EANS-News: Progress-Werk Oberkirch AG
PWO announces preliminary results for 2012 and the outlook for 2013
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Subtitle: - Revenues rose to EUR 358.1 million (p/y: EUR 331.1 million)
- EBIT increased to EUR 20.9 million (p/y: EUR 19.2 million)
- New business expanded to EUR 350 million (p/y: EUR 300 million)
- Further growth in revenues and EBIT expected in 2013 and beyond
annual result
Oberkirch (euro adhoc) - Oberkirch, February 14, 2013 - Today, Progress-Werk
Oberkirch AG released preliminary results for fiscal year 2012.
Group revenues achieved a significant increase and rose 8.2 percent to EUR
358.1 million (p/y: EUR 331.1 million). Total output climbed 11.5 percent to
EUR 366.6 million (p/y: EUR 328.8 million) and therefore slightly stronger due
to an increase in finished goods and work-in-progress, particularly in tools.
In the previous year, on balance, finished goods and work-in-progress had
declined.
However, in the course of the year the overall favorable business development
was impacted by a variety of factors on single product areas and locations. At
times this led to surpassing our capacity limits, delays of series start-ups at
international locations, as well as sales declines in Europe which had
increased in the course of the year. Particularly in December, revenues in the
series business were weaker than planned. Despite these burdens, the EBIT
increased to EUR 20.9 million (p/y: EUR 19.2 million) in the reporting year but
was slightly below our recent expectations of EUR 22-23 million.
For the current fiscal year we are cautiously optimistic. We expect a high
single-digit percentage increase in revenues and a disproportional improvement
in earnings due to further substantial series start-ups and despite an increase
in market uncertainty. With this, we want to achieve a record in the Company's
history once again.
Revenues and earnings should also continue to rise in the coming years. Our
very robust new business will contribute to this. In fiscal year 2012, we were
able to acquire a lifetime volume of EUR 350 million (p/y: 300 million) and
were therefore able to greatly exceed the previous year's level. Due to the
long lead times in our business, these new orders will start-up and ramp-up to
a large extent in the fiscal years following 2014. Their series production
periods are five to eight years. In the first few weeks of the new fiscal year,
we have already been able to win important new orders.
The final figures for 2012 will be published on March 14, 2013 and the 2012
annual report will be available on the PWO homepage (www.progress-werk.de) as
of March 28, 2013.
Progress-Werk Oberkirch AG
The Management Board
PWO company profile
PWO is one of the world's leading suppliers of advanced metal components for
automobile safety and comfort. The company has developed a unique knowledge in
the forming and joining of metals over the course of its over 90-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 Canada, the Czech Republic, China, and Mexico and employs over
2,900 staff members around the world.
PW0 is a partner to the global automotive industry for the development and
production of innovative products in the areas of "Mechanical components for
electrical and electronic applications", "Safety components for airbags, seats
and steering" and "Components and systems for vehicle bodies and chassis".
Further inquiry note:
Bernd Bartmann (CFO)
Phone: +49 7802 / 84-347
Fax: +49 7802 / 84-789
e-Mail: bernd.bartmann@progress-werk.de
end of announcement euro adhoc
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company: Progress-Werk Oberkirch AG
Industriestraße 8
D-77704 Oberkirch
phone: +49(0)7802 84-0
mail: info@progress-werk.de
WWW: http://www.progress-werk.de
sector: Automotive Equipment
ISIN: DE0006968001
indexes:
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English