Arbon, May 11th 2016. EDAG, leading independent engineering services provider to the global automotive industry, continues its growth course at the beginning of 2016. After a significant growth in 2015, revenues in Q1 2016 were increased by about 5 percent to 182.5 million Euros. All business segments contributed to this growth.
The positive development is also reflected in the number of staff - 8,249 people were employed at March 31st 2016 (previous year: 7,587 employees). The adjusted EBIT levelled at 13 million Euros and was 4.5 million Euros below the previous-year figure, due to a lower productivity and working day effects. For the full year, the executive Management expects an increase in revenues in a range of 7- 10% and a moderate growth of the adjusted EBIT compared to 2015.
The annual shareholder's meeting will take place on May 31st 2016 in Zurich. The invitation has been published on May 9th 2016 and is available at ir.edag.com. A main resolution item will be the payment of a planned dividend of 0.75 Euro per share.
EDAG is an independent engineering services provider to the global automotive industry. The company serves leading domestic and international vehicle OEMs and sophisticated automotive suppliers through a global network of about 60 sites in major automotive centres of the world.
EDAG offers complementary engineering services across its Vehicle Engineering, Electrics/Electronics and Production Solutions businesses. Based on these extensive capabilities, EDAG can support clients across the entire value chain from the original design idea to product development and prototype construction all the way to the delivery of turnkey production systems. As a technology and innovation leader, EDAG also operates established centres of excellence that design landmark technologies for future applications in the automotive industry, lightweight construction, electric mobility, car IT and new production technologies.
In financial year 2015, the company generated core revenues of EUR 722 million and an adjusted core EBIT of EUR 72.9 million. As at 31 December 2015, 8,139 employees (including apprentices) worked for EDAG in 19 countries.
End of Media Release
Issuer: EDAG Engineering Group AG
Key word(s): Services
|Company:||EDAG Engineering Group AG|
|Phone:||+41 71 54433-0|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart|
|End of News||DGAP Media|