HWA AG Appoints Michael Wilson as Chief Technology Officer, Effective from October 1, 2016; Announces Earnings Results for the First Half of 2016; Provides Earnings Guidance for the Year 2016
The company announced earnings results for the first half of 2016. For the period, the company's sales improved by more than 32% year-on-year to EUR 49.0 million. The sales development is due essentially to the Vehicles/Vehicle Components area. EBIT amounted to EUR 0.9 million in the first six months of 2016 with net earnings of EUR 0.5 million.
The company is anticipating a significant improvement in earnings in the second half of 2016. The company's sales will be up as against the previous year for 2016 as a whole. The company is forecasting an EBIT margin in a range of between 4% and 6%.