04.05.2016 ElringKlinger AG  DE0007856023

DGAP-News: ElringKlinger remains on growth trajectory in first quarter of 2016


 
DGAP-News: ElringKlinger AG / Key word(s): Quarter Results ElringKlinger remains on growth trajectory in first quarter of 2016 04.05.2016 / 07:38 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- ElringKlinger remains on growth trajectory in first quarter of 2016 - Revenue up 3.7% to EUR 385 million; organic revenue growth of 5.5% - Adjusted EBIT before purchase price allocation totals EUR 32.0 million - This figure includes trailing costs of EUR 7 million in the Original Equipment segment as well as provisions of EUR 2.6 million for a Management Board member who left the company - Guidance for current financial year confirmed Dettingen/Erms (Germany), May 4, 2016 +++ The ElringKlinger Group made a solid start to the new financial year. Group revenue increased by 3.7% or EUR 13.8 million in total in the first quarter of 2016, taking the figure to EUR 385.2 (371.4) million, despite the fact that currency translation had a dilutive effect of EUR 11.7 million or 3.2% on the figures for the reporting period. This was mainly attributable to the Mexican peso, Brazilian real, and Swiss franc. As another influencing factor, ElringKlinger Automotive Manufacturing, Inc. (formerly: M&W), an entity acquired in 2015, was fully consolidated for the first time in mid-Q1 2015. Therefore, its revenue in the first approximately six weeks of 2016, amounting to EUR 4.9 million, represents acquisition-induced growth. Taking into account the aforementioned factors relating to foreign exchange rates and the corporate acquisition, revenue showed organic growth of EUR 20.6 million or 5.5%. At EUR 32.0 million, adjusted Group EBIT before purchase price allocation was down EUR 4.7 million on the prior-year quarter. This was due partly to exceptional charges within the Original Equipment segment. At EUR 7 million, they were higher than in the same quarter a year ago (EUR 4 million). However, the Group had been expecting a figure of up to EUR 10 million in the first quarter of 2016. Additionally, the resignation of Management Board member Karl Schmauder on February 23, 2016, produced an expense item in the form of a provision of EUR 2.6 million; this covers compensation outstanding up to the end of the contract in January 2018. The Group had net finance costs of EUR 6.3 million in the first quarter of 2016, a negative swing of EUR 9.8 million. This year-on-year change was also due to FX effects. In total, earnings per share were down EUR 0.18 to EUR 0.27. The Group's other key performance indicators also developed in line with expectations. Operating free cash flow improved by EUR 11.8 million. At EUR 0.6 (-11.2) million, it was just within positive territory. At EUR 37.5 (35.2) million, investments in property, plant, and equipment were slightly higher than in the previous year. Net working capital was comparable to the prior-year figure at EUR 529.1 million, a year-on-year change of EUR 6.3 million or 1.2%. The Group's situation in terms of orders received was also encouraging. Despite the adverse effects of foreign exchange rates equivalent to EUR 28.1 million, incoming orders were up EUR 10.0 million or 2.4% on the figure for the same period a year ago. As a result, order intake amounted to EUR 424.0 million. "We remain well on track and are implementing our agenda step by step with a view to returning the Group to greater profitability," says Dr. Stefan Wolf, CEO of ElringKlinger AG. "We took a determined approach to addressing the issue of capacity and logistical constraints. In pressing ahead with improvements at the site in question and establishing a new production facility in Hungary, we took the opportunity to energize the entire division and put it on a firm footing for a bright future." ElringKlinger continues to anticipate moderate growth of around 2% within the global automobile market in the current financial year. Against this backdrop, the Group has confirmed its guidance of organic revenue growth of between 5% and 7% in 2016, while adjusted EBIT before purchase price allocation is expected to lie between EUR 160 and 170 million. EUR million Q1 2016 Q1 2015 Dif. abs. Dif. rel. Order intake 424.0 414.0 + 10.0 + 2.4% Order backlog 835.0 730.8 + 104.2 + 14.3% Revenue 385.2 371.4 + 13.8 + 3.7% of which FX effects - 11.7 - 3.2% of which acquisitions + 4.9 + 1.3% of which organic + 20.6 + 5.5% Adjusted EBIT before 32.0 36.7 - 4.7 - 12.8% purchase price allocation Adjusted EBIT margin before 8.3 9.9 - 1.6 PP - purchase price allocation (in %) Purchase price allocation 1.2 1.3 - 0.1 - 7.7% EBIT 30.8 35.4 - 4.6 - 13.0% Net finance cost/income - 6.3 3.5 - 9.8 > - 100% EBT 24.4 38.9 - 14.5 - 37.3% Taxes on income - 6.5 - 9.7 - 3.2 - 33.0% Effective tax rate (in %) 26.6 24.9 - 1.7 PP - Net income (after non- 17.2 28.2 - 11.0 - 39.0% controlling interests) Earnings per share (in EUR) 0.27 0.45 - 0.18 - 40.0 % Investments (in property, 37.5 35.2 + 2.3 + 6.5% plant, and equipment) Operating free cash flow 0.6 - 11.2 + 11.8 > + 100% Net working capital 529.1 522.8 + 6.3 + 1.2% Equity ratio (in %) 47.8 48.9 - 1.1 PP - Net financial liabilities 481.9 396.2 + 85.7 + 21.6% Employees (as of March 31) 8,126 7,492 + 634 + 8.5% The full quarterly report can be accessed from the ElringKlinger website at http://www.elringklinger.de/investor/2016-Q1-en.pdf For further information, please contact: ElringKlinger AG Dr. Jens Winter Investor Relations / Corporate PR Max-Eyth-Straße 2 72581 Dettingen/Erms Germany Phone +49 7123 724-88335 Fax +49 7123 724-85 8335 E-mail [email protected] 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 8,000 people at 45 ElringKlinger Group locations around the globe. --------------------------------------------------------------------------- 04.05.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- 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: [email protected] Internet: www.elringklinger.de ISIN: DE0007856023 WKN: 785602 Indices: SDAX 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 --------------------------------------------------------------------------- 460615 04.05.2016


Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 1.664,04 1.699,00 1.727,03 1.480,44 1.624,39 1.798,43 1.847,10
EBITDA1,2 238,39 196,65 180,91 181,46 216,10 174,30 200,30
EBITDA-Marge3 14,33 11,57 10,48 12,26 13,30 9,69
EBIT1,4 137,32 96,18 61,23 27,74 102,03 -42,23 82,90
EBIT-Marge5 8,25 5,66 3,55 1,87 6,28 -2,35 4,49
Jahresüberschuss1 73,78 47,90 5,01 -39,98 54,56 -90,71 36,00
Netto-Marge6 4,43 2,82 0,29 -2,70 3,36 -5,04 1,95
Cashflow1,7 95,48 91,55 277,58 217,79 156,11 101,28 0,00
Ergebnis je Aktie8 1,10 0,69 0,06 -0,64 0,88 -1,41 0,37
Dividende8 0,50 0,00 0,00 0,00 0,15 0,15 0,50
Quelle: boersengefluester.de und Firmenangaben

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1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Ernst & Young

INVESTOR-INFORMATIONEN
©boersengefluester.de
ElringKlinger
WKN Kurs in € Einschätzung Börsenwert in Mio. €
785602 6,070 Halten 384,60
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
10,65 13,68 0,77 11,10
KBV KCV KUV EV/EBITDA
0,48 3,80 0,21 4,32
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
0,15 0,15 2,47 16.05.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
07.05.2024 07.08.2024 12.11.2024 27.03.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
15,49% 1,98% 9,96% -29,70%
    
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Automobilzulieferer , 785602 , ZIL2 , XETR:ZIL2