Progress-Werk Oberkirch AG

  • WKN: 696800
  • ISIN: DE0006968001
  • Land: Deutschland

Nachricht vom 02.08.2021 | 08:00

Progress-Werk Oberkirch AG: PWO with positive business performance in the first half of 2021

DGAP-News: Progress-Werk Oberkirch AG / Key word(s): Half Year Report
02.08.2021 / 08:00
The issuer is solely responsible for the content of this announcement.

- New business continually high
- Ongoing productivity programs take effect
- Forecast for revenue and EBIT before currency effects confirmed
- Group's development makes good progress

Oberkirch, August 2, 2021 - PWO is today presenting its half-year financial report for the 2021 fiscal year and reporting positive business performance. The success is based on the strong performance of our international sites and the increasingly positive effects of the adjustments made at the Oberkirch production site so far.

Carlo Lazzarini, CEO, says: "We are staying the course in a market environment that has become even more challenging recently, with supply bottlenecks for critical intermediate products. We maintained our delivery capability throughout the first half of 2021. At the same time, we are positioning the Group so as to bring its strengths to bear in a challenging global market. We have now made considerable progress on this journey."

In the first half of 2021, the PWO Group achieved the following key figures:
Revenue: EUR 213.7 million (p/y: EUR 157.1 million)
EBIT before currency effects: EUR 13.3 million (p/y: EUR 0 million)
EBIT including currency effects: EUR 13.2 million (p/y: EUR -1.2 million)
Net income/loss for the period: EUR 8.8 million (p/y: EUR -3.8 million)
Earnings per share: EUR 2.82 (p/y: EUR -1.21)
Lifetime volume of new business: EUR 265 million (p/y: EUR 160 million)
Prior-year figures are adjusted on the basis of altered accounting.

We are particularly happy with the continually high level of new business, which a lifetime volume of around EUR 265 million, which underscores our first-class market positioning in the three mobility trends of electrification, safety and comfort. The new orders relate to all of our locations. In particular, the volume of new business at the Mexican site in the first half of the year significantly exceeded the respective levels of total revenue in both 2020 and 2019.

For the second half of the year, we still expect negative effects or risks for the results of operations overall due primarily to the continuing strain in the supply chains, the shortage of raw materials and intermediate products, and a probable further rise in purchase prices. In addition, some positive effects of the first half of the year cannot continue to the same degree. Not least, we are working hard to continue all the measures initiated under our productivity programs. As soon as additional findings from our efficiency analyses are available, we will evaluate them in terms of their savings potential and any necessary non-recurring expenses and take the resulting next steps. The potential to increase profitability at the Oberkirch production site will make more of a positive impact in future fiscal years. On the basis of the measures taken and the positive business performance in the first half of the year, we are confirming the forecast for revenue and EBIT before currency effects for the current fiscal year published on April 23, 2021.

More detailed information can be found in our half-year financial report, which is available on our website at https://www.progress-werk.de/en/investors-press/news-publications/reports/.

Progress-Werk Oberkirch AG
The Executive Board

PWO profile
With our innovative lightweight solutions, we are the preferred partner of the global mobility industry. As an engineering house, we are constantly driving forward the development and production of sophisticated metal components and complex subsystems.

Under the slogan "People, Planet, Progress," we use our technological leadership at the boundaries of what is technologically feasible in metal forming and joining to serve our customers and business partners. Responsibility is at the heart of everything we do. We see our business as a "force for good," as our contribution to a positive development in the future for the benefit of our customers, employees and shareholders as well as for our environment. To this end, we are focusing on digitalizing all of our processes using the tools of the fourth industrial revolution.

We address the three areas of the mobility of the future: electrification, safety and comfort. More than 90 percent of our revenue is independent of combustion engines. Around 3,000 employees at five production locations and three assembly sites on three continents ensure maximum delivery reliability and quality.



02.08.2021 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



show this

IPO im Fokus

MIT SICHERHEIT AUFS PARKETT. UNSER BÖRSENGANG ZUR WACHSTUMSBESCHLEUNIGUNG

ISIN: DE000A3CM708
Grundkapital (vor IPO): 3.120.000 EUR
Angebotene Aktien: bis zu 690.000 Aktien
Zeichnungsfrist: 11.10.2021 bis voraus. 25.10.2021
Bookbuildingspanne: 3,30 bis 3,60 Euro
Börse: Börse Düsseldorf

Rechtlich maßgeblicher Wertpapierprospekt auf sdm-se.de

Event im Fokus

Termine 2021

10. Juni 2021:Fachkonferenz Immobilien

14./15. Juli 2021: Fachkonferenzen Beteiligungsgesellschaften & Consumer/Leisure

13./14. Oktober 2021: Fachkonferenzen Finanzdienstleistungen/Technologie

10./11. November 2021: Fachkonferenzen Software/IT & Branchenmix

„Je nach aktueller Covid-19 Situation und den bestehenden Vorschriften für Versammlungen entscheidet sich ca. 5 Wochen vor dem Termin, in welcher Form die Konferenzen stattfinden.“

GBC im Fokus

Börsengang sdm SE: Attraktives Investment

Der Sicherheitsdienstleister sdm SE führt derzeit einen Börsengang am Primärmarkt der Börse Düsseldorf durch. Die Mittel des Börsengangs sollen die Wachstumsstrategie finanzieren und die Ertragskraft deutlich steigern. Im Rahmen unseres DCF-Bewertungsmodells haben wir einen fairen Unternehmenswert (Post Money) zum Ende des Geschäftsjahres 2022 in Höhe von 15,23 Mio. € bzw. 4,09 € je sdm-Aktie ermittelt. Unter einem Preis von 3,50 € pro Aktie sehen wir sdm als ein attraktives Investment und stufen die Aktie mit dem Rating „Kaufen“ ein.

News im Fokus

Continental passt Ausblick für das Geschäftsjahr 2021 an und veröffentlicht vorläufige Kennzahlen für das dritte Quartal 2021

22. Oktober 2021, 14:11

Aktueller Webcast

TRATON SE

Pressekonferenz – Zwischenmitteilung 9M 2021 - Webcast

28. Oktober 2021

Aktuelle Research-Studie

Aves One AG

Original-Research: Aves One AG (von GBC AG): Halten

21. Oktober 2021