11.08.2016
EDAG Engineering Group AG CH0303692047
EDAG Engineering Group AG: further revenue growth in first half of 2016 (news with additional features)
DGAP-Media / 11.08.2016 / 12:07
press release
EDAG Engineering Group AG: further revenue growth in first half of 2016
Arbon, August 11th, 2016. EDAG Engineering Group AG, leading independent
engineering services provider to the global automotive industry, records a
further growth in revenues according to preliminary figures for the first
half of 2016. The overall performance increased by 2% to 362 m. EUR in the
first six months (355 m. EUR in the previous year). The positive
development is also reflected in the number of staff - 8,267 people were
employed at June 30th 2016 (previous year: 7,761 employees). The
preliminary adjusted EBIT levels at 22.5 m. EUR (35.4 m. EUR in the
previous year). For the full year, a moderate revenue growth in the lower
single-digit percentage range and an adjusted EBIT-margin of 6-8% is
expected. The dividend shall remain stable with 0.75 Euros per share.
Proactive approach in a challenging market environment
In order to optimize results, the management has improved the cost basis
with a package of measures that will have an enhancing positive impact in
the course of the year. Supplementary selective measures are intended to
help setting forth the positive development. The expertise of new
professionals in all departments shall support the further growth of EDAG
in particular. In the current training year, EDAG was happy to welcome
about 200 new trainees who wanted to learn their dream job and set the
basis for their career. "Exciting projects all around the mobility of the
future offer applicants excellent development prospects in a constantly
changing industry", explained Joerg Ohlsen, CEO of EDAG.
Market trends offer chances for further growth
OEMs and their suppliers are facing tremendous challenges due to the
technological change in the automotive industry. In this context some OEM
are currently adjusting their model portfolio and reallocating their R&D-
budgets. EDAG considers the long term trends in the automotive industry
such as environmentally friendly mobility, automated driving,
digitalization as well as an increasing number of drive variants as intact.
The demand for international engineering services is considered to be
further growing, as OEMs and their suppliers are subject to a continued
high pressure for innovations and additional cost savings at the same time.
"With our efficient and globally interconnected structures we can make a
substantial contribution to these needs. In our product portfolio we focus
on four pillars: In the areas of complete vehicle development, E-mobility
and lightweight design we offer an excellent expertise in the international
environment to our customers. This is complemented with the second pillar,
the interconnected engineering of production plants, which is a unique
selling point of EDAG. The third focus is Electrics/Electronics, where we
offer solutions around the megatrends like connectivity, driver assistance
systems and autonomous driving. New added as fourth pillar is the brand
spin-off "trive.me", that is positioned future-oriented in the field of
digitalization", said Joerg Ohlsen. The management is confident that the
EDAG business model continues to be successful. The medium-term revenue and
earnings expectations are maintained.
The full report for the first half of 2016 will be published on August
24th.
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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Additional features:
Document: http://n.eqs.com/c/fncls.ssp?u=CAXVIFNPTY
Document title: EDAG press release H1 2016 (preliminary results)
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Issuer: EDAG Engineering Group AG
Key word(s): Services
11.08.2016 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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