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EDAG Engineering Group AG
ISIN: CH0303692047
WKN: A143NB
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EDAG Engineering Group AG · ISIN: CH0303692047 · Newswire (Company)
Country: Schweiz · Primary market: Switzerland · EQS NID: 1896679
08 May 2024 07:05AM

Revenue, adjusted EBIT and free cash flow increase


EQS-News: EDAG Engineering Group AG / Key word(s): Quarter Results/Development of Sales
Solid results: Revenue, adjusted EBIT and free cash flow increase

08.05.2024 / 07:05 CET/CEST
The issuer is solely responsible for the content of this announcement.


Press release


EDAG Engineering Group AG:
Solid results: Revenue, adjusted EBIT and free cash flow increase

  • Revenue grows by 2.9% to EUR 217.5 million
  • Adjusted EBIT increases to EUR 13.4 million, adjusted EBIT margin stable at 6.1%
  • Significant increase in free cash flow to EUR 26.3 million

 

Arbon, 08. May 2024. EDAG, leading independent engineering services provider to the global mobility industry and technology developer for industrial solutions, confirms its growth course with a solid increase in revenue. At 217.5 million euros, Group sales revenue was 2.9% above the previous year's level of 211.4 million euros. The Vehicle Engineering and Production Solutions segments contributed to sales growth in the first quarter with +2.9% and +24% respectively. The Electrics/Electronics segment was unable to continue the strong growth of recent quarters, recording a decline in turnover of 3.4%.

Adjusted Group EBIT amounted to 13.4 million euros (previous year: 13.0 million euros). The adjusted EBIT margin was stable at 6.1% at the previous year's level. The earnings performance in the first quarter is therefore in line with expectations for the full year 2024. Free cash flow increased from EUR 7.3 million to EUR 26.3 million in the first quarter. "This is an excellent result that underlines the strong operating performance under challenging conditions," emphasizes Holger Merz, CFO of the EDAG Group.

As of March 31, 2024, the company had 9,061 employees worldwide (previous year: 8,529 em-ployees).

The EDAG Group expects further growth and stable earnings development for the 2024 financial year. In addition to the opportunities, the forecast is also associated with risks that arise primarily from changes in market developments for our customers and, as a result, for us. Geopolitical uncertainties, the development of energy prices and wage costs as well as the availability of sufficiently qualified personnel also have an influence on this.

Revenue is expected to grow by around 4 percent to around 6 percent.
The adjusted EBIT margin is expected in a range of around 5 percent to around 6 percent.
The investment ratio is expected to be in a range of around 4 percent.

 

 

About the EDAG Group

The EDAG Group is a globally leading, independent engineering services provider that combines excellent engineering with the latest technology trends.

With a global network of some 70 branches, the EDAG Group realizes projects in the Vehicle Engineering, Electrics/Electronics and Production Solutions segments. Drawing on more than 50 years of engineering experience, EDAG's proprietary 360-degree development approach has become a hallmark of quality in the holistic development of vehicles and smart factories. The company's interdisciplinary expertise in the areas of software and digitization provides it with crucial skills to actively shape dynamic transformation processes as an innovative partner.

With an interdisciplinary team of around 8,900 experts, the EDAG Group develops unique mobility and industrial solutions for customers that include the world's leading automotive and non-automotive companies. The company is listed on the stock exchange since 2015 and generated revenues of € 844 million in 2023.

For more information, see the EDAG Group website: www.edag.com

 

 

 

Contacts:

Public Relations

Felix Schuster 
Head of Marketing & Communications  
Mobile:    +49 (0) 173 - 7345473 
Mail:       pr@edag.de
www.edag.com

 

Investor Relations

Christian Schütze 
Head of Investor Relations  
Phone:  +49 (0) 611- 7375 360 
Mobile:    +49 (0) 175- 8020 226
Mail:        ir@edag-group.ag
www.edag.com

 

 

 

Forward-looking statements

This release contains forward-looking statements. These statements are based on current estimates and projections of the 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.

 

 



08.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


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, Hamburg, Munich, Stuttgart
EQS News ID: 1896679

 
End of News EQS News Service

1896679  08.05.2024 CET/CEST

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