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EDAG Engineering Group AG: Revenues and adjusted EBIT stabilized in a challenging market environment in the 2024 financial year
EDAG Engineering Group AG: Revenues and adjusted EBIT stabilized in a challenging market environment in the 2024 financial
About this update from Edag Engineering Group Ag
[{"type":"text","content":"\n\n\nEQS-News: EDAG Engineering Group AG\n\n\n / Key word(s): Annual Report/Annual Results\n\n\n\n\n\nEDAG Engineering Group AG: Revenues and adjusted EBIT stabilized in a challenging market environment in the 2024 financial year \n\n\n\n\n\n\n27.03.2025 / 07:05 CET/CEST\n\n\n\nThe issuer is solely responsible for the content of this announcement. Press InformationEDAG Engineering Group AG: Revenues and adjusted EBIT stabilized in a challenging market environment in the 2024 financial year Revenues at € 822.0 millionAdjusted EBIT at € 31.1 millionIncrease of free cash flow to € 70.1 millionRestructuring measures impact earnings by € 34.5 million30% growth in other industries to approx. € 80 million Arbon, March 27, 2025 The EDAG Group, one of the largest independent engineering service providers to the automotive industry, with experts in mobility, industry and public solutions, published today its report for the 2024 financial year. By taking systematic countermeasures, the EDAG Group was able to counter the decline in sales in the automotive industry and the resultant project postponements and cancellations, all of which led to a downward trend in key figures.\n\nThe difficult market conditions were reflected in incoming orders, which totaled € 767.9 million in the reporting period (previous year: € 861.9 million). At € 822.0 million, the group's revenues are 2.6 percent below the previous year's figure of € 844.3 million. Due to the current market situation, the Vehicle Engineering and Electrics/Electronics segments were unable to continue the growth seen in previous years. Revenues decreased by 2.3 percent in our largest segment, Vehicle Engineering, and by 9.2 percent in the Electric/Electronics segment. Production Solutions continued its growth path by diversifying into other industries, generating a 16.0 percent increase in revenues.\n\nThe adjusted Group EBIT stands at € 31.1 million (previous year: € 52.6 million). This is equivalent to an adjusted EBIT of 3.8 percent (previous year: 6.2 percent). The EBIT of € -3.4 million (previous year: € 53.9 million) includes restructuring measures in the amount of € 34.5 million. For the same reason, and due to higher financing expenses, earnings after taxes in the 2024 financial year amounted to € -14.4 million, and were therefo...