Brief: Progress Werk Oberkirch 9-month EBIT Down At EUR 17.6 Million

PWO AG

19/10/2018 14:56

Oct 19 (Reuters) - Progress Werk Oberkirch AG  PWOG.DE :
    * PROGRESS WERK OBERKIRCH - WILL NOT ACHIEVE PRIOR FORECAST
FOR
2018 AND PRESUMES THAT IT WILL NOT REACH ITS MID-TERM FORECAST
    * WEAKER SALES OF AUTOMOBILE MANUFACTURERS WEIGH ON PWO
    * 9-MONTH REVENUES AMOUNTED TO EUR 356.7 MILLION (P/Y: EUR
346.0
MILLION
    * 9-MONTH TOTAL OUTPUT INCREASED TO EUR 366.0 MILLION (P/Y:
EUR
363.0 MILLION)
    * 9-MONTH EBIT BEFORE CURRENCY EFFECTS TOTALED EUR 17.6
MILLION
(P/Y: EUR 18.7 MILLION).
    * REVENUE IS EXPECTED TO GROW SOMEWHERE IN RANGE OF EUR 475
MILLION TO EUR 480 MILLION IN 2018
    * SEES FY EBIT WILL FALL SIGNIFICANTLY SHORT OF PREVIOUS
YEAR'S
FIGURE OF EUR 23.4 MILLION
    * WILL PRESUMABLY NOT ACHIEVE ITS PREVIOUS FORECAST FOR 2020

Source text for Eikon:  ID:nEQqXLVWa 
Further company coverage:  PWOG.DE 

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