EDAG Engineering Group AG:
Arbon, 8 May 2019. EDAG, a leading independent engineering services provider to the global automotive industry, had a successful start into the fiscal year 2019. Revenues in the first three months increased by 2.2% to EUR 197.9 million (previous year: EUR 193.7 million). Order intake was particularly positive. Orders worth EUR 288 million were won, an increase of 12.5% over the previous year. The adjusted EBIT was at EUR 11 million (previous year: EUR 13.7 million). On March 31st 2019, EDAG had 8,641 employees (previous year: 8,364 employees).
"Our market continues to offer attractive growth opportunities, which we are proactively addressing with our solutions", says Cosimo De Carlo, CEO of the EDAG Group. "With the consistent implementation of our strategic growth program "REinvent", we are continuing our international growth and strengthening our competencies in the field of digitalization. In this area in particular, we recorded above-average growth in the first quarter. As an innovation driver for new technologies, EDAG plays a decisive role in shaping the mobility of the future".
The segments Vehicle Engineering and Electrics/Electronics recorded a positive development for sales and margin in the first quarter. The segment Production Solutions had a challenging start into the year. Against this background, management has decided on a package of measures to increase profitability in this segment.
The management is confident for 2019. For the full year, an increase in revenues of up to 5% and an adjusted EBIT-margin at the lower end of 5-7% is expected.
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, digitalization, integral safety and new production technologies.
In financial year 2018, the company generated revenues of EUR 792 million and an adjusted EBIT of EUR 47.6 million. As at 31 December 2018, 8,641employees (including apprentices) worked for EDAG all over the world.
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, Hamburg, Munich, Stuttgart|
|EQS News ID:||808101|
|End of News||DGAP Media|