EQS-News: PWO Group on track in the nine-month period of 2024

PWO Group on track in the nine-month period of 2024

Carlo Lazzarini (CEO): "We have done our homework in recent years and strengthened our resilience. That is why we can continue to pursue our corporate strategy even in challenging times."

• The strong new business of recent years is currently offsetting weaker customer call-offs
• Our forecasts for revenue, earnings and balance sheet key figures in the 2024 financial year can be confirmed
• New business exceeds expectations

Oberkirch, November 13, 2024 – The PWO Group is actively implementing its future-oriented corporate management. Weaker customer call-offs are currently slowing our growth and affecting EBIT in addition to start-up costs. However, well-established control mechanisms allow us to respond effectively on the cost side as well. This underscores our ability to quickly adapt the company to the respective market conditions.

In the nine-month period of 2024, the following key figures were achieved in the PWO Group:

• Revenue: EUR 421.2 m (previous year: EUR 417.3 m)
• EBIT before currency effects: EUR 22.1 m (previous year: EUR 23.9 m)
• EBIT including currency effects: EUR 21.6 m (previous year: EUR 23.6 m)
• Net income for the period: EUR 9.7 m (previous year: EUR 13.0 m)
• Capital expenditure: EUR 24.4 m (previous year: EUR 18.2 m)
• Free cashflow: EUR 22.8 m (previous year: EUR 8.9 m)
• Equity ratio: 36.0 percent (12/31/2023 37.0 percent)
• Lifetime volume of new business: around EUR 525 m (previous year: around EUR 810 m)

Beyond the careful management of our current business, our efforts are primarily focused on taking advantage of market opportunities. In the nine-month period, we were again very successful in new business and see ourselves well positioned for further customer awards in the fourth quarter. Therefore, we can increase our new business forecast for the current financial year and now expect a lifetime volume of around EUR 630 to 680 million (previously: around EUR 550 to 600 million). With this, we want to achieve a high volume again, even though various customer projects are currently being postponed and will only be awarded in 2025.

The ramp-up of our new engineering and production site in Serbia and the further expansion of our two Czech sites are on schedule. This will make Eastern Europe an important production focus for the PWO Group in the future. Manufacturing at the group's German home location in Oberkirch is also being further adapted to the requirements of the future and has been strengthened by significant new business in the nine-month period, as have all our other locations. In addition, our product range has been expanded to include components for braking systems, and we have been able to win new customers who we will supply in China and Mexico in the future.

Our development is based on the solid foundation of a strong balance sheet and a consistently high free cash flow. We are continuously refining the control of the individual positions and thus releasing further resources.

The report for the nine-month period 2024 will be published on the PWO website at https://pwo-group.com/en/investors-press/news-publications/reports/.

PWO AG
The Board

Contact:
Charlotte Frenzel
Corporate Communications & Investor Relations
T. +49 179 / 6904 237
M. charlotte.frenzel.ext.ma@pwo-group.com

PWO AG
Industriestraße 8
77704 Oberkirch
pwo-group.com

PWO Group: Pushing boundaries in lightweight metal solutions

2,000 product solutions | 3,000 employees | 10 locations | over 100 years of experience

We are a global company in the mobility industry that shapes the environmentally friendly mobility of the future through innovations and is completely positioned 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 manufacture sophisticated metal components and complex systems at the limit of what is technologically feasible. We meet the challenges of our time with innovative and sustainable concepts. Above all, we want to seize the opportunities that lie within it.

As a values-oriented employer with family-like structures on a global level, we offer our employees a meaningful environment for realizing their personal perspectives. Transparent and responsible corporate management is an essential part of our self-image.

Our corporate strategy is based on the motto PEOPLE. PLANET. PROGRESS. summarized.