Höft & Wessel AG announced earnings results for the first quarter of 2014. For the period, the company's sales revenues were down by 24% year-on-year to EUR 11.7 million against EUR 15.5 million a year ago, due to insufficient order intake and delays in legacy projects from previous years not yet completed. The relatively low sales revenues led to a negative operating result (LBIT) of EUR 3.9 million against EUR 0.7 million a year ago. With an order intake coming to EUR 12.4 million compared with EUR 15.9 million in the previous year, project business fell short of expectations.

After a weak first quarter, the group expects business to pick up in the fourth quarter of 2014 as a result of the reinforcement of sales activities. The technology company now expects full-year sales revenues to be down on the previous year in 2014. Despite the risks from the execution of legacy projects the company anticipates a slightly positive operating result (EBIT).