25.06.2018
ElringKlinger AG DE0007856023
DGAP-Adhoc: ElringKlinger revises earnings guidance for current financial year
DGAP-Ad-hoc: ElringKlinger AG / Key word(s): Profit Warning
ElringKlinger revises earnings guidance for current financial year
25-Jun-2018 / 15:43 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.
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ElringKlinger revises earnings guidance for current financial year
Dettingen/Erms (Germany), June 25, 2018 +++ ElringKlinger AG conducted a
reassessment of its opportunities and risks for the 2018 financial year as a
whole on the basis of consolidated earnings for the months of April and May
2018 and against the backdrop of persistently high levels of general
uncertainty - both in political and macroeconomic terms but also with regard
to operating activities. This reassessment revealed that raw material
prices, particularly for polyamide, steel, and aluminum, have continued to
surge. This is to be a seen as a significant additional expense factor
within the Group as a whole. Additionally, the consistently high follow-on
costs associated with sustained buoyancy in demand within the NAFTA region
will continue to exert pressure on earnings. These factors may account for
up to two percentage points of ElringKlinger's earnings margin in 2018, as a
result of which the company now expects its earnings margin before interest,
taxes, and purchase price allocation to be around 7% for the 2018 financial
year as a whole. Prior to this adjustment, the Group's guidance in respect
of its earnings margin had been around 9%. The Group's revenue expectations
for 2018, i.e., to exceed growth in global automobile production by 2 to 4
percentage points in organic terms, remain unchanged.
For further information, please contact:
ElringKlinger AG
Dr. Jens Winter
Strategic Communications
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
As an automotive supplier, ElringKlinger has become a trusted partner to its
customers - with a firm commitment to shaping the future of mobility. Be it
optimized combustion engines, high-performance hybrids, or
environmentally-friendly battery and fuel cell technology, ElringKlinger
provides innovative solutions for all types of drive systems.
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 make refinements
with regard to 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 are also marketed to industries
beyond the automotive sector. These efforts are supported by a dedicated
workforce of more than 9,600 employees at 45 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.
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Information and Explanation of the Issuer to this News:
In connection with this announcement, a conference call will be arranged
with CFO Thomas Jessulat on Tuesday, June 26, 2018, at 10:00 hrs (CEST) for
the purpose of elucidating the points presented above.
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25-Jun-2018 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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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: [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, Tradegate Exchange
End of Announcement DGAP News Service
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698477 25-Jun-2018 CET/CEST
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