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OFFON

PROGRESS-WERK OBERKIRCH AG

(PWO)
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PRESS RELEASE : Progress-Werk Oberkirch AG: PWO confirms preliminary figures for an encouraging first quarter of 2021

05/10/2021 | 02:02am EDT
DGAP-News: Progress-Werk Oberkirch AG / Key word(s): Quarterly / Interim Statement 
Progress-Werk Oberkirch AG: PWO confirms preliminary figures for an encouraging first quarter of 2021 
2021-05-10 / 08:00 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
- Positive development in Czechia, Mexico and China 
- High level of new business underpins our solution expertise in electrification, safety and comfort for the mobility 
of the future 
Oberkirch, May 10, 2021 - With today's announcement on the first quarter, PWO is confirming the preliminary figures 
communicated on April 23, 2021. We have had a good start into the new fiscal year. Our locations in Mexico and China 
were strong contributors to this positive performance. 
The Czech location also increased its revenues. Despite expenses associated to the current site expansion, EBIT before 
currency effects remained at a high level in the first quarter. At the German and Canadian locations, revenues and EBIT 
before currency effects were below their respective levels in the same prior-year period. In Germany, we are rapidly 
implementing a comprehensive package of measures to strengthen the location's competitiveness and to facilitate future 
growth. In Canada, we can already foresee an improvement in business performance thanks to the start of series 
production. 
We achieved the following key figures for the Group: 
Revenue: EUR 110.2 million (p/y: EUR 108.8 million) 
EBIT before currency effects: EUR 5.7 million (p/y: EUR 6.8 million) 
EBIT including currency effects: EUR 5.9 million (p/y: EUR 6.1 million) 
Net income for the period: EUR 4.1 million (p/y: EUR 3.5 million) 
Earnings per share: EUR 1.32 (p/y: EUR 1.11) 
Some prior-year figures have been adjusted due to a change in accounting. 
We are especially satisfied with the high level of new business of EUR 135 million in the first quarter of 2021. This 
again underscores our outstanding solution expertise for the trends of electrification and safety as well as comfort 
for the mobility of the future. Larger contract volumes relate to air suspension components for various premium class 
vehicles of a renowned international manufacturer. These components will be produced in Oberkirch. 
The expansion of our Czech location is progressing rapidly, particularly following an additional order for the 
production of instrument panel carriers at that location. This is an example of our continuing growth strategy of 
supplying an ever broader range of products to existing customers. We are also pleased that we will start supplying a 
customer's all-electric touring sedan, which is one of the flagship vehicles of its model range. 
Despite the uncertainties resulting from the possible effects of the pandemic, we are confident that we will be able to 
report further technologically sophisticated new orders from existing and new customers in the course of the year. We 
are thus focusing on a rapid recovery and the ambitious medium-term growth of the Group. 
Further detailed information can be found in our quarterly statement, which is available on our website at https:// 
www.progress-werk.de/en/investors-press/news-publications/reports/quarterly-reports-2021/. 
Progress-Werk Oberkirch AG 
The Executive Board 
Company Profile PWO 
PWO is a partner to the global mobility industry for the development and production of advanced metal components and 
subsystems using lightweight construction. The Group has developed a unique knowledge in the forming and joining of 
metals over the course of its more than 100-year history since it was founded in 1919. With our expertise in 
lightweight construction, we contribute to environmentally friendly driving and greater distances. 
All of the Group's more than 1,000 products contribute to electrification, safety and comfort. More than 90 percent of 
its revenues are independent of the vehicle's type of drivetrain. Approximately 3,000 employees on three continents at 
five production sites and three assembly plants ensure the highest level of delivery reliability and quality. 
=---------------------------------------------------------------------------------------------------------------------- 
2021-05-10 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 
=---------------------------------------------------------------------------------------------------------------------- 
Language:     English 
Company:      Progress-Werk Oberkirch AG 
              Industriestraße 8 
              77704 Oberkirch 
              Germany 
Phone:        +49 (0)7802 84-844 
Fax:          +49 (0)7802 84-789 
E-mail:       ir@progress-werk.de 
Internet:     www.progress-werk.de 
ISIN:         DE0006968001 
WKN:          696800 
Listed:       Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, 
              Dusseldorf, Hamburg, Munich, Tradegate Exchange 
EQS News ID:  1194003 
 
End of News   DGAP News Service 
=------------ 

1194003 2021-05-10

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1194003&application_name=news 
 

(END) Dow Jones Newswires

May 10, 2021 02:01 ET (06:01 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 0.72% 35032.63 Delayed Quote.13.69%
PROGRESS-WERK OBERKIRCH AG -3.33% 29 Delayed Quote.54.64%
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Financials
Sales 2021 443 M 519 M 519 M
Net income 2021 10,4 M 12,2 M 12,2 M
Net Debt 2021 112 M 131 M 131 M
P/E ratio 2021 9,02x
Yield 2021 3,71%
Capitalization 93,8 M 110 M 110 M
EV / Sales 2021 0,46x
EV / Sales 2022 0,46x
Nbr of Employees 3 086
Free-Float 53,3%
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Number of Analysts 2
Last Close Price 30,00 €
Average target price 31,90 €
Spread / Average Target 6,33%
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Managers and Directors
Carlo Lazzarini Chief Executive Officer
Cornelia Ballwie▀er CFO, Head-Finance & Administration
Karl M. Schmidhuber Chairman-Supervisory Board
Johannes Obrecht Chief Operating Officer
Dieter Maier Honorary Chairman
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