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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.
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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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Change to Supervisory Board of ElringKlinger

ElringKlinger AG / Key word(s): Change of Personnel

24-March-2017 / 10:48 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.


Change to Supervisory Board of ElringKlinger


Dettingen/Erms (Germany), March 24, 2017 +++ The Chairman of the Supervisory Board of ElringKlinger AG, Walter H. Lechler, informed the Supervisory Board, at its meeting convened today, of his intention to stand down from his post at the end of the Annual General Meeting on May 16, 2017, and vacate the Supervisory Board. In doing so, he is following the standard practice embraced by the family of principal shareholders not to occupy key positions beyond the age of 75.


For further information, please contact:

ElringKlinger AG
Dr. Jens Winter
Investor Relations / Corporate PR
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
ElringKlinger has focused its efforts on developing forward-looking green technologies. These are designed not only to reduce CO2 emissions but also to scale back the level of harmful nitrogen oxides, hydrocarbons, and soot particles. ElringKlinger is one of the few automotive suppliers worldwide with the capabilities of developing and producing high-tech components for all types of drive system - whether for downsized combustion engines or for electric vehicles driven by batteries or fuel cells. Drawing on its expertise in lightweight engineering, ElringKlinger can make a decisive contribution to efforts aimed at further reducing vehicle weight and thus fuel consumption. The company's portfolio centered around emissions reduction also includes particulate filters and end-to-end exhaust gas purification systems used in ships, commercial vehicles, construction machinery, and stationary engines as well as in power stations. This is complemented by products made of the high-performance plastic PTFE supplied by ElringKlinger Kunststofftechnik, which are marketed to a wide range of industries - also to those operating beyond the vehicle manufacturing sector. Applying its abilities as an innovator, ElringKlinger is committed to sustainable mobility and earnings-driven growth. These efforts are supported by a dedicated workforce of around 8,600 people at 47 ElringKlinger Group locations around the globe.


24-March-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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ElringKlinger sets progressive course for mobility of the future

  • Acquisition of interests in hofer powertrain Engineering Group and hofer powertrain products GmbH
  • Strategic advancement of ElringKlinger in the area of innovative drive systems for hybrid and all-electric vehicles


Dettingen/Erms (Germany), October 27, 2016  +++  ElringKlinger AG is toacquire a strategic interest of 27% in the engineering company hofer AG. The transaction also encompasses a 53% majority interest of ElringKlinger in the subsidiary hofer powertrain products GmbH operating within the Nürtingen-based group of companies. The purchase price of the entiretransaction is a double-digit figure in the million euro range and will be settled subsequent to closing, which is to take place no earlier than January 1, 2017. As from closing date, the subsidiary will be fully consolidated within ElringKlinger. Hofer AG is an expert system developer to the automotive industry, focusing on systems within the drive train as well measuring, testing, and installation technology. In acquiring the ownership interest, ElringKlinger will benefit from the aforementioned innovatory abilities, particularly in the development and production of alternative drive technologies. The focus in particular is on small-series production within the sports and luxury car segment. Therefore, alongside battery and fuel cell technology, the group's portfolio will include expertise in the field of transmission systems, electric engine, electronics and software. "In taking this logical step, ElringKlinger is further expanding its activities in the area of innovative drive technologies," says Dr. Stefan Wolf, CEO of ElringKlinger AG. "Alongside lightweight components that are independent of the drive system, electromobility will represent an additional key pillar for the future development of the Group." As regards e-mobility, ElringKlinger has until now mainly been operating in the area of and cell contact systems and battery housing. The transaction underscores the strategic direction taken by ElringKlinger, the ambition being to act as one of the first points of contact for automobile manufacturers when it comes to developing and implementing new ideas. The above-mentioned acquisition of an ownership interest extends the Group's key competencies to include drivetrain solutions for hybrid and all-electric systems.

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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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