EDAG Engineering Group AG

DGAP-News: EDAG Engineering Group AG: Positive revenues forecast for 2017; earnings forecast after preliminary H1 figures adjusted


DGAP-News: EDAG Engineering Group AG / Key word(s): Preliminary Results
EDAG Engineering Group AG: Positive revenues forecast for 2017; earnings
forecast after preliminary H1 figures adjusted

25.07.2017 / 14:00
The issuer is solely responsible for the content of this announcement.

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Arbon 25. July 2017
EDAG Engineering Group AG (EDAG) has disclosed preliminary figures for H1 2017.
Revenues levelled slightly below (-3%) previous-year figures of 362 million
Euros. The mainly by ppa-effects adjusted EBIT-margin was at about 4%.
 

The H1 figures are overall burdened by some special effects. Ramp-up costs for
some projects in Mexico were higher than expected. Moreover EDAG is currently
realigning the personnel structure, in order to be prepared for future customer
requirements. These factors, together with the continued pricing pressure, led
to an extraordinary impact on earnings.
 

Regardless of these temporary effects, the management considers the overall
market for engineering service providers as intact. The R&D spendings at the
customers are still on a very high respectively growing level. Against the
background of future topics like e-mobility, autonomous driving, connectivity
and industry 4.0, this trend is unbroken. By the recent acquisitions in Sweden
and the USA, EDAG will be consistently aligned to the requirements of the
customers and the markets of the future.
 

Against this background, the company expects a growth in revenues of up to 5%
and an adjusted EBIT-margin of 4-6% for the full year.
 

The final numbers for H1 2017 will be published on August 17th, 2017.

 

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 2016, the company generated revenues of EUR 715 million and an
adjusted EBIT of EUR 43.8 million. As at 31 December 2016, 8,270 employees
(including apprentices) worked for EDAG in 19 countries.


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.

 

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25.07.2017  Dissemination of a Corporate News, 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: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 News Service

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