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%).
![](https://erdservices.org/wp-content/uploads/2018/05/Financials_EDAG.png)