EANS-News: Progress-Werk Oberkirch AG
PWO announces preliminary results for 2012 and the outlook for 2013
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------- 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 von: Progress-Werk Oberkirch AG, übermittelt durch news aktuell