The arms producer is in a precarious place regardless of rising gross sales. Administration is now hoping to place in place an austerity program and new lenders.
They specific themselves slightly clumsy. However, the announcement of the auditors of the firearm producer Heckler & Koch AG leaves no query unanswered. The sub-heading on web page 63 of the 2018 consolidated monetary statements already talked about nearly all the pieces: "Important uncertainty about persevering with the enterprise". Within the six paragraph paragraph beneath, KPMG's specialists write that there's a "important uncertainty" that "might have important doubts concerning the firm's skill to proceed working" and that it constitutes "a threat of the pursuit of the corporate".
In brief: if the corporate of Baden-Wuerttemberg Oberndorf 2019 once more writes crimson numbers, it threatens to depart. By 2018, the corporate needed to take out a mortgage of 80 million euros from an undetermined shareholder to make ends meet.
The administration writes within the report of a "bridge mortgage" and admits roughly clearly the precarious state of affairs: The continuation of the group is "dependent" on the truth that "money inflows for 2019 and subsequent years in relation to 2018 are considerably increased. "This could solely be achieved if" the manufacturing processes are improved in a sustainable method "and" the deliberate manufacturing portions are reached ". If that doesn't succeed, there will likely be "different financing wants, which then require exterior sources". If such exterior lenders aren't discovered, there may be "a threat of concern".
Workers voted in mid-Could for pay waiver
The figures within the consolidated monetary statements spotlight this prognosis: in 2018, the liabilities went from 332 to 382 million euros. Group shareholders' fairness quantities to lower than 119 million euros. However, the pursuit of the corporate is "not in query," writes the corporate. Heckler & Koch attracts this optimism from some successes: in 2018, the turnover has gone from 182 to 221 million euros and the consolidated loss has been diminished from 13 to eight million euros. As well as, workers voted in favor of a low margin wage exemption in mid-Could; Because of this, the workforce will work 37.5 hours per week sooner or later as a substitute of the earlier 35 - with unchanged pay. As well as, the 900 workers waive a deliberate single cost of 400 euros.
Heckler & Koch has been run by Jens Bodo Koch since Could 2018, however solely by the way bears the title of the founding father of the corporate, Theodor Koch. The brand new CEO is engaged on the restructuring of the loss-making firm. For this, he desires to scale back prices and optimize processes. As well as, he had considerably diminished the burden of curiosity by way of "focused refinancing measures," as an organization spokesman mentioned on request. And Koch introduced in a primary quarter launch that gross sales for the primary three months of 2019 had elevated by one quarter in comparison with the identical interval final yr. However Koch should additionally admit within the message that the reorganization is clearly harder than anticipated: the principle website of Oberndorf couldn't produce the anticipated variety of items. New manufacturing processes "nonetheless cannot attain their full potential". So it's thrilling, if and the way it goes with Heckler & Koch. As well as, the felony proceedings for unauthorized arms exports to Mexico continues to be open: the Stuttgart Regional Court docket had sentenced in February two former workers for "gang export due to scrambled permits" and ordered Heckler & Koch to gather the acquisition value of three.7 million euros, however the convicts have filed a overview. Because of this, the Federal Court docket should now resolve.
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