Investor Relations

Announcements

Here you find an overview of our latest corporate news.

19. February 2020 - 07:32 | Press Release

ElringKlinger presents preliminary results for FY 2019: considerable success from efficiency program

Revenue up by 1.6% to EUR 1,727 million, organically by 0.5%
EBIT before purchase price allocation (PPA) at EUR 63.2 million, EBIT margin before PPA at 3.7%
Operating free cash flow at EUR 175.8 million, net debt down substantially at EUR 595.3 million
Q4 2019: revenue down by 2.8% to EUR 419.9 million, organically -4.0%; EBIT before PPA at EUR 24.8 million, resulting in EBIT margin of 5.9%
2020 outlook to be presented with publication of annual report at end of March

Dettingen/Erms (Germany), February 19, 2020 +++ The preliminary, unaudited results of the ElringKlinger Group for the 2019 financial year point to the positive impact of the efficiency program launched at the beginning of 2019: the Group's operating free cash flow totaled EUR 175.8 million, which represents a year-on-year improvement of EUR 262.0 million. At the heart of this is a disciplined approach to capital expenditure on property, plant, and equipment as well as investment property. As planned, at EUR 92.2 million, this figure was markedly lower than in the previous year (EUR 163.5 million). At the same time, inventory management was consistently optimized and payment terms for trade payables were extended. The partial use of financial instruments also made it possible to reduce trade receivables, with the result that net working capital was scaled back significantly to EUR 423.5 million or 24.5% of revenue. In the previous year this ratio had stood at 33.4%.

As a consequence of the Group's strong operating free cash flow, net financial liabilities were driven back for the third consecutive quarter to EUR 595.3 million. Without the effect of the first-time application of IFRS 16 in 2019, this figure would have been down by a further EUR 46.7 million as of December 31. At 3.3, the Group thus also has a significantly better net debt/EBITDA ratio. At the end of the first quarter of 2019, this ratio had stood at 4.7.

As Dr. Stefan Wolf, CEO of ElringKlinger AG, explains: "In implementing our efficiency program, we have set the right levers to make the Group sustainably fit for the future. Operating free cash flow is well within positive territory, net debt has been noticeably reduced, and earnings have stabilized over the course of the year. We will continue to pursue this path consistently in the future."

In terms of earnings, the Group further improved on the previous year's quarter with a solid fourth quarter in 2019. With EBIT before purchase price allocation (PPA) totaling EUR 24.8 million, the figure is EUR 13.0 million higher than in Q4 2018. This performance was supported to some extent by the sale of an industrial park in Hungary, which resulted in other operating income of EUR 8.6 million and a cash inflow of EUR 21.6 million. After a difficult start, ElringKlinger showed signs of gradual improvement in earnings over the course of the year. In total, the Group recorded EBIT before PPA of EUR 63.2 million, which corresponds to a margin of 3.7%. The Group had anticipated a figure of around 4 to 5%.

In response Dr. Wolf explains: "Overall, our earnings performance was not satisfactory, but the host of measures aimed at cost streamlining did prove effective. Among other things, we managed to reduce the follow-up costs resulting from persistently strong demand in North America. We expect to see discernible earnings potential here in the current year. However, it remains to be seen to what extent external effects, such as the economic consequences of the coronavirus in China, will impact on business.

At EUR 1,727.0 million, Group revenue grew by EUR 28.0 million or 1.6% year on year in 2019 despite challenging market conditions. The effects of currency translation - primarily relating to the US dollar, but also the Mexican peso and the Swiss franc - made a significant contribution of EUR 25.1 million or 1.5%. Additionally, the Group was faced with changes to the scope of consolidation as a result of M&A transactions (from the sale of Hug in 2018) totaling EUR -6.2 million or -0.4%. Eliminating the effects of foreign exchange rates and consolidation, the Group saw revenue expand by EUR 9.1 million or 0.5% organically. Calculated on the basis of global automobile production, which declined by close to 6% in 2019, the Group saw its revenue outpace the market as a whole by more than 6 percentage points. Thus, the company exceeded its target of outperforming market growth by 2 to 4 percentage points in terms of organic sales.

ElringKlinger will publish its full and definitive results for the 2019 financial year as well as its outlook for the current financial year on March 30, 2020.

Preliminary, unaudited figures for FY 2019 and Q4 2019

EUR million	FY 2019	FY 2018	∆ abs.	∆ rel.	Q4 2019	Q4 2018	∆ abs.	∆ rel.
Revenue	1,727.0	1,699.0	+28.0	+1.6%	419.9	431.8	-11.9	-2.8%
of which FX effects			+25.1	+1.5%			+5.3	+1.2%
of which M&A			-6.2	-0.4%			+0.0	+0.0%
of which organic			+9.1	+0.5%			-17.2	-4.0%
EBITDA	181.0	196.6	-15.6	-7.9%	57.4	37.8	+19.6	+51.9%
EBIT before purchase price allocation (PPA)	63.2	100.2	-37.0	-36.9%	24.8	11.8	+13.0	>+100%
EBIT margin before PPA (in %)	3.7	5.9	-2.2PP		5.9	2.7	+3.2PP
Purchase price allocation	1.9	4.0	-2.1	-52.5%	0.4	1.2	-0.8	-66.7%
EBIT	61.2	96.2	-35.0	-36.4%	24.3	10.6	+13.7	>+100%
Investments (in property, plant, equipment and investment property)	92.2	163.5	-71.3	-43.6%	17.4	41.9	-24.5	-58.5%
Operating free cash flow	175.8	-86.2	+262.0	<-100%	65.7	2.6	+63.1	>+100%
Net working capital	423.5	568.0	-144.5	-25.4%
Net financial liabilities	595.3	723.5	-128.2	-17.7%

Learn more

05. February 2020 - 10:14 | Press Release

ElringKlinger's fuel cell exceeds expectations in EU-funded 'GiantLeap' project

Successful completion of multi-year, EU-sponsored project to develop and test fuel-cell-powered range extender for electric buses under real conditions
Excellent laboratory results of the fuel cells fully confirmed in a bus of Dutch bus manufacturer VDL Bus & Coach
No impairment to performance and operating stability of the stacks even under adverse conditions until the end of the project

Dettingen/Erms (Germany), February 5, 2020 +++ Fuel cell stacks developed by ElringKlinger AG have achieved excellent results as part of the EU-sponsored "GiantLeap" project. The stacks were fitted to a full-electric bus of the Dutch bus manufacturer VDL Bus & Coach, tested under real traffic conditions, and, in the course of that, subjected to adverse conditions. The overall performance of the stacks was safeguarded in when they were exposed to detrimental operating conditions such as fuel starvation, elevated temperatures and over-pressure, emergency shutdowns of the system during the development period, and human error. The final report of the multi-year project states: "The overall performance of the system exceeded expectations. [...] ElringKlinger stacks used in GiantLeap displayed an excellent performance throughout the project. [...] Still, right to the end of the project, the stacks were in their specified power range."

Armin Diez, Head of the Fuel Cell Technology business unit at ElringKlinger, says: "We greatly appreciate the successful completion of the project. It again confirms the excellent testing results of our fuel cell stacks in a real application environment. The basis for the implementation of the stack technology used in this project are patented design features and high-precision manufacturing processes, which have been developed from existing products that have already been manufactured in series for decades. This know-how makes our fuel cells a high-performance, efficient, and sustainable solution for our customers on their way to zero-emission mobility."

As part of the "GiantLeap" project, a total of six corporations and institutions developed and established a fuel-cell-powered range extender for full-electric buses as partners. The range extender includes a system with two stacks. The fuel cells were used in a separate trailer for the bus and tested in real traffic. The project was sponsored by the EU via the Fuel Cell and Hydrogen Joint Undertaking (FCH JU). The objective of the FCH JU is to promote research, technological development, and demonstration of fuel cells and hydrogen technology in Europe.

ElringKlinger has been active in the research and development of fuel cells for around 20 years and operates in the market as a system and component supplier. The stacks are based on PEM technology and convert chemical energy into electrical energy and water using hydrogen and oxygen. They are particularly suitable for mobile applications with long-range operation. Applications include buses and cars, but also industrial applications, such as commercial vehicles and industrial trucks.

Stacks from ElringKlinger for integration into customer systems are available with an electrical output of 2 to 150 kW. These reduce the complexity as well as the costs of the full system through the takeover of system functionalities by integrated peripheral components.

About ElringKlinger AG
As an independent and globally positioned supplier, ElringKlinger is a powerful and reliable partner to the automotive industry. Be it passenger car or commercial vehicle, equipped with an optimized combustion engine, with hybrid technology, or with an all-electric motor - we offer innovative solutions for all types of drive system. In doing so, we are making a committed contribution to sustainable mobility. Our 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. Developing cutting-edge battery and fuel cell technology as well as electric drive units, we were among the frontrunners when it came to positioning ourselves as a specialist in the field of e-mobility. At the same time, we are committed to evolving our sealing technology for a wide range of applications. Our shielding systems are designed to ensure high-end temperature and acoustics management throughout the vehicle. Dynamic precision parts developed by ElringKlinger can be used in all types of drive system. Additionally, the Group's portfolio includes engineering services, tooling technology, and products made of high-performance plastics, which are also marketed to industries beyond the automotive sector. These efforts are supported by a dedicated workforce of more than 10,000 people at 45 ElringKlinger Group locations around the globe.

About the FCH JU
The Fuel Cells and Hydrogen Joint Undertaking (FCH JU) is a unique public private partnership supporting research, technological development and demonstration (RTD) activities in fuel cell and hydrogen energy technologies in Europe. Its aim is to accelerate the market introduction of these technologies, realising their potential as an instrument in achieving a carbon-lean energy system. The three members of the FCH JU are the European Commission, fuel cell and hydrogen industries represented by Hydrogen Europe and the research community represented by the research grouping Hydrogen Europe Research.

Learn more

15. January 2020 - 13:00 | Press Release

ElringKlinger joins Hydrogen Council

Dettingen/Erms (Germany), January 15, 2020 +++ ElringKlinger AG has become a new member of the Hydrogen Council. The Hydrogen Council is a global initiative of energy, transport, and industry companies. It is committed to establishing hydrogen as a central energy source of the future. ElringKlinger will contribute to this initiative its long-standing expertise in the development of fuel cell components and stacks for mobile applications.

The Hydrogen Council was launched in 2017 at the World Economic Forum in Davos and brings together companies from various branches of industry and key markets around the globe. As the world's first initiative of this kind, the Hydrogen Council has set itself the goal of establishing hydrogen as one of the principal solutions in response to the energy transition. The interest group is looking to accelerate the use of hydrogen-based technologies and applications.

"Our admission to the Hydrogen Council is a testament to our many years of expertise relating to fuel cells," says Dr. Stefan Wolf, CEO of ElringKlinger AG. "Together with other member companies of the Hydrogen Council, we want to drive forward efforts to develop and market hydrogen-based mobility applications."

ElringKlinger has been active within the area of fuel cell technology for around 20 years and serves the market as both a component and a system supplier. The Group's focus is on low-temperature fuel cells (PEMFC). Combining the benefits of high power density and highly dynamic power supply, PEMFC stacks are the perfect choice for mobile applications and – in conjunction with a decentralized supply of hydrogen – they are already a viable option for today's mobility needs.

ElringKlinger PEMFC stacks designed for integration into customer systems are available with an electrical output of 2 to 150 kWel. Stacks with peripheral components and system functionalities integrated into the end plate module are also available as an option. These features enable considerable simplification and cost reduction with regard to the fuel cell system. They are suitable for use in both passenger cars and light commercial vehicles such as forklifts as well as buses and trucks.

Alongside its proprietary fuel cell stacks, ElringKlinger is acknowledged in particular for its innovative fuel cell components, including patented designs for metallic bipolar plates and plastic media modules that complement the product range.

Learn more

12. November 2019 - 09:56 | Press Release

ElringKlinger receives another high-volume lightweighting order from US electric vehicle manufacturer

DGAP-News: ElringKlinger AG / Key word(s): Incoming Orders

12.11.2019 / 09:56
The issuer is solely responsible for the content of this announcement.

ElringKlinger receives another high-volume lightweighting order from US electric vehicle manufacturer

- Order for series supply of cockpit cross-car beams in hybrid design for new model of a leading US electric vehicle manufacturer

- Contract over a period of five years from 2020 onwards

- Medium to high double-digit million euro sales volume over the term of the agreement

- Production at ElringKlinger's Californian site in Fremont

Dettingen/Erms (Germany), November 12, 2019 +++ ElringKlinger AG is intensifying its cooperation with a leading US electric vehicle manufacturer. On the basis of its previous business relationship with lightweighting components, the global US electric vehicle pioneer has signed a series contract with the Dettingen-based supplier to deliver cockpit cross-car beams for its new full-electric model. The order will initially run for five years and has a total volume in the mid to high double-digit million euro range. Production at the Californian site in Fremont (USA) is scheduled to start in 2020.

"This follow-up contract underscores how advantageous our lightweighting components also are for full-electric vehicles," says Dr. Stefan Wolf, CEO of ElringKlinger AG. "It represents a further step in the successful implementation of the Group's strategy of generating more than 25% of sales in the next decade in the future business areas of structural lightweighting and e-mobility."

ElringKlinger uses an innovative production process that combines hydroforming and injection molding in a single process step to produce lightweight plastic components for car bodies. The resulting hybrid components made of plastic and metal combine the advantages of both materials: high dimensional accuracy of complex geometries with minimum tolerances and considerable structural strength in the event of a crash. At the same time, significant weight advantages over conventional metal variants can be achieved.

Lightweight construction is well established at ElringKlinger: since the late 1990s, the Group has been working on the substitution of metal by plastic. ElringKlinger makes targeted use of its comprehensive expertise in materials, processes and fabrication in order to be able to offer customized lightweight components for the drive train and car body. Since 2015, the Group has been manufacturing cockpit cross-car beams and front-end carriers made of polymer-metal hybrids at its plants in Leamington (Canada) and Suzhou (China), and since 2017 in Fremont (USA).

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
www.elringklinger.com

About ElringKlinger AG
As an independent and globally positioned supplier, ElringKlinger is a powerful and reliable partner to the automotive industry. Be it passenger car or commercial vehicle, equipped with an optimized combustion engine, with hybrid technology, or with an all-electric motor - we offer innovative solutions for all types of drive system. In doing so, we are making a committed contribution to sustainable mobility. Our 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. Developing cutting-edge battery and fuel cell technology as well as electric drive units, we were among the frontrunners when it came to positioning ourselves as a specialist in the field of e-mobility. At the same time, we are committed to evolving our sealing technology for a wide range of applications. Our shielding systems are designed to ensure high-end temperature and acoustics management throughout the vehicle. Dynamic precision parts developed by ElringKlinger can be used in all types of drive system. Additionally, the Group's portfolio includes engineering services, tooling technology, and products made of high-performance plastics, which are also marketed to industries beyond the automotive sector. These efforts are supported by a dedicated workforce of more than 10,000 people at 44 ElringKlinger Group locations around the globe.

12.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at 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:	jens.winter@elringklinger.com
Internet:	www.elringklinger.de
ISIN:	DE0007856023
WKN:	785602
Listed:	Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange
EQS News ID:	909207


End of News	DGAP News Service

Learn more

06. November 2019 - 07:31 | Press Release

ElringKlinger confirms positive cash flow development in third quarter

DGAP-News: ElringKlinger AG / Key word(s): Quarterly / Interim Statement/9 Month figures

06.11.2019 / 07:31
The issuer is solely responsible for the content of this announcement.

ElringKlinger confirms positive cash flow development in third quarter

- Revenue expands by 6.4% to EUR 431.9 million in third quarter and by 3.1% to EUR 1,307.1 million after first nine months

- EBIT margin before purchase price allocation up quarter by quarter from 1.6% (Q1) and 2.5% (Q2) to 4.8 % (Q3); total after nine months at 2.9% - EBIT before purchase price allocation at EUR 20.8 million (Q3) and EUR 38.4 million (9M)

- Cash flow optimization program on track: operating free cash flow at EUR 30.8 million in third quarter and EUR 110.1 million in first nine months

- Outlook reaffirmed within challenging market environment

Dettingen/Erms (Germany), November 6, 2019 +++ ElringKlinger AG maintained its trajectory of growth in the third quarter of 2019: despite a downturn in global vehicle production, Group revenue was lifted by 6.4% year on year in the period from July to September 2019, taking the total to EUR 431.9 million. Organic revenue growth, i.e., the figure adjusted for currency effects and M&A activities, stood at 4.0%. Thus, ElringKlinger yet again outpaced the vehicle industry as a whole by a significant margin, with the latter experiencing a global downturn in production of 3.6% in the same period.

North America continues to drive revenue growth
Persistently strong demand in the region of North America continues to be a key revenue driver for ElringKlinger. Here, the Group recorded year-on-year growth of 25.0% in the third quarter of 2019. This above-average expansion in revenue was attributable to a number of new product rollouts as well as the sustained buoyancy in demand for Group products fitted to particularly successful vehicle models. Despite an economic slowdown of around 6% within the market, ElringKlinger also managed to increase revenue by 4.7% in the Asia-Pacific region. Sales revenue was also up in the Rest of Europe, rising by 4.3% in the third quarter of 2019. Growth was attributable primarily to the aftermarket business in Eastern Europe. By contrast, ElringKlinger had to contend with a decline in revenue by 6.3% in Germany as a result of the economic climate.

Operating result improved quarter on quarter
Earnings before interest and taxes (EBIT) and before purchase price allocation amounted to EUR 20.8 million in the third quarter and EUR 38.4 million in the first nine months of 2019. ElringKlinger thus managed to increase its EBIT margin before purchase price allocation quarter by quarter over the course of the year: after 1.6% and 2.5% respectively in the first two quarters it stood at 4.8% in the third quarter. In this context, the internal cost-reduction program proved successful, as did the operational improvements made at sites with a high level of capacity utilization. In addition, the Group received reimbursements with regard to tariffs that had adversely affected earnings in the previous quarters.

Program to optimize cash flow on track
Key financial performance indicators continued to improve within the ElringKlinger Group over the course of the third quarter of 2019. The cash flow optimization program initiated by the Management Board took further effect, as a result of which operating free cash flow was lifted to EUR 30.8 million in the third quarter and to EUR 110.1 million in the first nine months of 2019. This was driven in particular by a further reduction in net working capital. In addition, the Group continues to pursue its disciplined approach to capital expenditure. Consequently, it managed to scale back net debt by EUR 114.0 million in the last two quarters.

"Our results for the first nine months illustrate that ElringKlinger continues to perform well despite the market downturn experienced by the automobile industry. This is a testament to our innovative product portfolio and our efficiency program," says Dr. Stefan Wolf, CEO of ElringKlinger AG. "Based on revenue growth, we by far exceeded the performance of the global vehicle industry as a whole, in addition to further improving our profitability in the course of the year with the help of cost-reduction measures implemented within the Group."

Improvement in order intake and order backlog
Despite the general market malaise, ElringKlinger's order books remained very robust. In the third quarter of 2019, the Group recorded an order intake of EUR 437.6 million. This represents an increase of EUR 25.8 million or 6.3% compared with the same quarter a year ago. Adjusted for currency effects, the increase amounted to EUR 3.2 million or 0.8%. At EUR 1,068.7 million, order backlog was up by EUR 41.5 million or 4.0% year on year. If exchange rates had remained unchanged, the figure would still have been up by EUR 19.8 million or 1.9%.

Sustained weakness of global automobile production
The market environment continues to be exposed to a number of political and economic uncertainties. Influencing factors such as trade disputes, various Brexit scenarios, and geopolitical conflicts in the Middle East may have an impact on the economy as a whole. This is compounded by the economic downturn within the global automotive industry. The key markets around the globe - China, North America, and Europe - in particular are showing signs of a slowdown, in some cases severe. Over the course of the year, projections issued by banks, industry associations, and information services have gradually been revised downward for 2019. Based on these figures, global vehicle production is now expected to fall by -6% to -4% in 2019, although it remains difficult to be precise about the extent of the contraction given the numerous political and economic uncertainties and the volatile and strained environment.

Outlook reaffirmed in challenging market environment
Despite this situation, based also on its robust order books, ElringKlinger is still of the opinion that its performance in terms of revenue will be better than that seen within the market as a whole. Against this background, the Group remains confident that it can outpace the expansion in global automobile production by 2 to 4 percentage points in terms of organic revenue growth. Assuming persistently strong demand in the NAFTA region, revenue growth may also be slightly higher.

Alongside the market slowdown, elevated commodity prices, and the costs associated with trade disputes, persistently strong demand in the NAFTA region and start-up costs relating to a new plant in the United States will have an impact on earnings performance in 2019. ElringKlinger was quick to take countermeasures during the current financial year and introduced a far-reaching program aimed at streamlining its costs. ElringKlinger is also set to generate income in the high single-digit million-euro range in the fourth quarter from a real estate sale. Taking into account these factors and challenging market conditions, the Group continues to expect to achieve its target of an EBIT margin before purchase price allocation of around 4% to 5% for the 2019 financial year. This assumes that no further significant externalities emerge as a drag on earnings and that markets do not weaken any further than already anticipated.

Key Financials for Q3 and 9M of 2019

EUR million	9M 2019	9M 2018	∆ abs.	∆ rel.	Q3 2019	Q3 2018	∆ abs.	∆ rel.
Order intake	1,355.7	1,344.6	+11.1	+0.8%	437.6	411.8	+25.8	+6.3%
Order backlog	1,068.7	1,027.2	+41.5	+4.0%	1,068.7	1,027.2	+41.5	+4.0%
Revenue	1,307.1	1,267.2	+39.9	+3.1%	431.9	405.8	+26.1	+6.4%
of which FX effects			+19.8	+1.6%			+9.9	+2.4%
of which M&A			-6.2	-0.5%			+0.0	+0.0%
of which organic			+26.3	+2.0%			+16.2	+4.0%
EBITDA	123.6	158.8	-35.2	-22.2%	49.8	48.4	+1.4	+2.9%
EBIT before purchase price allocation	38.4	88.5*	-50.1	-56.6%	20.8	23.8	-3.0	-12.6%
EBIT margin before purchase price allocation (in %)	2.9	7.0*	-4.1PP	-	4.8	5.9	-1.1PP	-
Purchase price allocation	1.5	2.9	-1.4	-	0.5	1.0	-0.5	-
EBIT	36.9	85.6*	-48.7	-56.9%	20.3	22.9	-2.6	-11.4%
Net finance cost	-14.7	-11.4	-3.3	-	-5.0	-1.0	-4.0	-
EBT	22.2	74.2*	-52.0	-70.1%	15.3	21.8	-6.5	-29.8%
Taxes on income	24.8	26.2	-1.4	-5.3%	8.2	9.5	-1.3	-13.7%
Net income (after non-controlling interests)	-3.4	45.0*	-48.4	>-100%	6.7	10.8	-4.1	-38.0%
Earnings per share (in EUR)	-0.05	0.71	-0.76	>-100%	0.11	0.17	-0.06	-35.3%
Investments (in property, plant, and equipment and investment property)	74.9	121.6	-46.7	-38.4%	25.4	53.9	-28.5	-52.9%
Operating free cash flow	110.1	-88.8	+198.9	>+100%	30.8	-46.5	+77.3	>+100%
Net working capital	478.3	613.8	-135.5	-22.1%
Equity ratio (in %)	40.7	42.1	-1.4PP	-
Net financial liabilities	681.5	728.5	-47.0	-6.5%
Employees (as of Sep. 30)	10,492	10,231	+261	+2.6%

* incl. gain from sale of Hug subgroup (EUR 21.1 million before taxes)

About ElringKlinger AG
As an independent and globally positioned supplier, ElringKlinger is a powerful and reliable partner to the automotive industry. Be it passenger car or commercial vehicle, equipped with an optimized combustion engine, with hybrid technology, or with an all-electric motor - we offer innovative solutions for all types of drive system. In doing so, we are making a committed contribution to sustainable mobility. Our 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. Developing cutting-edge battery and fuel cell technology as well as electric drive units, we were among the frontrunners when it came to positioning ourselves as a specialist in the field of e-mobility. At the same time, we are committed to evolving our sealing technology for a wide range of applications. Our shielding systems are designed to ensure high-end temperature and acoustics management throughout the vehicle. Dynamic precision parts developed by ElringKlinger can be used in all types of drive system. Additionally, the Group's portfolio includes engineering services, tooling technology, and products made of high-performance plastics, which are also marketed to industries beyond the automotive sector. These efforts are supported by a dedicated workforce of more than 10,000 people 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.

06.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at 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:	jens.winter@elringklinger.com
Internet:	www.elringklinger.de
ISIN:	DE0007856023
WKN:	785602
Listed:	Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange
EQS News ID:	905609


End of News	DGAP News Service

Learn more

Financial Calendar

Learn more

Publications & Presentations

Learn more

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.

Learn more