Full Year 2018 EDAG Engineering Group AG Earnings Call Transcript
Dear ladies and gentlemen, welcome to the Analyst Conference Fiscal Year 2018 of EDAG Engineering Group AG. At our customer's request, this conference will be recorded. (Operator Instructions)
May I now hand you over to Cosimo De Carlo, CEO, who will lead you through this conference? Please go ahead, sir.
Good morning, ladies and gentlemen, and welcome to our financial year 2018 earnings call. I'm delighted to guide you through this call. I'm here together with my colleague Jürgen Vogt, who will give you a detailed overview on our financial figures later on.
Before that, I'd like to give you an overview on the economic environment and the current developments within our industry. Let's start with the global economic trends and the ESP market outlook. As you know, ESP market is mainly depending on 3 dynamics: World economy, global automotive industry and R&D spendings of OEMs and suppliers.
Looking at the world economic situation, we are still in
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