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)
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.
As a global player in the mobility industry, we offer our customers innovation-driven solutions and continue to push the boundaries of what is technologically possible in metal forming. In addition, we are focusing even more strongly on sustainability and digitalization and continuing to develop them into the key drivers of our future success.
Carlo Lazzarini, CEO of PWO, says: "With the beginning of the new fiscal year, we are sending a signal of departure for a new path. We are actively shaping the mobility of the future and provide sustainable solutions for the core topics of electrification, safety & comfort."
Dr. Cornelia Ballwießer, CFO of PWO, emphasizes: "PWO possesses tremendous substance and potential in equal measure. We intend to use these advantages to position ourselves even stronger on the capital market in the future."
The 2020 Annual Report presenting PWO's up-to-date equity story will be available as of March 30, 2021 on the company's website at www.progress-werk.de.
Progress-Werk Oberkirch AG
Company Profile PWO
All of the Group's more than 1,000 products contribute to electrification, safety and comfort. More than 90 percent of revenue is independent of the vehicle's type of drivetrain. Approximately 3,000 employees on three continents at five production sites and three assembly plants ensure the highest level of delivery reliability and quality.
|Company:||Progress-Werk Oberkirch AG|
|Phone:||+49 (0)7802 84-844|
|Fax:||+49 (0)7802 84-789|
|Listed:||Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange|
|EQS News ID:||1178546|
|End of News||DGAP News Service|