Announcements

EQS-News: ElringKlinger AG / Key word(s): Quarterly / Interim Statement/Quarter Results
ElringKlinger: Q1 2025 on track – next stage of transformation underway
08.05.2025 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

PRESS RELEASE

• Results for the first quarter of 2025: 
  • Group revenue at EUR 423.1 million (Q1 2024: EUR 465.3 million), year-on-year improvement of 2.2% in organic terms
  • Adjusted EBIT margin of 4.9% (Q1 2024: 5.2%) in line with annual target of around 5%
  • Operating free cash flow at EUR -120.3 million (Q1 2024: -5.8 million EUR) due to pre-financing of projects and extensive investment activity, net financial liabilities at EUR 370.4 million (Q1 2024: EUR 329.1 million)
• Management Board adopts STREAMLINE cost reduction program to enhance competitiveness; savings target: at least EUR 30 million p.a. from 2026
• CEO Thomas Jessulat: “We have already made strategic decisions for the purpose of focusing our activities, and we will concentrate on our profitable areas of business as we move forward. As part of the STREAMLINE program, we are now adapting our internal structures to ensure we are effectively positioned for the next stage of transformation."

ElringKlinger AG (ISIN DE0007856023 / WKN 785602) has presented its financial results for the first quarter of 2025. In the period under review, the ElringKlinger Group generated revenue of EUR 423.1 million (Q1 2024: EUR 465.3 million). In this context, it should be noted that the two divested Group entities in Switzerland and the United States had contributed revenue of EUR 44.7 million in the first quarter of 2024, i.e., the corresponding comparative base with regard to the same quarter of the previous year is EUR 420.6 million. Additionally, revenue was diluted by currency effects equivalent to EUR 7.9 million or 1.7%. In organic terms, i.e., adjusted for currency and M&A effects, revenue increased by EUR 10.4 million or 2.2%. This translates into a better performance than the market as a whole, which changed by +1.3% globally and -6.7% in Europe in the first quarter of 2025.

Sustained growth of E-Mobility business unit
While the Aftermarket segment expanded by 12.8% and Engineered Plastics by 12.1%, the Original Equipment segment saw a slight contraction, taking into account the sale of the two Group entities. Within the segment, the E-Mobility business unit once again more than doubled its revenue from EUR 11.3 million to EUR 26.8 million. This was driven in particular by the further ramp-up of a large-scale series production order for cell contacting systems at the Neuffen (Germany) site.

Adjusted EBIT margin on track
In terms of earnings, the Group remained on course amid difficult conditions in the first quarter of the year and recorded an adjusted EBIT margin of 4.9% (Q1 2025: 5.2%) on the back of adjusted EBIT of EUR 20.5 million (Q1 2024: EUR 24.0 million). With investments amounting to EUR 45.0 million (Q1 2024: EUR 16.9 million) and net working capital standing at EUR 454.4 million (Q1 2024: EUR 489.3 million), operating free cash flow totaled EUR -120.3 million in the first quarter of 2025 (Q1 2024: EUR -5.8 million); around a third of this was attributable to investments in property, plant, and equipment. In view of the forthcoming ramp-up of further high-volume series production orders and the associated preparations, elevated figures had been anticipated for investments and diluted figures with regard to cash flow compared to previous year’s quarter. As a result of these changes, net financial liabilities of EUR 370.4 million (March 31, 2024: EUR 329.1 million) were up on the corresponding prior-year figure.

Commenting on the quarterly results, Thomas Jessulat, CEO of the ElringKlinger Group, said: “We are currently investing in the manufacture of E-Mobility products on the basis of the high-volume orders we have received. In Neuffen, production relating to the first order for cell contacting systems continues to ramp up, with work on a further order scheduled to commence at the end of the year. We are also making preparations for series production in China and are in the process of setting up our Battery Hub Americas in South Carolina in the United States. These key steps towards growth are reflected in investments as well as in cash flow and net financial liabilities. Essentially, we are on track to meet our annual targets for 2025."

Guidance confirmed
The Group's projections for revenue in 2025 remain in line with the prior-year figure in organic terms, while the adjusted EBIT margin is expected to be around 5%. As regards operating free cash flow, ElringKlinger's guidance remains at around 1 to 2% of Group revenue. The Group's target for its net debt-to-EBITDA ratio (net financial liabilities in relation to EBITDA) is around 2. Alongside the other key metrics for 2025, the medium-term outlook has also been confirmed.

STREAMLINE cost reduction program in support of greater competitiveness
In an effort to further bolster ElringKlinger's targeted positioning for the future and to improve the Group's ability to compete on a sustainable basis, the Management Board has resolved to implement the STREAMLINE program aimed at reviewing and trimming the Group's staff cost structure. STREAMLINE includes selective measures for various groups of employees and is aimed at optimizing the Group's capacity levels in its individual corporate and business units. The guiding principle for employees at the German locations is that all actions are mutually voluntary in nature. In this context, one of the core elements of the program is an intragroup job market to help reassign employees to other areas. The program aims to streamline the Group's staff costs by at least EUR 30 million per annum from 2026.

Thomas Jessulat, CEO: “Over the past few years, ElringKlinger has established a broad product portfolio and evolved its organizational capabilities accordingly. As part of the transformation of our industry, we have already made strategic decisions for the purpose of focusing our activities, and we will concentrate on our profitable areas of business as we move forward. Our STREAMLINE program is aimed at adapting our internal structures to the new circumstances so that we are effectively positioned for the next stages of transformation."

In rolling out its SHAPE30 transformation strategy, the Group has already put in place key measures to ensure it remains competitive well into 2030. Alongside the sale of two entities in Switzerland and the United States, this also includes the decision to discontinue its system business for electric drive units and concentrate on the profitable components business. The Group is also consolidating its global network of sites.

Key financials for Q1 2025

* The figures for the first quarter of 2025 reflect the completion of the divestiture of the two subsidiaries in Buford, GA (USA) and Sevelen (CH) at the end of 2024.

^◊ Figures adjusted for the contribution of the two subsidiaries in Buford, GA (USA) and Sevelen (CH)

About ElringKlinger  
As an independent supplier operating worldwide, the ElringKlinger Group has established itself as a powerful and trusted partner to the automotive industry – acknowledged for its exceptional depth of expertise. Our product portfolio encompasses innovative solutions for passenger cars and commercial vehicles powered by electric motors, hybrid technology, or combustion engines. Alongside the powertrain, other areas of application include the underbody, chassis, braking system, interior, and vehicle body. We were among the frontrunners when it came to positioning ourselves as a specialist in the field of e-mobility – with pioneering battery and fuel cell technology, and associated components and assemblies, such as plastic housings, and punched and formed metal parts.

Customized lightweight components engineered by ElringKlinger can be used throughout the entire vehicle; they deliver tangible benefits in terms of weight reduction, efficiency, and functional integration, especially in e-mobility applications.

Additionally, we serve the aftermarket in more than 140 countries with an extensive range of spare parts.

These efforts are supported by a dedicated workforce of more than 9,000 people employed within the ElringKlinger Group. Operating at more than 40 sites worldwide, ElringKlinger has established a global presence and is closely aligned with its customers in all major automotive regions.

Legal notice
This release contains forward-looking statements. These statements are based on the expectations, market assessments, and forecasts of the Management Board and the information currently available to it. These forward-looking statements shall, in particular, not be construed as guarantees of future developments and results referred to therein. Although the Management Board is of the firm opinion that the statements made and their underlying beliefs and expectations are realistic, they are based on assumptions that may prove to be incorrect. Future results and developments depend on a variety of factors, risks, and uncertainties that may lead to changes in the expectations and judgments that have been expressed. These factors include, for example, changes in general economic and business conditions, fluctuations in exchange rates and interest rates, lack of acceptance of new products and services, and changes in business strategy.

08.05.2025 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group.
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EQS-News: ElringKlinger AG / Key word(s): Personnel
ElringKlinger to expand Group Management Board
02.04.2025 / 11:20 CET/CEST
The issuer is solely responsible for the content of this announcement.

PRESS RELEASE

• Isabelle Damen to join Group Management Board as CFO from August 1, 2025
• Financial matters overseen by CEO Thomas Jessulat alongside his other responsibilities since October 1, 2023
• As CFO, Isabelle Damen will also assume responsibility for IT as well as Legal & Compliance

The Supervisory Board of ElringKlinger AG (ISIN DE0007856023 / WKN 785602) has appointed Isabelle Damen to the Group Management Board effective from August 1, 2025. The Dutch-born executive is to take over the role of Chief Financial Officer from CEO Thomas Jessulat, who had initially retained the position of CFO alongside his duties as the newly appointed CEO. In addition to covering matters generally associated with financial management, Isabelle Damen will also be responsible for IT and Legal & Compliance.

Helmut P. Merch, Chairman of the Supervisory Board of ElringKlinger AG, commented as follows on the appointment: “We are delighted to have secured the services of Isabelle Damen, a proven financial expert, on behalf of ElringKlinger. Building on an extensive career record, she has many years of international experience gained from working for global corporations and will team up with the other members of the Management Board in committed pursuit of ElringKlinger's transformation. We would like to thank Thomas Jessulat for initially continuing in his role as CFO alongside his responsibilities as our newly appointed CEO. Following the appointment of Isabelle Damen, the Management Board is complete and well equipped for the future."

Isabelle Damen (51) currently holds the position of CFO at Teijin Aramid B.V., a subsidiary of the Japanese multi-national group Teijin Ltd., where she is responsible for the areas of Finance, Legal, and Continuous Improvement. Before joining Teijin Aramid B.V. in 2020, she held management positions at Sensata Technologies and Thales B.V., among others. Isabelle Damen has a Bachelor's degree from the Amsterdam Business School and an MBA from the ESADE Business School in Barcelona.

About ElringKlinger  

As an independent supplier operating worldwide, the ElringKlinger Group has established itself as a powerful and trusted partner to the automotive industry – acknowledged for its exceptional depth of expertise. Our product portfolio encompasses innovative solutions for passenger cars and commercial vehicles powered by electric motors, hybrid technology, or combustion engines. Alongside the powertrain, other areas of application include the underbody, chassis, braking system, interior, and vehicle body. We were among the frontrunners when it came to positioning ourselves as a specialist in the field of e-mobility – with pioneering battery and fuel cell technology, and associated components and assemblies, such as plastic housings, and punched and formed metal parts.

Customized lightweight components engineered by ElringKlinger can be used throughout the entire vehicle ; they deliver tangible benefits in terms of weight reduction, efficiency, and functional integration, especially in e-mobility applications. We serve the aftermarket in more than 140 countries with an extensive range of spare parts. These efforts are supported by a dedicated workforce of around 9,000 people employed within the ElringKlinger Group. Operating at more than 40 sites worldwide, ElringKlinger has established a global presence and is closely aligned with its customers in all major automotive regions.

02.04.2025 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

• Group revenue at EUR 1,803 billion; organic change of -0.9% at market level
• Adjusted EBIT at EUR 87.6 million, adjusted EBIT margin at 4.9%, further significant improvement in operating free cash flow, net financial liabilities scaled back to long-term low
• Continuity in dividend payment: proposal of EUR 0.15 per share
• Guidance for 2025: organic revenue roughly on a par with the previous year, adjusted EBIT margin of around 5%, operating free cash flow of approx. 1 to 3% of Group revenue
• CEO Thomas Jessulat: “Against the backdrop of difficult market conditions, we managed to bring the 2024 financial year to a successful conclusion. We were fully in line with our guidance, having recorded an adjusted EBIT margin of 4.9% and operating free cash flow of EUR 58 million. In addition, we succeeded in driving forward our transformation with a strategic package of measures."

ElringKlinger AG (ISIN DE0007856023 / WKN 785602) has published its definitive, audited results for the 2024 financial year as part of its 2024 annual report. Amid challenging conditions, the Group recorded Group revenue of EUR 1,803 billion in the financial year just ended (2023: EUR 1,847 billion) and was thus roughly in line with the market with an organic change of -0.9%. In this context, global light vehicle production fell by 1.1% in 2024, based on industry data from S&P Global Mobility. The adjusted EBIT margin amounted to 4.9% (2023: 5.4%), while operating free cash flow totaled EUR 58.4 million. The consolidated result was therefore in line with the annual targets of around 5% or slightly within positive territory. Earnings were adversely affected by the introduction of a strategic package of measures, which resulted in the Group recognizing non-cash impairment losses and restructuring expenses of EUR 238 million.

"Against the backdrop of difficult market conditions, we managed to bring the 2024 financial year to a successful conclusion. We were fully in line with our guidance, having recorded an adjusted EBIT margin of 4.9% and operating free cash flow of EUR 58 million. As a result, we were also able to scale back net financial liabilities to a 13-year low of EUR 246 million. At the same time, we succeeded in driving forward our transformation with a strategic package of measures focused on the goal set out in our SHAPE30 Group strategy: Our aim is to improve the Group's profitability and generate sustainable cash flow so that we can continue to respond to market requirements at all times as we move forward,” said Thomas Jessulat, CEO of ElringKlinger AG. “Our transformation is also reflected in revenue growth in the area of e-mobility. In the financial year just ended, we more than doubled revenue in the E-Mobility business unit to EUR 102 million."

Significant revenue growth in E-Mobility business unit

Within the strongest revenue-generating segment, Original Equipment, which saw a 5.4% decline in revenue against the backdrop of sluggish market momentum, the E-Mobility business unit recorded the most pronounced expansion at EUR 102.5 million (2023: EUR 48.3 million). The business unit more than doubled its revenue compared to the previous year, with a large-scale series production order for cell contacting systems making a significant contribution to growth. The Aftermarket segment, whose successful growth strategy continues to take effect, also recorded a strong year-on-year increase. In the financial year just ended, revenue was up 12.1% at EUR 336.3 million, compared to EUR 300.1 million in 2023. Despite weaker economic momentum, the Engineered Plastics segment proved robust in the reporting year, partly due to its broad industry mix. With revenue totaling EUR 130.0 million (2023: EUR 132.3 million), the segment was roughly on a par with the previous year.

Revenue growth in Germany and in the South America and Rest of the World region

In the region covering Germany, ElringKlinger recorded significant growth of 11.9%, taking the total to EUR 410.1 million (2023: EUR 366.3 million), due in part to the ramp-up of a high-volume order for cell contacting systems and revenue growth in the Aftermarket segment. The Group also recorded revenue growth in the region encompassing South America and the Rest of the World, posting an increase of 6.5% to EUR 103.3 million in 2024 (2023: EUR 97.1 million). Although the region covering the Rest of Europe saw a decline in revenue in the 2024 financial year in line with market developments, the Group slightly outperformed the market here with a change of -3.8%, taking the total to EUR 558.8 million (2023: EUR 580.9 million). The North America and Asia-Pacific regions declined.

Strategic package of measures to hone the Group's profile

In response to the transformation of the industry, the Management Board of the ElringKlinger Group has adopted a package of strategic measures aimed at honing the Group's profile to the largest extent possible. The purpose of these measures is to ensure that the Group is able to react to market requirements at all times as it moves forward. The emphasis is on profitable, forward-looking product groups and business units. In this context, ElringKlinger will no longer be pursuing its systems business for electric drive units in the future. The decision to sell the two plants in Sevelen, Switzerland, and Buford, GA, United States, was reached against the same background, as was the discontinuation of operations at the sites in Fremont, California, and Thale, Saxony-Anhalt, Germany. Overall, the aforementioned package of measures resulted in non-recurring exceptional items amounting to EUR 238 million. While these measures had a significant impact on the Group's earnings performance in 2024, they form the basis for achieving the goal of significantly improving the Group's profitability and cash flow, as set out in the SHAPE30 Group strategy.

Adjusted EBIT margin at target level

Despite the challenging conditions, the Group generated earnings before interest, taxes, depreciation, and amortization (EBITDA) of EUR 144.0 million (2023: EUR 200.3 million). Excluding the non-recurring items, adjusted EBITDA would have amounted to EUR 197.1 million (2023: EUR 213.5 million). Adjusted earnings before interest and taxes (adjusted EBIT) amounted to EUR 87.6 million (2023: EUR 100.1 million), which corresponds to an adjusted EBIT margin of 4.9% (2023: 5.4%). This resulted in a net loss attributable to shareholders of ElringKlinger AG for the period of EUR 137.8 million in 2024 (2023: net income of EUR 39.3 million).

Dividend proposal of EUR 0.15 per share

Due to the strategic package of measures, reported earnings per share were in negative territory at EUR minus 2.18 (2023: EUR 0.62). Excluding these exceptional factors, adjusted earnings per share amounted to EUR 0.70. In the opinion of ElringKlinger's management, this figure illustrates that the Group is well positioned from an operational perspective and, essentially, remains successful. On this basis, the Management Board, in consultation with the Supervisory Board, will propose to the upcoming Annual General Meeting that an unchanged dividend of EUR 0.15 (2023: EUR 0.15) per share be paid out in the interests of dividend continuity. In addition, the Supervisory Board approved the Management Board's proposal to hold the upcoming Annual General Meeting on May 16, 2025, in a virtual format.

Increase in operating free cash flow and low net debt-to-EBITDA ratio

In the 2024 financial year, operating free cash flow increased significantly compared to the previous year and amounted to EUR 58.4 million (2023: EUR 36.7 million). As a result, the Group was able to scale back its net financial liabilities by EUR 77.3 million to a long-term low of EUR 245.9 million (2023: EUR 323.2 million). This provides a solid foundation for the continued transformation of the Group. Accordingly, the net debt-to-EBITDA ratio is low at 1.7. Calculated on the basis of adjusted EBITDA, the figure stands at 1.2.

Guidance for 2025: organic revenue at prior-year level, adjusted EBIT margin of around 5%

Looking ahead to the current financial year, the global automotive industry will again be exposed to conflicting forces driven by geopolitical and trade policy developments as well as macroeconomic uncertainties. At the same time, the market is not evolving at a particularly dynamic pace, especially in Europe and North America.

Against this backdrop, ElringKlinger anticipates that organic revenue in 2025 will be roughly on a par with the previous year. In this context, the baseline is group revenue excluding that attributable to the two divested entities. The Group's medium term projection is for moderate revenue growth, taking into account market forecasts and based on its high-volume series production nominations. Despite a multitude of influencing factors, some of which may be considered detrimental, the Group is once again aiming for an adjusted EBIT margin of around 5%. The prerequisite for this is continued stringent cost management while preparations are made for the ramp-up of further series production nominations. In the medium term, the Group anticipates an adjusted EBIT margin of around 7 to 8%. Operating free cash flow is driven primarily by operating profitability, investments, and the development of net working capital. Based on the projections for these key performance indicators, the Group expects operating free cash flow to correspond to around 1 to 3% of Group revenue in 2025. In the medium term, this metric is expected to improve further; the Management Board is targeting a figure of around 2 to 4%. The target with regard to the net debt-to-EBITDA ratio is around 2 for 2025 and a range of 1.0 to 2.0 in the medium term.
 

Final, audited figures for FY2024 and Q4 2024

*For comparison purposes, excluding the order backlog of the two sold plants (Sevelen and Buford)
**Proposal to the 2025 Annual General Meeting

The 2024 annual report is available online at: https://ar2024.elringklinger.de

EQS-News: ElringKlinger AG / Key word(s): Preliminary Results
ElringKlinger concludes 2024 financial year on a solid footing and specifies further transformation of the Group
27.02.2025 / 13:36 CET/CEST
The issuer is solely responsible for the content of this announcement.

PRESS RELEASE

• Preliminary, unaudited results for 2024:
  • Revenue at EUR 1,803 million (2023: EUR 1,847 million), organic revenue at EUR 1,831 million, adjusted EBIT margin at 4.8% (2023: 5.4%)
  • Strong operating free cash flow of EUR 58.5 million (2023: EUR 36.7 million)
  • Net financial liabilities at a thirteen-year low of EUR 250 million (2023: EUR 323 million)

• Strategic reorientation: focus on profitable business and discontinuation of loss-making activities. Management Board anticipates that this will unlock annual earnings potential of around EUR 10 million as from 2026.
• 2024 financial year severely impacted by non-recurring, non-cash impairment losses of EUR 238 million.
• CEO Thomas Jessulat: “In taking these measures, we are honing ElringKlinger’s profile in an effort to fortify the Group for further transformation amid challenging conditions. Our aim is to enhance the Group's profitability and improve cash flow for the long term."

ElringKlinger AG (ISIN DE0007856023 / WKN 785602) has published its preliminary and unaudited results for the 2024 financial year. On this basis, the Group generated revenue of EUR 1,803 million in 2024 (2023: EUR 1,847 million). Assuming stable exchange rates, revenue amounted to EUR 1,831 million. EBITDA totaled EUR 144 million (2023: EUR 200 million), while adjusted EBIT amounted to EUR 86.2 million (2023: EUR 100 million), which corresponds to an adjusted EBIT margin of 4.8% (2023: 5.4%). The Group thus met its October 2024 guidance of generating organic revenue slightly short of the previous year's level and posting an adjusted EBIT margin of around 5%. The Group had expected operating free cash flow to be just within positive territory but instead managed to exceed the target significantly at EUR 58.5 million (2023: EUR 36.7 million). As a result, it was in a position to scale back net financial liabilities substantially to EUR 250 million (2023: EUR 323 million). Consequently, its net debt-to-EBITDA ratio stood at 1.7 (Dec. 31, 2023: 1.6). After adjusting EBITDA for non-recurring items, primarily relating to the divestment of the two entities in the United States and Switzerland, the net debt-to-EBITDA ratio was 1.3 (Dec. 31, 2023: 1.5).

Commenting on the preliminary results, Thomas Jessulat, CEO of the ElringKlinger Group, said, “In this difficult environment, the Group posted financial results that were solid on the whole. Despite substantial investments in future-facing areas, we achieved strong operating free cash flow and were in a position to scale back net financial liabilities to their lowest level in thirteen years. By reducing debt, we have bolstered ElringKlinger's financing structure and established a solid foundation for the Group's ongoing transformation. Despite this, the underlying conditions are challenging and call for a clear, determined approach."

Strategic reorientation with a focus on profitable business

The Management Board has adopted a strategic package of measures for the purpose of ensuring that ElringKlinger can maintain a resilient position within a challenging economic and political climate, thus driving forward the Group's progressive transformation. A case in point is the discontinuation of the Group's system business for electric drive units. In future, the focus with regard to electric drive units will be on the profitable components business. Therefore, the Management Board has resolved to examine strategic options relating to its investment in hofer AG. In total, impairment losses recognized in respect of new drive technologies amount to EUR 85 million. In addition, the Group is reviewing its other shareholdings and will take further steps if necessary.

Sale of two plants completed

As of December 31, 2024, the Group effected the closing, i.e., the legal completion, of the sale of the two entities in Switzerland and the United States, for which an agreement had been signed in October. This divestment took place against the backdrop of the substantial investments required for the competitive continuation of business, which in turn would have restricted the Group in pursuing its chosen path of transformation. This transaction resulted in charges recognized in profit or loss with a total net effect of EUR 103 million, of which impairment losses of EUR 58 million had already been recognized in the preceding financial statements for the third quarter of 2024.

Reduction in the number of sites

Against the backdrop of the challenges faced by the global automotive industry, ElringKlinger is cutting the number of its sites and plans to discontinue operations not only at its plant in Thale, Germany, but also at its US site in Fremont, CA. Both plants are due to leave the Group in the middle of the year. In total, the Group recognized impairment losses of EUR 50 million relating to assets and restructuring expenses for these and further individual sites.

Annual earnings potential of around EUR 10 million from 2026

In total, non-cash impairment losses of EUR 238 million were recognized as part of the package as of the end of the 2024 reporting period. Based on these strategic measures, the Management Board expects to unlock earnings potential of around EUR 10 million per year from 2026, of which around EUR 7 million should materialize as early as 2025. ElringKlinger plans to publish audited figures and detailed information on its outlook for 2025 as part of its annual report on March 27, 2025.

Asked to comment, CEO Thomas Jessulat said, "By taking these steps in line with our SHAPE30 transformation strategy, we are looking to further hone ElringKlinger's profile. Our aim is to enhance the Group's profitability and improve cash flow for the long term. To this end, we are concentrating our product portfolio and deploying our resources in a targeted manner to achieve growth in our chosen fields of the future. Our substantial backlog of nominations, with the ramp-up of high-volume series production orders, forms the basis for this."

Further ramp-up for e-mobility applications

The continued ramp-up of large-scale production projects is an important cornerstone of ElringKlinger's transformation. Based on a strong portfolio of nominations in the billion euro range, revenue in the OE segment is expected to grow further, particularly for e-mobility applications. The E-Mobility business unit is scheduled to break even in 2027. In the 2024 financial year, revenue generated by this business unit more than doubled to EUR 103 million (2023: EUR 48.3 million). Alongside the current large-scale series production order relating to a global battery manufacturer, a high-volume order for cell contact systems for the BMW Group's New Class is also due to ramp up in the current year.

Preliminary, unaudited figures for FY2024 and Q4 2024

About ElringKlinger  

As an independent supplier operating worldwide, the ElringKlinger Group has established itself as a powerful and trusted partner to the automotive industry – acknowledged for its exceptional depth of expertise. Our product portfolio encompasses innovative solutions for passenger cars and commercial vehicles powered by electric motors, hybrid technology, or combustion engines. Alongside the powertrain, other areas of application include the underbody, chassis, braking system, interior, and vehicle body. We were among the frontrunners when it came to positioning ourselves as a specialist in the field of e-mobility – with pioneering battery and fuel cell technology, and associated components and assemblies, such as plastic housings, and punched and formed metal parts.

Customized lightweight components engineered by ElringKlinger can be used throughout the entire vehicle; they deliver tangible benefits in terms of weight reduction, efficiency, and functional integration, especially in e-mobility applications.

Additionally, we serve the aftermarket in more than 140 countries with an extensive range of spare parts.

These efforts are supported by a dedicated workforce of more than 9,000 people employed within the ElringKlinger Group. Operating at more than 40 sites worldwide, ElringKlinger has established a global presence and is closely aligned with its customers in all major automotive regions.

Legal notice

This release contains forward-looking statements. These statements are based on the expectations, market assessments, and forecasts of the Management Board and the information currently available to it. These forward-looking statements shall, in particular, not be construed as guarantees of future developments and results referred to therein. Although the Management Board is of the firm opinion that the statements made and their underlying beliefs and expectations are realistic, they are based on assumptions that may prove to be incorrect. Future results and developments depend on a variety of factors, risks, and uncertainties that may lead to changes in the expectations and judgments that have been expressed. These factors include, for example, changes in general economic and business conditions, fluctuations in exchange rates and interest rates, lack of acceptance of new products and services, and changes in business strategy.

27.02.2025 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com