PWO reports successful start to new fiscal year 2024

EQS-News: PWO AG / Key word(s): Quarterly / Interim Statement
PWO reports successful start to new fiscal year 2024

15.05.2024 / 08:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

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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

PWO Group: Pushing boundaries in lightweight metal solutions

2,000 PRODUCT SOLUTIONS | 3,000 EMPLOYEES | 9 LOCATIONS | OVER 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 subsystems at
the frontiers of what is technologically feasible. We meet the challenges of
our time with innovative and sustainable concepts. And above all, we aim to
seize the opportunities they offer.

As a values-based employer with informal structures at a global level, we
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 in the slogan PEOPLE. PLANET. PROGRESS.


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   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:    1903069

End of News EQS News Service
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1903069 15.05.2024 CET/CEST