EDAG ENGINEERING GROUP AG
EQS-News: EDAG Engineering Group AG
/ Key word(s): Annual Report/Annual Results
Press release
Arbon, 27 March 2024 EDAG, leading independent engineering services provider to the global mobility industry, today published its report on the 2023 financial year. Despite the challenging market environment, the company succeeded in continuing its growth course and at the same time significantly improving key figures. At EUR 844.3 million, Group sales revenue was 6.1% above the previous year's level of EUR 796.1 million. This result also represents the highest turnover in the company's history. The growth is attributable to the positive development of all three segments. The Electrics/Electronics segment saw the strongest growth with an increase of 14.9 percent, followed by Production Solutions with 3.7 percent and Vehicle Engineering with 1.9 percent. The Adjusted Group EBIT rose to EUR 52.6 million (previous year: EUR 50.5 million). This corresponds to an adjusted EBIT margin of 6.2% (previous year: 6.3%). The EBIT increased from EUR 51.1 million to EUR 53.9 million. At EUR 28.9 million, earnings after taxes in the 2023 financial year are at the previous year's level. Incoming orders increased to a new record level of EUR 861.9 million in the reporting period (previous year: EUR 850.2 million). As of December 31, 2023, EDAG employed 8,880 employees worldwide (previous year: 8,412 employees). 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. "The EDAG Group once again developed positively in the 2023 financial year. We have made important progress in the areas of software and digitalization. Based on these competencies, we plan to continue to grow in a challenging environment in 2024," explains CEO Cosimo De Carlo.
Revenue is expected to grow by around 4 percent to around 6 percent. In view of the business performance in 2023, the Board of Directors will propose to the Annual General Meeting on June 19, 2024 that a dividend of EUR 0,55 per share be distributed for the 2023 financial year. This corresponds with the level of the previous year.
Selected key financial figures
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
Investor Relations
Christian Schütze
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.
27.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| 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: | 1866727 |
| End of News | EQS News Service |
1866727 27.03.2024 CET/CEST
