EDAG Engineering Group AG
/ Key word(s): 9 Month figures/Interim Report
EDAG Engineering Group AG:
Order intake and revenue significantly increased
Arbon, November 10, 2022 EDAG, leading independent engineering services provider to the global mobility industry, today published its final report on the first three quarters of 2022. The preliminary figures published on October 19, 2022 were confirmed.
Revenue for the nine-month period rose by 16.5 percent to EUR 589.7 million (previous year: EUR 506.2 million). In the third quarter, the pace of growth increased again to 19.9 percent. All three segments showed a solid performance. The largest segment, Vehicle Engineering, grew in the first three quarters by 7.8 percent, Production Solutions increased its revenues by 15.3 percent and Electrics/Electronics showed the highest dynamic with a growth of 20.6 percent.
Adjusted EBIT at Group level increased from EUR 23.8 million in the previous year to EUR 37.5 million. This corresponds to an adjusted EBIT margin of 6.4 percent (previous year: 4.7 percent). All three segments increased their profitability compared to the previous year and closed the reporting period with a positive result.
With an order intake of 709.9 million euros in the first nine months, the previous year's figure was significantly increased by 183.2 million euros, representing a rise of 34.8 percent. As of September 30, the company had 8,246 employees worldwide (previous year: 7,874 employees).
Further increasing R&D budgets of our customers and order wins led to a reassessment of the forecast for the revenue development of EDAG in the current financial year.
For the 2022 financial year, revenue growth is now expected to be in a range of around 14 to 16 percent. Adjusted EBIT margin is forecasted in a range of around 6 to 8 percent.
The investment ratio is expected to be in a range of around 4 to 5 percent.
This assessment is largely dependent on Russia's war of aggression and possible further geopolitical disputes, as well as continuing disruptions to global supply chains and further pandemic developments.
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).
Head of Marketing & Communications
Mobile: +49 (0) 173 - 7345473
Head of Investor Relations
Phone: +49 (0) 611- 7375 168
Mobile: +49 (0) 175- 8020 226
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.
10.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - 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:||1483785|
|End of News||EQS News Service|
1483785 10.11.2022 CET/CEST