Brief: EDAG FY Group Adjusted EBIT Down At EUR -4.7 Million

EDAG Engineering AG

24/03/2021 06:40

March 24 (Reuters) - EDAG ENGINEERING GROUP AG  ED4.DE :
    * AT EUR 650.3 MILLION, FY GROUP REVENUES WERE 16.8 PERCENT
BELOW
PREVIOUS YEAR'S LEVEL OF EUR 781.3 MILLION.
    * FY GROUP EBIT ADJUSTED FOR RESTRUCTURING CHARGES AND
PURCHASE
PRICE ALLOCATION EFFECTS DECREASED TO EUR -4.7 MILLION (PREVIOUS
YEAR: EUR 33.0 MILLION)
    * FREE CASH FLOW INCREASED SIGNIFICANTLY TO EUR 134.6
MILLION FOR
FULL YEAR (PREVIOUS YEAR: EUR 55.1 MILLION)
    * BASED ON CURRENT ESTIMATES, A RELATIVELY WEAKER FIRST HALF
OF
2021 AND A RELATIVELY STRONGER SECOND HALF OF 2021 ARE ASSUMED
    * IN 2021, A MODERATE INCREASE IN SALES IS EXPECTED AGAINST
BACKDROP OF DEVELOPMENT IN REPORTING YEAR 2020
    * WILL PROPOSE TO ANNUAL GENERAL MEETING ON 23 JUNE 2021
THAT A
DIVIDEND SHOULD NOT BE PAID FOR 2020

Source text for Eikon:  ID:nEQ51dLPka 
Further company coverage:  ED4.DE 

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