Corporate | 26 February 2016 07:39
DGAP-News: ElringKlinger AG / Key word(s): Preliminary Results
2016-02-26 / 07:39
The issuer is solely responsible for the content of this announcement.
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Preliminary results for FY 2015: ElringKlinger increases revenue to over
EUR 1.5 billion
- Revenue improves by 14 % to EUR 1,507 million, organically by 6 %
- Clean EBIT before purchase price allocation totals EUR 140 million
- This includes exceptional charges of EUR 34 million due to capacity
bottlenecks in the Original Equipment segment
- Q4 2015: sales revenue up by 14% to EUR 390 million; clean EBIT before
purchase price allocation at EUR 27 million, which includes EUR 13
million in exceptional charges within the Original Equipment segment
- Outlook for current financial year on March 30, 2016
Dettingen/Erms (Germany), February 26, 2016 +++ The ElringKlinger Group
maintained its consistent trajectory of growth in the financial year just
ended. Based on preliminary figures for 2015, Group sales revenue expanded
by 13.7 % in total to reach EUR 1,507.3 (1,325.8) million. Taking into
account the effects of currency translation and the revenue contribution
from the entity acquired in the US, organic growth amounted to 79.7 million
or 6.0 %. In expanding at this rate, ElringKlinger again by far outpaced
the global automotive market, which grew by around 2%.
The effects of foreign exchange rates were attributable primarily to a weak
euro, particularly against the US dollar, the Chinese yuan, and the Swiss
franc. Overall, the effects of currency translation were equivalent to EUR
69.6 million. Additionally, the US acquiree M&W Manufacturing Co.
contributed revenue totaling EUR 32.2 million. This entity was fully
consolidated effective from February 14, 2015, and integrated into the
Group over the course of the financial year as ElringKlinger Automotive
Manufacturing, Inc.
Clean Group EBIT before purchase price allocation stood at EUR 140.4
million, compared to a prior-year figure of EUR 162.3 million. This
includes exceptional charges of EUR 34 million relating to the Original
Equipment segment. Unexpectedly strong demand in one of this segment's
divisions had led to capacity constraints, necessitating extra shifts and
unscheduled consignments. As a result, the earnings forecast for 2015 had
to be adjusted to a range of between EUR 135 and 145 million as part of the
most recent guidance.
"The company saw revenue exceed the mark of EUR 1.5 billion for the first
time in fiscal 2015. Our organic growth of six percent is exactly within
the corridor of 5 to 7 % per annum targeted by the company," says Dr.
Stefan Wolf, CEO of ElringKlinger AG. With regard to the high level of
capacity utilization within the Original Equipment segment, he commented as
follows: "The measures initiated to address this issue are already having a
visibly positive effect. This illustrates that the unit in question is now
back on the right track."
ElringKlinger will publish its full and final results for the 2015
financial year on March 30, 2016, together with its outlook for 2016.
in EUR million FY 2015 FY 2014
Dif. abs. Dif. rel.
Sales revenue 1,507.3 1,325.8 +181.5 +13.7%
of which currency +69.6 +5.3%
of which acquisitions +32.2 +2.4%
of which organic +79.7 +6.0%
Clean EBIT before 140.4 162.3 -21.9 -13.5%
purchase price
allocation
Clean EBIT margin 9.3% 12.2% -2.9 pp
before purchase
price allocation
Purchase price 5.2 3.4 +1.8
allocation
One-offs - 4.9 -4.9
EBIT 135.2 154.0 -18.8 -12.2%
in EUR million Q4 2015 Q4 2014
Dif. abs. Dif. rel.
Sales revenue 390.0 340.9 +49.1 +14.4%
of which currency +12.7 +3.7%
of which acquisitions +9.1 +2.7%
of which organic +27.3 +8.0%
Clean EBIT before 27.5 34.9 -7.4 -21.2%
purchase price
allocation
Clean EBIT margin 7.1% 10.2% -3.1 pp
before purchase
price allocation
Purchase price 1.3 0.8 +0.5
allocation
One-offs - 4.9 -4.9
EBIT 26.2 29.2 -3.0 -10.3%
For further information, please contact:
ElringKlinger AG
Dr. Jens Winter
Investor Relations/Corporate PR
Max-Eyth-Straße 2
D-72581 Dettingen/Erms
Germany
Fon +49 7123 724-88335
Fax +49 7123 724-85 8335
E-mail jens.winter@elringklinger.com
About ElringKlinger AG
ElringKlinger has focused its efforts on developing forward-looking green
technologies. These are designed not only to reduce CO2 emissions but also
to scale back the level of harmful nitrogen oxides, hydrocarbons and soot
particles. ElringKlinger is one of the few automotive suppliers worldwide
with the capabilities of developing and producing high-tech components for
all types of drive system - whether for downsized combustion engines or for
electric vehicles driven by batteries or fuel cells. Drawing on our
expertise in lightweight engineering, we can make a decisive contribution
to efforts aimed at further reducing vehicle weight and thus fuel
consumption. The company's portfolio centered around emissions reduction
also includes particulate filters and end-to-end exhaust gas purification
systems used in ships, commercial vehicles, construction machinery and
stationary engines as well as in power stations. This is complemented by
products made of the high-performance plastic PTFE supplied by
ElringKlinger Kunststofftechnik, which are marketed to a wide range of
industries - also to those operating beyond the vehicle manufacturing
sector. Applying our abilities as an innovator, we are committed to
sustainable mobility and earnings-driven growth. These efforts are
supported by our dedicated workforce of more than 7,900 people at 45
ElringKlinger Group locations around the globe.
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2016-02-26 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
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Language: English
Company: ElringKlinger AG
Max-Eyth-Straße 2
72581 Dettingen/Erms
Germany
Phone: 071 23 / 724-0
Fax: 071 23 / 724-9006
E-mail: jens.winter@elringklinger.com
Internet: www.elringklinger.de
ISIN: DE0007856023
WKN: 785602
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Hanover, Munich; Terminbörse EUREX
End of News DGAP News Service