03.05.2018
Progress-Werk Oberkirch AG DE0006968001
DGAP-News: Progress-Werk Oberkirch AG: PWO starts the new fiscal year on track
DGAP-News: Progress-Werk Oberkirch AG / Key word(s): Quarterly / Interim
Statement
Progress-Werk Oberkirch AG: PWO starts the new fiscal year on track
03.05.2018 / 08:00
The issuer is solely responsible for the content of this announcement.
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- Revenue development temporarily affected by a shift in series start-ups
- Customer call orders confirm the volume planned for 2018
- Significant rise in EBIT and net income for the period in the first
quarter
- Foundation laid to reach the full-year 2018 forecast
Oberkirch, May 3, 2018 - In the first three months of 2018, the PWO Group
visibly increased its earnings while revenue growth leveled off slightly. In
the first quarter, customers shifted several series start-ups, which brought
some short-term relief to our capacity, giving us additional leeway to
prepare for the upcoming growth planned in the current fiscal year. EBIT
before currency effects increased by one third supported by improved
earnings at the Oberkirch location and lower burdens from China. Since
currency effects played a smaller role in the quarter than in the previous
year, the increase in net income for the period and earnings per share was
even stronger.
Overall Group revenue amounted to EUR 122.8 million (p/y: EUR 117.1 million)
and total output to EUR 124.7 million (p/y: EUR 122.0 million). EBIT before
currency effects increased strongly to EUR 7.4 million (previous year: EUR
5.6 million) and to EUR 7.5 million including currency effects (p/y: EUR 5.2
million). Net income for the period and earnings per share improved to EUR
4.0 million (p/y: EUR 2.9 million) and EUR 1.29 (p/y: EUR 0.91),
respectively.
With our performance in the first quarter, we have laid the foundation for
achieving our 2018 fiscal year forecast. There will, however, still be
challenges, particularly the upcoming start-ups of large and complex series
productions at the Oberkirch and other locations. We are also aiming for
significant profitability gains in China and Mexico. Nevertheless, we are
confident that we will be able to successfully master the challenges
presented to us again this year.
Progress-Werk Oberkirch AG
The Management Board
PWO company profile
PWO is a partner to the global automotive industry for the development and
production of advanced metal components and subsystems using lightweight
construction. The Group has developed a unique knowledge in the forming and
joining of metals over the course of its almost 100-year history since it
was founded in 1919. With our expertise in cost-efficient lightweight
construction, we contribute to environmentally friendly driving and greater
distances.
All of the Group's more than 1,000 products contribute to automotive comfort
and safety. More than 90 percent of revenue is independent of the vehicle's
type of drivetrain. Approximately 3,400 employees on three continents at
five production sites and four assembly plants ensure the highest level of
delivery reliability and quality.
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03.05.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Progress-Werk Oberkirch AG
Industriestraße 8
77704 Oberkirch
Germany
Phone: +49 (0)7802 84-347
Fax: +49 (0)7802 84-789
E-mail: [email protected]
Internet: www.progress-werk.de
ISIN: DE0006968001
WKN: 696800
Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich, Tradegate Exchange
End of News DGAP News Service
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681435 03.05.2018
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