EDAG Engineering Group AG: EDAG continues growth in 2016

DGAP-Media / 2016-08-24 / 07:30

EDAG continues growth in 2016

Arbon, August 24th 2016. EDAG, leading independent engineering services provider to the global automotive industry, continues its growth course in 2016. After a significant growth in 2015, revenues in H1 2016 were increased by 2 percent to 362 million Euros. All business segments contributed to this growth.

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 adjusted EBIT levelled at 22.5 million Euros, compared to 35.4 million Euros in the previous-year. The adjusted EBIT-margin was at 6.2% (previous year: 10%). 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.

High attractiveness as an employer
Compared to the previous year, EDAG created more than 500 new jobs. CEO Joerg Ohlsen underlines: "I am very happy that EDAG inspires so manycommitted employees. We offer various challenges in an exciting market environment to our staff members. This, together with good working conditions, makes EDAG a great place to work." To offer ideal framework furthermore, EDAG put a new training center in Fulda into operation at the beginning of August. On a total area of 1,200 square meters up to 100 people can be trained simultaneously.

Further expansion of location structures
The next important milestone in the development of the EDAG Group is imminent. On September 2nd, the new development center in Wolfsburg will be opened. More than 1,000 employees can cooperate interdisciplinary in the spacious new premises. In addition to classic engineering competences, in particular activities in the emerging areas of e-mobility and lighting engineering can be offered. Especially in these areas, EDAG is well-positioned for the requirements of the mobility of the future.

Selected financial information for H1 2016

 01.01.15 - 30.06.1501.01.16 - 30.06.16
Core revenues (in EUR mn)355.2362.4
Adjusted EBIT (in EUR mn)35.422.5
EAT (in EUR mn)20.39.5
Net debt (in EUR mn on reporting date)133.9143.1
Gross Investments (in EUR mn)12.416.8
Equity ratio (in % on reporting date)27.431.1

Ad hoc disclosure from August 23rd, 2016
Yesterday, the company announced by way of ad hoc disclosure that ATON intends to make on-exchange shares purchases of up to 1,000,000 shares during the period until 29 May 2017.
Additionally the company communicated that it will make an extraordinary repayment instalment in the amount of EUR 20 million until 31 August 2016 upon an agreement with its lender in order to optimize the financing structure. The currently outstanding loan amount is approximately EUR 133 million and has an interest rate of 5% per annum.

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

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

2016-08-24 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.
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