EDAG Engineering Group AG

On course

DGAP-Media / 11.11.2016 / 07:30

Arbon, November 11th 2016. EDAG, leading independent engineering services
provider to the global automotive industry, shows a solid development in
the first nine months of 2016. Revenues were more or less flat at previous
year's level of about 534 million Euros. A particularly pleasing
development was the further growth in the segments Vehicle Development and
Production Solutions.

The adjusted EBIT levelled at 32.4 million Euros, compared to 54.8 million
Euros in the previous-year. The adjusted EBIT-margin was at 6.1% (previous
year: 10.3%). The margin has improved in the third quarter compared to the
previous quarter. The same applies for the operative cash flow that has
increased from -16.3 million Euros in the previous year to 10.3 million
Euros. 8,337 people were employed at September 30th, 2016 (previous year:
8,063 employees).

The market for engineering services will continue to benefit from high
investments into research and development by OEM and their suppliers. The
dynamics are driven e.g. by trends like autonomous driving, e-mobility and
digitalization. The current order intake indicates that the order backlog
by the year end will be above the previous year's level. Against this
background, the management is confident that the positive development of
the company will continue.

For the full year, revenues at or slightly above previous year's level and
an adjusted EBIT-margin of 6-8% is expected.

Fascinating jobs at an attractive employer
The increased number of staff is particularly based on a very successful
start of the new training year. Overall, 208 young people decided to start
their career in the exciting environment of an engineering service
provider. At a central welcoming event in Fulda, the new trainees got to
know the diverse career opportunities at the EDAG Group and could establish
first contacts. Particularly pleasing is the training rate of EDAG being
above 8% in Germany, again this year. This also reflects EDAG's high
attractiveness as employer and the success of a sustainable human resources
work.

Concepts for the mobility of tomorrow
From September 22nd to 29th the EDAG Group showed innovative concepts at
the IAA for Commercial Vehicles in Hannover. In addition to samples for an
intelligent independent wheel suspension integration and lightweight
solutions for commercial vehicles, a modular battery system for electric
buses caught the attention. In combination with a new battery management
system and a solution for rapid charging, EDAG presented a complete
electric solution for the future of transport in urban areas. "Our
innovations once again show the potential of EDAG as technical partner for