Announcements

Shanghai, Dettingen/Erms, 21. April 2021 +++ At AUTO SHANGHAI 2021, ElringKlinger will be showcasing suitable solutions for vehicles of all drive types - be they classic combustion engines, hybrids or purely electrically powered cars. In addition to innovative gaskets and thermal and acoustic shielding systems, the company will be presenting complete fuel cell stacks and components, products from the field of battery technology and components for use in electric drive units. Extensive safety precautions will be taken at the booth so that visitors can enjoy their stay even in times of pandemic.

The automotive industry is in a state of flux. In addition, the world has been in a state of emergency for over a year now. "It is all the more pleasing that we can once again come into direct contact with our customers this year. This important trade fair offers a first-class platform to take a step back into normality. It is nice that we will be able to present a number of premieres at our stand this year," says a delighted Humphrey Chen, General Manager of ElringKlinger China Ltd.

These include various products from the field of fuel cell technology, for the first time also of the newly founded join venture EKPO Fuel Cell Technologies. The "NM12 Single" fuel cell stack module (PEMFC) with 359 cells based on metallic bipolar plates with an electrical output of 123 kWel is designed for high power requirements. ElringKlinger will also be exhibiting the "NM5-EVO" fuel cell stack module (PEMFC) with integrated system functionalities. This 335-cell stack module has an electrical output of 76 kWel and can be used for integration into drive systems as a fuel cell-battery hybrid system or range extender. "Especially in China, our fuel cell stacks are a competitive alternative to battery electric drives or the internal combustion engine due to their high performance," Chen explains.

Two battery modules and production-ready components
In addition to its long-standing expertise in the field of fuel cells, ElringKlinger has also been active in the area of battery technology for a good decade. As part of AUTO SHANGHAI 2021, the company will be presenting two different battery modules - a 48 V module made of prismatic lithium-ion cells and a 60 V module made of cylindrical lithium-ion cells for integration into a battery storage system up to a total system voltage of 400 V. "In addition, there are various components on display at our booth that underscore the fact that ElringKlinger also has broad-based expertise in this area. In addition to pressure equalization elements for protecting battery storage housings, these include cell contacting systems that are used in traction batteries for hybrid and battery-electric vehicles," Mr. Dirk Schneider, Vice President of Sales AP explains in detail.

Wide range of products for the modern combustion engine
Despite the increasing shift towards alternative drive technologies, the modern combustion engine will also still play an important role in the coming years. ElringKlinger has more than 100 years of experience in the field of gasket technology and has, for example, developed the cylinder-head gasket into a high-tech product over time. There are several examples of this to look at.

From the field of shielding technology, various ElroActive^TM systems (thermal shielding) and ElroShield^TM systems (thermal and acoustic shielding) will be on display at AUTO SHANGHAI 2021.

Lightweight plastic components are used in all vehicles, regardless of their powertrain type. These include cockpit cross members and a door module carrier made from thermoplastic composites and plastic injection, which can be viewed.

Extensive hygiene concept at the booth
To ensure that all visitors feel safe, ElringKlinger has taken various precautions. "The safety of all is important for us - for our customers, visitors at our booth and teams organizing and executing the exhibition. Therefore we will organize special prevention in helping social distancing, face masks protection and assure hygienic prevention in order to make this event not only a success in terms of business but also a good example for getting back to business together with the challenging pandemic threats," says Chen.

ElringKlinger at AUTO SHANGHAI 2021
Hall 1.2, Booth 5BI101

Dettingen/Erms (Germany), April 16, 2021 +++ ElringKlinger AG (ISIN DE 0007856023 / WKN 785602) recorded a strong performance in the first quarter of 2021. According to preliminary figures, the Group generated revenue of EUR 424 million (Q1 2020: EUR 396 million) and earnings before interest and taxes (EBIT) of EUR 48.4 million (Q1 2020: EUR 16.0 million) in the first three months of the current financial year. This corresponds to an EBIT margin of 11.4% (Q1 2020: 4.0%). Alongside consistently solid aftermarket business, this was attributable to the high level of revenue seen across the board. The bottom-line result also includes a gain of EUR 10.9 million from the sale of ElringKlinger's Austrian subsidiary to the French partner Plastic Omnium.

In addition to revenue and earnings, other key financial indicators for the first quarter of 2021 also proved very favorable: operating free cash flow, for example, amounted to EUR 28.6 million (Q1 2020: EUR -2.2 million). Not included in this figure are the proceeds of EUR 13.4 million from the sale of the Austrian subsidiary subsidiary and a payment of EUR 30 million received by the company on the basis of an agreement between ElringKlinger and the French supplier Plastic Omnium as part of their fuel cell partnership. The latter is aimed at accelerating further capacity expansion of the joint company EKPO Fuel Cell Technologies GmbH, which will be fully consolidated within the ElringKlinger Group.

Net working capital was further optimized in the first quarter just ended: after EUR 453 million as of March 31, 2020, it now stood at EUR 430 million. Based on the Group's positive operating free cash flow, net debt was also further reduced to EUR 400 million (Q1 2020: EUR 603 million), resulting in a significant improvement in the net debt ratio (net debt/EBITDA) of 1.9 (Q1 2020: 3.1).

In view of the strong start to the year, ElringKlinger is adjusting its guidance for the current financial year. While organic revenue is still expected to develop roughly in line with market levels, the EBIT margin is now projected at around 5 to 6% (previously: around 4 to 5%). The outlook for the remainder of the year continues to be subject to considerable uncertainty, with underlying conditions remaining challenging and difficult. Commodity prices, for instance, are trending at very high levels and supply chains are not consistently robust. Additionally, in the course of the pandemic, it cannot be ruled out that production activities may have to be suspended temporarily at some of the 44 sites worldwide. This would have corresponding effects on revenue and earnings. - The outlook for the other key financial indicators remains unchanged from the statements made in the 2020 annual report.

ElringKlinger will publish its full quarterly results and the report on the first quarter of 2021 as planned on May 6, 2021.