HTI on road to recovery as WBAG switch nears

Internationally operating technology group HTI High Tech Industries AG (HTI) managed to reduce its losses as the firm gets ready to enter the Vienna Stock Exchange’s (WBAG) Prime Market.The Linz-based company is currently quoted on the WBAG’s Mid Market. Its stocks will be traded on the Prime Market of the WBAG on 1 May. One HTI share was worth 1.60 Euros at 11am today, up from 1.39 Euros on 14 January.HTI focuses on supplying services and products for the areas of lightweight construction, engineering and energy technology. Its losses declined from 12.7 million Euros in 2009 to 3.9 million Euros the following year. The company also said today that it achieved a profit of 800,000 Euros in the first three months of 2011 after having suffered a loss of 1.7 million Euros during the same period of 2010.HTI’s turnover rose by 8.1 per cent from 178.5 million Euros in 2009 to 193 million Euros the year after. Company chief Peter Glatzmeier said today he expected HTI to achieve a “seven to 10 per cent increase” of turnover for this year compared to 2010.HTI took over individual power supply solutions specialist Dipl.Ing. Hitzinger GmbH (Hitzinger) in full last January after having held an 80 per cent interest in the firm since 2008.