20.04.2016
EDAG Engineering Group AG CH0303692047
EDAG Engineering Group AG: Most successful year in company history (news with additional features)
DGAP-Media / 20.04.2016 / 08:00
EDAG: Most successful year in company history
- Significant revenue increase in the core business, up 13.7% to EUR 722
million (previous year: EUR 635 million)
- Leading engineering services provider to the global automotive industry
continues to deliver on growth strategy
- Adjusted core EBIT up 37% to EUR 73 million with a 10.1% margin
- Proposal for first-time dividend of EUR 0.75 per share
- Further growth of earnings and revenues expected in 2016
Arbon, 20 April 2016. EDAG, a leading independent engineering services
provider to the global automotive industry successfully continues on its
growth trajectory, reaching all its financial targets for the financial
year 2015. The company, which has been listed for about five months, plans
to pay a first-time dividend of EUR 0.75 per share to its shareholders.
EDAG also anticipates further growth in the financial year 2016 and plans
to increase revenues.
"2015 has been highly successful for EDAG," says Thomas Eichelmann,
Chairman of the Board. "We succeeded in winning attractive orders. All our
business segments have demonstrated earnings power and financial strength.
We have also laid the foundations for future success by taking the company
public. Today, EDAG is in an excellent position to permanently benefit from
the strong opportunities in the market for engineering services - also in
view of the expected market consolidation."
Group revenues increased by 13.7 percent year on year to EUR 722 million.
Over the same period, the adjusted Group EBIT could be increased
significantly to EUR 73 million, up from EUR 53 million in the previous
year. Also, the operating margin of 10.1 percent substantially exceeded the
previous 8.4 percent. Capital expenditures over the past financial year
amounted to about 4.2 percent of sales revenues. The equity ratio could be
improved from 24.2 to 32.6 percent.
EDAG Group also continues to grow its organisation - on 31 December 2015,
EDAG had 8,063 employees (previous year: 7,401 employees) across 57
locations in major automotive centres of 19 countries.
Based on the very good results situation, the board of directors will
recommend a dividend payment of 0.75 Euro per share at the general
shareholder meeting on May 31, 2016.
Revenue and earnings growth across all businesses
EDAG's "Vehicle Engineering" business combines all vehicle development
related services. From conceptualisation to design studies, the
implementation of extensive testing processes and the use of new
manufacturing procedures - EDAG has the comprehensive expertise to develop
entire vehicles. Core revenues in this business increased by 9.0 percent to
EUR 455.0 million. At the same time, the business grew adjusted EBIT-margin
from 7.5 percent to 10.0 percent - the strongest performance in the Group.
The "Production Solutions" business supports the development and
implementation of production processes globally, among other things by
optimising manufacturing procedures or planning entire plant concepts. Core
revenues in this business could be increased by 12.6 percent to EUR 119.8
million. The adjusted EBIT-margin increased from 12.0 percent to 13.1
percent.
The "Electric/Electronics" business combines all services related to the
integration of electric or electronic components into sustainable vehicle
concepts. It improved revenues to EUR 158.9 million, which corresponds to a
28.4 percent increase. Due to inhomogeneous capacity utilization, the
adjusted EBIT-margin was at 7.3 percent after 8.0 percent in the previous
year.
Positive outlook: expectation of additional growth
As an independent development partner of the automotive industry, EDAG
operates in a dynamically growing market. On the basis of preliminary
figures, EDAG has increased revenues to 182 million Euro in Q1 2016 after
174.7 million Euro in the previous-year period. The adjusted EBIT was at
about 13 million Euro and therewith below the previous-year results of 17.5
million Euro. Substantial reasons for the deviation in the results were,
each about half, the lower number of working days as well as a lower
productivity compared to the previous-year period.
For the full year, the executive Management expects an increase in revenues
in a range of 7- 10% and a moderate growth of the adjusted EBIT compared to
2015.
Proposed quotes:
Thomas Eichelmann, Chairman of the Board:
- "The significant increase of revenues and earnings is a strong proof
point for our pursued growth strategy. We have further strengthened our
leading position in the market."
- "After its successful IPO, EDAG has the necessary financial flexibility
to further advance consolidation in the sector."
Jörg Ohlsen, CEO:
- "The market for services relating to the integration of electric and
electronic components in sustainable vehicle concepts is growing
rapidly - and we significantly drive this growth through landmark
innovations delivered by our engineers and technicians. This enables us
to confirm our positive guidance for financial year 2016."
- "In addition to continually developing and marketing successful
innovations and strengthening our market position, we are also strongly
growing our organisation - an approximate 10 percent headcount increase
over one year is a clear sign that EDAG is an attractive and successful
employer."
Selected financial information for financial year 2015
FY 2014 FY 2015 Change (in %) Core revenues (in EUR mn) 635 722 13.7 Vehicle Engineering (in EUR mn) 417.6 455.0 9.0 Production Solutions (in EUR mn) 106.4 119.8 12.6 Electrics /Electronics (in EUR mn) 123.8 158.9 28.4 Adjusted Core EBIT (in EUR mn) 53.2 72.9 10.1 Vehicle Engineering (in EUR mn) 31.1 45.7 46.0 Production Solutions (in EUR mn) 12.0 15.7 30.8 Electrics /Electronics (in EUR mn) 9.9 11.5 16.2 EAT (in EUR mn) 59.9 36.3 -39.4 Net debt (in EUR mn) 121.7 93.4 -23.3 CapEx (in EUR mn) 25.2 30.3 20.2 Equity ratio (in %) 24.2 32.6 34.7About 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 58 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, about 8,000 employees (including apprentices) worked for EDAG in 19 countries. Press contact Sebastian Lehmann Tel.: +49-611-7375-168 Email: [email protected] www.edag.de End of Media Release +++++ Additional features: Picture: http://newsfeed2.eqs.com/edag/455755.html Subtitle: EDAG Soulmate --------------------------------------------------------------------------- Issuer: EDAG Engineering Group AG Key word(s): Services 20.04.2016 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. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- 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 --------------------------------------------------------------------------- 455755 20.04.2016
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