EANS-News: Progress-Werk Oberkirch AG / PWO reports preliminary results for 2011

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annual result

Subtitle: - Significant rise in sales and EBIT in 2011
- Earnings per share increases disproportionately by 40 percent
- International locations show a turnaround in earnings
- Further growth expected in 2012

Oberkirch (euro adhoc) - Oberkirch, February 16, 2012 - Today,
Progress-Werk Oberkirch AG released its preliminary results for
fiscal year 2011.

Consolidated sales rose significantly by 25.3 per cent to EUR 331.1
million (p/y: EUR 264.2 million). Here we benefitted from both higher
volumes in our running production as well as with the start-up and
ramp-up of new series. In addition, sales included approximately EUR
20 million in material price increases. Total output increased by
21.5 per cent to EUR 328.8 million (p/y: EUR 270.7 million).

EBIT rose to EUR 19.2 million (p/y: EUR 16.0 million). Currency
effects had a positive effect and amounted to EUR 1.0 million (p/y:
EUR 0.6 million). The tax rate continued to decline as expected. Net
income for the period and earnings per share therefore showed an
above-average increase of around 40 per cent to EUR 9.0 million (p/y:
EUR 6.5 mil-lion) and EUR 3.61 per share (p/y: EUR 2.58).

The positive performance in fiscal year 2011 can also be attributed
to our international locations which contributed EUR 1.1 million to
EBIT (p/y year: EUR -1.9 million).

Based on current call orders and estimates of our customers, we
expect a further considerable increase in sales and an above-average
improvement in our earnings in 2012.

The final figures for fiscal year 2011 will be published at our
analyst and press conference on March 14, 2012. As of March 30, 2012,
the annual report 2011 will be accessible on our PWO homepage
(www.progress-werk.de).

Progress-Werk Oberkirch AG
The Management Board

PWO company profile PWO is one of the world's leading suppliers of
advanced metal components for automobile safety and comfort. The
company has developed unique knowledge in the forming and joining of
metals over the course of its over 90-year history since it was
founded in 1919. The German location at Oberkirch today employs
around 1,400 staff members including temporary workers. The Group is
globally represented with further sites in China, Canada, Mexico and
the Czech Republic, and em-ploys around 2,600 staff around the world
including temporary workers.

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

Further inquiry note:
Bernd Bartmann (CFO)
Phone: +49 7802 / 84-347
Fax: +49 7802 / 84-789
e-Mail: bernd.bartmann@progress-werk.de

end of announcement euro adhoc
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company: Progress-Werk Oberkirch AG
Industriestraße 8
D-77704 Oberkirch
phone: +49(0)7802 84-0
mail: info@progress-werk.de
WWW: http://www.progress-werk.de
sector: Automotive Equipment
ISIN: DE0006968001
indexes:
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English