EANS-News: Progress-Werk Oberkirch AG
PWO reports preliminary results for 2011
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annual result
Subtitle: - Significant rise in sales and EBIT in 2011
- Earnings per share increases disproportionately by 40 percent
- International locations show a turnaround in earnings
- Further growth expected in 2012
Oberkirch (euro adhoc) - Oberkirch, February 16, 2012 - Today, Progress-Werk
Oberkirch AG released its preliminary results for fiscal year 2011.
Consolidated sales rose significantly by 25.3 per cent to EUR 331.1 million
(p/y: EUR 264.2 million). Here we benefitted from both higher volumes in our
running production as well as with the start-up and ramp-up of new series. In
addition, sales included approximately EUR 20 million in material price
increases. Total output increased by 21.5 per cent to EUR 328.8 million (p/y:
EUR 270.7 million).
EBIT rose to EUR 19.2 million (p/y: EUR 16.0 million). Currency effects had a
positive effect and amounted to EUR 1.0 million (p/y: EUR 0.6 million). The tax
rate continued to decline as expected. Net income for the period and earnings
per share therefore showed an above-average increase of around 40 per cent to
EUR 9.0 million (p/y: EUR 6.5 mil-lion) and EUR 3.61 per share (p/y: EUR 2.58).
The positive performance in fiscal year 2011 can also be attributed to our
international locations which contributed EUR 1.1 million to EBIT (p/y year: EUR
-1.9 million).
Based on current call orders and estimates of our customers, we expect a further
considerable increase in sales and an above-average improvement in our earnings
in 2012.
The final figures for fiscal year 2011 will be published at our analyst and
press conference on March 14, 2012. As of March 30, 2012, the annual report 2011
will be accessible on our PWO homepage (www.progress-werk.de).
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 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
1,400 staff members including temporary workers. The Group is globally
represented with further sites in China, Canada, Mexico and the Czech Republic,
and em-ploys around 2,600 staff around the world including temporary workers.
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