EANS-News: Progress-Werk Oberkirch AG
PWO reports preliminary results for 2011
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------- 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
Original content of: Progress-Werk Oberkirch AG, transmitted by news aktuell