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Press Release

ElringKlinger sees third-quarter sales rise by 5% despite adverse foreign exchange effects - Operating result outpaces revenue growth

ElringKlinger AG / Key word(s): Interim Report/Quarter Results06.11.2013 / 07:47---------------------------------------------------------------------Dettingen/Erms, November 6, 2013  +++  The ElringKlinger Group hasconfirmed its preliminary financial results for the third quarter of 2013,as announced on 25 October 2013. Despite the severe malaise afflicting carmarkets in Europe, the company succeeded in driving sales forward by 5.1%to EUR 294.0 (279.8) million in the third quarter of 2013. The appreciationof the euro and the associated effects of currency translation dampenedrevenue growth, which would have reached 8.6% if exchange rates hadremained stable. Expanding by 5.8% to EUR 38.6 (36.5) million,ElringKlinger's operating result moved forward at a faster pace compared tosales revenue. Earnings before interest and taxes (EBIT), which - unlikethe operating result - include the effects of foreign exchange gains andlosses, were impacted by foreign exchange losses of EUR 3.5 million in thethird quarter, together with a non-recurring exceptional charge of EUR 1.5million, and stood at EUR 35.1 (36.0) million.ElringKlinger outperforms the market - Headwind from strong euroIn spite of difficult market conditions in Europe, the ElringKlinger Groupagain managed to outpace the global vehicle markets by a considerablemargin during the first nine months of 2013.Benefiting from new product launches, more dynamic business in NorthAmerica and continued buoyancy in overseas demand from Asia, ElringKlingerwas able to compensate for the severe weakness facing Western Europeanautomotive markets. Group sales revenue rose by 4.1% to EUR 884.1 (849.6)million. In this context, Group revenue was visibly diluted by thedirection taken by the US dollar, the Brazilian real and several Asiancurrencies. ElringKlinger generates around 40% of its sales revenue outsidethe eurozone. The negative effect of translating revenues into the Groupcurrency - the euro - was equivalent to EUR 16.4 million in the first ninemonths of 2013. If exchange rates had remained unchanged, revenue growthwithin the Group would have amounted to 6.0% in the nine-month period. TheGroup saw an acceleration in the rate of growth during the third quarter,despite the unfavorable effects of foreign currency translation. It managedto increase its sales revenue by 5.1% to EUR 294.0 (279.8) million in thethird quarter of 2013. If foreign exchange rates had remained unchanged,sales revenue would have expanded by 8.6% to EUR 303.8 million.Successful integration of acquired companies Sales generated by exhaust specialist Hug - ElringKlinger acquired thiscompany in 2011 and now holds a 93.7% interest in it - rose to EUR 13.1(7.2) million in the third quarter, fueled in particular by strong demandwithin the US retrofit market for trucks and buses as well as new projectsrelating to inland shipping and exhaust gas purification for stationary,gas-fired power plants. Earnings before taxes grew from minus EUR 0.7million to EUR 2.2 million.Despite the continued weakness of the French automotive market with regardto the number of cars sold and a concomitant downturn in sales at the siteoperated by the former Freudenberg company ElringKlinger Meillor SAS,Nantiat, earnings before taxes generated by the former Freudenberg plantsimproved to EUR 0.9 (0.5) million, with revenue stagnating at EUR 11.5million.Operating result up by 5.8% in third quarter As regards its operating result for the first nine months of 2013, theElringKlinger Group succeeded in matching the record set for the sameperiod a year ago, at EUR 113.1 (113.1) million. In this context, theGroup's operating result for the third quarter of 2013 was dented by anon-recurring exceptional expense of EUR 1.5 million associated with marketpenetration efforts in the Aftermarket segment. Additionally, the Groupincurred significant start-up costs in the area of E-Mobility, whereseveral large-scale projects were about to be taken forward to serialproduction level. Despite these factors, the Group's operating resultimproved at a faster rate than revenue in the third quarter, up 5.8% to EUR38.6 (36.5) million. The operating margin in the third quarter of 2013edged up slightly year on year to 13.1% (13.0%).Earnings before interest and taxes (EBIT), which unlike the operatingresult include foreign exchange gains and losses, were impacted by negativeforeign exchange effects equivalent to EUR 2.9 million in total over thecourse of the nine-month period. Thus, EBIT stood at EUR 110.2 (111.6)million, which was 1.3% down on last year's figure. The strength of theeuro was particularly evident in the third quarter of 2013, when foreignexchange losses of EUR 3.5 (-0.5) million had a dilutive effect onearnings. Consequently, at EUR 35.1 (36.0) million, EBIT was weaker thanthe Group's operating result.Attributable to the Group's financing activities, foreign exchange losseswere also the key factor behind the visible year-on-year increase in netfinance costs in the third quarter of 2013. The latter rose to EUR 6.3(3.6) million. The foreign exchange effects also resulted in higher netfinance costs for the first nine months of the financial year, up at EUR11.5 (10.8) million. The ElringKlinger Group thus saw earnings before taxescontract marginally to EUR 101.6 (102.2) million. In the third quarter of2013, earnings before taxes were slightly lower year on year, at EUR 32.3(33.0) million - also as a result of foreign currency effects.As a result, net income after non-controlling interests remained largelyunchanged at EUR 72.5 (72.7) million for the first nine months of 2013. At30.5% (26.0%), the income tax rate in the third quarter of 2013 wasmarkedly higher than in the previous year, as a result of which net incomeafter non-controlling interests contracted slightly to EUR 22.5 (23.3)million. Basic and diluted earnings per share totaled EUR 1.14 (1.15) inthe first nine months of 2013. In the third quarter of 2013, earnings pershare stood at EUR 0.36 (0.37).Expansive order intake Order intake remained solid at Group level. Orders placed by customersincreased by 11.5% to EUR 298.2 (267.5) million in the third quarter of2013. Order backlog for the Group rose to EUR 578.1 (472.8) million as atSeptember 30, 2013. This corresponds to a year-on-year increase of 22.3%.Revenue and earnings growth also forecast for the financial year as a wholeThe Group anticipates that global automobile production will expand onlyslightly in 2013 as a whole. While the Western European car market appearsto have reached its nadir, there are as yet no signs of a fundamentalrecovery. The Group's operating margin for 2013 will still be reduced tosome extent by the below-average aggregate profit margin of the entitiesacquired from Freudenberg. However, the dilutive effects are expected to beless pronounced compared to the previous year. At the same time, theE-Mobility division is facing substantial up-front expenses and start-upcosts. Several serial production projects are scheduled to commence withinthis area at the end of the year.Against this background, the ElringKlinger Group plans to increase salesrevenue by 5 to 7% in 2013 in terms of organic growth. Consequently,ElringKlinger anticipates that EBIT adjusted for non-recurring items willgrow at a more pronounced percentage rate compared to sales revenue in2013, taking the estimated figure to between EUR 150 and 155 million (EUR136.0 million in 2012). Looking forward to the remainder of the financialyear, revenue and EBIT growth may be positioned at the lower end of theseranges if the euro continues to appreciate significantly against othercurrencies that are of relevance to the Group.The full report for the third quarter and the first nine months of 2013 isavailable online at www.elringklinger.de/investor/2013-Q3-en.pdfEnd of Corporate News---------------------------------------------------------------------06.11.2013 Dissemination of a Corporate News, transmitted by DGAP - acompany of EQS Group AG.The issuer is solely responsible for the content of this announcement.DGAP's Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de---------------------------------------------------------------------Language:    English                                                 Company:     ElringKlinger AG                                                     Max-Eyth-Straße 2                                                    72581 Dettingen/Erms                                                 Germany                                                 Phone:       071 23 / 724-0                                          Fax:         071 23 / 724-9006                                       E-mail:      stephan.haas@elringklinger.de                           Internet:    www.elringklinger.de                                    ISIN:        DE0007856023                                            WKN:         785602                                                  Indices:     MDAX                                                    Listed:      Regulierter Markt in Frankfurt (Prime Standard),                     Stuttgart; Freiverkehr in Berlin, Düsseldorf, Hamburg,               Hannover, München                                         End of News    DGAP News-Service  ---------------------------------------------------------------------  238115 06.11.2013                                                      
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Ad-Hoc-Release

ElringKlinger preliminary results point to revenue growth of 5% in third quarter despite foreign exchange losses

ElringKlinger AG  / Key word(s): Preliminary Results/Quarter Results25.10.2013 07:50Dissemination of an Ad hoc announcement according to § 15 WpHG, transmittedby DGAP - a company of EQS Group AG.The issuer is solely responsible for the content of this announcement.---------------------------------------------------------------------------Dettingen/Erms, October 25, 2013  +++  Despite the severe weaknessafflicting car markets throughout Western Europe, the ElringKlinger Groupmanaged to drive sales forward by 5.1% to EUR 294.0 (279.8) million in thethird quarter of 2013. The Group's forward momentum in revenue growth wasrestricted to some extent by the effects of foreign currency translation,with the euro appreciating against a number of currencies. Expanding by5.8% to EUR 38.6 (36.5) million, ElringKlinger's operating result moved upat a slightly faster pace compared to sales revenue. Earnings beforeinterest and taxes (EBIT), which - unlike the operating result - includethe effects of foreign exchange gains and losses, were adversely affectedby foreign exchange losses of EUR 3.5 million as well as a non-recurringexceptional charge of EUR 1.5 million in the third quarter and stood at EUR35.1 (36.0) million.Adverse foreign exchange effectsBenefiting from new product launches, more dynamic business in NorthAmerica and continued buoyancy in demand for foreign vehicles in Asia,ElringKlinger was able to compensate for the anemic condition of WesternEuropean automotive markets. By contrast, the direction taken in particularby the US dollar, the Brazilian real and several Asian currencies exerteddownward pressure on sales revenue within the context of foreign currencytranslation. ElringKlinger generates around 40% of its sales revenueoutside the eurozone. If foreign exchange rates had remained unchanged,sales revenue would have been up by 8.6% to EUR 303.8 million, i.e. at arate that is well in excess of growth achieved by the automotive markets.Integration of Hug and Freudenberg bears fruitSales generated by exhaust specialist Hug, in which ElringKlinger now holdsan interest of 93.7%, rose to EUR 13.1 (7.2) million in the third quarter2013, driven in particular by strong demand within the US retrofit marketfor trucks and buses as well as new projects relating to inland shippingand exhaust gas purification for stationary, gas-fired power plants.Earnings before taxes rose from minus EUR 0.7 million to EUR 2.2 million.Despite the continued weakness of the French automotive market and adownturn in sales at the site operated by the former Freudenberg companyElringKlinger Meillor SAS, Nantiat, earnings before taxes generated by theformer Freudenberg plants improved to EUR 0.9 (0.5) million, with revenuestagnating at EUR 11.5 million.Operating result up by 5.8% - EBIT restricted by foreign exchange effectsIn the third quarter, the Group's operating result was influenced to someextent by a non-recurring exceptional charge of EUR 1.5 million associatedwith efforts to unlock new markets in the Aftermarket segment as well assignificant start-up costs in the area of E-Mobility, where severallarge-scale projects are about to be taken forward to the serial productionlevel. Against this backdrop, ElringKlinger recorded an operating result ofEUR 38.6 (36.5) million, which corresponds to growth of 5.8%. On thisbasis, the operating margin in the third quarter of 2013 edged up slightlyyear on year to 13.1% (13.0%). Earnings before interest and taxes (EBIT),which - unlike the operating result - include foreign exchange gains andlosses, were adversely affected by foreign exchange losses of EUR 3.5(-0.5) million and stood at EUR 35.1 (36.0) million.These transactional foreign exchange losses were the key factor behind theyear-on-year increase in net finance costs to EUR 6.3 (3.6) million. Whilenet interest expenses were scaled down to EUR 2.8 (3.1) million, the netresult of foreign exchange gains and losses was considerably weaker than inthe same quarter a year ago at minus EUR 3.5 (-0.5) million. Thus, at EUR32.3 (33.0) million, earnings before taxes were slightly lower than in thethird quarter of 2012.At 30.5% (26.0%), the income tax rate in the third quarter exceeded theprevious year's figure, as a result of which net income afternon-controlling interests contracted slightly to EUR 22.5 (23.3) million.On this basis, earnings per share for the third quarter of 2013 amounted toEUR 0.36 (0.37).Order intake remains strong The Group maintained its high level of order intake. Having alreadyexpanded by 11.0% in the second quarter of 2013 compared to the same perioda year ago, incoming orders rose by 11.5% to EUR 298.2 (267.5) million inthe third quarter. As of September 30, 2013, the value of order backlogstood at EUR 578.1 (472.8) million, up 22.3% on the equivalent figure forthe previous year.Revenue and earnings growth also expected for the financial year as a wholeThe Group anticipates that automobile production at a global level willexpand only slightly in the year as a whole. While the Western Europe carmarket appears to have reached its nadir, there are as yet no clear signsof a fundamental recovery. The Group's operating margin for 2013 will bereduced to some extent by the as yet below-average aggregate profit marginof the entities acquired from Freudenberg. However, the dilutive effectsare expected to be less pronounced compared to the previous year. At thesame time, the E-Mobility division is facing substantial up-front expensesand start-up costs. Several serial production projects are scheduled tocommence within this area at the end of the year.Against this background, the ElringKlinger Group plans to increase salesrevenue by 5 to 7% in 2013 in terms of organic growth. Consequently,ElringKlinger anticipates that EBIT adjusted for non-recurring items willgrow at a more pronounced percentage rate compared to sales revenue in2013, taking the estimated figure to between EUR 150 and 155 million (EUR136.0 million in 2012). Looking forward to the remainder of the financialyear, revenue and EBIT growth may be positioned at the lower end of theseranges if the euro continues to appreciate significantly against othercurrencies that are of relevance to the Group.The announcement of preliminary results for the third quarter 2013 will beaccompanied by a conference call today, October 25th, 2013, at 10:00 a.m.CEST. The full announcement of the results for the third quarter and firstnine months 2013 is scheduled for November 6th, 2013.25.10.2013 DGAP's 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:       stephan.haas@elringklinger.deInternet:     www.elringklinger.deISIN:         DE0007856023WKN:          785602Indices:      MDAXListed:       Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;              Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München End of Announcement                             DGAP News-Service ---------------------------------------------------------------------------
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Press Release

ElringKlinger AG: Hug supplies diesel particulate filters for U.S. Postal Service

ElringKlinger AG / Key word(s): Incoming Orders24.09.2013 / 08:38---------------------------------------------------------------------Dettingen/Erms, September 24, 2013  +++  The Swiss exhaust specialist Hug,in which ElringKlinger AG holds a majority stake, now supplies exhaustpurification systems for the United States Postal Service. Nearly 400vehicles operated by U.S. Mail in California are being fitted with dieselparticulate filters equipped with catalytic soot burn-off technology thatalso reduces levels of carbon monoxide and hydrocarbons. The firstdeliveries of Hug's filter systems are already under way via the automotiveretail sector.The U.S. retrofitting market, served by mobiclean R TM diesel particulatefilter systems, has become an important source of revenue for the HugGroup. In California, Hug can now boast a share of over 30% in theretrofitting market for buses and trucks. Sales of the diesel particulatefilters in North America were given a major boost at the beginning of thisyear when the CARB (California Air Resources Board) approved the systemsfor retrofitting buses and trucks weighing over 6.34 metric tons.The Swiss Hug Group's main focus is on exhaust purification systems fortrucks and other commercial vehicles, the shipping industry and stationaryoil- and natural-gas-fired power stations. The company develops andproduces all the main components in-house, e.g. the ceramic substrates forcatalysts, diesel particulate filters and DeNOx systems, as well as thecatalytic coating and the housings.In 2012, the Hug Group achieved total sales revenue of EUR 36.6 million,although EBIT (earnings before interest and tax) remained in negativeterritory at minus EUR 3.0 million. After a turnaround in the first quarterof 2013, not to mention the restructuring of production and a series of newprojects, the company expects sales to rise to over EUR 45 million withEBIT in excess of EUR 7 million.End of Corporate News---------------------------------------------------------------------24.09.2013 Dissemination of a Corporate News, transmitted by DGAP - acompany of EQS Group AG.The issuer is solely responsible for the content of this announcement.DGAP's Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de---------------------------------------------------------------------Language:    English                                                 Company:     ElringKlinger AG                                                     Max-Eyth-Straße 2                                                    72581 Dettingen/Erms                                                 Germany                                                 Phone:       071 23 / 724-636                                        Fax:         071 23 / 724-459                                        E-mail:      stephan.haas@elringklinger.de                           Internet:    www.elringklinger.de                                    ISIN:        DE0007856023                                            WKN:         785602                                                  Indices:     MDAX                                                    Listed:      Regulierter Markt in Frankfurt (Prime Standard),                     Stuttgart; Freiverkehr in Berlin, Düsseldorf, Hamburg,               Hannover, München                                         End of News    DGAP News-Service  ---------------------------------------------------------------------  231528 24.09.2013                                                      
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Notifications of voting rights

ElringKlinger AG: Publication according to § 26 paragraph. 1 WpHG with the objective of Europe-wide distribution

ElringKlinger AG 18.09.2013 14:05Dissemination of a Voting Rights Announcement, transmitted byDGAP - a company of EQS Group AG.The issuer is solely responsible for the content of this announcement.---------------------------------------------------------------------------On September 17, 2013, Alken Luxembourg S.A., Luxembourg, Luxembourg hasinformed us according to Article 21, Section 1 of the WpHG that via sharesits Voting Rights on ElringKlinger AG, Dettingen/Erms, Deutschland, haveexceeded the 3% threshold of the Voting Rights on September 13, 2013 and onthat day amounted to 3.06% (this corresponds to 1936862 Voting Rights.According to Article 22, Section 1, Sentence 1, No. 6 of the WpHG, 3.06% ofthe Voting Rights (this corresponds to 1936862 Voting Rights) is to beattributed to the company from Alken Fund SICAV. 18.09.2013 DGAP's 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              GermanyInternet:     www.elringklinger.de End of Announcement                             DGAP News-Service ---------------------------------------------------------------------------
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Notifications of voting rights

ElringKlinger AG: Publication according to § 26 paragraph. 1 WpHG with the objective of Europe-wide distribution

ElringKlinger AG 18.09.2013 13:52Dissemination of a Voting Rights Announcement, transmitted byDGAP - a company of EQS Group AG.The issuer is solely responsible for the content of this announcement.---------------------------------------------------------------------------On September 17, 2013, Alken Fund SICAV, Luxembourg, Luxembourg hasinformed us according to Article 21, Section 1 of the WpHG that via sharesits Voting Rights on ElringKlinger AG, Dettingen/Erms, Deutschland, haveexceeded the 3% threshold of the Voting Rights on September 13, 2013 and onthat day amounted to 3.06% (this corresponds to 1936862 Voting Rights).18.09.2013 DGAP's 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              GermanyInternet:     www.elringklinger.de End of Announcement                             DGAP News-Service ---------------------------------------------------------------------------
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Annual General Meeting

The 118th Annual General Meeting of ElringKlinger AG took place on May 16, 2023 as a virtual Annual General Meeting at the ICS International Congress Center Stuttgart, Messepiazza, 70629 Stuttgart, Germany.

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