Board adopted a resolution to discharge Mr Rudolf Spiller from his duties as a member of the Board of Management (CEO). In connection with a large-scale project that has meanwhile been accepted by a customer, additional non-recurring expenses arose towards the end of the year, which had a further severe impact on the operating result for the financial year 2014. On account of the measures required to be adopted in the fourth quarter of 2014 by the new Board of Management, consisting of Thomas Dibbern (CEO), Dr Günter Kuhlmann (CTO) and Paul Lebold (CFO), in particular for the conclusion of legacy projects, according to the preliminary figures for fiscal 2014 EBIT is expected to turn out negative at approx. EUR 15 million. The finalisation of the critical legacy projects will give the company the opportunity to invest the resources that have hitherto been tied down in these projects in the company's reorientation and growth. Notwithstanding the special, non-recurring expenditure, the Hoeft & Wessel Group has already consistently invested in new product development programmes. These product developments, including the new mobile terminal in particular as well as the latest, fourth generation of a successful data capture device, constitute the basis for the future success of the Hoeft & Wessel Group, amongst other things. The mobile terminal almex.mobile 2 was already presented to the public at the InnoTrans in Berlin at the end of September 2014. The new mobile data capture device skeye.allegro LSi, the predecessor model of which was sold roughly 250,000 times, will be presented at the EuroCIS in Düsseldorf on 24th February 2015. In addition to these developments that have already been completed, Hoeft & Wessel is currently making extensive investments in developing a modern, web-based back office system and new application software for ticketing terminals as well as in a new product generation of car park terminals. The planned sales revenues for the financial year 2015 are predominantly secured inter alia by order portfolios for nationwide rollout of the mobile terminal for train attendants of Deutsche Bahn (German Rail) as well as for rollout of the new mobile data capture device skeye.allegro LSi at a large EDEKA retail company. The completely renewed product portfolio of Hoeft & Wessel in the course of fiscal 2015 will give the company a good starting point for initiating a growth phase. In its capacity as the principal shareholder of the Hoeft & Wessel Group, the Droege Group supports and endorses the growth initiatives launched and is convinced of the company's positive strategic and operational development. About Hoeft & Wessel The Hanover-based Hoeft & Wessel Group with its locations in the United Kingdom and in the United States is a leading solutions provider and service partner for data capture, validation and processing systems. The product portfolio includes ticketing systems, mobile terminals for data capture, and car park systems. Hoeft & Wessel has linked its fortunes to the global trend towards greater mobility, and its systems contribute towards more efficient processes in the transportation of passengers, goods and services. The Company's customers include Deutsche Bahn and FirstGroup, as well as leading retailers in Europe. The principal shareholder of Hoeft & Wessel AG is the company Droege International Group AG (www.droege-group.com), based in Düsseldorf, Germany. Additional information is available at: www.hoeft-wessel.com. Contact: Hoeft & Wessel AG Dr. Arnd Fritzemeier +49 511 6102-300 PR@hoeft-wessel.com
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25.02.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English Company: Höft & Wessel AG Rotenburger Str. 20 30659 Hannover Germany Phone: +49 (0)511-6102-0 Fax: +49 (0)511-6102-411 E-mail: info@hoeft-wessel.com Internet: www.hoeft-wessel.com ISIN: DE000A1X3X66 WKN: A1X3X6 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart End of News DGAP News-Service
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326743 25.02.2015
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Hoeft & Wessel continues growth strategy, investing in new products despite special, non-recurring expenditure on legacy projects in 2014 - Processing of legacy projects impacted business development more sharply in 2014 than anticipated - High investments in new products with market launch in 2015 - The Droege Group, the company's principal shareholder, supports growth initiatives Hanover, 23 February 2015: The Hoeft & Wessel Group was compelled to continue its streamlining in the financial year 2014. The primary focus of this streamlining programme included the conclusion of two large-scale projects an unexpectedly high expenditure and delays. At its meeting of 28 October 2014, the Supervisory Board adopted a resolution to discharge Mr Rudolf Spiller from his duties as a member of the Board of Management (CEO). In connection with a large-scale project that has meanwhile been accepted by a customer, additional non-recurring expenses arose towards the end of the year, which had a further severe impact on the operating result for the financial year 2014. On account of the measures required to be adopted in the fourth quarter of 2014 by the new Board of Management, consisting of Thomas Dibbern (CEO), Dr Günter Kuhlmann (CTO) and Paul Lebold (CFO), in particular for the conclusion of legacy projects, according to the preliminary figures for fiscal 2014 EBIT is expected to turn out negative at approx. EUR 15 million. The finalisation of the critical legacy projects will give the company the opportunity to invest the resources that have hitherto been tied down in these projects in the company's reorientation and growth. Notwithstanding the special, non-recurring expenditure, the Hoeft & Wessel Group has already consistently invested in new product development programmes. These product developments, including the new mobile terminal in particular as well as the latest, fourth generation of a successful data capture device, constitute the basis for the future success of the Hoeft & Wessel Group, amongst other things. The mobile terminal almex.mobile 2 was already presented to the public at the InnoTrans in Berlin at the end of September 2014. The new mobile data capture device skeye.allegro LSi, the predecessor model of which was sold roughly 250,000 times, will be presented at the EuroCIS in Düsseldorf on 24th February 2015. In addition to these developments that have already been completed, Hoeft & Wessel is currently making extensive investments in developing a modern, web-based back office system and new application software for ticketing terminals as well as in a new product generation of car park terminals. The planned sales revenues for the financial year 2015 are predominantly secured inter alia by order portfolios for nationwide rollout of the mobile terminal for train attendants of Deutsche Bahn (German Rail) as well as for rollout of the new mobile data capture device skeye.allegro LSi at a large EDEKA retail company. The completely renewed product portfolio of Hoeft & Wessel in the course of fiscal 2015 will give the company a good starting point for initiating a growth phase. In its capacity as the principal shareholder of the Hoeft & Wessel Group, the Droege Group supports and endorses the growth initiatives launched and is convinced of the company's positive strategic and operational development. About Hoeft & Wessel The Hanover-based Hoeft & Wessel Group with its locations in the United Kingdom and in the United States is a leading solutions provider and service partner for data capture, validation and processing systems. The product portfolio includes ticketing systems, mobile terminals for data capture, and car park systems. Hoeft & Wessel has linked its fortunes to the global trend towards greater mobility, and its systems contribute towards more efficient processes in the transportation of passengers, goods and services. The Company's customers include Deutsche Bahn and FirstGroup, as well as leading retailers in Europe. The principal shareholder of Hoeft & Wessel AG is the company Droege International Group AG (www.droege-group.com), based in Düsseldorf, Germany. Additional information is available at: www.hoeft-wessel.com. Contact: Hoeft & Wessel AG Dr. Arnd Fritzemeier +49 511 6102-300 PR@hoeft-wessel.com
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25.02.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English Company: Höft & Wessel AG Rotenburger Str. 20 30659 Hannover Germany Phone: +49 (0)511-6102-0 Fax: +49 (0)511-6102-411 E-mail: info@hoeft-wessel.com Internet: www.hoeft-wessel.com ISIN: DE000A1X3X66 WKN: A1X3X6 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart End of News DGAP News-Service
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326743 25.02.2015
