Progress-Werk Oberkirch AG
Progress-Werk Oberkirch AG  / Key word(s): Change in Forecast

16.11.2016 16:56

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PWO raises 2016 fiscal year EBIT forecast 

- Forecast for EBIT before currency effects rises to EUR 21 to 22 million 
- Positive business performance continues in October
- Company now confirms revenue forecast of approximately EUR 410 million

Oberkirch, November 15, 2016 - The PWO Group sustained its positive
business performance in the first nine months of 2016 into October. In
addition, call orders for the remainder of the fiscal year are at a stable
and favorable level, which gives us confidence in our upcoming business
performance for the months of November and December.

Above all, we were successful in reducing the risks to our business
performance in the fourth quarter. As discussed in the quarterly statement
for the third quarter and nine months of 2016, these risks related to
potential expenses for quality issues, pressure from material prices and
the potential for delays in tool invoicing.

In the meantime, these influential factors have combined to produce an
overall positive picture allowing us to raise our forecast for EBIT
(earnings before interest and tax) before currency effects to a range of
EUR 21 to 22 million compared to our previous forecast of EUR 20 million.
We confirm our previous revenue expectations of roughly EUR 410 million for
the 2016 fiscal year.

Progress-Werk Oberkirch AG
The Management Board

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Language:     English
Company:      Progress-Werk Oberkirch AG
              Industriestraße 8
              77704 Oberkirch
Phone:        +49 (0)7802 84-347
Fax:          +49 (0)7802 84-789
ISIN:         DE0006968001
WKN:          696800
Listed:       Regulated Market in Frankfurt (Prime Standard), Stuttgart;
              Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg,
              Munich, Tradegate Exchange
End of Announcement                             DGAP News-Service