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PROGRESS-WERK OBERKIRCH AG (FRA:PWO) EQS-News: PWO reports successful start to new fiscal year 2024

Transparency directive : regulatory news

15/05/2024 08:30

EQS-News: PWO AG / Key word(s): Quarterly / Interim Statement
PWO reports successful start to new fiscal year 2024

15.05.2024 / 08:30 CET/CEST
The issuer is solely responsible for the content of this announcement.


Press release

PWO reports successful start to new fiscal year 2024

Carlo Lazzarini (CEO): “We intend to systematically press ahead with the strategic enhancement and continuous expansion of the PWO Group’s market position at a fast pace in 2024 as well. The first quarter shows that we are making good progress.”

  • Higher revenue growth than anticipated
  • EBIT before currency effects above planned level
  • Strong new business
  • Forecast for fiscal year 2024 confirmed

Oberkirch, May 15, 2024 – The PWO Group is continuing to benefit from the high level of new business in recent years and the associated continuous start-up and ramp-up of new series productions. Revenue and EBIT before currency effects both increased to a greater degree than anticipated in the first 3 months of 2024. The performance of our sites in the Czechia and China segments is currently particularly noteworthy.  

At EUR 200 million, we have already achieved a substantial proportion of our expected new business volume for 2024 as a whole, which will help to safeguard our growth strategy for future years. Our tireless search for new and attractive product solutions for our customers also contributed to this development. We secured a major order for brake disc cover plates in the reporting quarter, meaning that we have now expanded our already extensive range of products to include an additional use case for chassis components.

The following key performance indicators were achieved in the PWO Group in the first quarter of 2024:

  • Revenue: EUR 146.8 million (previous year: EUR 140.9 million)
  • EBIT before currency effects: EUR 7.4 million (previous year: EUR 6.8 million)
  • EBIT including currency effects: EUR 7.3 million (previous year: EUR 6.1 million) 
  • Net income for the period: EUR 3.3 million (previous year: EUR 3.1 million)
  • Capital expenditure: EUR 3.8 million (previous year: EUR 2.6 million)
  • Free cash flow: EUR 17.3 million (previous year: EUR 6.7 million)
  • Equity ratio: 36.0 percent (December 31, 2023: 37.0 percent)
  • Lifetime volume of new business: approx. EUR 200 million
    (previous year: approx. EUR 185 million)

Based on the encouraging performance in the first quarter of the new year, we are confirming our forecasts for the current fiscal year. These are based on the assumptions that there will be no major disruptions to supply chains in 2024, for example due to geopolitical tension or economic sanctions, that energy will be available in sufficient quantities, and that there will be no significant deviations from the anticipated price developments.

The report on the first quarter of 2024 is published on the PWO website at https://www.pwo-group.com/en/investors-press/news-publications/reports/.
 

PWO AG
 

The Executive Board

 

Contact:

Charlotte Frenzel
Investor Relations & Corporate Communications

T. +49 179 / 6904 237
M. charlotte.frenzel.ext.ma@pwo-group.com

 

PWO Group: Pushing boundaries in lightweight metal solutions

2,000 PRODUCT SOLUTIONS | 3,000 EMPLOYEES | 9 LOCATIONS | OVER 100 YEARS OF EXPERIENCE

We are a global company in the mobility industry that is helping to shape the environmentally friendly mobility of the future through innovations and is entirely independent of combustion engines.

With our expertise in climate-friendly lightweight construction, we are technology leaders and combine economic efficiency with sustainability. We develop and produce sophisticated metal components and complex subsystems at the frontiers of what is technologically feasible. We meet the challenges of our time with innovative and sustainable concepts. And above all, we aim to seize the opportunities they offer.

As a values-based employer with informal structures at a global level, we offer our employees a meaningful environment for realizing their personal prospects. Transparent and responsible corporate governance is an integral part of our self-image.

Our corporate strategy is summed up in the slogan PEOPLE. PLANET. PROGRESS.

 



15.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: PWO AG
Industriestraße 8
77704 Oberkirch
Germany
Phone: +49 (0)7802 84-844
Fax: +49 (0)7802 84-789
E-mail: ir@pwo-group.com
Internet: www.pwo-group.com
ISIN: DE0006968001
WKN: 696800
Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange
EQS News ID: 1903069

 
End of News EQS News Service

1903069  15.05.2024 CET/CEST

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