06.05.2015 ElringKlinger AG  DE0007856023

DGAP-News: ElringKlinger with strong organic revenue growth in Q1 2015


 
DGAP-News: ElringKlinger AG / Key word(s): Quarter Results ElringKlinger with strong organic revenue growth in Q1 2015 06.05.2015 / 07:45 --------------------------------------------------------------------- ElringKlinger with strong organic revenue growth in Q1 2015 Dettingen/Erms (Germany), May 6, 2015 +++ The ElringKlinger Group has confirmed its preliminary results for the first quarter of 2015, as announced on April 29, 2015. The automotive supplier saw its revenue grow by 14.6% in the first quarter of 2015, taking the figure to EUR 371.4 (324.0) million. Organically, i.e. excluding the effects of acquisitions and foreign exchange gains, revenue expanded by 5.7%. Thus, the ElringKlinger Group yet again managed to outpace the global vehicle markets when it came to the rate of growth achieved. Earnings before interest and taxes (EBIT), and before purchase price allocations, totaled EUR 36.7 (43.0) million. Net income after non-controlling interests totaled EUR 29.2 (29.3) million. Strong revenue growth sustained in Q1 2015 Outperforming the global vehicle markets yet again in the first three months of 2015, ElringKlinger recorded organic revenue growth of 5.7%. The company benefited from a number of new product rollouts as well as significant structural growth in many of the product groups targeted at CO2 reduction. The first-time consolidation of former M&W Manufacturing Company, Inc., Warren/USA, contributed additional revenue of EUR 4.9 million. ElringKlinger had acquired the specialist for transmission components in February 2015. This entity, now trading as ElringKlinger Automotive Manufacturing, has been included in the scope of consolidation of the ElringKlinger Group since February 14, 2015. The direction taken by the euro, particularly relative to the US dollar, Swiss franc and many of the Asian currencies, boosted revenue by EUR 24.1 million. Total revenue generated by the ElringKlinger Group rose by 14.6% to EUR 371.4 (324.0) million. EBIT before purchase price allocation totals EUR 37 million Earnings before interest, taxes, depreciation and amortization (EBITDA) totaled EUR 56.1 (60.8) million in the first quarter of 2015. Depreciation and amortization rose to EUR 20.7 (18.7) million. Group EBIT stood at EUR 35.4 (42.1) million. Before purchase price allocations (EUR 1.3 million), EBIT amounted to EUR 36.7 (43.0) million, thus falling short of the prior-year figure. The entity formerly known as M&W contributed EUR 0.6 million to Group EBIT. Business in the Original Equipment segment of the ElringKlinger Group was characterized by extremely high capacity utilization during the first quarter of 2015. Individual divisions within this segment recorded a disproportionately large surge in demand. This necessitated the introduction of extra shifts and additional freight movements, thus pushing the cost base up by around EUR 4 million. In addition, EBIT was diluted by around EUR 2.5 million as a result of the sudden appreciation of the Swiss franc against the euro. Additionally, the Group incurred start-up costs in connection with the commencement of serial production - scheduled for the second quarter of 2015 - of pioneering hybrid polymer-metal components. What is more, the comparative base of the Exhaust Gas Purification division (Hug) was very high in the first quarter of the previous financial year, which has to be taken into account in a year-on-year comparison. In the first quarter of 2014, Hug - buoyed by billings relating to two major projects - had contributed earnings before interest and taxes of EUR 7.6 million on the back of revenue of EUR 20.7 million. In the first quarter of 2015, by contrast, Hug generated revenue of EUR 12.2 million. Against this background and due to the strength of the Swiss franc, Hug made no contribution to earnings in the first quarter of 2015. The EBIT margin (before purchase price allocations) thus stood at just under 10% (13.3%). In addition to being impacted by the factors outlined above during the first quarter of 2015, the EBIT margin was diluted by the full consolidation of ElringKlinger Marusan Corporation, Japan, (around 0.3 percentage points) as well as the persistently sluggish performance of the E-Mobility division (around 0.6 percentage points). Foreign exchange gains contribute to net finance income The strong depreciation of the euro against key Group currencies produced foreign exchange gains in connection with financing activities. These net gains amounted to EUR 6.5 (0.1) million. In parallel, net interest costs totaled EUR 3.0 (2.7) million. As a result, the Group recorded net finance income of EUR 3.5 million in the first quarter of 2015, as opposed to net finance cost of EUR 2.6 million a year ago. Net income after non-controlling interests at EUR 28 million Tax expenses fell to EUR 9.7 (10.2) million in the first quarter of 2015. Correspondingly, the tax rate fell slightly to 24.9% (25.8%). Thus, at EUR 29.2 (29.3) million, net income for the ElringKlinger Group remained largely unchanged year on year. Net income attributable to non-controlling interests fell to EUR 1.0 (1.3) million as a result of the lower earnings contribution made by the Hug Group. As a result, net income after non-controlling interests rose to EUR 28.2 (27.9) million. On this basis, basic and diluted earnings per share totaled EUR 0.45 (0.44) in the first quarter of 2015. Encouraging trend in order intake Order intake rose significantly in the first quarter of 2015, up by 25.0% to EUR 414.0 (331.2) million. On an organic basis, i.e. excluding the entity formerly known as M&W, order intake increased by 22.9% to EUR 407.1 million. Order backlog as of March 31, 2015, thus totaled EUR 730.8 (602.6) million. Outlook 2015 ElringKlinger anticipates that global automobile production will expand by around 2% in 2015. Based on this assumption, the Group is targeting organic revenue growth of 5 to 7%. Additionally, the first-time consolidation of ElringKlinger Automotive Manufacturing (M&W) will contribute around EUR 30 million to Group revenue in the financial year as a whole. Against the backdrop of the Group's business performance in the first quarter of 2015, ElringKlinger has already initiated measures aimed at optimizing its earnings situation. The Group expects to achieve improved earnings in the second half of 2015. Adjusted for non-recurring items, EBIT before purchase price allocations is expected to reach around EUR 165 million in 2015 as a whole. The E-Mobility division is unlikely to see a fundamental improvement in its performance. The full report on the first quarter of 2015 can be accessed at http://www.elringklinger.de/investor/2015-Q1-en.pdf __________________________________________________________________________ For further information, please contact: ElringKlinger AG Sabrina Haufler Corporate Communications / Investor Relations Max-Eyth-Straße 2 72581 Dettingen Tel.: +49 (0)7123-724-137 Fax: +49 (0)7123-724-85 137 E-mail: [email protected] --------------------------------------------------------------------- 06.05.2015 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: MDAX Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich End of News DGAP News-Service --------------------------------------------------------------------- 353475 06.05.2015


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