PWO Group stays on track for success in the first half of the year

EQS-News: PWO AG / Key word(s): Half Year Results/Half Year Report PWO Group stays on track for success in the first half of the year 09.08.2024 / 09:18 CET/CEST The issuer is solely responsible for the content of this announcement. PWO Group stays on track for success in the first half of the year

Carlo Lazzarini (CEO): "At a time when the global economy is experiencing uneven development and sales figures in the mobility industry are rather subdued, our strength demonstrates the PWO Group's high level of competitiveness."

• Continuing positive business performance
• Strong new business once again
• Expectation for free cash flow 2024 upgraded
• Other forecasts for the financial year 2024 confirmed

Oberkirch, August 9, 2024 – The PWO Group is systematically expanding its market position. In the first half of 2024, revenue and EBIT excluding currency effects both exceeded their prior-year figures. The lifetime volume of new business in this six-month period follows on from the exceptionally strong performance in previous years and thus signals further growth in the future. At the same time, the construction of our new development and production site in Serbia is progressing rapidly. The country has developed into an important center of the European mobility industry.

Our expansion is based on the solid foundations provided by a statement of financial position that is already very strong today. We are constantly refining the management of the individual items and freeing up additional resources in the process. This is reflected in particular in the high level of free cash flow in the reporting period.
 

The PWO Group achieved the following key figures in the first half of 2024:

• Revenue: EUR 288.6 m (previous year: EUR 280.5 m)
• EBIT excluding currency effects: EUR 15.5 m (previous year: EUR 14.9 m)
• EBIT including currency effects: EUR 15.3 m (previous year: EUR 14.2 m)
• Profit for the period: EUR 6.7 m (previous year: EUR 8.5 m)
• Capital expenditure: EUR 10.6 m (previous year: EUR 5.4 m)
• Free cash flow: EUR 25.7 m (previous year: EUR 10.3 m)
• Equity ratio: 36.6 percent (12/31/2023: 37.0 percent)
• Lifetime volume of new business: around EUR 410 million (previous year: around EUR 415 million)