EQS-News

EDAG Engineering Group AG: Solid revenue growth and margin improvement after nine months - Seite 2

 

"The pressure to transform and innovate in the mobility sector remains high. Shortening development cycles is therefore becoming increasingly important for our customers. This quarter's solid performance once again confirms our company's ability to offer innovative and comprehensive solutions to shorten time-to-market," explains Cosimo De Carlo, CEO of the EDAG Group. "Efficiency and agility remain essential to keep pace with the rapid changes in the market".

 

"Against the background of the developments in the first nine months, we can concretise our guidance for the full year and confirm it overall," explains Holger Merz, CFO of the EDAG Group.

"For the 2023 financial year, we expect further growth and stable earnings development. However, this estimate is subject to considerable uncertainties, which arise in particular from the effects of the ongoing geopolitical disputes and inflationary developments, energy price and labour cost developments and the availability of sufficiently qualified personnel. We now expect revenue to grow by around 5 to 6 per cent instead of the previous figure of around 4 to 7 per cent. We are expecting an adjusted EBIT margin of around 6 per cent instead of the previous figure of around 4 to 7 per cent."

 

 

 

 

 

 

 

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 60 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.