EDAG Engineering Group AG

Positive order book; Revenues 2016 almost at previous year's level

DGAP-Media / 05.04.2017 / 07:30 EDAG Engineering Group AG: Positive order book; Revenues 2016 almost at previous year's level

 

- Order intake 2016 at EUR 744.9 mn. above previous year's level
(EUR 731.4 mn.)

- Revenues of EUR 715 mn. at high level

- Stabilization of adjusted EBIT at the end of 2016

- Proposal for dividend of EUR 0.75 per share

- For 2017 growth in revenues and earnings with increasing momentum in the course of the year expected


 

Arbon, 05 April 2017 EDAG, a leading independent engineering services provider to the global automotive industry, comes with a high order intake from the financial year 2016. In total, orders worth EUR 744.9 million could be booked in 2016 (previous year: EUR 731.4 million), the order backlog at the end of the year levelled at EUR 318.9 million (previous year: EUR 287.3 million).

 

In an intense competitive environment, the company succeeded to achieve revenues of EUR 715 million which is almost at previous year's level (EUR 722 million). The adjusted EBIT was at EUR 43.8 million (previous year: 72.6 million). The adjusted EBIT margin of 6.1 percent (previous year: 10.1 percent) shows a stable tendency.

 

The equity ratio 2016 rose further from 32.6 percent to 35.5 percent. On 31 December 2016, EDAG had 8,270 employees, an increase of about 1.5 percent compared to previous year (8,139 employees).

 

Particularly pleasing to the shareholders: The Board of Directors will propose the distribution of a dividend of EUR 0.75 per share to the General Meeting on 31 May 2017.

 

"2016 was a challenging year for us", says Joerg Ohlsen, CEO of the EDAG Group. "I am proud of having implemented important measures for a sustainable success together with my team under difficult market conditions. We could already notice positive impacts in the order intake and margins throughout the last quarter, so we are well prepared for the new business year. In 2017, we will expand our competencies especially in the e-mobility as well as the field of integral safety and assist our customers as a technology partner. With our committed employees and global competencies, we want to participate relevantly in market opportunities."