Progress-Werk Oberkirch Aktiengesellschaft Reports Preliminary Consolidated Results for the Year 2015; Provides Earnings Guidance for the Year 2016
Based on a conservative plan for fiscal year 2016, the company forecast revenue of roughly EUR 410 million and EBIT of EUR 20 million. Despite the only marginal increase in revenue, EBIT is thus expected to increase by more than 10% compared to the level of EUR 18.1 million reported in fiscal year 2015. The revenue and EBIT forecasts are based on hedged exchange rates as per end of 2015. After achieving record new business in 2015 of roughly EUR 600 million (as reported earlier), The company expects to generate a similar volume of new business in 2016. The company very optimistic with regard to the Group's future growth, which will be greatly boosted by its ever more successful international business.