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EDAG Engineering Group AG: Continuous increase in sales and earnings in the 2023 financial year - significant increase in free cash flow to EUR 10.9 million

EQS-News: EDAG Engineering Group AG / Key word(s): Annual Report/Annual Results EDAG Engineering Group AG: Continuous increase in sales and earnings in the 2023 financial year - significant increase in free cash flow to EUR 10.9 million 27.03.2024 / 07:10 CET/CEST The issuer is solely responsible for the content of this announcement. Press release

EDAG Engineering Group AG:
Continuous increase in sales and earnings in the 2023 financial year - significant increase in free cash flow to EUR 10.9 million

 

• Sales increase by 6.1% to EUR 844.3 million
• Adjusted EBIT increases to EUR 52.6 million
• Earnings after tax at the previous year's level of EUR 28.9 million
• New record order intake of EUR 861.9 million
• Solid growth and stable earnings development forecast for 2024

 

Arbon, 27 March 2024 EDAG, leading independent engineering services provider to the global mobility industry, today published its report on the 2023 financial year. Despite the challenging market environment, the company succeeded in continuing its growth course and at the same time significantly improving key figures.

At EUR 844.3 million, Group sales revenue was 6.1% above the previous year's level of EUR 796.1 million. This result also represents the highest turnover in the company's history. The growth is attributable to the positive development of all three segments. The Electrics/Electronics segment saw the strongest growth with an increase of 14.9 percent, followed by Production Solutions with 3.7 percent and Vehicle Engineering with 1.9 percent.

The Adjusted Group EBIT rose to EUR 52.6 million (previous year: EUR 50.5 million). This corresponds to an adjusted EBIT margin of 6.2% (previous year: 6.3%). The EBIT increased from EUR 51.1 million to EUR 53.9 million. At EUR 28.9 million, earnings after taxes in the 2023 financial year are at the previous year's level.

Incoming orders increased to a new record level of EUR 861.9 million in the reporting period (previous year: EUR 850.2 million). As of December 31, 2023, EDAG employed 8,880 employees worldwide (previous year: 8,412 employees).