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ISIN: DE0006968001
WKN: 696800
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PWO AG · ISIN: DE0006968001 · Newswire (Unternehmen)
Land: Deutschland · Primärmarkt: Deutschland · EQS NID: 1964463
09 August 2024 09:18AM

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)


Based on the positive performance in the first half of 2024, we are raising our forecast for free cash flow and confirming our expectations for the other key performance indicators.

Our various initiatives to improve the liquidity-based management of the PWO Group are now bearing lasting fruit. Despite the planned increase in capital expenditure in the second half of the year, we are now assuming that we will be able to achieve a figure in the already double-digit million euro range in 2024 (previously: positive free cash flow in the mid-single-digit million euro range).

These forecasts are based on the assumptions that 2024 will not see any major disruptions in supply chains, for example due to geopolitical tensions or economic sanctions, that energy will be available in sufficient quantities, and that there will be no significant deviations from the anticipated price developments.

The half-year financial report is published on the PWO website at https://www.pwo-group.com/en/investors-press/news-publications/press-releases/.

PWO AG
The Executive Board

 

Contact:
Charlotte Frenzel
Investor Relations & Corporate Communications

T. +49 179 / 6904 237
M. charlotte.frenzel.ext.ma@pwo-group.com

 

PWO Group: Pushing boundaries in lightweight metal solutions

2,000 PRODUCT SOLUTIONS | 3,000 EMPLOYEES | 10 LOCATIONS | 100+ YEARS OF EXPERIENCE

We are a global company in the mobility industry that is helping to shape the environmentally friendly mobility of the future through innovations and is entirely independent of combustion engines.

With our expertise in climate-friendly lightweight construction, we are technology leaders and combine economic efficiency with sustainability. We develop and produce sophisticated metal components and complex systems at the frontiers of what is technologically feasible. We meet the challenges of our time with innovative and sustainable concepts. Above all, we aim to seize the opportunities they offer.

As a values-based employer with informal structures at a global level, we thus offer our employees a meaningful environment for realizing their personal prospects. Transparent and responsible corporate governance is an integral part of our self-image.

Our corporate strategy is summed up by the slogan PEOPLE. PLANET. PROGRESS.

 



09.08.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: PWO AG
Industriestraße 8
77704 Oberkirch
Germany
Phone: +49 (0)7802 84-844
Fax: +49 (0)7802 84-789
E-mail: ir@pwo-group.com
Internet: www.pwo-group.com
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: 1964463

 
End of News EQS News Service

1964463  09.08.2024 CET/CEST

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