09.11.2015 ElringKlinger AG  DE0007856023

DGAP-News: ElringKlinger maintains dynamic revenue growth in third quarter 2015


 
DGAP-News: ElringKlinger AG / Key word(s): Quarter Results ElringKlinger maintains dynamic revenue growth in third quarter 2015 09.11.2015 / 07:25 --------------------------------------------------------------------- ElringKlinger maintains dynamic revenue growth in third quarter 2015 - Revenue up by 11.8% (organically by 5.8%) to EUR 366.1 million - Adjusted EBIT before purchase price allocations (EUR 1.3 million) at EUR 36.7 million - Guidance for 2015 confirmed: organic revenue growth of 5 to 7% plus acquisitions; adjusted EBIT of between EUR 135 and 145 million before purchase price allocations Dettingen/Erms (Germany), November 9, 2015 +++ The MDAX-listed ElringKlinger Group saw revenue increase by 11.8% to EUR 366.1 (prev. year: EUR 327.4) million in the third quarter of 2015. Demand for ElringKlinger components was fueled by buoyant growth in the North American market and by a sustained upturn in Europe's economy. In parallel, the Group benefited from several new product rollouts as well as significant structural growth in many of the product groups targeted at CO2 reduction. Revenue growth was also attributable in part to the first-time inclusion of the US-based entity formally known as M&W (now ElringKlinger Automotive Manufacturing), which had been acquired by ElringKlinger in February 2015. It contributed EUR 9.4 million to Group revenue in the third quarter. Additionally, the positive effects of a weak euro - particularly in relation to the Swiss franc, the US dollar and some of the Asian currencies - boosted Group revenue by EUR 10.4 million. Excluding the effects of acquisitions and exchange rates, organic growth stood at 5.8% in the third quarter of 2015, thus again outstripping the rate of expansion achieved by the international vehicle markets. In the first nine months of 2015, Group revenue grew by 13.4% to EUR 1,117.2 (985.0) million. The entity formally known as M&W accounted for EUR 23.1 million of this total, while forex effects swelled the figure by EUR 56.9 million. On an organic basis, revenue growth during this period stood at 5.3%. Adjusted EBIT margin of 10% before purchase price allocation Adjusted earnings before interest and taxes (EBIT) amounted to EUR 36.7 (42.1) million in the third quarter of 2015, before purchase price allocations. This corresponds to an EBIT margin, before purchase price allocation, of 10.0% (12.9%). In the first nine months of 2015, adjusted EBIT amounted to EUR 112.9 (127.4) million before purchase price allocation. As anticipated on the basis of developments in the first half of the financial year, business in the Original Equipment segment continued to be driven by very high levels of capacity utilization. Individual divisions within this segment recorded a disproportionately large surge in demand. The thus resulting additional costs, e.g. for extra shifts and additional freight movements, had an adverse effect on the Group's cost base and swelled it by around EUR 12 million in the third quarter. ElringKlinger has already initiated measures aimed at optimizing its earnings situation and is anticipating an improvement in performance as from 2016. In the first nine months of 2015, additional costs totaled around EUR 21 million. Additionally, the EBIT margin in the third quarter of 2015 continued to be diluted - by around 0.4 percentage points respectively - by the most recent corporate acquisitions as well as the persistently weak performance of the E-Mobility business. Foreign exchange losses impact on net finance costs in third quarter Foreign exchange gains, which are accounted for in the net finance result, fell sharply in the third quarter of 2015 compared to the same period a year ago. At the same time, the Group recorded higher foreign exchange losses. Thus, the net result of foreign exchange gains and losses fell to EUR -2.4 (6.8) million in the third quarter, while net interest costs remained largely unchanged year on year at EUR 3.2 (3.1) million. In total, therefore, the net finance result fell by EUR 9.3 million to EUR -5.6 (3.7) million. In the first nine months, net finance costs amounted to EUR 8.6 (1.0) million. Earnings before taxes stood at EUR 29.8 (44.9) million in the third quarter of 2015 and at EUR 100.5 (123.8) million in the first nine months. Net income after non-controlling interests at EUR 20 million - Earnings per share at EUR 0.32 As a result of lower pre-tax profit, tax expenses fell to EUR 9.1 (11.1) million in the third quarter and to EUR 28.5 (31.0) million in the first nine months of 2015. Due to the reduction in earnings contributions from subsidiaries in countries with a lower tax rate, the Group tax rate rose to 30.5% (24.7 %) in the third quarter. The tax rate stood at 28.4% (25.0%) in the first nine months of 2015. Net income amounted to EUR 20.7 (33.8) million in the third quarter and EUR 71.9 (92.8) million in the first nine months of 2015. After non-controlling interests, net income was EUR 20.0 (32.4) million in the third quarter. In the period from January to September 2015 net income after non-controlling interests totaled EUR 69.2 (88.8) million. On this basis, earnings per share for the third quarter of 2015 stood at EUR 0.32 (0.51). In the first nine months of 2015, earnings per share stood at EUR 1.09 (1.40). Weaker order intake due to forex effects In the third quarter of 2015, order intake stood at EUR 336.6 (330.3) million, i.e. 1.9% up on the figure recorded in the same quarter a year ago. However, it should be noted that the negative effects of foreign exchange rates exerted downward pressure on order intake due to the slight appreciation of the euro as of September 30, 2015. In the first half of 2015, by contrast, order intake had been buoyed by foreign exchange rates. Organically, i.e. without the effects of foreign exchange rates and acquisitions (M&W), order intake would have expanded at a much more pronounced rate of 5.8% in the third quarter of 2015. As of September 30, 2015, the Group's order backlog was EUR 756.7 (651.9) million. Outlook 2015: adjusted EBIT before purchase price allocation expected to be between EUR 135 and 145 million ElringKlinger has confirmed its forecast for the current financial year, as adjusted in September 2015. The company anticipates that global automobile production in 2015 will expand by a percentage figure at the lower end of the single-digit range. The European markets as a whole are expected to develop better than originally anticipated, whereas the Chinese market is likely to slacken slightly. Against this backdrop, ElringKlinger is targeting organic revenue growth of 5 to 7% for fiscal 2015 as a whole. Additionally, the consolidation of former M&W will contribute around EUR 30 million to Group revenue. ElringKlinger is expected to incur additional exceptional charges of EUR 8 to 18 million in the fourth quarter of 2015 due to the high levels of capacity utilization in specific divisions. Against this backdrop, EBIT adjusted for non-recurring items and before purchase price allocation is expected to be within a corridor of EUR 135 to 145 million in the 2015 financial year. ElringKlinger anticipates that earnings performance will improve in 2016. Exceptional charges are also likely to be incurred in the coming financial year, but to a much lesser extent than in 2015. The special charges outlined above, earnings contributions from acquired entities that are as yet below the Group average and sluggish demand in the E-Mobility division will have a dampening effect on the Group's EBIT margin. Key Financials for Q3 and the First Nine Months of 2015 in EUR m Q3 2015 Q3 2014 Change 9 months 9 months Change 2015 2014 Order intake 336.6 330.3 1.9% 1,185.7 1,041.5 13.8% Order backlog 756.7 651.9 16.1% - - - (as of Sept. 30, 2015) Sales revenue 366.1 327.4 11.8% 1,117.2 985.0 13.4% Gross profit 91.5 91.4 0.1% 284.1 274.4 3.5% Operating result/ 35.4 41.2 -14.1% 109.0 124.8 -12.7% EBIT Adjusted EBIT 36.7 42.1 -12.8% 112.9 127.4 -11.4% before purchase price allocations Earnings before 29.8 44.9 -33.6% 100.5 123.8 -18.8% tax Net income 20.7 33.8 -38.8 % 71.9 92.8 -22.5% Net income attri- 20.0 32.4 -38.3% 69.2 88.8 -22.1% butable to share- holders of ElringKlinger AG Earnings per share 0.32 0.51 -37.3% 1.09 1.40 -22.1% (in EUR) The full report on the third quarter and first nine months of 2015 can be accessed at www.elringklinger.de/investor/2015-Q3-en.pdf An explanatory conference call is scheduled to take place today, November 9, 2015 (at 10 a.m. CET), in connection with the publication of the Group's results for the third quarter and the first nine months 2015. It can be accessed at www.elringklinger.de. __________________________________________________________________________ For further information, please contact: ElringKlinger AG Sabrina Haufler Corporate Communications/Investor Relations Max-Eyth-Straße 2 72581 Dettingen Germany Phone: +49 7123 724-137 Fax: +49 7123 724-85137 Email: [email protected] --------------------------------------------------------------------- 09.11.2015 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 --------------------------------------------------------------------- 410179 09.11.2015


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

  Geschäftsbericht 2023 - Kostenfrei herunterladen.  
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%
    
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu ElringKlinger AG  ISIN: DE0007856023 können Sie bei EQS abrufen


Automobilzulieferer , 785602 , ZIL2 , XETR:ZIL2