EDAG Engineering Group AG Stabilizes Revenue and EBIT Amid Market Challenges

EDAG Engineering Group AG has released its financial results for the 2024 fiscal year, highlighting stable revenues and adjusted EBIT despite a challenging market environment. The group's revenues reached €822.0 million, slightly down by 2.6% from the previous year, while the adjusted EBIT stood at €31.1 million.

The company experienced a 30% growth in other industries, contributing approximately €80 million, while revenues in the Vehicle Engineering and Electrics/Electronics segments showed declines of 2.3% and 9.2%, respectively. The diversification into other sectors enabled Production Solutions to grow by 16%.

Despite higher financing expenses and restructuring impacts totaling €34.5 million, EDAG's net income for 2024 was €-14.4 million. Free cash flow increased significantly to €70.1 million, reflecting effective cost management. The company aims to navigate the 2025 fiscal year amid anticipated market fluctuations and geopolitical uncertainties.