EDAG Engineering Group AG: Increase in revenues and strong order intake in Q1 2019

EDAG Engineering Group AG:
Increase in revenues and strong order intake in Q1 2019
 

Arbon, 8 May 2019. EDAG, a leading independent engineering services provider to the global automotive industry, had a successful start into the fiscal year 2019. Revenues in the first three months increased by 2.2% to EUR 197.9 million (previous year: EUR 193.7 million). Order intake was particularly positive. Orders worth EUR 288 million were won, an increase of 12.5% over the previous year. The adjusted EBIT was at EUR 11 million (previous year: EUR 13.7 million). On March 31^st 2019, EDAG had 8,641 employees (previous year: 8,364 employees).

"Our market continues to offer attractive growth opportunities, which we are proactively addressing with our solutions", says Cosimo De Carlo, CEO of the EDAG Group. "With the consistent implementation of our strategic growth program "REinvent", we are continuing our international growth and strengthening our competencies in the field of digitalization. In this area in particular, we recorded above-average growth in the first quarter. As an innovation driver for new technologies, EDAG plays a decisive role in shaping the mobility of the future".

The segments Vehicle Engineering and Electrics/Electronics recorded a positive development for sales and margin in the first quarter. The segment Production Solutions had a challenging start into the year. Against this background, management has decided on a package of measures to increase profitability in this segment.

The management is confident for 2019. For the full year, an increase in revenues of up to 5% and an adjusted EBIT-margin at the lower end of 5-7% is expected.

Outlook to the Annual Shareholder's Meeting
The Annual Shareholder's Meeting will take place on June 5^th 2019 in Zurich. A main resolution item will be the payment of a planned dividend of 0.75 Euro per share. Following the Annual General Meeting, Mr Holger Merz will take over the position of CFO from Mr Jürgen Vogt.

About EDAG
EDAG is an independent engineering services provider to the global automotive industry. The company serves leading domestic and international vehicle OEMs and sophisticated automotive suppliers through a global network of about 60 sites in major automotive centres of the world.

EDAG offers complementary engineering services across its Vehicle Engineering, Electrics/Electronics and Production Solutions businesses. Based on these extensive capabilities, EDAG can support clients across the entire value chain from the original design idea to product development and prototype construction all the way to the delivery of turnkey production systems. As a technology and innovation leader, EDAG also operates established centres of excellence that design landmark technologies for future applications in the automotive industry: lightweight construction, electric mobility, digitalization, integral safety and new production technologies.

In financial year 2018, the company generated revenues of EUR 792 million and an adjusted EBIT of EUR 47.6 million. As at 31 December 2018, 8,641employees (including apprentices) worked for EDAG all over the world.

 

Press contacts:

Public Relations
Christoph Horvath
Press Officer EDAG Group
Phone: +49 (0) 661- 6000 570
Mail: pr@edag.de
www.edag.de
 

Investor Relations
Sebastian Lehmann
Head of Investor Relations
Phone: +49 (0) 611- 7375 168
Mail: ir@edag-group.ag
ir.edag.de

Forward-looking statements

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.