Arbon, August 11th, 2016. EDAG Engineering Group AG, leading independent engineering services provider to the global automotive industry, records a further growth in revenues according to preliminary figures for the first half of 2016. The overall performance increased by 2% to 362 m. EUR in the first six months (355 m. EUR in the previous year). The positive development is also reflected in the number of staff - 8,267 people were employed at June 30th 2016 (previous year: 7,761 employees). The preliminary adjusted EBIT levels at 22.5 m. EUR (35.4 m. EUR in the previous year). For the full year, a moderate revenue growth in the lower single-digit percentage range and an adjusted EBIT-margin of 6-8% is expected. The dividend shall remain stable with 0.75 Euros per share.
Proactive approach in a challenging market environment
Market trends offer chances for further growth
The full report for the first half of 2016 will be published on August 24th.
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.
This release contains forward-looking statements. These statements are based on current estimates and projections of EDAG Executive Board and currently available information. They are not guarantees of future performance, involve certain risks and uncertainties that are difficult to predict, and are based upon assumptions as to future events that may not be accurate. Many factors could cause the actual results, performance or achievements of EDAG to be materially different from those that may be expressed or implied by such statements. EDAG does not assume any obligation to update the forward-looking statements contained in this release.
End of Media Release
Document title: EDAG press release H1 2016 (preliminary results)
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|