EQS-News

PWO reports provisional figures for 2023

EQS-News: PWO AG / Key word(s): Preliminary Results PWO reports provisional figures for 2023 22.02.2024 / 13:44 CET/CEST The issuer is solely responsible for the content of this announcement. PWO reports provisional figures for 2023

Carlo Lazzarini (CEO): “We again performed very well in 2023. Our aim for 2024 is to continue the PWO Group’s success story. We have laid the foundations for expanding our global market position, increasing profitability and decarbonizing our business.”
 

• Successful business performance in 2023
• Promising prospects for 2024

 

Oberkirch, February 22, 2024 - The PWO Group performed well in the 2023 fiscal year. Our initial preliminary and unaudited figures for the past year are as follows:

 

• Revenue: EUR 555.7 million (forecast: around EUR 550 million; p/y: EUR 530.8 million)
• EBIT before currency effects: EUR 28.1 million (forecast: EUR 26 million to EUR 29 million; p/y: EUR 27.5 million)
• Capital expenditure: EUR 26.5 million (forecast: around EUR 40 million; p/y: EUR 19.8 million)
• Lifetime volume of new business: around EUR 845 million (forecast: up to EUR 900 million; p/y: around EUR 890 million)
• Scope 1 & 2 greenhouse gas emissions: 9,417 t (forecast: 12,150 t to 12,760 t; p/y: 11,772 t)

 

We have continued to extensively develop the PWO Group both strategically and operationally in recent years. Our business model, which is entirely independent of internal combustion engines, puts us in an excellent position to help shape the green mobility of the future. This leading role is supported primarily by our profitable and fast-growing international activities, which is why the last fiscal year was another successful one for us.

With revenue meeting our original expectations, we were able to raise our forecast for EBIT before currency effects twice in 2023 and comfortably achieved the most recent forecast range. We again managed our investments with a clear focus on demand and with the goal of optimizing liquidity. We generated growth with far lower investment than originally planned, thus bolstering our financial position. Furthermore, we raised our guidance for the lifetime volume of new business twice in the course of the fiscal year, which we had not anticipated. The volumes acquired were almost in line with the extremely high prior-year figure. Greenhouse gas emissions were lower than forecast thanks to ongoing efforts to decarbonize our business.