We were expecting EDAG would have a difficult Q2, as the company is very European and services mostly the automotive sector. However, we had not anticipated a decline of this scale: revenues were down by 32.6% in Q2. Unsurprisingly, the EBIT margin was significantly in negative territory (-14.4%).
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EDAG’s financial performance in Q3 2019 was very similar to that of Q2: revenues were down
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EDAG issued last night a profit warning for its full-year 2019 operations. The company is now expecting revenue growth by approximately 1% (previous guidance 5%), an adjusted EBIT margin of 4%-5% (previously 5%-7%), and a net profit of EUR 10m.
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We are now entering the season for Q1 earnings, and as always we will look into changes in major trends. The state of the automotive industry will be an area we will be closely monitoring.
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ERDservices is pleased to announce its ranking of the fastest-growing ER&D service vendors in CY 2017.
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Several industry observers, and even, the CEO of Altran, Dominique Cerutti, have predicted that following the
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