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Progress-Werk Oberkirch AG: PWO reports strong 2015 second quarter

DGAP-News: Progress-Werk Oberkirch AG / Key word(s): Half Year Results
Progress-Werk Oberkirch AG: PWO reports strong 2015 second quarter

30.07.2015 / 08:01

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- Q2 revenues rise 6.6 percent year-on-year, total output 8.0 percent
higher
- EBIT's rise even stronger at 14.1 percent, excluding currency effects
- Forecasts for 2015 confirmed

Oberkirch, July 30, 2015 - Today, Progress-Werk Oberkirch AG released its
interim financial report for the second quarter and first half of 2015.

The Group has overcome its temporary period of weak growth and was able to
post strong gains in the quarter. Cost reduction measures are showing
significant success and fueled a disproportionately strong rise in EBIT
excluding currency effects. The balance sheet ratios improved, and new
business was buoyant.

Revenues in the second quarter increased sharply by 6.6 percent to EUR
101.2 million (p/y: EUR 95.0 million). Total output rose 8.0 percent to EUR
106.3 million (p/y: EUR 98.4 million). EBIT improved and climbed 14.1
percent to EUR 5.3 million (p/y: EUR 4.7 million), excluding currency
effects of EUR -1.4 million (p/y: EUR 0.1 million). Net income for the
period including currency effects and after financial expenses and income
taxes amounted to EUR 1.5 million (p/y: EUR 2.3 million), and earnings per
share equaled EUR 0.49 (p/y: EUR 0.72).

The performance in the first half of 2015 was still impacted by the
somewhat subdued start to the year. Revenues in the six-month period grew
3.1 percent to EUR 200.8 million (p/y: EUR 194.7 million), total output
increased 5.3 percent to EUR 209.5 million (p/y: EUR 198.9 million), while
EBIT excluding currency effects of EUR -0.7 million (p/y: EUR 0.0 million)
declined to EUR 10.2 million (p/y: EUR 10.8 million). Net income for the
period amounted to EUR 4.7 million (p/y: EUR 5.5 million) and earnings per
share totaled EUR 1.50 (p/y: EUR 1.76).

With the robust performance of the second quarter, we remain on track to
reach our targets for the 2015 fiscal year. We continue to expect revenues
of approximately EUR 400 million (p/y: EUR 381.1 million) and EBIT of
roughly EUR 19 million (p/y: EUR 16.7 million).

Progress-Werk Oberkirch AG
The Management Board


PWO company profile
PWO is one of the world's leading developers and manufacturers of advanced
metal components and systems in lightweight construction for automobile
safety and comfort. The company has
developed a unique knowledge in the forming and joining of metals over the
course of its 95-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 China, Canada,
Mexico, and the Czech Republic. It employs around 3,100 staff members
worldwide.

PW0 is a partner to the global automotive industry for the development and
production of innovative products in the divisions of "Mechanical
components for electrical and electronic applications", "Safety components
for airbags, seats and steering" and "Components and subsystems for vehicle
bodies and chassis".



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Language: English
Company: Progress-Werk Oberkirch AG
Industriestraße 8
77704 Oberkirch
Germany
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
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


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381873 30.07.2015