Announcements

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.

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.

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.

Dettingen/Erms, Munich (Germany), September 2, 2021 +++ EKPO Fuel Cell Technologies (EKPO), the joint venture between ElringKlinger AG and Plastic Omnium, will present various next-generation fuel cell stack platforms featuring design and performance enhancements at IAA Mobility 2021. The full-service supplier for fuel cell stacks and components used in passenger cars, as well as light commercial vehicles, trucks and buses, is thus underlining its industrialization expertise.

A total of three different stack platforms will be on display for the trade public at the EKPO booth (Hall B3, Booth B21). The NM5-EVO PEM stack module is launched in series production this year and has integrated system functionalities. With an output of up to 76 kWel (at 2,5 bar operating pressure) it is suited for passenger cars and light commercial vehicles. A driving vehicle (LCV) integrating an NM5 EVO will be presented at the show by EKPO and its partners AEDS and Quantron.

The NM12 TWIN PEM stack module, with 598 cells (2x299 cells) based on metallic bipolar plates, is significantly larger. With an electrical output of up to 205 kWel, the plug-in module is primarily aimed at heavy-duty commercial applications: trucks, rail and marine.

"In terms of absolute power and power density, the stacks we will exhibit at IAA Mobility in Munich are absolute market benchmark, setting international standards," says Julien Etienne, CCO of EKPO Fuel Cell Technologies.

Another highlight is installed in the demonstrator vehicle on ElringKlinger’s booth. The 359-cell NM12 SINGLE PEM stack module, based on metallic bipolar plates with an electrical output of up to 123 kWel will address applications with high power requirements (>100kW) in the automotive sectors. Boasting a power density above 6kW/L, this platform addresses the packaging challenges of full power passenger cars and light commercial vehicles.

"We trust our fuel cell products answer best the current market needs. This and the fact we are already able to produce high volumes of stack assemblies and components – such as bipolar plates or media module assemblies – allowed us to secure major orders since the beginning of the year. We are looking forward to IAA Mobility 2021 as the first real world opportunity to showcase EKPO’s first class technology and to have fruitful exchanges with our visitors," says Julien Etienne.

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EKPO at IAA Mobility 2021
Hall B3, Booth B21

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