Solid results: Revenue, adjusted EBIT and free cash flow increase

EQS-News: EDAG Engineering Group AG / Key word(s): Quarter
Results/Development of Sales
Solid results: Revenue, adjusted EBIT and free cash flow increase

08.05.2024 / 07:05 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Press release


EDAG Engineering Group AG:
Solid results: Revenue, adjusted EBIT and free cash flow increase

* Revenue grows by 2.9% to EUR 217.5 million

  * Adjusted EBIT increases to EUR 13.4 million, adjusted EBIT margin stable
    at 6.1%

* Significant increase in free cash flow to EUR 26.3 million

Arbon, 08. May 2024. EDAG, leading independent engineering services provider
to the global mobility industry and technology developer for industrial
solutions, confirms its growth course with a solid increase in revenue. At
217.5 million euros, Group sales revenue was 2.9% above the previous year's
level of 211.4 million euros. The Vehicle Engineering and Production
Solutions segments contributed to sales growth in the first quarter with
+2.9% and +24% respectively. The Electrics/Electronics segment was unable to
continue the strong growth of recent quarters, recording a decline in
turnover of 3.4%.

Adjusted Group EBIT amounted to 13.4 million euros (previous year: 13.0
million euros). The adjusted EBIT margin was stable at 6.1% at the previous
year's level. The earnings performance in the first quarter is therefore in
line with expectations for the full year 2024. Free cash flow increased from
EUR 7.3 million to EUR 26.3 million in the first quarter. 'This is an
excellent result that underlines the strong operating performance under
challenging conditions,' emphasizes Holger Merz, CFO of the EDAG Group.

As of March 31, 2024, the company had 9,061 employees worldwide (previous
year: 8,529 em-ployees).

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.

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.

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 70 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.

With an interdisciplinary team of around 8,900 experts, the EDAG Group
develops unique mobility and industrial solutions for customers that include
the world's leading automotive and non-automotive companies. The company is
listed on the stock exchange since 2015 and generated revenues of EUR 844
million in 2023.

For more information, see the EDAG Group website: www.edag.com



Contacts:

Public Relations

Felix Schuster
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.


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08.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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   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:    1896679

End of News EQS News Service
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1896679 08.05.2024 CET/CEST