EQS-News: EDAG Engineering Group AG: Order intake and revenue significantly

EDAG Engineering Group AG:
Order intake and revenue significantly increased
 

• Preliminary 9-month figures confirmed
• Revenue growth of 16.5% after nine month
• Order intake of EUR 709.9 EUR million (+ 34,8% vs. previous year)
• Adjusted EBIT margin of 6.4%

Arbon, November 10, 2022 EDAG, leading independent engineering services provider to the global mobility industry, today published its final report on the first three quarters of 2022. The preliminary figures published on October 19, 2022 were confirmed.

Revenue for the nine-month period rose by 16.5 percent to EUR 589.7 million (previous year: EUR 506.2 million). In the third quarter, the pace of growth increased again to 19.9 percent. All three segments showed a solid performance. The largest segment, Vehicle Engineering, grew in the first three quarters by 7.8 percent, Production Solutions increased its revenues by 15.3 percent and Electrics/Electronics showed the highest dynamic with a growth of 20.6 percent.

Adjusted EBIT at Group level increased from EUR 23.8 million in the previous year to EUR 37.5 million. This corresponds to an adjusted EBIT margin of 6.4 percent (previous year: 4.7 percent). All three segments increased their profitability compared to the previous year and closed the reporting period with a positive result.

With an order intake of 709.9 million euros in the first nine months, the previous year's figure was significantly increased by 183.2 million euros, representing a rise of 34.8 percent. As of September 30, the company had 8,246 employees worldwide (previous year: 7,874 employees).

Further increasing R&D budgets of our customers and order wins led to a reassessment of the forecast for the revenue development of EDAG in the current financial year.

For the 2022 financial year, revenue growth is now expected to be in a range of around 14 to 16 percent. Adjusted EBIT margin is forecasted in a range of around 6 to 8 percent.
The investment ratio is expected to be in a range of around 4 to 5 percent.

This assessment is largely dependent on Russia's war of aggression and possible further geopolitical disputes, as well as continuing disruptions to global supply chains and further pandemic developments.

About EDAG
Contacts:

Public Relations
Felix Schuster 
Head of Marketing & Communications                               
Mobile:   +49 (0) 173 - 7345473                                     
Mail:        pr@edag.de
www.edag.com
Investor Relations
Sebastian Lehmann                                                                            
Head of Investor Relations                                                                              
Phone:    +49 (0) 611- 7375 168                                                          
Mobile:    +49 (0) 175- 8020 226
Mail:        ir@edag-group.ag
www.edag.com

Forward-looking statements