News-Detail

29.07.2019

EDAG Engineering Group AG: Preliminary key data for H1 and revision of outlook for fiscal year 2019

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

29-Jul-2019 / 21:50 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


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.
Therefore, the Group Management has increased the funds for restructuring measures to an amount of up to 8 million Euros. The main objective of the restructuring measures is to sustainably improve the performance of the Production Solutions segment, so that profitable growth can be achieved again in the medium term. In the fiscal year 2019 though, the restructuring measures will have a negative impact on earnings after tax.
 

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 segment Production Solutions now expects a negative adjusted EBIT in a single-digit percentage range. The forecasts for the segments Vehicle Engineering and Electrics/Electronics remain unchanged.
 

The financial report for the first half of 2019 will be released on August 28, 2019.


"adjustedEBIT" is defined in the Annual Report 2018, page 206, which is available at ir.edag.com


Contact:
Sebastian Lehmann
Head of Investor Relations

EDAG Engineering Group AG
Schlossgasse 2
9320 Arbon
Schweiz
Tel.: +41 (0)71 544 33 - 11
Fax: +41 (0)71 544 33 - 10
ir@edag-group.ag
ir.edag.com


Contact in Germany:

EDAG Engineering GmbH
Kreuzberger Ring 40
65205 Wiesbaden
Tel.: +49-611-7375-168
Mobil: +49-175-8020226
Email: Sebastian.Lehmann@edag.de
legal@edag.de
www.edag.de


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