Hoeft & Wessel AG affirms positive forecast for 2010

First quarter weaker year-on-year, as expected. Gratifying volume of new orders in hand.
The Hoeft & Wessel Group affirms its positive forecast despite the expected weak first-quarter performance. The IT hardware and software specialist for ticketing, parking facilities and mobile solutions anticipates a slight increase both in sales revenues and in its operating result for the year 2010.

In the first quarter, the Company generated sales revenues of EUR 15.9 million. In the same period a year earlier, due to temporary special effect the Company's sales revenues had turned out exceptionally high at EUR 24.5 million.

The operating result (EBIT) turned out negative, with EUR 1.6 million being recorded as at 31 March 2010 (2009: EUR 0.2 million). In contrast, the operational cash flow, at EUR 498,000 in the first quarter of 2010, was substantially boosted (previous year: EUR 2,597,000).

As a rule, sales revenues of Hoeft & Wessel AG also tend to increase from quarter to quarter. We also expect that to be the case this year. In the case of ticket vending and car park terminals, we can already determine a substantial share of our sales revenues on the basis of the orders contracted. As far as mobile terminals are concerned, we currently see increasing demand, says Hansjoachim Oehmen, CEO of the Hoeft & Wessel Group, in commenting on anticipated business trends in the year 2010.

The order intake continued to see a gratifying development in the first quarter. In the first three months, new orders with a total volume of EUR 25.3 million were acquired. As a result, the newly signed contracts even almost matched the previous years volume of EUR 26.2 million, to which a large-scale order for car park terminals placed by the U.S. city of Philadelphia had made a key contribution. The order portfolio as at 31 March 2010 came to EUR 83.8 million (31/12/2009: EUR 74.4 million).

At the Annual General Meeting of Hoeft & Wessel AG scheduled for 17 June 2010, the shareholders will be asked to vote on the payment of a dividend for the very first time. 
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