PWO AG Reports Positive Annual Financial Results and Proposes Increased Dividend

PWO AG confirmed its provisional figures for fiscal 2023, showcasing a successful year with significant financial achievements. The approved annual financial statements revealed a rise in revenue from EUR 530.8 million to EUR 555.8 million. Moreover, EBIT before currency effects increased from EUR 27.5 million to EUR 28.2 million. The company also reported a notable improvement in free cash flow, turning last year's negative EUR 5.8 million to a positive EUR 11.3 million. Reflecting on the sustained financial health, PWO AG decided to propose an increased dividend of EUR 1.75 per share for 2023, up from the previous year's EUR 1.65 per share.

The forecast for 2024 remains optimistic, with expected further improvements in revenue to around EUR 570 million and EBIT before currency effects estimated between EUR 29 million and EUR 32 million. PWO AG is also planning significant capital investments of around EUR 40 million. These future projections are underpinned by the company's strategic and operational developments, including the setup of a new production site in Serbia to bolster its presence in Eastern Europe. Despite geopolitical tensions, the corporation maintains a cautiously optimistic outlook for 2024, predicting steady supply chain operations and sufficient energy availability.