ElringKlinger AG: Business performance affected by high capacity utilization

ElringKlinger AG  / Key word(s): Profit Warning18.09.2015 21:36Dissemination of an Ad hoc announcement according to § 15 WpHG, transmittedby DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.---------------------------------------------------------------------------ElringKlinger: Business performance affected by high capacity utilization Dettingen/Erms (Germany), September 18, 2015   +++ Based on preliminaryfigures, the ElringKlinger Group saw sales revenue expand by 13.6% to EUR240.1 (211.3) million in the months of July and August 2015. At an organiclevel, i.e. without the effects of acquisitions and currency translation,growth totaled 5.3%. Adjusted for non-recurring items, earnings beforeinterest and taxes (EBIT) amounted to EUR 22.7 (24.9) million beforepurchase price allocation.As anticipated on the basis of developments in the first half of the 2015financial year, business in the Original Equipment segment has continued tobe driven by high levels of capacity utilization in the third quarter todate. Individual divisions within this segment recorded a sustained surgein demand. The additional costs associated with increased demand, e.g. forextra shifts and additional freight movements, have thus had an impact onthe company's cost base for July and August; it rose by around EUR 6million as a result of these factors. Measures already initiated for thepurpose of improving the company's cost structures have yet to take fulleffect. With this in mind, ElringKlinger no longer anticipates that it willbe able to achieve the guidance figure previously targeted for the currentfiscal year.The ElringKlinger Group is still looking to generate organic revenue growthof 5 to 7% for the 2015 fiscal year as a whole. Additionally, theconsolidation of ElringKlinger Automotive Manufacturing Inc. (formerly M&W)will contribute around EUR 30 million to Group revenue in the financialyear as a whole.The special charges outlined above, earnings contributions from acquiredentities that are as yet below the Group average and sluggish demand in theE-Mobility division will have a dampening effect on ElringKlinger Groupearnings in 2015. The company anticipates that the measures initiated forthe purpose of addressing the issue of capacity utilization will not takefull effect until the end of the year. ElringKlinger is likely to incuradditional exceptional charges of around EUR 20 to 30 million (first half:EUR 9 million) over the course of the second half of 2015 as a whole as aresult of the fact that specific divisions are operating at their uppercapacity limits. Against this backdrop, EBIT adjusted for non-recurringitems and before purchase price allocation is expected to be within acorridor of EUR 135 to 145 million (previous target: around EUR 165million) for the 2015 financial year.An explanatory conference call has been scheduled for Monday, September 21(9 a.m. CET) in connection with this announcement.Contact:For further information, please contact:ElringKlinger AG - Investor Relations/Corporate PRSabrina HauflerMax-Eyth-Straße 272581 Dettingen/ErmsTel.: +49 (0)7123-724-137E-Mail: sabrina.haufler@elringklinger.com 18.09.2015 The DGAP Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de--------------------------------------------------------------------------- Language:     EnglishCompany:      ElringKlinger AG              Max-Eyth-Straße 2              72581 Dettingen/Erms              GermanyPhone:        071 23 / 724-0Fax:          071 23 / 724-9006E-mail:       sabrina.haufler@elringklinger.comInternet:     www.elringklinger.deISIN:         DE0007856023WKN:          785602Indices:      MDAXListed:       Regulated Market in Frankfurt (Prime Standard), Stuttgart;              Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg,              Hanover, Munich End of Announcement                             DGAP News-Service ---------------------------------------------------------------------------