DGAP-Ad hoc: Progress-Werk Oberkirch AG

DGAP-Adhoc: Progress-Werk Oberkirch AG: PWO raises 2016 fiscal year EBIT forecast

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

16.11.2016 16:56

Disclosure of an inside information according to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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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

16.11.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

--------------------------------------------------------------------------- Language: English Company: Progress-Werk Oberkirch AG Industriestraße 8 77704 Oberkirch Germany Phone: +49 (0)7802 84-347 Fax: +49 (0)7802 84-789 E-mail: ir@progress-werk.de Internet: www.progress-werk.de 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 ---------------------------------------------------------------------------