HWA AG: management transactions · Germany · BaFin

About HWA AG

HWA AG is a German industrial engineering specialist focused on high-performance automotive and motorsport applications. The company is listed on Xetra/Frankfurt (DAX/MDAX/SDAX) in Germany under ticker H9W.DE, with ISIN DE000A0LR4P1. Founded in 1998 by Hans Werner Aufrecht, HWA is headquartered in Affalterbach, Germany, near Stuttgart, and employs around 300 highly qualified staff. The company also operates subsidiaries in the United States and Australia, reflecting a global footprint despite its niche scale. ([hwaag.com](https://www.hwaag.com/en/hwa-ir/382-about-us.html?utm_source=openai)) HWA describes itself as an independent “360 engineering specialist” serving motorsport and high-performance vehicles. Its service offering spans the full value chain: design of individual vehicle components, development of complete systems, assembly of entire cars, logistics, after-sales, and support services. The group’s origins lie in racing, but its current activity covers both classic motorsport programmes and newer electric-racing formats, which broadens its technical reach and customer relevance. ([hwaag.com](https://www.hwaag.com/en/hwa-ir/382-about-us.html?utm_source=openai)) From a competitive standpoint, HWA benefits from a long-standing reputation in the German performance-car ecosystem. The company is closely associated with Mercedes-Benz and Mercedes-AMG heritage and has contributed to landmark programmes such as the CLK-GTR, CLK-DTM AMG, and SL 65 AMG Black Series. That track record is strategically important: in this segment, credibility, engineering precision, and OEM trust are as valuable as pure manufacturing capacity. ([presse.hwaag.com](https://presse.hwaag.com/de/671-hwa-evo-chassis-nummer-000-wurde-fuer-1-310-000-versteigert.html?utm_source=openai)) A key recent strategic focus is the HWA EVO, a modern reinterpretation of the Mercedes-Benz 190E 2.5-16 EVO II. HWA has positioned the model as a roadgoing, track-capable super saloon aimed at ultra-high-performance enthusiasts. In 2024 and 2025, the company disclosed major development milestones, including concept presentation, advanced validation testing, crash testing, and a planned motorsport version for the 2026 Nürburgring 24 Hours. These updates reinforce HWA’s ability to create bespoke, low-volume premium vehicles with strong brand appeal. ([presse.hwaag.com](https://presse.hwaag.com/de/667-hwa-ag-praesentiert-evo-concept-demonstrator-und-enthuellt-technische-einzelheiten-zur-neuen-superlimousine.html?utm_source=openai)) Recent operating news, however, also highlights execution risk. In April 2024, HWA said it would not pursue a successor development contract for the Mercedes-AMG GT3 programme and that several planned development and production projects were delayed, creating a negative impact on 2024 business performance. The 2024 annual report showed revenue of EUR 63.6 million and EBIT of EUR -18.0 million, versus EUR 0.8 million in 2023, underlining a year of underutilisation and pressure on profitability. ([hwaag.com](https://www.hwaag.com/en/ir-disclaimer-en/ir-blog-en/826-publication-of-insider-information-in-accordance-with-article-17-mar-2.html?utm_source=openai)) For investors, HWA AG remains a specialised German niche player with differentiated engineering capabilities, strong motorsport credentials, and attractive optionality from proprietary vehicle programmes, but also meaningful dependence on project timing and OEM demand cycles.