PWO Reports Strong Performance in Q1 Fiscal Year 2024

Progress-Werk Oberkirch AG (PWO) announced a strong start to the fiscal year 2024, with significant gains in revenue and EBIT. In the first quarter, revenue reached EUR 146.8 million, up from EUR 140.9 million in the prior year. EBIT before currency effects increased to EUR 7.4 million from EUR 6.8 million. The company also reported an increase in net income and free cash flow.

CEO Carlo Lazzarini highlighted the ongoing strategic efforts, including securing a major contract for brake disc cover plates and launching new product solutions. These initiatives are part of PWO's broader strategy to expand its market presence and maintain its growth trajectory.

The company confirmed its forecasts for 2024, predicated on stable supply chains and sufficient energy supplies. The Czechia and China segments were particularly noted for their strong performances this period.