EDAG Engineering Group AG / CH0303692047
27.03.2024 - 07:10:05EDAG 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
| EDAG Engineering Group AG / Key word(s): Annual Report/Annual Results 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). The EDAG Group expects further growth and stable earnings development for the 2024 financial year. In addition to the opportunities, the forecast is also associated with risks that arise primarily from changes in market developments for our customers and, as a result, for us. Geopolitical uncertainties, the development of energy prices and wage costs as well as the availability of sufficiently qualified personnel also have an influence on this. "The EDAG Group once again developed positively in the 2023 financial year. We have made important progress in the areas of software and digitalization. Based on these competencies, we plan to continue to grow in a challenging environment in 2024," explains CEO Cosimo De Carlo. Revenue is expected to grow by around 4 percent to around 6 percent. The adjusted EBIT margin is expected in a range of around 5 percent to around 6 percent. The investment ratio is expected to be in a range of around 4 percent. In view of the business performance in 2023, the Board of Directors will propose to the Annual General Meeting on June 19, 2024 that a dividend of EUR 0,55 per share be distributed for the 2023 financial year. This corresponds with the level of the previous year. Selected key financial figures
Head of Marketing & Communications Mobile: +49 (0) 173 - 7345473 Mail: pr@edag.de www.edag.com Investor Relations Christian Schütze Head of Investor Relations Phone: +49 (0) 611- 7375 360 Mobile: +49 (0) 175- 8020 226 Mail: ir@edag-group.ag www.edag.com Forward-looking statements This release contains forward-looking statements. These statements are based on current estimates and projections of the EDAG Executive Board and currently available information. They are not guarantees of future performance, involve certain risks and uncertainties that are difficult to predict, and are based upon assumptions as to future events that may not be accurate. Many factors could cause the actual results, performance or achievements of EDAG to be materially different from those that may be expressed or implied by such statements. EDAG does not assume any obligation to update the forward-looking statements contained in this release. 27.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | EDAG Engineering Group AG |
| Schlossgasse 2 | |
| 9320 Arbon | |
| Switzerland | |
| Phone: | +41 71 54433-0 |
| E-mail: | ir@edag-group.ag |
| Internet: | www.edag.com |
| ISIN: | CH0303692047 |
| WKN: | A143NB |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart |
| EQS News ID: | 1866727 |
| End of News | EQS News Service |
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