ElringKlinger

EQS-News: ElringKlinger presents preliminary results for 2023 financial year: Increased profitability, improved cash flow

Retrieved on: 
Wednesday, March 13, 2024

ElringKlinger presents preliminary results for 2023 financial year: Increased profitability, improved cash flow

Key Points: 
  • ElringKlinger presents preliminary results for 2023 financial year: Increased profitability, improved cash flow
    The issuer is solely responsible for the content of this announcement.
  • ElringKlinger presents preliminary results for 2023 financial year: Increased profitability, improved cash flow
    Revenue expands by 2.7% to EUR 1,847 million (2022: EUR 1,798 million), organic revenue growth of 4.6%
    Adjusted EBIT at EUR 100.1 million (2022: EUR 68.4 million), adjusted EBIT margin of 5.4% (2022: 3.8%) at upper end of guidance range
    Operating free cash flow up substantially at EUR 36.7 million (2022: EUR 14.8 million)
    Net financial debt scaled back to EUR 323 million (2022: EUR 364 million), Net debt/EBITDA ratio at 1.6 (2022: 2.1)
    Dettingen/Erms (Germany), March 13, 2024 +++ Based on preliminary, unaudited figures, ElringKlinger AG can look back on a successful 2023 financial year.
  • Compared to the previous year, the Group managed to increase revenue by 2.7% to EUR 1,847.1 million (2022: EUR 1,798.4 million).
  • ElringKlinger reduced its net financial debt by a further EUR 41.0 million or 11.3% to EUR 323.2 million in the 2023 financial year (2022: EUR 364.2 million).

EQS-News: Q3 2023: ElringKlinger announces improved earnings and cash flow metrics

Retrieved on: 
Tuesday, November 7, 2023

In the Asia-Pacific region, ElringKlinger generated revenue of EUR 79.8 million in the period from July to September 2023 (Q3 2022: EUR 101.4 million).

Key Points: 
  • In the Asia-Pacific region, ElringKlinger generated revenue of EUR 79.8 million in the period from July to September 2023 (Q3 2022: EUR 101.4 million).
  • After deducting income tax expenses, ElringKlinger recorded net income for the period of EUR 4.7 million (Q3 2022: EUR 3.9 million).
  • ElringKlinger generated operating free cash flow of EUR 11.7 million in the third quarter of 2023 (Q3 2022: EUR -10.2 million).
  • As a result, cash flow improved significantly compared to the two previous quarters as well as on a year-on-year basis.

Automotive Exhaust Manifold Market size to grow by USD 735.08 million from 2023 to 2028 | Market is fragmented due to the presence of prominent companies like Benteler International AG, BG Products Inc. and BorgWarner Inc., and many more

Retrieved on: 
Friday, November 3, 2023

NEW YORK, Nov. 3, 2023 /PRNewswire/ -- The Automotive Exhaust Manifold Market is estimated to increase by USD 735.08 million, accelerating at a CAGR of 5.4% during the forecast period.

Key Points: 
  • NEW YORK, Nov. 3, 2023 /PRNewswire/ -- The Automotive Exhaust Manifold Market is estimated to increase by USD 735.08 million, accelerating at a CAGR of 5.4% during the forecast period.
  • The automotive exhaust manifold market is fragmented owing to the presence of many global and regional companies.
  • Automotive Exhaust Manifold Market 2024 – 2028: Regional Analysis
    The Asia-Pacific (APAC) region is anticipated to make a substantial 42% contribution to the global market's growth during the forecast period.
  • Hydraulic Manifold Market in UK : The hydraulic manifold market in UK is estimated to grow at a CAGR of 3.49% between 2022 and 2027.

EQS-News: ElringKlinger records solid third quarter 2023 based on preliminary results

Retrieved on: 
Thursday, October 26, 2023

Group revenue for third quarter of 2023 up slightly by 0.7% in organic terms; excluding currency adjustments, revenue amounted to EUR 451.6 million (Q3 2022: EUR 464.1 million)

Key Points: 
  • Group revenue for third quarter of 2023 up slightly by 0.7% in organic terms; excluding currency adjustments, revenue amounted to EUR 451.6 million (Q3 2022: EUR 464.1 million)
    Year-on-year improvement in adjusted EBIT at EUR 22.7 million and adjusted EBIT margin at 5.0% for third quarter 2023 (Q3 2022: EUR 18.5 million and 4.0%)
    Full-year earnings outlook for 2023 confirmed, revenue guidance for 2023 revised on the basis of new internal revenue forecast due to higher S&P market projections
    Dettingen/Erms (Germany), October 25, 2023 +++ ElringKlinger AG has announced its preliminary results for the third quarter of 2023.
  • Adjusted for exchange rate effects, revenue was up slightly by 0.7% or EUR 3.2 million for the period from July to September 2023.
  • Revenue generated in the first nine months totaled EUR 1,408.1 million (9M 2022: EUR 1,329.3 million).
  • The Group will publish its full financial results for the third quarter of 2023 on November 7, 2023.

EQS-News: ElringKlinger appoints Thomas Jessulat as CEO and names Dirk Willers as a new member of the Management Board

Retrieved on: 
Thursday, September 28, 2023

He had most recently held the position of Spokesperson of the Management Board on an interim basis.

Key Points: 
  • He had most recently held the position of Spokesperson of the Management Board on an interim basis.
  • In addition, the former head of the Aftermarket segment, Dirk Willers, was newly appointed to the Management Board.
  • Dirk Willers restructured our Aftermarket business from top to bottom and, in particular, realigned Sales to create a more powerful presence.
  • Before joining ElringKlinger in 2015, the 49-year-old business graduate held senior management positions at Daimler AG for over 12 years.

EQS-News: New EKPO order marks first strategic step into the electrolysis market

Retrieved on: 
Wednesday, August 30, 2023

Dettingen/Erms (Germany), August 30, 2023 +++ EKPO Fuel Cell Technologies GmbH (EKPO) and H-TEC SYSTEMS GmbH have entered into a contractual agreement for the development of stack components for PEM electrolyzers.

Key Points: 
  • Dettingen/Erms (Germany), August 30, 2023 +++ EKPO Fuel Cell Technologies GmbH (EKPO) and H-TEC SYSTEMS GmbH have entered into a contractual agreement for the development of stack components for PEM electrolyzers.
  • EKPO will contribute its expertise in development, large-scale production of stack components, and defect reduction in the context of highly automated operations.
  • The development, which has already started, and the production of the prototypes to be supplied under the agreement will take place in Germany.
  • We look forward to advancing our series production and the quality of our products in cooperation with EKPO."

EQS-News: ElringKlinger with increased profitability in the first half of 2023

Retrieved on: 
Thursday, August 3, 2023

Adjusted for currencies, revenue increased by EUR 46.9 million or 10.9% in the second quarter of 2023.

Key Points: 
  • Adjusted for currencies, revenue increased by EUR 46.9 million or 10.9% in the second quarter of 2023.
  • In the Asia-Pacific region, ElringKlinger generated revenue of EUR 83.9 million in the second quarter of 2023 (Q2 2022: EUR 79.4 million).
  • In the first half of 2023, revenue remained unchanged year on year at EUR 165.3 million (H1 2022: EUR 165.3 million).
  • ElringKlinger received significant orders in the first half of 2023, the details of which were disclosed via official announcements.

EQS-News: ElringKlinger secures series production contract from global Tier 1 supplier for battery housings

Retrieved on: 
Wednesday, July 26, 2023

Dettingen/Erms (Germany), July 26, 2023 +++ ElringKlinger AG has received an order for metal battery housings from a global Tier 1 supplier.

Key Points: 
  • Dettingen/Erms (Germany), July 26, 2023 +++ ElringKlinger AG has received an order for metal battery housings from a global Tier 1 supplier.
  • The battery housings are to be used in commercial vehicle and city bus applications planned for the US market.
  • The series production contract covers a five-year term with a total order volume in the low triple-digit million-euro range.
  • In this context, ElringKlinger will invest in new production facilities at its US site in Buford, GA, in the run-up to the scheduled commencement of production in 2024.

EQS-News: ElringKlinger Annual General Meeting approves dividend payment that is unchanged year on year

Retrieved on: 
Tuesday, May 16, 2023

Dettingen/Erms (Germany), May 16, 2023 +++ At today's 118th Annual General Meeting the shareholders of ElringKlinger AG approved all items on the agenda by a large majority.

Key Points: 
  • Dettingen/Erms (Germany), May 16, 2023 +++ At today's 118th Annual General Meeting the shareholders of ElringKlinger AG approved all items on the agenda by a large majority.
  • In total, 73.2% of the voting share capital was represented at the Annual General Meeting.
  • Based on a large majority of 99.7%, this proposal was approved by the Annual General Meeting.
  • Dr. Wolf's duties will be performed on an interim basis by Thomas Jessulat, Chief Financial Officer of ElringKlinger AG.

EQS-News: ElringKlinger makes successful start to 2023 financial year

Retrieved on: 
Tuesday, May 9, 2023

The Group generated revenue of EUR 487.7 million (Q1 2022: EUR 434.6 million), which represents a year-on-year increase of 12.2%.

Key Points: 
  • The Group generated revenue of EUR 487.7 million (Q1 2022: EUR 434.6 million), which represents a year-on-year increase of 12.2%.
  • Revenue in this region increased by EUR 24.6 million to EUR 159.1 million (Q1 2022: EUR 134.5 million).
  • The ElringKlinger Group's financial position and cash flows remained solid at the end of the first quarter of 2023.
  • As of March 31, 2023, the latter amounted to EUR 291.5 million (Dec. 31, 2022: EUR 264.9 million).