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H9W - HWA AG News Story

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Last Trade - 14/08/20

Sector
Consumer Cyclicals
Size
Small Cap
Market Cap £54.2m
Enterprise Value £82.2m
Revenue £102.7m
Position in Universe 764th / 1031

BRIEF-HWA Announces Decrease In FY Sales Due To DTM And Vynamic Businesses

Tue 4th February, 2020 6:26am
Feb 4 (Reuters) - HWA AG  H9WG.DE :
    * EBIT TO FALL SIGNIFICANTLY SHORT OF PREVIOUS YEAR'S FIGURE
OF
EUR 5.3 MILLION, BUT STILL CLOSE THE YEAR IN POSITIVE TERRITORY
    * SALES ARE EXPECTED TO BE AROUND EUR 113 MILLION FOR THE
PAST
YEAR
    * DECREASE IN SALES COMPARED TO 2019 IS MAINLY DUE TO THE
LOSS OF
THE DTM BUSINESS AND THE COOPERATION WITH VYNAMIC GMBH
    * THE DTM CHAPTER IS FULLY REPRESENTED IN THE 2019 FIGURES,
NO
NEGATIVE EFFECTS ARE EXPECTED FOR 2020
    * MANAGEMENT BOARD OF HWA AG PURSUES THE ASSERTION OF CLAIMS
FOR
DAMAGES AGAINST THE PARTNERS OF THE DTM ENGAGEMENT
    * THERE IS CURRENTLY NO PLAN TO CAPITALIZE THIS RECEIVABLE
    * EXPECTS SALES OF EUR 90 MILLION IN 2020
    * EXPECTS A SIGNIFICANT COST REDUCTION IN 2020
    * BOARD WILL IMPLEMENT A GENERAL COST REDUCTION PROGRAM DUE
TO THE
LOSSES IN 2019
    * EXPECTS A POSITIVE EBIT OF APPROX. 5 MILLION EUROS FOR
2020
    * WILL NOT MAKE A DIVIDEND PROPOSAL TO THE ANNUAL GENERAL
MEETING
THIS YEAR

    
 Source text for Eikon:  ID:nEQ6SG53Ha 
 Further company coverage:  H9WG.DE  
   


 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10))
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