Nov 10, 2022 / 09:00AM GMT
Cosimo De Carlo - EDAG Engineering Group AG - CEO & Member of Executive Board
Thank you, and good morning, ladies and gentlemen, and welcome to our Q3 earnings call. I'm here, together with my colleague, Holger Merz, who will give you the financial details on the first 9 months of 2022 later on. As usual, I would like to give you an update on our market environment at the beginning.
The global economic environment has not really changed since our last call at the end of August. We continue to experience multiple factors that had a negative influence on the economic output. In addition to the ongoing COVID pandemic and Russia's works of aggression, high inflation and very high energy costs are putting pressure on the global markets. These factors made the IMF to lower its global economic growth expectation from 2023 again to now only 2.7%.
For Germany, the institute now expects a recession in the coming year. This means that the overall macro level is becoming increasingly clouded.
Now let's go one step deeper and look at the automotive market. The supply chain disruptions
Q3 2022 EDAG Engineering Group AG Earnings Call Transcript
Nov 10, 2022
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