11.11.2016
EDAG Engineering Group AG CH0303692047
EDAG Engineering Group AG: On course
DGAP-Media / 11.11.2016 / 07:30
Arbon, November 11th 2016. EDAG, leading independent engineering services
provider to the global automotive industry, shows a solid development in
the first nine months of 2016. Revenues were more or less flat at previous
year's level of about 534 million Euros. A particularly pleasing
development was the further growth in the segments Vehicle Development and
Production Solutions.
The adjusted EBIT levelled at 32.4 million Euros, compared to 54.8 million
Euros in the previous-year. The adjusted EBIT-margin was at 6.1% (previous
year: 10.3%). The margin has improved in the third quarter compared to the
previous quarter. The same applies for the operative cash flow that has
increased from -16.3 million Euros in the previous year to 10.3 million
Euros. 8,337 people were employed at September 30th, 2016 (previous year:
8,063 employees).
The market for engineering services will continue to benefit from high
investments into research and development by OEM and their suppliers. The
dynamics are driven e.g. by trends like autonomous driving, e-mobility and
digitalization. The current order intake indicates that the order backlog
by the year end will be above the previous year's level. Against this
background, the management is confident that the positive development of
the company will continue.
For the full year, revenues at or slightly above previous year's level and
an adjusted EBIT-margin of 6-8% is expected.
Fascinating jobs at an attractive employer
The increased number of staff is particularly based on a very successful
start of the new training year. Overall, 208 young people decided to start
their career in the exciting environment of an engineering service
provider. At a central welcoming event in Fulda, the new trainees got to
know the diverse career opportunities at the EDAG Group and could establish
first contacts. Particularly pleasing is the training rate of EDAG being
above 8% in Germany, again this year. This also reflects EDAG's high
attractiveness as employer and the success of a sustainable human resources
work.
Concepts for the mobility of tomorrow
From September 22nd to 29th the EDAG Group showed innovative concepts at
the IAA for Commercial Vehicles in Hannover. In addition to samples for an
intelligent independent wheel suspension integration and lightweight
solutions for commercial vehicles, a modular battery system for electric
buses caught the attention. In combination with a new battery management
system and a solution for rapid charging, EDAG presented a complete
electric solution for the future of transport in urban areas. "Our
innovations once again show the potential of EDAG as technical partner for
the automotive industry. It is our aim, to shape the technical change
together with our clients and to contribute to a sustainable mobility with
our concepts", said Joerg Ohlsen, CEO of the EDAG Group.
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, car IT and new production technologies.
In financial year 2015, the company generated core revenues of EUR 722
million and an adjusted core EBIT of EUR 72.9 million. As at 31 December
2015, 8,139 employees (including apprentices) worked for EDAG in 19
countries.
Press contact:
Public Relations
Christoph Horvath
Press Officer EDAG Group
Phone: +49 (0) 661- 6000 570
Mail: [email protected]
www.edag.de
Investor Relations
Sebastian Lehmann
Head of Investor Relations
Phone: +49 (0) 611- 7375 168
Mail: [email protected]
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.
End of Media Release
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Issuer: EDAG Engineering Group AG
Key word(s): Services
11.11.2016 Dissemination of a Press Release, transmitted by DGAP - a service
of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: EDAG Engineering Group AG
Schlossgasse 2
9320 Arbon
Switzerland
Phone: +41 71 54433-0
E-mail: [email protected]
Internet: www.edag.com
ISIN: CH0303692047
WKN: A143NB
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart
End of News DGAP Media
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