HÖRMANN Industries strengthens Communication business division through investment in Poland

• HÖRMANN indirectly acquires a 60% stake in Radionika Sp. z o.o. through its subsidiary Funkwerk AG.
• Expansion of international expertise in the area of train radio

Kirchseeon, 27 April 2023 - HÖRMANN Industries GmbH (corporate bond, WKN: A2TSCH / ISIN: NO0010851728) is continuing to drive forward the strategic alignment of the group and is strengthening its Communication business division through an acquisition via its subsidiary Funkwerk AG in the field of train radio.

Funkwerk AG (WKN: 575314 / ISIN: DE0005753149), one of the technologically leading providers of professional communication, information and security systems as well as technical services, in which HÖRMANN Industries GmbH is the main shareholder with a stake of around 78%, acquired 60% of the shares in Radionika Sp. z o.o., Krakow/Poland. The sellers are the previous minority shareholders and the current main shareholder, who will continue to act as Managing Director of the company.

Radionika specializes in the development and manufacture of train radio terminals and radio communication systems for railroad infrastructures. On average over the last four years, the company has generated sales in the mid single-digit million range and a good EBIT margin. The contract was signed today, the purchase price was not disclosed. It contains conditions precedent and the closing is expected to take place in May 2023.

With the takeover, Funkwerk AG expands its development resources as well as its sales options and strengthens its international position in mobile radio systems for train traffic.

"We are pleased," says Kerstin Schreiber, spokeswoman for the Executive Board of Funkwerk AG, "that the very competent team from Radionika will be part of our group in the future. In particular, we can increase our customer base in Eastern Europe and thus the number of existing train radio systems with the acquisition."

Dr. Michael Radke, CEO of HÖRMANN Industries GmbH: "We continue to consistently pursue the focus of the HÖRMANN Group towards future-oriented business areas that promise high growth opportunities and good profitability. Funkwerk AG, part of our Communication business division, is one of the strong pillars with high growth potential, which we want to further strengthen with this acquisition."

Contact:

HÖRMANN Industries GmbH
Hauptstrasse 45-47
D-85614 Kirchseeon
T +49 8091 5630 0
F +49 8091 5630 195
info@hoermann-gruppe.com

Financial and business press:

IR.on AG
Frederic Hilke
T +49 221 9140 970
hoermann@ir-on.com

About the HÖRMANN Group

Since the company was founded in 1955, the HÖRMANN Group has grown steadily. Under the umbrella of HÖRMANN Holding GmbH & Co KG, around 30 subsidiaries operate in the Automotive, Communication, Engineering and Intralogistics business divisions with a high level of entrepreneurial initiative and independence. The aim of the HÖRMANN Group is to provide customers with specific solutions and services that offer economic advantages and a high level of customer benefit. To achieve this, the HÖRMANN Group, with around 2,900 highly qualified employees, uses its entire broadly diversified and networked knowledge from a wide range of technological fields.

www.hoermann-gruppe.com