EQS-News: PWO reports successful start to new fiscal year 2024

Press release

PWO reports successful start to new fiscal year 2024

Carlo Lazzarini (CEO): “We intend to systematically press ahead with the strategic enhancement and continuous expansion of the PWO Group’s market position at a fast pace in 2024 as well. The first quarter shows that we are making good progress.”

• Higher revenue growth than anticipated
• EBIT before currency effects above planned level
• Strong new business
• Forecast for fiscal year 2024 confirmed

Oberkirch, May 15, 2024 – The PWO Group is continuing to benefit from the high level of new business in recent years and the associated continuous start-up and ramp-up of new series productions. Revenue and EBIT before currency effects both increased to a greater degree than anticipated in the first 3 months of 2024. The performance of our sites in the Czechia and China segments is currently particularly noteworthy.  

At EUR 200 million, we have already achieved a substantial proportion of our expected new business volume for 2024 as a whole, which will help to safeguard our growth strategy for future years. Our tireless search for new and attractive product solutions for our customers also contributed to this development. We secured a major order for brake disc cover plates in the reporting quarter, meaning that we have now expanded our already extensive range of products to include an additional use case for chassis components.

The following key performance indicators were achieved in the PWO Group in the first quarter of 2024:

• Revenue: EUR 146.8 million (previous year: EUR 140.9 million)
• EBIT before currency effects: EUR 7.4 million (previous year: EUR 6.8 million)
• EBIT including currency effects: EUR 7.3 million (previous year: EUR 6.1 million) 
• Net income for the period: EUR 3.3 million (previous year: EUR 3.1 million)
• Capital expenditure: EUR 3.8 million (previous year: EUR 2.6 million)
• Free cash flow: EUR 17.3 million (previous year: EUR 6.7 million)
• Equity ratio: 36.0 percent (December 31, 2023: 37.0 percent)
• Lifetime volume of new business: approx. EUR 200 million
  (previous year: approx. EUR 185 million)

Based on the encouraging performance in the first quarter of the new year, we are confirming our forecasts for the current fiscal year. These are based on the assumptions that there will be no major disruptions to supply chains in 2024, for example due to geopolitical tension 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 report on the first quarter of 2024 is published on the PWO website at https://www.pwo-group.com/en/investors-press/news-publications/reports/.
 

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