The PWO Group has reported stable financial performance through the first nine months of 2025 despite ongoing challenges in the global automotive industry and geopolitical instability. The company achieved revenue of EUR 403.4 million compared to EUR 421.2 million in the previous year, with EBIT before currency effects reaching EUR 21.8 million, nearly matching the previous year's EUR 22.1 million. CEO Carlo Lazzarini attributed the company's resilience to deepening customer relationships, stating that customers are involving PWO in development projects at increasingly early stages.
This collaborative approach enables the joint realization of modern lightweight construction solutions at the limits of technological feasibility, positioning the company to shape future mobility. Series productions and ramp-ups from strong new business in recent years have largely compensated for current market weakness. The company maintained success in new business development, securing first orders from various new customers including both automotive manufacturers and suppliers. During the nine-month period, PWO added these customers to its portfolio across multiple locations, with three new orders specifically for its Serbia location in the third quarter alone, securing planned growth in that region.
The lifetime volume of new business reached approximately EUR 535 million, up from around EUR 525 million in the previous year. Capital expenditure increased to EUR 28.2 million from EUR 24.4 million in the previous year as the company continues investing in buildings, equipment, and employee development to prepare for extensive new series launches across all locations. This strategic investment contributed to a slightly negative free cash flow of EUR -2.9 million compared to EUR 22.8 million in the previous year, though the company expects this to be offset in the fourth quarter.
PWO confirms its forecasts for the full 2025 fiscal year, expecting revenue in the range of EUR 500-510 million and EBIT before currency effects between EUR 23-28 million. The company considers the upper half of the EBIT range an ambitious target but remains focused on 2026 and beyond. Planned investments of approximately EUR 40 million will further expand the company's market position, with positive free cash flow expected in the low single-digit million euro range. The company maintains a stable equity ratio of 37.7% as of September 2025, slightly up from 37.5% at the end of 2024, and targets a net debt ratio below 2.5 years. In new business, PWO aims for lifetime volume between EUR 550-600 million. The complete report on the first nine months of 2025 is available on the PWO website.
