EDAG Engineering Group AG

EDAG continues growth in 2016

DGAP-Media / 24.08.2016 / 07:30


EDAG continues growth in 2016

Arbon, August 24th 2016. EDAG, leading independent engineering services
provider to the global automotive industry, continues its growth course in
2016. After a significant growth in 2015, revenues in H1 2016 were
increased by 2 percent to 362 million Euros. All business segments
contributed to this growth.

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 adjusted EBIT levelled at 22.5 million Euros, compared to 35.4 million
Euros in the previous-year. The adjusted EBIT-margin was at 6.2% (previous
year: 10%). 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.

High attractiveness as an employer
Compared to the previous year, EDAG created more than 500 new jobs. CEO
Joerg Ohlsen underlines: "I am very happy that EDAG inspires so many
committed employees. We offer various challenges in an exciting market
environment to our staff members. This, together with good working
conditions, makes EDAG a great place to work." To offer ideal framework
furthermore, EDAG put a new training center in Fulda into operation at the
beginning of August. On a total area of 1,200 square meters up to 100
people can be trained simultaneously.

Further expansion of location structures
The next important milestone in the development of the EDAG Group is
imminent. On September 2nd, the new development center in Wolfsburg will be
opened. More than 1,000 employees can cooperate interdisciplinary in the
spacious new premises. In addition to classic engineering competences, in
particular activities in the emerging areas of e-mobility and lighting
engineering can be offered. Especially in these areas, EDAG is well-
positioned for the requirements of the mobility of the future.

Selected financial information for H1 2016

                           01.01.15 - 30.06.15     01.01.16 - 30.06.16
Core revenues (in EUR mn)  355.2                   362.4
Adjusted EBIT (in EUR mn)  35.4                    22.5
EAT (in EUR mn)            20.3                    9.5
Net debt (in EUR mn on     133.9                   143.1
reporting date)
Gross Investments (in EUR  12.4                    16.8
mn)
Equity ratio (in % on      27.4                    31.1
reporting date)

Ad hoc disclosure from August 23rd, 2016
Yesterday, the company announced by way of ad hoc disclosure that ATON