DGAP-News Progress-Werk Oberkirch AG: Supervisory Board meeting to approve the financial statements and kick-off for new positioning on the capital market
DGAP-News: Progress-Werk Oberkirch AG / Key word(s): Annual Results
- 2020 preliminary figures confirmed
- Positive development in fiscal year 2021 firmly in sight
- Executive Board presents new positioning on the capital market
Oberkirch, March 25, 2021 - At its meeting today, the Supervisory Board of Progress-Werk Oberkirch AG reviewed, discussed and approved the annual financial statements and consolidated financial statements for the 2020 fiscal year, thereby adopting the annual financial statements of Progress-Werk Oberkirch AG. The preliminary figures for the 2020 fiscal year, previously reported on February 24, 2021, have been confirmed. Selected prior-year figures have been adjusted due to changes in accounting.
Revenue: EUR 371.2 million (p/y: EUR 458.5 million)
EBIT before currency effects: EUR -8.1 million (p/y: EUR 22.1 million); adjusted for extraordinary items: EUR 15.9 million
EBIT including currency effects: EUR -10.1 million (p/y: EUR 19.8 million)
Net income/loss for the period: EUR -11.7 million (p/y: EUR 9.1 million)
Earnings per share: EUR -3.73 (p/y: EUR 2.90)
The preliminary figures for the Group's other performance indicators were also confirmed. Due to the unappropriated retained loss, a proposal for the appropriation of earnings will not be made to the Annual General Meeting.
Last year we set the course to improve earnings and rapidly expand the Group's market position in the 2021 fiscal year. Extensive unutilized credit lines give us the scope we need to quickly
implement our strategic goals.
Fiscal year 2021 will also be marked by an engaging image for PWO on the capital market. To achieve this, the Executive Board presented PWO's newly revised and expanded equity story to the Supervisory Board today: