EDAG Engineering Group AG / Key word(s): Change in Forecast/Preliminary Results
EDAG Engineering Group AG: Increase of revenue forecast following very strong third quarter
Arbon, October 19th, 2022. According to preliminary, unaudited figures, EDAG Engineering Group AG (EDAG) has generated revenues of 589.7 million Euros in the first nine month of 2022. This corresponds to an increase of 16.5 percent against the previous year´s figure.
The preliminary adjusted EBIT1 for the first three quarters 2022 levelled at 37.5 million Euros. This corresponds to an adjusted EBIT margin of 6.4 percent and an increase in the adjusted EBIT of 13.7 million Euros against the previous year.
The order intake in Q3 2022 levelled at 277.1 million Euros and was thus significantly exceeding the previous quarter(Q2 2022: 166.7 million Euros), leading to a total order intake after nine months of 709.9 million Euros. This corresponds to an increase of 34.8 percent or 183.2 million euros compared with the prior-year period.
Further increases in our customers' R&D budgets and order wins lead to a reassessment of the forecast for the EDAG revenue development in the current fiscal year. The EDAG Group Management now expects a revenue growth in a range of around 14 to 16 percent for the full year 2022, having previously expected the upper end of a range of around 6 to 9 percent.
The adjusted EBIT margin is expected to remain unchanged in a range of around 6 to 8 percent.
The full report for the third quarter 2022 will be published on November 10th, 2022.
1 „adjustedEBIT“ is defined in the Annual Report 2021, page 160, which is available at www.edag.com
19-Oct-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|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:||1467277|
|End of Announcement||EQS News Service|
1467277 19-Oct-2022 CET/CEST