Announcements

ElringKlinger announces preliminary results for fiscal 2018:
visible revenue growth in challenging market environment; earnings affected by internal and external factors

- Revenue up by 2.0 % to EUR 1,697 million, organically by 7.3 %

- EBIT before purchase price allocation (PPA) at EUR 100.4 million, EBIT margin before PPA at 5.9 %

- Q4 2018: Revenue up by 2.5 %, organically by 7.1 %; EBIT of EUR 11.9 million before PPA, corresponding to margin of 2.8 %

- Management Board proposes suspension of dividend payment

- Guidance for 2019: organic revenue growth of 2 to 4 percentage points above global market growth, EBIT margin before PPA of 4 to 5%

Dettingen/Erms (Germany), February 19, 2019 +++ Based on preliminary, unaudited figures, the ElringKlinger Group saw a significant improvement in revenue during the financial year just ended. At EUR 1,697.0 million, revenue increased by EUR 33.0 million or 2.0 % in 2018, despite the dilutive effects of currency translation equivalent to EUR 44.0 million or 2.6 %. Additionally, the Group was faced with changes to the scope of consolidation as a result of M&A transactions (primarily the sale of Hug) totaling EUR 45.5 million or minus 2.7 %. Eliminating the effects of currencies and consolidation, the Group saw revenue expand by EUR 121.8 million or 7.3 % organically. Calculated on the basis of global automobile production, which declined by 0.4% in 2018, the Group saw its revenue outpace the market as a whole by 7.7 percentage points. Thus, the company has exceeded its target of outperforming market growth organically by 2 to 4 percentage points.

Group EBIT before purchase price allocation amounted to EUR 100.4 million, which corresponds to a margin of 5.9 %. The Group had originally anticipated an EBIT margin of around 7%. In the fourth quarter, too, several factors contributed to the lower-than-expected EBIT margin: in the NAFTA region, commodity prices were again impacted by tariffs on steel and aluminum, while prices for plastic granules remained high worldwide. The picture with regard to optimization measures implemented in the NAFTA region was mixed. Although the Group succeeded in further implementing improvement measures, these efforts have not yet produced the anticipated effects on earnings. In total, revenue generated in the fourth quarter of 2018 amounted to EUR 429.8 (419.3) million (+2.5 %, organically +7.1 %); EBIT before purchase price allocation stood at EUR 11.9 (30.7) million, which corresponds to a margin of 2.8 % (7.3 %).

Based on the Group's preliminary figures, the Management Board will put forward a proposal for a dividend suspension in respect of the 2018 financial year, the aim being to further strengthen internal financing for the Group's transformation process. Viewed in conjunction with the successful conclusion of a syndicated loan agreement for EUR 350 million, the Management Board is confident that this will pave the way for a visible improvement in the Group's financing structure in the short term.

As Dr. Stefan Wolf, CEO of ElringKlinger AG, explained: "Our goal remains to significantly strengthen the Group's earnings performance in the medium term in order to improve operating free cash flow in conjunction with measures planned in respect of working capital and the continued disciplined investment approach. In going forward, we will manage growth in our well-established areas of business in order to unlock the potential associated with strategic fields of the future."

The Group will take significant steps in this direction as early at the current financial year. Efforts aimed at cost streamlining in Switzerland will be completed in 2019 and measures implemented in the NAFTA region are expected to advance significantly. By contrast, the challenging economic climate, e.g., difficult market conditions in many regions of the world, political and economic volatility, and, in particular, the uncertain repercussions of increasingly severe trade disputes - especially with regard to commodity prices and vehicle-specific tariffs - may limit the earnings effect of the aforementioned measures.

As Dr. Wolf puts it, "Overall, global economic conditions have become more complex and uncertain compared to previous years. Forecasting has become increasingly difficult due to the range of influencing factors, which also applies to the current financial year."

Overall, the Group remains confident that, in 2019, it can outpace global automobile production by a significant margin calculated on the basis of revenue growth. ElringKlinger anticipates that it will outperform the market as a whole by 2 to 4 percentage points in terms of organic revenue growth. At present, global automobile production is expected to expand by 0 to +1 %. Despite the improvements in earnings, however, it is unlikely that the proceeds from the sale of Hug, which contributed to earnings in 2018, can be fully compensated for in fiscal 2019. Therefore, the Group is expecting to achieve an EBIT margin, before purchase price allocation, of 4 to 5 % for the 2019 financial year. Based on the range of measures implemented, the Group also anticipates that its cash flow situation can be decisively improved as early as 2019 - with the prospect of positive operating free cash flow. The Group has confirmed its medium-term targets.

ElringKlinger will publish its full and definitive results for the 2018 financial year on March 27, 2019.

For further information, please contact:
ElringKlinger AG
Dr. Jens Winter
Strategic Communications
Max-Eyth-Straße 2
72581 Dettingen/Erms (Germany)
Phone: +49 7123 724-88335
Fax: +49 7123 724-85 8335
E-mail: jens.winter[at]elringklinger.com

About ElringKlinger AG
As an automotive supplier, ElringKlinger has become a trusted partner to its customers - with a firm commitment to shaping the future of mobility. Be it optimized combustion engines, high-performance hybrids, or environmentally-friendly battery and fuel cell technology, ElringKlinger provides innovative solutions for all types of drive systems. ElringKlinger's lightweighting concepts help to reduce the overall weight of vehicles. As a result, vehicles powered by combustion engines consume less fuel and emit less CO₂, while those equipped with alternative propulsion systems benefit from an extended range. In response to increasingly complex combustion engine technology, the Group also continues to make refinements with regard to gaskets in order to meet the highest possible standards. This is complemented by solutions centered around thermal and acoustic shielding technology. Additionally, the Group's portfolio includes products made of the high-performance plastic PTFE which are also marketed to industries beyond the automotive sector. These efforts are supported by a dedicated workforce of more than 10,000 employees at 45 ElringKlinger Group locations around the globe.

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.

ElringKlinger agrees syndicated loan of EUR 350 million

- Volume of EUR 350 million over minimum term of five years

- Syndicate of six domestic and international banks led by Commerzbank, Landesbank Baden-Württemberg, and Deutsche Bank

- Proceeds directed at general corporate funding and refinancing of existing bilateral lines of credit

- Improvement of maturity profile and more solid foundation for corporate planning

Dettingen/Erms (Germany), February 15, 2019 +++ ElringKlinger AG has today concluded a syndicated loan agreement with a syndicate consisting of six domestic and international banks. Funding was jointly arranged by Commerzbank, Landesbank Baden-Württemberg, and Deutsche Bank; the syndicate also includes DZ Bank, HSBC, and Banque Européenne du Crédit Mutuel. The agreement covers a total volume of EUR 350 million over a minimum term of five years. The proceeds from the loan are to be used for the purpose of general corporate funding and the refinancing of existing bilateral lines of credit.

"The syndicated loan allows us to further improve the overall maturity profile of our financial liabilities," explains Thomas Jessulat, CFO at ElringKlinger AG. "This agreement is part of a program aimed at also positioning ourselves appropriately on the financing side in order to be able to actively shape the process of transformation within the automotive industry." In taking this step, the Group has optimized its financing structure and created a more solid foundation for corporate planning. In line with the improvement in earnings performance expected in the medium term as well as measures planned with regard to working capital and a continued disciplined approach to investment activities, the focus will be on significantly improving operating free cash flow.

Embracing a comprehensive technology strategy, ElringKlinger was an early mover in positioning itself for the transition toward alternative drive systems. In the field of battery technology, for instance, the Group has already been operating as a series supplier of cell contact systems for hybrid and all-electric vehicles since 2011. The company also provides high-performance fuel cell stacks for hydrogen-powered drive systems. Additionally, through its strategic investment in development specialist hofer, the Group is capable of equipping all-electric vehicles with a complete electric drive unit. Numerous serial production orders and development projects in these strategic fields of the future point to the prospect of strong revenue growth in the coming years. In going forward, the Group will manage growth in its classical areas of business in order to unlock the potential associated with next-generation technologies.

For further information, please contact:
ElringKlinger AG
Dr. Jens Winter
Strategic Communications
Max-Eyth-Straße 2
72581 Dettingen/Erms (Germany)
Phone: +49 7123 724-88335
Fax: +49 7123 724-85 8335
E-mail: jens.winter[at]elringklinger.com

About ElringKlinger AG
As an automotive supplier, ElringKlinger has become a trusted partner to its customers - with a firm commitment to shaping the future of mobility. Be it optimized combustion engines, high-performance hybrids, or environmentally-friendly battery and fuel cell technology, ElringKlinger provides innovative solutions for all types of drive systems. ElringKlinger's lightweighting concepts help to reduce the overall weight of vehicles. As a result, vehicles powered by combustion engines consume less fuel and emit less CO₂, while those equipped with alternative propulsion systems benefit from an extended range. In response to increasingly complex combustion engine technology, the Group also continues to make refinements with regard to gaskets in order to meet the highest possible standards. This is complemented by solutions centered around thermal and acoustic shielding technology. Additionally, the Group's portfolio includes products made of the high-performance plastic PTFE which are also marketed to industries beyond the automotive sector. These efforts are supported by a dedicated workforce of more than 10,000 employees at 44 ElringKlinger Group locations around the globe.

ElringKlinger records organic growth of 5.3% in third quarter

- Order intake up 8.1% year on year, order backlog remains strong at EUR 1,027 million

- Revenue expands by 5.3% organically in third quarter and by 7.4% in year to date

- EBIT margin before purchase price allocation at 7.0% in first nine months

- Guidance for 2018 financial year confirmed

Dettingen/Erms (Germany), November 6, 2018 +++ After a strong first half the ElringKlinger Group maintained its forward momentum in the third quarter of 2018. Despite adverse influencing factors such as trade conflicts or the introduction of WLTP, revenue increased by 0.5% year on year to EUR 405.8 (403.6) million. Currency effects associated with the strength of the euro - particularly against the Turkish lira, Brazilian real, and Mexican peso - diluted revenue by EUR 7.1 million or 1.8%. Additionally, revenue attributable to the divested entity (Hug Group), totaling EUR 12.1 million or 3.0%, has to be taken into account. Correspondingly, organic revenue growth amounted to EUR 21.4 million or 5.3% in the third quarter.

The sustained buoyancy in demand for ElringKlinger products is reflected in the Group's performance in the NAFTA region in particular over the course of the third quarter. While automobile production rose only marginally by 1.6%, sales revenue generated by ElringKlinger surged by 14.5% or EUR 11.7 million. This significant increase was driven mainly by several new product roll-outs and persistently large orders placed by customers as part of their production scheduling. The situation was similar in the first nine months as a whole: revenue, adjusted for currency effects, was up by 11.6%, whereas vehicle production for the same period was down by 0.7%. Europe also proved to be less dynamic in the third quarter. The new WLTP emissions testing method had anticipatory effects, as a result of which production output within the industry as a whole was down slightly by around 1%. ElringKlinger, by contrast, managed to expand its revenue by more than 1% in the same period, adjusted for the effects of the Hug disposal.

"Not only revenues but also orders continue to develop very well," commented CEO Dr. Stefan Wolf. "Adjusted for currency effects, we saw incoming orders increase by EUR 44 million or 11.5% in the third quarter compared to the same period a year ago. At EUR 1,027 million, order backlog at the end of September 2018 thus remained very high. This provides us with a foundation for sustained organic growth."

The Group's earnings performance in the year to date has been impacted above all by persistently high commodity prices and buoyant demand in the NAFTA region. After nine months, the EBIT margin before purchase price allocation was 7.0%. In the third quarter, it stood at 5.9%, which was roughly equal to the figure of 6.1% recorded in the previous quarter. Similar to the situation in the second quarter of 2018, costs attributable to these factors translated into higher cost of sales in the third quarter. As a result, the gross profit margin was lower than in the same period a year ago at 22.9% (25.7%). By contrast, a reduction in foreign exchange losses had a positive impact on net finance costs. In total, net income stood at EUR 12.3 (17.2) million and earnings per share at EUR 0.17 (0.25).

Guidance for 2018 confirmed
The Group has confirmed its guidance with regard to revenue and earnings for 2018, despite the global automotive industry having to operate against an intense competitive backdrop and macroeconomic conditions remaining equally challenging. Amid the ongoing debate surrounding diesel-powered vehicles, together with the effects of tariffs and trade disputes, repercussions from the introduction of WLTP, and last but not least the weakness of the Chinese market, uncertainty within the sector as a whole has become more pronounced. The automotive industry will continue to be influenced by these factors in the coming months and quarters. Against this background, ElringKlinger is now working on the assumption that automobile production will expand by 1 to 2% in 2018 (previous projection: 2 to 3%). With organic revenue growth standing at 7.4% after the first nine months and orders remaining strong, the Group is confident that it can outpace market expansion by 2 to 4 percentage points on the basis of organic revenue growth.

After the first nine months, the Group remains on track with regard to its earnings target, the objective being to achieve an EBIT margin before purchase price allocation of around 7% in the annual period as a whole. At the same time, however, market uncertainty and elevated commodity prices, together with the costs associated with consistently strong demand in the NAFTA region, are likely to affect earnings. Having considered the influencing factors outlined above together with anticipated operational improvements, the Group remains confident that it can achieve the earnings margin it has set itself as a target for 2018. The medium-term outlook for revenue and earnings has also been confirmed.

For further information, please contact:
ElringKlinger AG
Dr. Jens Winter
Strategic Communications
Max-Eyth-Straße 2
72581 Dettingen/Erms (Germany)
Phone: +49 7123 724-88335
Fax: +49 7123 724-85 8335
E-mail: jens.winter[at]elringklinger.com

Key Financials for Q3 and 9M of 2018

* Incl. gain from sale of Hug subgroup

About ElringKlinger AG
As an automotive supplier, ElringKlinger has become a trusted partner to its customers - with a firm commitment to shaping the future of mobility. Be it optimized combustion engines, high-performance hybrids, or environmentally-friendly battery and fuel cell technology, ElringKlinger provides innovative solutions for all types of drive systems. ElringKlinger's lightweighting concepts help to reduce the overall weight of vehicles. As a result, vehicles powered by combustion engines consume less fuel and emit less CO₂, while those equipped with alternative propulsion systems benefit from an extended range. In response to increasingly complex combustion engine technology, the Group also continues to make refinements with regard to gaskets in order to meet the highest possible standards. This is complemented by solutions centered around thermal and acoustic shielding technology. Additionally, the Group's portfolio includes products made of the high-performance plastic PTFE which are also marketed to industries beyond the automotive sector. These efforts are supported by a dedicated workforce of more than 10,000 employees at 44 ElringKlinger Group locations around the globe.

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.

• Future emphasis on PEMFC low-temperature fuel cell system used in mobile applications
• High-temperature SOFC fuel cell business of relevance to stationary applications to be sold to sunfire GmbH, a Dresden-based energy specialist
• Signing concluded on September 19, 2018; closing agreed for September 30, 2018

Dettingen/Erms (Germany), September 21, 2018 +++ As part of the strategic orientation of its E-Mobility division, ElringKlinger AG has taken the decision to focus entirely on PEMFC (Proton Exchange Membrane Fuel Cell) technology in future; it is of key relevance to mobile applications. Against this backdrop, ElringKlinger will sell its existing business centered around high-temperature SOFC (Solid Oxide Fuel Cell) technology - which will also cover its ownership interest in new enerday GmbH, Neubrandenburg - to Dresden-based sunfire GmbH. The parties to the contract have agreed not to disclose details relating to the purchase price. The purchase agreement was signed on September 19, 2018, with the closing of the transaction having been scheduled for September 30, 2018.

Dr. Stefan Wolf, CEO of ElringKlinger AG, explained the company's strategic considerations as follows: "In taking this step, we are looking to hone our profile as a supplier of innovative drive solutions. The PEM fuel cell solutions developed by our company in recent years for full market roll-out are suitable in particular for mobile applications. It is precisely this technology that we are keen to take to the next level as we move forward." ElringKlinger supplies PEM fuel cell stacks for various types of vehicle and can draw on many years of successful R&D work in this field. The technology is based on hydrogen as the energy source, resulting in zero CO₂ emissions.

By contrast, high-temperature SOFCs are powered with methane from natural gas, bio gas, or LPG. They are used mainly for stationary applications. The company's existing SOFC business complements the product range of sunfire GmbH by extending its portfolio to include small fuel cell devices for off-grid electricity supply and micro-CHP solutions for single-family homes. The Dresden-based energy specialist currently develops and produces large SOFC devices as well as systems for the generation of renewable gases and fuels.

In 2017, the ElringKlinger Group's SOFC business contributed around EUR 0.6 million to consolidated revenue of close to EUR 1.7 billion. SOFC-based revenue is expected to be comparable to this figure in the current financial year.

PEM fuel cell
ElringKlinger has been committed to research and development within the area of fuel cell technology for a period spanning almost 20 years. Alongside battery technology and electric drive systems, the company considers PEM fuel cells to be a key field for the future of next-generation mobility. ElringKlinger's product range within the area of PEM fuel cells includes metallic bipolar plates, plastic media modules, fuel cell stacks, and end-to-end systems. When it comes to automotive applications, fuel cell drives offer key advantages in the form of long ranges and quick refueling. PEMFC systems can also be used as range extenders for battery-powered vehicles. Additionally, PEM fuel cells are also being deployed to an increasing extent in stationary applications.

For further information, please contact:
ElringKlinger AG
Dr. Jens Winter | Strategic Communications
Max-Eyth-Straße 2 | 72581 Dettingen/Erms | Germany
Phone: +49 7123 724-88335 | Fax: +49 7123 724-85 8335
E-mail: jens.winter[at]elringklinger.com

About ElringKlinger AG
As an automotive supplier, ElringKlinger has become a trusted partner to its customers - with a firm commitment to shaping the future of mobility. Be it optimized combustion engines, high-performance hybrids, or environmentally-friendly battery and fuel cell technology, ElringKlinger provides innovative solutions for all types of drive systems. ElringKlinger's lightweighting concepts help to reduce the overall weight of vehicles. As a result, vehicles powered by combustion engines consume less fuel and emit less CO₂, while those equipped with alternative propulsion systems benefit from an extended range. In response to increasingly complex combustion engine technology, the Group also continues to make refinements with regard to gaskets in order to meet the highest possible standards. This is complemented by solutions centered around thermal and acoustic shielding technology. Additionally, the Group's portfolio includes products made of the high-performance plastic PTFE which are also marketed to industries beyond the automotive sector. These efforts are supported by a dedicated workforce of almost 10,000 employees at 45 ElringKlinger Group locations around the globe.

ElringKlinger sees strong expansion in revenue during second quarter of 2018

- Organic revenue growth of 8.4% in first half and as much as 11.6% in second quarter

- EBIT margin before purchase price allocation of 7.5% in first half

- Order backlog of EUR 1,038 million at record level

Dettingen/Erms (Germany), August 7, 2018 +++ Automotive supplier ElringKlinger recorded strong revenue growth in the second quarter of 2018. Compared to the same quarter a year ago, revenue was expanded by EUR 23.0 million, or 5.6%, to EUR 430.8 (407.8) million. This includes a dilution of revenue by EUR 10.9 million, or 2.7 percentage points, due to the disposal of Hug. Revenue was also dampened by currency effects equivalent to EUR 13.6 million or 3.3 percentage points. In this context, the direction taken by the Swiss franc, the Mexican peso, and the US dollar was a key factor. Adjusted for the effects of currency translation and the sale of Hug, revenue in the reporting quarter was up by EUR 47.5 million or 11.6% in organic terms. Thus, the Group outpaced growth in global automobile production (+6.6%) by 5 percentage points.

Revenue growth was evident in all sales regions covered by the Group. In South America and Rest of the World, for instance, ElringKlinger managed to expand its business by 9.4% in the second quarter of 2018, while it grew by 5.6% in its core market of Europe (incl. Germany). The Asia-Pacific region also recorded slight growth of 0.8%. ElringKlinger's sales performance in the NAFTA region was particularly striking. Here, Group revenue rose by a vigorous 9.4% year on year in the second quarter of 2018, despite the fact that vehicle production in this region was down slightly (-0.8%) during the same period. Calculated on the basis of revenue growth in the NAFTA region,
ElringKlinger outperformed general market expansion by more than 10 percentage points.

"We are advancing in all core segments, which clearly illustrates the strong demand for our products worldwide," said Dr. Stefan Wolf, Chief Executive Officer of ElringKlinger AG. "This buoyant demand is also reflected in our order book situation. We have received new orders amounting to EUR 459 million, which takes us to a level that is up 11% on the prior-year figure. In addition, our order backlog in excess of EUR 1 billion represents a new record for ElringKlinger."

Despite the strong demand, the persistently high levels of capacity utilization and the increased commodity prices, the Group managed to limit the impact on earnings in the second quarter when compared with the first three months of the financial year. In total, the Group recorded an EBIT figure of EUR 26.3 (37.2) million before purchase price allocation in the period from April to June. Adjusted for one-off proceeds from the sale of Hug, the EBIT margin before purchase price allocation improved from 4.0% in the first three months to 6.1% (9.1%) in the second quarter. In the first half the margin stood at 7.5% (9.1%).

ElringKlinger's growth trajectory is also reflected in other key financial indicators. Compared to the end of 2017, net working capital, for example, rose by 9.5% to EUR 605.9 million as of June 30, 2018. This was attributable mainly to a revenue-driven increase in trade receivables. The Group's disciplined approach to investment spending in property, plant, and equipment and investment property proved beneficial. It amounted to EUR 67.7 (72.0) million in the first half, down EUR 4.3 million on the prior-year figure. The investment ratio stood at 7.9%. Due to payments scheduled for the second half, however, it is expected to be within a range of around 9 to 10% in respect of the annual period as a whole. Operating free cash flow totaled EUR -42.2 (-21.8) million in the first half of 2018.

After a three-month period in which the automotive industry delivered a strong performance, the second half of the year will see more pronounced economic and political uncertainties. The business-related effects associated with the WLTP certification process for new vehicles may also have an impact on ElringKlinger. At the same time, it is impossible to predict the future direction taken by international trade tariffs and the extent to which these tariffs will influence key corporate financials in general. Operating within this increasingly ambivalent business environment, ElringKlinger at present still anticipates that global automobile production will expand by 2 to 3% in 2018 and remains confident that it can exceed this figure by around 2 to 4 percentage points in terms of revenue growth. Additionally, the Group can confirm its 2018 EBIT margin target of around 7%, before purchase price allocation, as revised in June.

ElringKlinger has positioned itself very well in strategic terms to engage in the process of transition within the global automotive industry. In view of its highly sought-after and technologically advanced products, the Group remains confident that it can continue to expand faster in the medium term than automobile production, calculated on the basis of its revenue growth, and that it can gradually improve profitability levels in terms of its EBIT margin before purchase price allocation.

For further information, please contact:
ElringKlinger AG
Dr. Jens Winter
Strategic Communications
Max-Eyth-Straße 2
72581 Dettingen/Erms | Germany
Phone: +49 7123 724-88335
Fax: +49 7123 724-85 8335
E-mail: jens.winter[at]elringklinger.com

Key Financials for Q2 and H1 of 2018

* Incl. gain from sale of Hug subgroup

About ElringKlinger AG
As an automotive supplier, ElringKlinger has become a trusted partner to its customers - with a firm commitment to shaping the future of mobility. Be it optimized combustion engines, high-performance hybrids, or environmentally-friendly battery and fuel cell technology, ElringKlinger provides innovative solutions for all types of drive systems. ElringKlinger's lightweighting concepts help to reduce the overall weight of vehicles. As a result, vehicles powered by combustion engines consume less fuel and emit less CO₂, while those equipped with alternative propulsion systems benefit from an extended range. In response to increasingly complex combustion engine technology, the Group also continues to make refinements with regard to gaskets in order to meet the highest possible standards. This is complemented by solutions centered around thermal and acoustic shielding technology. Additionally, the Group's portfolio includes products made of the high-performance plastic PTFE which are also marketed to industries beyond the automotive sector. These efforts are supported by a dedicated workforce of almost 10,000 employees at 45 ElringKlinger Group locations around the globe.

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.