Marked increase in sales revenues and earnings in the first quarter
- Shares reflect greater liquidity
The Hoeft & Wessel Group recorded a significant increase in sales revenues and earnings for the first three months of the year 2011, making a successful start to the current financial year.
During the first quarter of 2011, the IT and engineering Group for ticketing, parking and mobile solutions boosted sales revenues by 31 per cent to EUR 20.8 million (previous year: EUR 15.9 million). Contributing to the revenues generated were deliveries of ticket vending machines to S-Bahn Berlin and the Danish National Railways, parking terminals to South West Trains in the UK, and mobile terminals to German company Eismann and to Swiss Post.
The operating result (EBIT) of -EUR 0.4 million recorded on 31-03-2011 was also a marked improvement on the previous-year quarter (31-12-2009: -EUR 1.6 million).
Orders received in the first quarter of 2011 amounted to EUR 18.9 million (previous year: EUR 25.3 million). New orders came from the UK for the new compact ticket vending machines, from the airline SAS for check-in terminals, from the U.S city of Madison for parking terminals, and from Rewe and from the partner Warok for mobile equipment, amongst others. The order portfolio as at
31-03-2011 stood at EUR 60.0 mn. (31-12-2010: EUR 61.9 mn.).
With an average daily trading volume on all stock exchanges totalling around 7,500 shares (Q1 2010: 4,400 shares), the liquidity of Hoeft & Wessel shares
(ticker: HWS) was up significantly.
In light of the strong business performance in the first quarter, the Hoeft & Wessel Group affirms its positive forecast of rising sales revenues and earnings for the current financial year and for 2012. Hansjoachim Oehmen, CEO of the Hoeft & Wessel Group: "We anticipate new sales impetus to come from the opening up of additional international markets."