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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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ElringKlinger AG: Preliminary announcement of the publication of quarterly reports and quarterly/interim statements

ElringKlinger AG / Preliminary announcement on the disclosure of financial statements
27.10.2021 / 15:12
Preliminary announcement of the publication of quarterly reports and quarterly/interim statements transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

ElringKlinger AG hereby announces that the following financial reports shall be disclosed:

Report Type: Quarterly financial report within the 2nd half-year (Q3)

Language: German
Date of disclosure: November 04, 2021
Address: https://elringklinger.de/investor/2021-q3-de.pdf

Language: English
Date of disclosure: November 04, 2021
Address: https://elringklinger.de/investor/2021-q3-en.pdf


27.10.2021 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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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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Ad-Hoc-Release

ElringKlinger with strong preliminary results for the third quarter of 2021

ElringKlinger AG / Key word(s): Preliminary Results/Change in Forecast
ElringKlinger with strong preliminary results for the third quarter of 2021

12-Oct-2021 / 16:49 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 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 2021: 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.

For further information, please contact:
ElringKlinger AG
Dr. Jens Winter | Strategic Communications
Max-Eyth-Straße 2 | D-72581 Dettingen/Erms
Fon: +49 7123 72488335 | Fax: +49 7123 72485 8335
E-mail: jens.winter[at]elringklinger.com | www.elringklinger.de

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. 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 around 10,000 people at 44 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.


12-Oct-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



 

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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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