DGAP-Ad-hoc: EDAG Engineering Group AG: EDAG lowers earnings guidance for 2017, sales guidance remains unchanged
EDAG Engineering Group AG / Key word(s): Preliminary Results
Arbon, 25. July 2017. The Group Executive Management of EDAG Engineering Group AG (EDAG) has decided today, to lower earnings guidance (adjusted EBIT in % of sales) for FY 2017 from about 6-8% to about 4-6%, based on substantial lower earnings development in Q2 2017.
Although the overall market environment, which is especially characterized by continued high R&D-budgets of the EDAG customers, is intact, the previous-year results could not be reached.
The lower development is primarily due to the following reasons:
Without these special effects, the result of the previous-year could have been reached.
The final numbers for H1 2017 will be published on August 17th, 2017.
 For a definition of "adjusted EBIT" please see annual report 2016
|Company:||EDAG Engineering Group AG|
|Phone:||+41 71 54433-0|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart|
|End of Announcement||DGAP News Service|