EDAG Engineering Group AG: Annual shareholders' meeting approves dividend of 0.75 EUR per share - Board of Directors re-elected - Strong start into FY 2018
Arbon, 6 June 2018. The annual shareholders' meeting of EDAG Engineering Group AG took place on June 5th 2018 in Zurich. Chairman of the Board Thomas Eichelmann led the event and the Group Executive Management presented the development of the financial year 2017.
Group revenues increased from 715 million Euros to 717 million Euros. The adjusted EBIT levelled at 32.6 million Euros (previous year: 43.8 million Euros). From the second half of 2017, a positive business dynamic started, which is also confirmed in the current year. As a result, sales in the first quarter of 2018 were up 8.3%. The adjusted EBIT increased by 9.1% in the same period.
"International business in particular developed very well and contributed to the growth in sales and earnings", explained Cosimo De Carlo, CEO of the EDAG Group. "The market is developing dynamically and EDAG is very well positioned for further growth in this environment."
The shareholders' meeting approved the group financial statements for 2017 and positively decided on the payment of a dividend of EUR 0.75 per share. The dividend will be paid out from June 8th 2018.
The members of the Board of Directors as well as the Group Executive Management have been exonerated. Moreover the Board of Directors and Mr. Thomas Eichelmann as Chairman of the Board of Directors have been re-elected for a further year.
Deloitte AG, Zurich, has been elected as auditor for the financial year 2018.
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 2017, the company generated revenues of EUR 717 million and an adjusted EBIT of EUR 32.6 million. As at 31 December 2017, 8,404 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
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|