Group revenue at EUR 445.0 million in second quarter of 2024 amid persistently challenging market conditions (Q2 2023: EUR 468.7 million); headwind also from movements in exchange rates
Adjusted EBIT margin of 5.0 % (Q2 2023: 5.3 %); adjusted EBIT of EUR 22.5 million (Q2 2023: EUR 24.8 million), operating free cash flow of EUR -4.5 million (Q2 2023: EUR 3.7 million)
ElringKlinger AG (ISIN DE0007856023 / WKN 785602) has published its results for the first quarter of 2024. The Group generated revenue of EUR 465.3 million in the period just ended (Q1 2023: EUR 487.7 million). Exchange rates caused a headwind of 0.8%, as a result of which the decline in revenue in organic terms, i.e., assuming stable exchange rates, amounted to 3.8%. In the same period, global automotive production shrank by 0.8%, while Europe recorded a downturn of 2.5%.
ElringKlinger AG today published its results for the 2023 financial year. In the financial year just ended, the Group managed to increase revenue by 2.7% to EUR 1,847.1 million (2022: EUR 1,798.4 million). In organic terms, revenue growth amounted to as much as 4.6%.
Group revenue in the third quarter of 2023 at EUR 451.6 million (Q3 2022: EUR 464.1 million); headwind from exchange rate movements; slight organic revenue growth of 0.7 % year on year
Adjusted EBIT at EUR 22.7 million; adjusted EBIT margin at 5.0 % (Q3 2022: EUR 18.5 million and 4.0 %)
ElringKlinger AG has announced its preliminary results for the third quarter of 2023. The Group achieved revenue of EUR 451.6 million in this period (Q3 2022: EUR 464.1 million). Revenue was adversely impacted by currency effects. Adjusted for exchange rate effects, revenue was up slightly by 0.7% or EUR 3.2 million for the period from July to September 2023. Revenue generated in the first nine months totaled EUR 1,408.1 million (9M 2022: EUR 1,329.3 million). This corresponds to growth of 5.9%. Based on the assumption of stable exchange rates, revenue expanded by 7.7%.
Based on preliminary and unaudited figures, ElringKlinger AG put in a successful performance in the 2022 financial year and fully met its annual guidance targets published in August. Compared to the previous year, the Group managed to drive revenue forward by 10.7% to EUR 1,798.4 million (2021: EUR 1,624.4 million). Adjusted for currency effects, growth stood at 7.4%, thus slightly outpacing the market as expected. According to industry service provider S&P Global Mobility (Feb. 2023), global automotive production grew by 6.7% in 2022.
Based on preliminary figures, ElringKlinger AG (ISIN DE0007856023 / WKN 785602) generated consolidated revenue of EUR 434.6 million (Q1 2021: EUR 424.1 million) and consolidated earnings before interest and taxes (EBIT) of EUR 14.1 million (Q1 2021: EUR 48.4 million) in the first quarter of 2022. This corresponds to an EBIT margin of 3.3% (Q1 2021: 11.4%). In order to counteract the effects of bottlenecks seen within global supply chains, inventory management was temporarily adjusted. As a result, operating free cash flow stood at EUR -19.8 million (Q1 2021: EUR 28.6 million).
