EDAG Engineering Group AG: further revenue growth in first half of 2016 (news with additional features)

DGAP-Media / 2016-08-11 / 12:07

press release

EDAG Engineering Group AG: further revenue growth in first half of 2016

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
In order to optimize results, the management has improved the cost basis with a package of measures that will have an enhancing positive impact in the course of the year. Supplementary selective measures are intended to help setting forth the positive development. The expertise of new professionals in all departments shall support the further growth of EDAG in particular. In the current training year, EDAG was happy to welcome about 200 new trainees who wanted to learn their dream job and set the basis for their career. "Exciting projects all around the mobility of the future offer applicants excellent development prospects in a constantly changing industry", explained Joerg Ohlsen, CEO of EDAG.

Market trends offer chances for further growth
OEMs and their suppliers are facing tremendous challenges due to the technological change in the automotive industry. In this context some OEM are currently adjusting their model portfolio and reallocating their R&D-budgets. EDAG considers the long term trends in the automotive industry such as environmentally friendly mobility, automated driving, digitalization as well as an increasing number of drive variants as intact.The demand for international engineering services is considered to be further growing, as OEMs and their suppliers are subject to a continued high pressure for innovations and additional cost savings at the same time. "With our efficient and globally interconnected structures we can make a substantial contribution to these needs. In our product portfolio we focus on four pillars: In the areas of complete vehicle development, E-mobility and lightweight design we offer an excellent expertise in the international environment to our customers. This is complemented with the second pillar, the interconnected engineering of production plants, which is a unique selling point of EDAG. The third focus is Electrics/Electronics, where we offer solutions around the megatrends like connectivity, driver assistance systems and autonomous driving. New added as fourth pillar is the brand spin-off "", that is positioned future-oriented in the field of digitalization", said Joerg Ohlsen. The management is confident that the EDAG business model continues to be successful. The medium-term revenue and earnings expectations are maintained.

The full report for the first half of 2016 will be published on August 24th.



About EDAG

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.

Press contact:

Public Relations
Christoph Horvath
Press Officer EDAG Group
Phone:+49 (0) 661- 6000 570

Investor Relations
Sebastian Lehmann
Head of Investor Relations
Phone:+49 (0) 611- 7375 168

Forward-looking statements

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

Additional features:

Document title: EDAG press release H1 2016 (preliminary results)

Issuer: EDAG Engineering Group AG
Key word(s): Services

2016-08-11 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.
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