EDAG Engineering Group AG:
- Revenue up by 23.5% to EUR 193.5 million
- All three segments with double-digit revenue growth
- adjusted EBIT increases to EUR 14.7 million; margin at 7.6%
- Order intake grows dynamically to EUR 266.1 million
- Continued growth for 2022 projected
Arbon, 6 May 2022 EDAG, leading independent engineering services provider to the global mobility industry, starts the first quarter of the current fiscal year with dynamic growth. At EUR 193.5 million, Group revenues were 23.5 percent above the previous year´s level of EUR 156.7 million. All three segments contributed to the increase with double-digit growth.
„With the significant rise in revenue and profit in the first quarter, we have finally left the pandemic-related decline behind us. Thanks to good capacity utilization and continued strict cost discipline, earnings are now well above the pre-crisis level“, explains Cosimo De Carlo, CEO of the EDAG Group. „The very strong order intake in the first quarter leads to an optimistic outlook for the quarters ahead, despite continuing uncertainties.
For fiscal year 2022, EDAG expects accelerated growth momentum and a positive development in key performance indicators. This estimation depends largely on the war in Ukraine and possible further geopolitical disputes, as well as ongoing disruptions in global supply chains and further pandemic developments.
Revenue is expected to grow by around 6 percent to 9 percent.
Outlook to the Annual Shareholder´s Meeting
The EDAG Group is the world's largest independent engineering service provider to the global mobility industry. We regard mobility as a fully integrated ecosystem, and offer our customers technological solutions for more sustainable, emission-free and intelligently networked mobility. With a global network of some 60 branches, EDAG provides engineering services in the Vehicle Engineering, Electrics/Electronics and Production Solutions segments.
With our interdisciplinary expertise in the fields of software and digitalization, we possess the key skills to help actively shape the dynamic transformation process the mobility industry is currently undergoing. Digital features, autonomous driving, artificial intelligence, alternative powertrains, new mobility concepts and the vision of a networked smart city have become an integral part of our portfolio. Embedded in EDAG's own 360 degree approach to the development of complete vehicles and production facilities, we are a competent partner for sustainable mobility projects. It is in the DNA of the company to actively shape the future of mobility and transfer new technologies and concepts into series production. Today, EDAG is one of the TOP 20 IT service providers in the German mobility sector.
Our customers include leading international OEMs, tier 1 suppliers and startup companies from the automotive and non-automotive industries, all of whom we serve globally with our workforce of approximately 8,000 experts in 360-degree engineering.
In 2021, the company generated sales of € 688 million. On December 31, 2021, EDAG employed a global workforce of 7,880 (including apprentices).
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): Industry
06.05.2022 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.
|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:||1344163|
|End of News||DGAP Media|