Q1 2019 EDAG Engineering Group AG Earnings Call Transcript
Ladies and gentlemen, welcome to the analyst conference of EDAG AG regarding the presentation of the quarter 1 2019 results. At our customer's request, this conference will be recorded. (Operator Instructions)
May I now hand you over to Mr. Cosimo De Carlo, CEO, who will lead you through this conference. Sir, please go ahead.
Many thanks. Good morning, ladies and gentlemen, and welcome to our Q1 earnings call. I'm here together with my colleagues, Jürgen Vogt and Holger Merz. Jürgen will give you the financial details on the first quarter and Holger will introduce himself later on.
As usual, let me give you an update on our market environment and the key highlights of our Q1. Looking at our market environment, we do not see any significant changes since our last call from April 3 this year. The global automotive R&D spending remains at very high level, which brings further opportunities for ESP to grow. Due to the extreme technological shift towards
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