EDAG Engineering Group AG:
- Order intake 2016 at EUR 744.9 mn. above previous year's level
- Revenues of EUR 715 mn. at high level
- Stabilization of adjusted EBIT at the end of 2016
- Proposal for dividend of EUR 0.75 per share
- For 2017 growth in revenues and earnings with increasing momentum in the course of the year expected
Arbon, 05 April 2017 EDAG, a leading independent engineering services provider to the global automotive industry, comes with a high order intake from the financial year 2016. In total, orders worth EUR 744.9 million could be booked in 2016 (previous year: EUR 731.4 million), the order backlog at the end of the year levelled at EUR 318.9 million (previous year: EUR 287.3 million).
In an intense competitive environment, the company succeeded to achieve revenues of EUR 715 million which is almost at previous year's level (EUR 722 million). The adjusted EBIT was at EUR 43.8 million (previous year: 72.6 million). The adjusted EBIT margin of 6.1 percent (previous year: 10.1 percent) shows a stable tendency.
The equity ratio 2016 rose further from 32.6 percent to 35.5 percent. On 31 December 2016, EDAG had 8,270 employees, an increase of about 1.5 percent compared to previous year (8,139 employees).
Particularly pleasing to the shareholders: The Board of Directors will propose the distribution of a dividend of EUR 0.75 per share to the General Meeting on 31 May 2017.
"2016 was a challenging year for us", says Joerg Ohlsen, CEO of the EDAG Group. "I am proud of having implemented important measures for a sustainable success together with my team under difficult market conditions. We could already notice positive impacts in the order intake and margins throughout the last quarter, so we are well prepared for the new business year. In 2017, we will expand our competencies especially in the e-mobility as well as the field of integral safety and assist our customers as a technology partner. With our committed employees and global competencies, we want to participate relevantly in market opportunities."
Positive outlook: Growth in revenues and earnings expected for 2017
Automotive manufacturers and their suppliers continue to invest high amounts into research and development. The increasing number of drive variants, new platforms with purely electric engines and the increasing networking of driver, car and the environment contribute to a high demand for engineering services. Additionally, new international customer relations promise further potential for growth.
EDAG is positioning itself optimally as an independent development partner with outstanding competencies and a global network of locations in order to continue to benefit from the positive - albeit challenging - market conditions. Against this background, the management expects an increase in revenues of up to 5% and an adjusted EBIT-margin of approximately 6-8%.
Selected financial information for financial year 2016
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, integral safety and new production technologies.
In financial year 2016, the company generated revenues of EUR 715 million and an adjusted EBIT of EUR 43.8 million. As at 31 December 2016, 8,270 employees (including apprentices) worked for EDAG in 19 countries.
Press Officer EDAG Group
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|