Sunday, July 21, 2013

H&K in financial trouble

According to German paper Die Welt, H&K is going through a rough patch.

They had big losses in 2011 and 2012. They are 199 million EU in debt, and are barely paying the interest on their debt. However they have a future contract that will bring in revenues.

Some other things in the article(translated by Zhukov from
Annual revenue is 202.7 million EU
They have Bundeswehr contract for MG5s worth 140 million EU(12700 units)
Their bond is classified as junk by Moody's
Profits are just enough to pay 28 million interest on the bonds
80% of their profit come from overseas, mostly US and UK

From: Die Welt