Announcements

• Series production order for Metal Forming & Assembly Technology business unit spanning a term of 5 years
• Supply of metal battery housings to a global Tier 1 supplier for commercial vehicle and city bus applications in the US market
• Contract volume in the low triple-digit million-euro range
• ElringKlinger to invest an amount in the single-digit million-euro range in new production machinery at Buford (USA) site by the start of production in 2024

Dettingen/Erms (Germany), July 26, 2023 +++ ElringKlinger AG has received an order for metal battery housings from a global Tier 1 supplier. The battery housings are to be used in commercial vehicle and city bus applications planned for the US market. The series production contract covers a five-year term with a total order volume in the low triple-digit million-euro range. In this context, ElringKlinger will invest in new production facilities at its US site in Buford, GA, in the run-up to the scheduled commencement of production in 2024.

Thomas Jessulat, Spokesman of the Management Board of ElringKlinger AG, emphasized, "With its material and process know-how, ElringKlinger is consistently geared up for the transformation of mobility. This order also bears testimony to these credentials. Our ex­pertise in stamping and forming technology, amassed over a period of several decades, provides the basis for the competitive supply of innovative battery components. "

Battery housings and associated sub-assemblies made of metal materials are part of ElringKlinger's broad product portfolio for the next generation of mobility and are already being mass-produced by the company. In this order, the business unit applied its core competencies in acoustic component optimization, lightweight structural design in metal, thermal insulation and EMC shielding. This made it possible to functionally optimize the components offered according to customer requirements.

Peter Walker, Vice President Metal Forming & Assembly Technology, said, "We are committed to supporting a global customer base with our metal assemblies for battery-electric applications. ElringKlinger offers its customers best-in-class service based on decades of core expertise gained in the field of stamping and forming technology – from R&D support relating to the initial product idea through to cutting-edge execution of series manufacturing. In doing so, we meet the most exacting quality standards with the latest technologies and state-of-the-art equipment."

ElringKlinger has been developing and producing components for lithium-ion batteries for various hybrid- and battery-electric vehicle models for a period spanning more than ten years. The company's know-how in development and series production in the field of battery technology covers battery systems and battery modules as well as components for batteries, such as cell contact systems, module connectors, cell covers, sealing systems, and pressure equalization elements.

Dettingen/Erms (Germany), July 11, 2023 +++ Based on preliminary figures, ElringKlinger AG (ISIN DE0007856023 / WKN 785602) recorded a significant increase in revenues and earnings in the second quarter of 2023 compared to the same quarter of the previous year. In this context, the Group generated revenue of EUR 468.7 million in the months from April to June 2023, up EUR 38.1 million or 8.8% on the figure posted for the same quarter of the previous year.

At the same time, adjusted earnings before interest and taxes (adjusted EBIT) stood at EUR 24.8 million in the quarter just ended, which corresponds to an adjusted EBIT margin of 5.3%. The comparative figure for the same period last year was EUR 1.8 million or 0.4%.

As announced at the beginning of the year, the Group will be reporting adjusted EBIT from 2023 onward for the purpose of comparing operating profitability across several periods without the influence of exceptional items. Adjusted EBIT is defined as reported EBIT without the amortization of intangible assets from purchase price allocation (PPA), changes in the scope of consolidation, and exceptional items. Exceptional items include, in particular, gains and losses from non-recurring events.

Based on preliminary figures, operating free cash flow in the second quarter of 2023 amounted to EUR 3.7 million (Q1 2023: EUR -20.3 million; Q2 2022: EUR 3.9 million), while net financial liabilities were scaled back slightly year on year by EUR 9.4 million to EUR 380.1 million as of June 30, 2023 (Jun. 30, 2022: EUR 389.5 million). Compared to the first quarter of 2023 (Mar. 31, 2023: EUR 372.3 million), net financial liabilities were up marginally by EUR 7.8 million. The net debt ratio stood at 1.9 (Q1 2023: 2.0; Q2 2022: 2.5).

ElringKlinger's outlook for the 2023 financial year remains unchanged.

The Group will publish its full financial results for the second quarter of 2023 on August 3, 2023.

Disclaimer
This release contains forward-looking statements. These statements are based on expectations, market evaluations and forecasts by the Management Board and on information currently available to them. In particular, the forward-looking statements shall not be interpreted as a guarantee that the future events and results to which they refer will actually materialize. Whilst the Management Board is confident that the statements as well as the opinions and expectations on which they are based are realistic, the aforementioned statements rely on assumptions that may conceivably prove to be incorrect. Future results and circumstances depend on a multitude of factors, risks and imponderables that can alter the expectations and judgments that have been expressed. These factors include, for example, changes to the general economic and business situation, variations of exchange rates and interest rates, poor acceptance of new products and services, and changes to business strategy.

• EKPO secures contract to supply fuel cell stacks for cruise ship
• Delivery of the NM12 Single stacks has already started
• Initial volume in the single-digit million euro range
• EKPO's fuel cell technology supports development of sustainable and eco-friendly cruises

Dettingen/Erms (Germany), July 04, 2023 +++ EKPO Fuel Cell Technologies GmbH (EKPO) has secured a contract from an international cruise company. The agreement covers the supply of NM12 Single fuel cell stacks for initially one cruise ship operated by the global cruise line. The initial volume will be within the single-digit million euro range. The delivery start of the stacks already took place in the first half of 2023.

Dr. Gernot Stellberger, Managing Director of EKPO Fuel Cell Technologies, commented as follows: "The agreement has tremendous potential for the future and confirms our commitment to help shape the development of sustainable and eco-friendly shipping with our fuel cell stacks. In addition, the order clearly illustrates that our fuel cell stacks are suitable for a wide range of applications – on the road in buses, commercial vehicles and passenger cars, and beyond the road in industrial settings, on railways and especially for maritime usage. Our EKPO technology provides the best possible basis thanks to its combination of performance, compact design, and high efficiency."

Shipping currently accounts for around 3% of global CO₂ emissions. In Europe alone, far beyond 100 million tons of CO₂ are emitted annually by ferries, container ships, and cruise vessels. This share is likely to rise further due to the increasing importance of shipping. With this in mind, hydrogen-based propulsion in conjunction with fuel cells can help to reduce emissions by a significant margin. Not only can fuel cells reduce emissions, they are also capable of eliminating them – as long as the electricity for hydrogen production is generated from renewable energy sources.

EKPO is supplying NM12 Single stacks for the cruise ship's fuel cell propulsion system. The NM12 Single PEMFC stack module is available with 359 cells. At 2.5 bara operating pressure, it achieves an output of up to 123 kW_el. The NM12 stack modules are designed in particular for applications with high power requirements, such as in the maritime sector.

• Order for metal battery housing assemblies placed by major global battery manufacturer 
• Global vehicle manufacturer as end customer
• SOP at Hungarian plant scheduled for 2023
• Extensive expertise in stamping and forming technology applied to new applications

Dettingen/Erms (Germany) +++ ElringKlinger AG has received an order for metal battery housing assemblies from a major global battery manufacturer whose systems are destined for the battery platform of a global vehicle maker. Series production at the ElringKlinger plant in Hungary is scheduled to commence before the end of 2023. 

Asked to comment, Dr. Stefan Wolf, Chairman of the Management Board of ElringKlinger AG reaffirmed: "ElringKlinger is geared up for the transformation of the mobility market. Established over the course of several decades, our know-how in stamping and forming technology provides the basis for our competitive offering centered around innovative components for battery housings. This order is a prime example. In addition, we have again been able to expand our customer base to include a global battery manufacturer who is currently setting up production in Europe."

The series production order covers several stamped, assembled, and specially coated sheet metal components that are installed as adapters between the battery housing and the battery's degassing valve. The tools required for the associated processes are designed and produced by the Group's in-house toolmaking department.

The order placed by the major battery manufacturer is worth several million euros and covers a period up to 2030; it is to be executed at ElringKlinger's plant in Kecskemét, Hungary. As a global technology group, ElringKlinger operates plants at all major automotive locations for the purpose of supplying customers locally.

ElringKlinger has been developing and producing components for lithium-ion batteries for various hybrid- and battery-electric vehicle models for a period spanning more than a decade. The company's expertise in development and series production in the field of battery technology covers battery systems and battery modules as well as components for batteries, such as cell contact systems, module connectors, cell covers, sealing systems, and pressure equalization elements.