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Press Release

ElringKlinger pools forces within Shielding Technology unit

Dettingen/Erms (Deutschland), 28. Oktober 2021 +++ The automotive industry is undergoing profound changes as part of the process of transformation in the field of mobility. Committed to successfully meeting the challenges of change in the future, too, the Group aims to pool forces within the Shielding Technology unit as part of strategic efforts and optimize its site structure in this area. To this end, the plan is to gradually discontinue production activities at the Langenzenn site and to cover the plant's ongoing projects via other entities operating in this business unit.

The automotive industry is currently undergoing a process of far-reaching transformation. In order to reduce CO2 emissions in the field of mobility and to meet increasingly strict regulatory requirements, car makers are launching more and more hybrid and all-electric vehicles. This trend affects ElringKlinger in the area of near-engine shielding parts and heat shields fitted around the exhaust tract. At the same time, production figures for battery and fuel cell vehicles are expected to be higher in the coming years than estimated in the past. This process of transition has been further accelerated as a result of the coronavirus pandemic, and the overall volume of demand relating to classic drive technologies has dipped to a greater extent than originally expected. This, too, explains the more pronounced levels of competition now seen in the field of shielding technology.

Against this background, forces within the Shielding Technology unit are to be pooled and capacities consolidated. This includes optimizing the site structure of this business unit and implementing continuous improvement measures in order to avoid inefficiencies associated with changing conditions and to utilize capacities more effectively. The Group's goal is to further improve the competitiveness of its Shielding Technology unit and to be in a position in which it can offer its customers high-end solutions tailored to their needs well into the future.

In the context of these comprehensive plans, ElringKlinger intends to gradually discontinue significant parts of its operations at the Langenzenn site. This applies in particular to the various production areas and supporting units. In addition, research and development activities are to be continued in close proximity to this site. Based on current considerations, the measures planned for this site can commence in the third quarter of 2022.

The Langenzenn site currently employs about 200 people, around 20% of whom work in research and development.

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Press Release

“The Coolest German Thing Made in the USA” comes from ElringKlinger

Dettingen/Erms, Germany, Chicago, USA, October 25, 2021 +++ ElringKlinger has won "The Coolest German Thing Made in the USA" award which was established by the German-American Chambers of Commerce (GACCs). The company's cockpit cross car beam was able to succeed against renowned competition. The award ceremony took place as part of the German American Business Awards on October 22 in Chicago, Illinois.

The award highlights the development and manufacturing of unique German products made in the USA. ElringKlinger came out on top against 9 competitors. The company was chosen by a public online voting and convinced with an innovative lightweight component for vehicle bodies, the cockpit cross-car beam. This combines maximum functionality with minimum weight. It accommodates instrument panel, steering column, heating and ventilation modules, airbags, glove box, center console and other fittings and connects them securely to the car bodywork.

Dr. Stefan Wolf, CEO of ElringKlinger AG, said: “The fact that our cockpit cross-car beam is "The Coolest German Thing Made in the USA" makes us proud and shows how innovative this product is. We deliver real added value with it. It's impressive that we were able to beat well-known competitors, which is a testament to our technology and processes.”

Long-standing operations in the US
ElringKlinger became active in the USA in 1994 with the establishment of a sales subsidiary. In 1997, the company set up a production facility for shielding components. Since then, ElringKlinger has continued to grow. The USA is part of ElringKlinger's success story. The company is now represented at 6 locations here - in Fort Wayne, Indiana, Fremont, California, Southfield and Plymouth, Michigan, Buford, Georgia and San Antonio, Texas - Cockpit cross car beams are also produced here. A corresponding plant is currently being built.

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Press Release

ElringKlinger with strong preliminary results for the third quarter of 2021

Dettingen/Erms (Germany), October 12, 2021 +++ Based on its preliminary results, ElringKlinger AG (ISIN DE 0007856023 / WKN 785602) posted strong year-on-year growth in the third quarter of 2021. At EUR 400.6 million, the Group saw revenue expand by EUR 19.5 million or 5.1% compared to the figure recorded in the period from July to September 2020. Earnings before interest and taxes, standing at EUR 27.0 million, were also up significantly on the prior-year level, rising by EUR 8.1 million or 42.9%. This corresponds to an EBIT margin of 6.7%.

The performance outlined above similarly applies to the nine-month period: with revenues of EUR 1,218.2 million, revenue increased by EUR 188.6 million or 18.3% compared to the same period last year (9M 2020: EUR 1,029.6 million). This resulted in EBIT of EUR 98.5 million, after EUR 2.5 million in the first nine months of the previous year. The EBIT margin for the current financial year thus stands at 8.1% (9M 2020: 0.2%).

The Group's operating free cash flow in Q3 2021 also remained in positive territory at EUR 8.1 million (Q3 2020: EUR 78.6 million) despite the adverse conditions seen in some areas of the market, while its operating free cash flow after the first nine months of 2021 amounted to EUR 73.7 million (9M 2020: EUR 102.3 million). As planned, the Group is thus fully on track to achieve operating free cash flow in the positive double-digit million euro range for the financial year as a whole.

On the back of another strong quarterly performance, ElringKlinger is adjusting its guidance for the current year. The general market outlook has deteriorated considerably in recent weeks in view of bottlenecks in the semiconductor industry, strains in the supply of raw materials, and elevated commodity prices. Uncertainty relating to the stability of sales volumes as well as demand for raw materials and their availability continues. Against this backdrop, ElringKlinger is currently forecasting sales revenue that is several percentage points higher than the expected changes in global light vehicle production. The industry service provider IHS had most recently estimated year-on-year growth in global production of 1.6% for 2021. As for earnings before interest and taxes, the Group expects an EBIT margin of around 6%. The Group's projections for its other key performance indicators remain unchanged for the annual period as a whole.

The full results for the third quarter and the first nine months of 2021 will be published as planned on Thursday, 4 November 2021.

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Press Release

ElringKlinger receives SPE Award

Dettingen/Erms, October 11, 2021 +++ ElringKlinger AG has received the SPE Award (Society of Plastics Engineers) from the international Society for Plastics Engineering (SPE Central Europe). The company impressed the jury with its innovative front-end module carrier, which is used in a vehicle produced by US electric car manufacturer Lucid Motors. 

This year, for the 20th time in total, SPE Central Europe awarded prizes for outstanding developments in plastic parts for vehicle construction. In the "Chassis unit/Structural component" category, ElringKlinger impressed the panel of 30 experts chaired by department coordinator Thilo Stier with an innovative front-end module carrier. The awards were presented to the most innovative plastic parts and components in a total of eight categories.

The front-end module support, which is manufactured in a hybrid design, can act as a support for the charge air cooler, the headlamp modules, the spray water tank, the horn, the distance radar module or the air intake. It also supports the hood by connecting hood latches.

Complex manufacturing process
"Receiving the "Oscar for Plastics", the SPE Award, makes us proud and is an excellent example of our exceptional machine, tooling, process and integration expertise. Lightweight construction is the key to the mobility of the future. The technology behind it paves the way for many new applications," says Klaus Bendl, Vice President Lightweight at ElringKlinger. 

ElringKlinger manufactures the front-end module carrier using a single-shot injection molding process. In this process, pre-cut organic sheets are inserted into an injection mold, shaped and combined with several additional inserts, which are overmolded together to form a complex composite hybrid. Within this process, ElringKlinger has succeeded in minimizing the number of pre- and post-processing steps as well as costs, despite a total of 37 inserts. 

"By using glass fiber-reinforced plastic and organic sheets, we reduce the overall weight of the component while maintaining a high level of rigidity. A classic example of "design follows loadcase." The extremely high level of functional integration in the injection molding process thus results in less assembly work and, consequently, lower labor costs," explains Bendl.

The front-end module carrier is used in the first electric vehicle model "Air" from the US car manufacturer Lucid Motors.

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Press Release

ElringKlinger honors its two best suppliers

Dettingen/Erms, September 21, 2021 +++ ElringKlinger AG has honored its two best suppliers of the past year. In the "Raw Materials" category, the Spanish company Unica made a convincing showing. The French-based company Pirped International won the award for best supplier in the "Components" category. The award ceremony took place at the Group's headquarters in Dettingen/Erms.

Unica is a Navarra-based company involved in the development of rubber compounds dating back to 1958. A business relationship with ElringKlinger has existed since 2010, during which time a total of around EUR 14.3 million in sales has been generated and 2,400 tons of material supplied. "Unica was able to impress in 2020 with an incredible rating of 99.5 percent. Orders were processed quickly and always delivered on time. Throughout 2020, there was not a single complaint on our part, as Unica always worked in a solution-oriented and cooperative manner. An exemplary performance," says Bernd Weckenmann, Vice President Purchasing, describing the business relationship.

Pirped International, based in Chatou, France, supplied ElringKlinger with a total of 14.8 million screw bushings in 2020, which are used in cylinder head covers, for example. "Pirped International achieved a very good result and met our requirements by more than 90 percent. The company impressed us above all with its reliable delivery reliability and the very good quality of its products," emphasizes Weckenmann. To achieve an even better result, Pirped International currently lacks the international environmental management standard ISO 14001, which sets out globally recognized requirements for an environmental management system.

ElringKlinger has long honored its best suppliers. The decisive factor for nomination is the assessment of various company departments such as purchasing, scheduling, logistics, quality management and materials planning. In total, the company is supplied by over 1,000 companies. There is also the possibility to be awarded several times as best supplier.

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