In its current rating report, Euler Hermes Rating GmbH confirms its assessment of the creditworthiness and future viability of HÖRMANN Industries GmbH (corporate bond, WKN: A2TSCH) with a rating of "BB". A stable development is expected for the next twelve months. In its rating report, Euler Hermes Rating emphasises the sustainable growth potential in the profitable Communications and Engineering divisions as well as the secure medium-term financing basis combined with the group's good financial flexibility.

Following the successful placement of its new 2019/2024 bond, HÖRMANN Industries GmbH today prematurely terminated all outstanding portions of the 2016/2021 corporate bond issued in November 2016 (WKN A2AAZG / ISIN DE000A2AAZG8) with a total volume of EUR 30 million and a coupon of 4.50%.

HÖRMANN Industries GmbH (corporate bond, German Securities Code Number: A2TSCH) today published its consolidated interim report for the first half of 2020. Sales declined from EUR 299.0 million in the previous year to EUR 234.2 million in the first six months. Earnings before interest, taxes, depreciation and amortisation (EBITDA) fell to EUR 6.2 million in the reporting period (previous year: EUR 14.4 million) and operating EBIT amounted to EUR  0.4 million (previous year: EUR 8.7 million). The first half of 2020 closed with consolidated net income of EUR -4.5 million (previous year: EUR 4.2 million).

HÖRMANN Industries GmbH (corporate bond, German Securities Code Number (WKN): A2AAZG) today published its 2018 annual financial statements. In the 2018 financial year, sales increased from EUR 521.9 million (2017) to EUR 624.1 million, while EBITDA rose by around 53% year-on-year to EUR 41.8 million. Operating EBIT improved by 45% to EUR 30.5 million (previous year: EUR 21.1 million). This meant the sales and earnings forecasts that were upwardly revised in September 2018 were exceeded. HÖRMANN Industries closed the 2018 financial year with consolidated net income of EUR 14.6 million, up 60.4% on the previous year (EUR 9.1 million), with all four segments making a positive earnings contribution. The Group’s equity base improved from EUR 99.6 million at the end of the previous year to EUR 112.8 million on 31 December 2018 thanks to the positive results of operations. The equity ratio increased from 35.1% (31 December 2017) to 38.3% at the reporting date, while net cash and cash equivalents amounted to EUR 77.3 million. Total assets rose by EUR 11.3 million to EUR 294.7 million as a result of the higher level of current assets. Excluding trainees, the company had an average of 3,175 employees in the reporting period, up 12.4% compared with 2017.

HÖRMANN Automationsservice GmbH, a company of HÖRMANN Group based in Salzgitter, has acquired the Automation business unit, located in the town of Mittweida and employing 11 people, from SAV GmbH. ‘We held talks about an acquisition last year and have now negotiated the final takeover criteria and signed the contract for the asset deal,’ said Lothar Becker, managing director of HÖRMANN Automationsservice. The Automation business unit now represents another central German site for the Services division of HÖRMANN Group, with retroactive effect as of 1 January 2021. ‘We’re thrilled to be working with our new colleagues,’ said site manager Andreas Walter.

Another milestone has been reached in the development of an innovative bogie for rolling stock, with production started on the demo model of the hybridBOGIE longitudinal member. In late 2020, HÖRMANN Vehicle Engineering GmbH, based in Chemnitz, worked closely with its project partner Institut für Konstruktion und Verbundbauweisen gemeinnützige GmbH on production tooling and on devising and refining the manufacturing process to develop a near-production-ready reference component for the longitudinal member. ‘In addition to actual process validation, the longitudinal member component will also be used later in the project for further investigation as well as testing and evaluation of mechanical parameters and suspension characteristics,’ explained Matthias Büttner, project manager at HÖRMANN Vehicle Engineering.

HÖRMANN Logistik first became an official distributor of the innovative AutoStore small-parts warehouse system in 2013. Since then, numerous AutoStore systems have been implemented in a wide range of industries. HÖRMANN Logistik is also the first AutoStore partner to have implemented a system with the latest Black Line robot technology. The AutoStore business is receiving assistance with the latest addition to the distribution segment from subsidiary Klatt Fördertechnik GmbH, based in the Austrian town of Neumarkt am Wallersee.

To make more targeted and effective use of the rapid growth of our AutoStore business, the AutoStore centre of excellence was established in January 2018. This combines all activities relating to sales, marketing and implementation.

Since 1987, HÖRMANN Logistik has been absolutely dedicated to designing and implementing automated high-bay warehouses, small-parts warehouses and the associated conveyor and handling systems in all kinds of industries. Innovative ideas, ground-breaking technology and the personal touch when it comes to service have been every bit as much a part of the company’s customised designs as its tailor-made HiLIS (Hörmann Intralogistics System) warehouse management system. The Munich-based company has now been recognised for its innovative excellence with a TOP 100 innovation award in the category for companies with 51 to 200 employees in recognition of its ‘top management that encourages innovation’.

As part of the project for installing ETCS equipment, HÖRMANN Kommunikation & Netze has taken on the construction work involved in implementing cable routing systems and power supply equipment on the route from Duisburg to Freiburg. The company has already gained experience with the system through its underground cabling work on Corridor A (Rotterdam to Genoa) at Uhlerborn near the town of Ingelheim am Rhein. This involved a lot of work with road-rail vehicles while the track was closed. As well as installing cable troughing alongside the railway, the company’s specialists excavated troughs crossing from one side of the track to the other, both open and in the form of buried pipes.