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Here you find an overview of our latest corporate news.

Ad-Hoc-Release

ElringKlinger with preliminary results for fiscal 2018, outlook for 2019, and proposal for dividend suspension

ElringKlinger AG / Key word(s): Preliminary Results/Dividend
ElringKlinger with preliminary results for fiscal 2018, outlook for 2019, and proposal for dividend suspension

19-Feb-2019 / 17:24 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


ElringKlinger with preliminary results for fiscal 2018, outlook for 2019, and proposal for dividend suspension

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 was up by EUR 33.0 million or 2.0 % in 2018. Organic revenue growth, i.e., adjusted for the effects of currencies and consolidation, stood at EUR 121.8 million or 7.3 %. Thus, the company has exceeded its target of outperforming market growth organically by 2 to 4 percentage points.

EBIT before purchase price allocation amounted to EUR 100.4 million, which corresponds to a margin of 5.9 %. The Group had originally anticipated a margin of around 7%. In the fourth quarter, too, several factors contributed to the lower-than-expected EBIT margin: commodity prices - also due to tariffs on steel and aluminum - remained high. In addition, although the Group succeeded in further implementing optimization measures in the NAFTA region, the positive effects on earnings fell short of expectations so far. 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 - also in conjunction with the successful conclusion of a syndicated loan agreement for EUR 350 million - for the Group's transformation process.

For 2019, ElringKlinger anticipates that it will again exceed in terms of organic growth - by 2 to 4 percentage points - the rate of expansion in global automobile production, which is currently estimated at 0 to +1 %. However, as regards earnings performance, it is unlikely that the proceeds generated from the sale of the Hug subgroup, which contributed to earnings in 2018, can be fully compensated for in fiscal 2019. Efforts aimed at cost streamlining in Switzerland will be completed in 2019 and measures implemented in the NAFTA region are expected to advance significantly. However, difficult market conditions in many regions of the world, the political and economic uncertainty, and the unpredictable 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. Therefore, the Group will be looking 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.


Information and Explanation of the Issuer to this News:

Please note: A conference call is scheduled for tomorrow, February 20, 2019 at 10:00 am CET in connection with the publication of the Group's preliminary results.


19-Feb-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



 

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Ad-Hoc-Release

ElringKlinger agrees syndicated loan of EUR 350 million

ElringKlinger AG / Key word(s): Financing
ElringKlinger agrees syndicated loan of EUR 350 million

15-Feb-2019 / 14:18 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


ElringKlinger agrees syndicated loan of EUR 350 million

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. 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. In taking this step, the Group has optimized its financing structure and created a more solid foundation for corporate planning, also with regard to the transformation process in the automotive industry.

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.


15-Feb-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



 

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Ad-Hoc-Release

ElringKlinger revises earnings guidance for current financial year

ElringKlinger AG / Key word(s): Profit Warning
ElringKlinger revises earnings guidance for current financial year

25-Jun-2018 / 15:43 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


ElringKlinger revises earnings guidance for current financial year

Dettingen/Erms (Germany), June 25, 2018 +++ ElringKlinger AG conducted a reassessment of its opportunities and risks for the 2018 financial year as a whole on the basis of consolidated earnings for the months of April and May 2018 and against the backdrop of persistently high levels of general uncertainty - both in political and macroeconomic terms but also with regard to operating activities. This reassessment revealed that raw material prices, particularly for polyamide, steel, and aluminum, have continued to surge. This is to be a seen as a significant additional expense factor within the Group as a whole. Additionally, the consistently high follow-on costs associated with sustained buoyancy in demand within the NAFTA region will continue to exert pressure on earnings. These factors may account for up to two percentage points of ElringKlinger's earnings margin in 2018, as a result of which the company now expects its earnings margin before interest, taxes, and purchase price allocation to be around 7% for the 2018 financial year as a whole. Prior to this adjustment, the Group's guidance in respect of its earnings margin had been around 9%. The Group's revenue expectations for 2018, i.e., to exceed growth in global automobile production by 2 to 4 percentage points in organic terms, remain unchanged.


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 9,600 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.


Information and Explanation of the Issuer to this News:

In connection with this announcement, a conference call will be arranged with CFO Thomas Jessulat on Tuesday, June 26, 2018, at 10:00 hrs (CEST) for the purpose of elucidating the points presented above.

25-Jun-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



 

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Ad-Hoc-Release

ElringKlinger creates dedicated Management Board role for e-mobility - Reiner Drews appointed COO

ElringKlinger AG / Key word(s): Change of Personnel
ElringKlinger creates dedicated Management Board role for e-mobility - Reiner Drews appointed COO

23-March-2018 / 13:35 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


ElringKlinger creates dedicated Management Board role for
e-mobility - Reiner Drews appointed COO

Dettingen/Erms (Germany), March 23, 2018 +++ Having focused to an increasing extent on electromobility, ElringKlinger will now introduce a dedicated Management Board function for this area. It is to be headed by Theo Becker. Reiner Drews will be appointed Chief Operating Officer as from April 1, 2018. The Management Board contract of Chief Financial Officer Thomas Jessulat has been extended.

At its meeting on March 23, 2018, the Supervisory Board of ElringKlinger AG passed a resolution for the introduction of a fourth area of Management Board responsibility. Theo Becker, former Chief Operating Officer of the ElringKlinger Group, will assume overall responsibility for this newly created function. Theo Becker will focus on the areas of battery technology and fuel cell technology, in addition to overseeing the integration of the hofer Group. These areas had already been part of his remit as a member of the Management Board. In creating a new Management Board role dedicated to e-mobility, the company has emphasized the importance of this field of business to ElringKlinger's future operations.

Reiner Drews (48), who has been employed at ElringKlinger since September 1, 2006, is currently responsible for the Speciality Gaskets and Cylinder-head Gaskets divisions. As from April 1, 2018, he will take over Management Board responsibility from Theo Becker for manufacturing operations, the German plants, and the area of quality assurance.

"We are delighted that in Reiner Drews as COO we have appointed an acknowledged operations expert, thereby tapping talent developed within our own ranks. Given the current scale of ElringKlinger's business, it is important that Theo Becker can focus entirely on our new fields of business. For ElringKlinger, the area of new drive technologies, in particular, holds tremendous opportunities for the future," says Chief Executive Officer Dr. Stefan Wolf.

In addition, the Supervisory Board extended the contract of Thomas Jessulat (48), Chief Financial Officer of ElringKlinger, by five years as from January 1, 2019, i.e., until December 31, 2023.


For further information, please contact:
ElringKlinger AG
Dr. Jens Winter
Investor Relations / Corporate PR
Max-Eyth-Straße 2
D-72581 Dettingen/Erms
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 vehicle manufacturers - 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. Additional solutions include thermal and acoustic shielding components as well as particulate filters and end-to-end exhaust gas purification systems for engines used in stationary and mobile applications. The Group's portfolio is complemented by 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 9,300 people at 45 ElringKlinger Group locations around the globe.


23-March-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



 

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Ad-Hoc-Release

ElringKlinger sells exhaust gas purification business

ElringKlinger AG / Key word(s): Disposal/Contract
ElringKlinger sells exhaust gas purification business

21-Dec-2017 / 22:32 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Dettingen/Erms (Deutschland), December 21, 2017 +++ ElringKlinger AG has reached an agreement with a major French automotive supplier for the sale of its exhaust gas purification business, as part of which the German company will divest itself from the Hug Group based in Elsau, Switzerland. The 93.67% interest held by ElringKlinger in Hug Engineering AG prior to the sale will thus pass entirely to the contracting party. The parties to the contract have agreed not to disclose details relating to the purchase consideration. The purchase agreement was signed on December 21, 2017; subject to antitrust clearance, the transaction is expected to be closed during the first quarter of 2018.

In completing this deal, ElringKlinger will withdraw from the business field of exhaust gas purification. This strategic decision is to be seen against the background of increasing globalization within this area of business, which would have necessitated further substantial investments by ElringKlinger in order to remain competitive in this market in the long term. ElringKlinger's strategic focus is mainly centered on the promising fields of lightweighting and e-mobility with its three supportive pillars of battery technology, fuel cell technology, and electric drive systems.

The Exhaust Gas Purification division currently operating within the Original Equipment segment offers solutions for engines deployed in both mobile - such as commercial vehicles, trains, and ships - and stationary applications. In 2016, it contributed around 3% to consolidated revenue within the ElringKlinger Group. Its share of business is estimated at a similar level for the current financial year.

 

About ElringKlinger AG
As an automotive supplier, ElringKlinger has become a trusted partner to vehicle manufacturers - with a firm commitment to shaping the future of mobility. Whether optimized combustion engines, high-performance hybrids, or environmentally-friendly battery and fuel cell technology, ElringKlinger provides innovative solutions for all types of drive system. 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 refine and evolve its offering within the area of seals and 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 is also marketed to industries beyond the automotive sector. These efforts are supported by a dedicated workforce of more than 9,000 people at 49 ElringKlinger Group locations around the globe.




Contact:
For further information, please contact:

ElringKlinger AG - Investor Relations/Corporate PR
Dr. Jens Winter
Max-Eyth-Straße 2
72581 Dettingen/Erms
Tel.: +49 (0)7123-724-88335
E-Mail: jens.winter@elringklinger.com

21-Dec-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



 

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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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