Progress-Werk Oberkirch AG

DGAP-News: Progress-Werk Oberkirch AG / Key word(s): Incoming Orders

2015-12-10 / 08:00
The issuer is solely responsible for the content of this announcement.

- New business exceeds the EUR 600 million threshold (p/y: EUR 280 million)
- Particularly strong position in lightweight cross-members
- Recognized again as a premium supplier by Continental and Schaeffler

Oberkirch, December 10, 2015 - PWO is enjoying tremendous success on the market. As of today, the Company has reached a record level of new business volume in the 2015 fiscal year: Over EUR 600 million, or more than double the volume of the previous year, has been achieved to date, EUR 40 million of which are related tool orders.

We were particularly successful in acquiring new large series production orders for cockpit cross-members. Business was driven by both first-time orders from new customers as well as follow-on orders for products already in production. Also strong were electric motor housings and air suspension components - two product areas where we expect continued substantial growth in the future.

These new contracts will ensure the development planned at all our locations. New business was especially resilient in China where volumes exceeded our current annual revenues by a factor of five. We will begin manufacturing new product lines at several of our locations so that we may continue to expand our global capabilities. As is common in our business, the new series productions will begin in the years running up to 2018 and will then continue for another five to eight years.

The premier position we enjoy in the market is also highlighted by the recognition we recently received from Continental and Schaeffler. PWO has belonged to these customers' Premium Supplier Circle since the formation of the purchasing cooperation. Of the two companies' more than 1,200 strategic suppliers, only 37 have been awarded this status in the past six years.

Dr. Volker Simon, Speaker of the Management Board, is very pleased with the new business performance in the current fiscal year: "Our customers have proven we are highly competitive. Innovative strength, global presence, quality, and reliable delivery are the factors that make PWO stand out among the rest. Our current high order volume shows that we meet our customers' high standards every day. We would like to extend our thanks to Continental and Schaeffler for their confidence in PWO. We are very honored to receive this recognition and see it as an incentive to continue providing outstanding performance."

Progress-Werk Oberkirch AG
The Management Board

PWO company profile
PWO is one of the world's leading developers and manufacturers of advanced metal components and systems in lightweight construction for automobile safety and comfort. The company has
developed a unique knowledge in the forming and joining of metals over the course of its 95-year history since it was founded in 1919. The German location at Oberkirch today employs around 1,500 staff members. The Group is globally represented with further sites in China, Canada,
Mexico, and the Czech Republic. It employs around 3,100 staff members worldwide.

PW0 is a partner to the global automotive industry for the development and production of innovative products in the divisions of "Mechanical components for electrical and electronic applications", "Safety components for airbags, seats and steering" and "Components and subsystems for vehicle bodies and chassis".

2015-12-10 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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