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DGAP-Media / 2018-11-08 / 07:31
*EDAG Engineering Group AG: Strong sales growth and disproportionate
earnings increase in Q3*
*Arbon, November 8th 2018. *
EDAG, leading independent engineering services provider to the global
automotive industry, records uninterrupted growth momentum also in the third
quarter of the current year. Cumulative sales for the first nine months of
the year were increased by 10.7 percent to 588.1 million Euros (previous
year: 531.3 million Euros). The adjusted EBIT rose disproportionately by
43.7 percent to 37.8 million Euros; margin levels at 6.4% (previous year:
5.0%).
All three segments of the EDAG Group developed positively. Free Cash-Flow
was increased by 18 percent to 5.2 million Euros. EDAG Group has also
realigned its financing by issuing a promissory note loan in the amount of
120 million Euros. The company is thus financially well positioned for
further growth. At September 30th 2018, the EDAG Group employed 8,599 people
(previous year: 8,312 employees).
"The very good nine-month result confirms the course we have set with our
growth program "REinvent". We will continue to systematically implement this
program in order to optimally exploit the opportunities in our dynamically
growing market", explains Cosimo De Carlo, CEO of the EDAG Group. "EDAG
plays a decisive role in developing the mobility of the future and positions
itself as one of the most innovative partners of the global automotive
industry."
Against the background of the positive development in the first nine months
and the intact market environment, management had already revised its
forecast for the full year 2018 on October 16th. For the current year,
revenue growth of at least 8% and an adjusted EBIT margin of around 5-7% are
now expected.
*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, integral safety and new production technologies.
In financial year 2017, the company generated revenues of EUR 717 million
and an adjusted EBIT of EUR 32.6 million. As at 31 December 2017, 8,404
employees (including apprentices) worked for EDAG in 19 countries.
*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.
End of Media Release
Issuer: EDAG Engineering Group AG
Key word(s): Services
2018-11-08 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.
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Archive at www.dgap.de
Language: English
Company: EDAG Engineering Group AG
Schlossgasse 2
9320 Arbon
Switzerland
Phone: +41 71 54433-0
E-mail: ir@edag-group.ag
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
742589 2018-11-08
(END) Dow Jones Newswires
November 08, 2018 01:31 ET (06:31 GMT)
