23.07.2020 Progress-Werk Oberkirch AG  DE0006968001

DGAP-Adhoc: PWO reports preliminary figures for the first half of 2020


 

DGAP-Ad-hoc: Progress-Werk Oberkirch AG / Key word(s): Half Year Results
PWO reports preliminary figures for the first half of 2020

23-Jul-2020 / 16:42 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


PWO reports preliminary figures for the first half of 2020
  • Slightly positive EBIT before currency effects in the first half of 2020
  • Balance sheet structure essentially unchanged compared to December 31, 2019
  • Outlook for second half-year not yet reasonably quantifiable

Oberkirch, July 23, 2020 - Due to the effects of the corona pandemic, PWO's business performance in the second quarter and the first half of 2020, based on preliminary figures, was predictably significantly weaker than in the previous year. 

Revenue in the second quarter declined sharply and EBIT before currency effects was negative. Revenue for the first half-year amounted to EUR 158.2 million (p/y: EUR 236.9 million), and EBIT before currency effects equaled EUR 1.0 million (p/y: EUR 10.8 million). The Czechia and especially the China locations contributed positively to this performance, while the other locations reported losses.

The balance sheet structure was essentially unchanged compared with the end of the previous fiscal year. The equity ratio of 30.3 percent as of June 30, 2020, was at the same level as of December 31, 2019 (30.1 percent). Net debt was reduced to EUR 122.5 million, compared with EUR 132.5 million at the end of the prior fiscal year. Our financial liabilities are linked to key financial indicators (financial covenants), which we met as of the June 30, 2020 reporting date. The credit lines committed at the end of the 2019 fiscal year are still available in full, and we continue to have access to extensive unused credit lines.

The future development of the automotive industry is still too uncertain to be used as a foundation for reliable corporate planning. Moreover, the discussions have not yet been concluded with our social partners regarding new supplementary wage agreements in order to reduce staff costs at the Oberkirch site. Only when these discussions have been concluded will we be able to determine the total amount of savings that can be achieved. For this reason, we cannot yet issue a new forecast for the current fiscal year.  

Disclaimer: EBIT before currency effects is not a performance measure pursuant to IFRS. Information on the calculation of this figure can be found on page 19 of the Annual Report 2019, which is available on the Company's website at https://www.progress-werk.de/en/investors-press/news-publications/reports/annual-report-2019/.

Progress-Werk Oberkirch AG
The Management Board

23-Jul-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


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
EQS News ID: 1100741

 
End of Announcement DGAP News Service

1100741  23-Jul-2020 CET/CEST

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Die wichtigsten Finanzdaten auf einen Blick
  2015 2016 2017 2018 2019 2020 2021e
Umsatzerlöse1 404,60 409,61 461,01 476,27 458,62 371,15 408,00
EBITDA1,2 42,92 44,65 44,96 42,70 45,98 21,17 45,40
EBITDA-Marge3 10,61 10,90 9,75 8,97 10,03 5,70 11,13
EBIT1,4 18,09 19,73 20,53 18,43 19,93 -10,10 17,00
EBIT-Marge5 4,47 4,82 4,45 3,87 4,35 -2,72 4,17
Jahresüberschuss1 7,54 9,52 10,06 6,64 9,10 -11,66 5,20
Netto-Marge6 1,86 2,32 2,18 1,39 1,98 -3,14 1,28
Cashflow1,7 31,11 46,30 38,31 38,45 47,95 49,20 46,00
Ergebnis je Aktie8 2,41 3,05 3,22 2,12 2,91 -3,73 1,65
Dividende8 1,55 1,60 1,65 1,35 0,00 0,00 0,25
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2020 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: KPMG

INVESTOR-INFORMATIONEN
©boersengefluester.de
PWO
WKN Kurs in € Einschätzung Börsenwert in Mio. €
696800 30,200 Halten 94,38
KGV 2022e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
15,10 12,70 1,15 14,12
KBV KCV KUV EV/EBITDA
0,90 1,92 0,25 12,85
Dividende '19 in € Dividende '20e in € Div.-Rendite '20e
in %
Hauptversammlung
0,00 0,00 0,00 19.05.2021
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
10.05.2021 02.08.2021 03.11.2021 25.03.2021
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-3,26% 20,53% 55,67% 78,70%
    
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Automobilzulieferer , 696800 , PWO , XETR:PWO