Announcements

Due to the ongoing coronavirus pandemic, ElringKlinger AG has decided to host the upcoming Annual General Meeting on July 7, 2020 virtually, as protecting the health of shareholders, employees and service providers is a top priority for the Group. This is also in line with the contact restrictions and the resulting ban on major events, which is to apply until at least 31 August 2020.

Dettingen/Erms (Germany), April 23, 2020 +++ In the wake of the coronavirus pandemic, ElringKlinger AG decided early in March to postpone the Annual General Meeting, originally scheduled for May 19, 2020, to the later date of July 7, 2020. In mid-April, the Federal Government agreed with the state governments to extend the ban on major events until at least August 31, 2020. In addition, with the law on COVID-19 measures, the legislator made it possible for annual general meetings to be held virtually at short notice.

In order to protect the health of shareholders, employees and involved service providers, and in accordance with the state regulation, ElringKlinger AG will therefore refrain from the physical presence of shareholders and their proxies and hold the Annual General Meeting on July 7, 2020 as a purely virtual event. After registering in due time, shareholders can participate in the Annual General Meeting via the Internet and exercise their voting rights by proxy designated by the company or by postal vote. Questions regarding the agenda can be submitted in advance.

Further details will be included in the invitation to the Annual General Meeting, which will be published in the electronic Federal Gazette no later than May 29, 2020.

Dettingen/Erms (Germany), April 17, 2020 +++ Based on the preliminary results, Group revenue generated by ElringKlinger AG (ISIN DE 0007856023 / WKN 785602) was lower in the first quarter of 2020. At EUR 396 million, revenues were noticeably down on the figure of EUR 441 million posted for the first quarter of 2019. The decline by EUR 45 million or 10 % is attributable primarily to the economic downturn in Europe and the impact of the coronavirus pandemic in Asia, where the Chinese plants, in particular, were affected by the extended New Year vacation and state-ordered closures.

Earnings before interest and taxes (EBIT) for the ElringKlinger Group appear to have remained unaffected by the impact of the global coronavirus pandemic in the first quarter of 2020. At EUR 16 million, the figure is well above the prior-year total of EUR 6.4 million. Based on an initial analysis, the reason for this is that the measures implemented by the Management Board to raise efficiency levels at the North American and European plants are taking effect. This more than compensated for the negative earnings effects of the coronavirus pandemic in Asia. It should also be noted that the result for the first quarter of 2019 had been affected by charges attributable to US countervailing and anti-dumping duties.

Although the performance of the first quarter of 2020 illustrates that the Group as a whole is on the right track, it must be assumed that Group revenues and earnings will be significantly impacted in the second quarter of 2020 due to the current interruptions to production in Europe and North America. Substantial charges are expected.

The detailed results and the report on the first quarter will be published as planned on May 7, 2020.

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.