EDAG Engineering Group AG / Key word(s): Preliminary Results/Change in Forecast
EDAG Engineering Group AG: Preliminary key data for H1 and revision of outlook for fiscal year 2019
Arbon, July 29. 2019. EDAG Engineering Group AG (EDAG) has generated a preliminary and unaudited revenue of 390.4 million Euros in H1 2019. The adjusted EBIT levelled at 16.9 million Euros, which corresponds to an adjusted EBIT margin of 4.3%. Earnings after tax were at about 4.5 million Euros.
This development is mainly due to a persistently weak market environment in the segment Production Solutions. The resulting underutilization leads to a negative sales and profit development in this segment.
Against this background as well as the volatile market environment expected in the second half of the year, the Group Management has decided to revise the sales and earnings outlook for the full year 2019.
Revenues are now expected to be at previous year's level +/- round 1%, instead of an increase of up to 5%. The adjusted EBIT-margin is now expected in a range of round 4-5%, instead of the lower end of a range of 5-7%. Earnings after tax are expected to be below 10 million Euros.
The financial report for the first half of 2019 will be released on August 28, 2019.
|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:||848431|
|End of Announcement||DGAP News Service|