EQS-News

EDAG Engineering Group AG: First half of 2023 concluded with strong order intake and 10.3% revenue growth

EQS-News: EDAG Engineering Group AG / Key word(s): Half Year Report/Half Year Results EDAG Engineering Group AG: First half of 2023 concluded with strong order intake and 10.3% revenue growth 31.08.2023 / 07:00 CET/CEST The issuer is solely responsible for the content of this announcement. EDAG Engineering Group AG: First half of 2023 concluded with strong order intake and 10.3% revenue growth

 

• Order intake of EUR 502.3 million (up by 16.1% against previous year´s H1)
• Revenue up by 10.3% in H1 2023
• EBIT of EUR 24.9 million nearly at previous year´s level
• EAT at EUR 14.0 million slightly above previous year
• Successful placement of a promissory note loan

Arbon, 31. August 2023 EDAG, leading independent development partner for the mobility industry and technology developer for industrial solutions, published its report on the first half of 2023 today. The strong market position was underlined in the reporting period with dynamic order intake and significant revenue growth.

 

At Group level, revenues of EUR 421.6 million were 10.3 percent above the previous year's level of EUR 382.2 million. This growth was largely driven by developments in the Electrics/Electronics segment, which increased its revenue by 21.3 percent. Vehicle Engineering increased its revenues by 7.5 percent, while Production Solutions was roughly on a par with the previous year at -0.6 percent.

 

With EUR 24.9 million, Group EBIT was at about the same level as the previous year's figure of EUR 25.0 million. Adjusted Group EBIT amounted to EUR 23.5 million (previous year: EUR 24.1 million). The EBIT margin reached 5.9 percent (previous year: 6.6 percent); the adjusted EBIT margin was 5.6 percent (previous year: 6.3 percent). All three segments were profitable in the first half of the year. Overall, earnings development in the first half of the year was in line with expectations for the full year 2023.