06.05.2015
Progress-Werk Oberkirch AG DE0006968001
DGAP-News: Progress-Werk Oberkirch AG: PWO reports results for the first quarter of 2015
DGAP-News: Progress-Werk Oberkirch AG / Key word(s): Interim
Report/Quarter Results
Progress-Werk Oberkirch AG: PWO reports results for the first quarter
of 2015
06.05.2015 / 08:00
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Press Release
PWO reports results for the first quarter of 2015
- Business development in line with expectations
- Group expansion makes solid progress
- Forecasts for 2015 confirmed
Oberkirch, May 6, 2015 - Today, Progress-Werk Oberkirch AG released its
interim financial report for the first quarter of 2015.
We generated revenues of EUR 99.6 million (p/y: EUR 99.8 million) and total
output of EUR 103.3 million (p/y: EUR 100.5 million) in the first three
months of the 2015 fiscal year. EBIT for the reporting quarter declined to
EUR 5.6 million (p/y: EUR 6.0 million) compared to the previous year. This
figure includes currency gains of a net EUR 0.7 million (p/y: EUR -0.2
million). After essentially unchanged financial expenses and a lower tax
rate, the reporting quarter's net income for the period was at the previous
year's level of EUR 3.2 million. Earnings per share were EUR 1.01 (p/y: EUR
1.03).
In the previous year, business development started off strong and then
weakened in the further course of the year. Therefore, the first quarter of
2014 makes for tough comparisons for the reporting quarter. In 2015, we
expect the opposite development; namely an increase as the year progresses.
This increase is expected to be driven by the growth we have planned at our
locations in the Czech Republic and China. Furthermore, cost reductions and
efficiency increases made throughout the Company should start to be
reflected in earnings during the course of fiscal year 2015.
This makes us well equipped to strengthen our competitive position and to
drive the Group's expansion in 2015. In doing so, Oberkirch will be focused
on the personnel adjustments in the indirect areas agreed on in the
previous year. For the time being, the Canadian location will consolidate
on the current level of revenue with good profitability. At the other
locations, the focus will be on their efficient, continued expansion.
We fully confirm our forecast for the 2015 fiscal year and continue to
expect an increase in revenues to approximately EUR 400 million and an
improvement in EBIT to roughly EUR 19 million.
Progress-Werk Oberkirch AG
The Management Board
PWO company profile
PWO is one of the world's leading developers and manufacturers of advanced
metal components and systems in lightweight construction for automobile
safety and comfort. The company has
developed a unique knowledge in the forming and joining of metals over the
course of its 95-year history since it was founded in 1919. The German
location at Oberkirch today employs around 1,500 staff members. The Group
is globally represented with further sites in China, Canada,
Mexico, and the Czech Republic. It employs around 3,100 staff members
worldwide.
PW0 is a partner to the global automotive industry for the development and
production of innovative products in the divisions of "Mechanical
components for electrical and electronic applications", "Safety components
for airbags, seats and steering" and "Components and subsystems for vehicle
bodies and chassis".
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Language: English
Company: Progress-Werk Oberkirch AG
Industriestraße 8
77704 Oberkirch
Germany
Phone: +49 (0)7802 84-0
Fax: +49 (0)7802 84-273
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
End of News DGAP News-Service
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