EANS-Adhoc: Progress-Werk Oberkirch AG / PWA reports gratifying trends in 2010 financial year

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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14.02.2011

- Revenue and EBIT exceed forecast
- Net income and earnings per share ahead of expectations due to lower tax rate

Oberkirch, February 14, 2011 - As the result of a strong fourth quarter,
Progress-Werk Oberkirch AG has exceeded its 2010 consolidated revenue forecast
of more than EUR 250 million and EBIT forecast of around EUR 15 million. These
forecasts were upgraded during the course of the year. The figures are
preliminary.

Consolidated revenue was up by 28.0 percent to EUR 264.2 million in 2010
(p/y: EUR 206.4 million) and total output increased by 30.9 percent to EUR 270.7
million (p/y: EUR 206.8 million). EBIT reached EUR 16.0 million (p/y: EUR -4.9
million). Currency effects made a small positive contribution of EUR 0.6 million
to consolidated earnings, as a consequence of which the forecast was exceeded
also excluding these impacts.

At approximately EUR 6.5 million, net income for the year was significantly
higher than anticipated to date (p/y: EUR -8.9 million) and earnings per share
amounted to almost EUR 2.60 (p/y: EUR -3.58). This arises from the first-time
recognition of the tax credits due to an investment development scheme at our
location in the Czech Republic, thereby reducing the Group's tax rate in the
2010 financial year to prospectively around 34 percent.

All sites contributed to the positive trend in the 2010 financial year. Our
German plant remains our Group benchmark. We have reached the profitability zone
on a sustainable basis in the Czech Republic. Our sites in the NAFTA region
reported good trends, and the expansion in China continues to run to schedule.

Net income results for the coming financial years will also be further
strengthened by the recognition of tax credits. We anticipate Group revenue to
grow at up to 15 percent per year until 2012, and a further marked earnings
improvement, on the basis of orders already on hand. These pleasing prospects
provide us with the scope to not only further strengthen our balance sheet, but
also return to a shareholder-friendly dividend policy.

We will publish our final figures for the 2010 financial year on March 15, 2011
at a press and analysts conference, and the 2010 annual report will be available
on the PWO website from March 31 (www.progress-werk.de).

Progress-Werk Oberkirch AG
The Management Board

PWO company profile
PWO is one of the world's leading suppliers of advanced metal components for
automobile safety and comfort. The company has developed unique knowledge in the
forming and joining of metals over the course of its over 90-year history since
it was founded in 1919. The German location at Oberkirch today employs around
1,200 staff members. The Group is globally represented with further sites in
China, Canada, Mexico and the Czech Republic, and employs around 2,100 staff
around the world.

PW0 is a partner to the global automotive industry for the development and
production of innovative products in the areas of "Mechanical components for
electrical and electronic applications", "Safety components for airbags, seats
and steering" and "Components and systems for vehicle bodies and chassis".

Further inquiry note:
Bernd Bartmann (CFO)
Phone: +49 7802 / 84-347
Fax: +49 7802 / 84-789
e-Mail: bernd.bartmann@progress-werk.de
end of announcement euro adhoc
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issuer:      Progress-Werk Oberkirch AG
             Industriestraße 8
             D-77704 Oberkirch
phone:       +49(0)7802 84-0
mail:        info@progress-werk.de
WWW:         http://www.progress-werk.de
sector:      Automotive Equipment
ISIN:        DE0006968001
indexes:

stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Hamburg, Stuttgart, Düsseldorf, München
language: English

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