ElringKlinger AG

ZIL2

Equity

ISIN DE0007856023 / Valor 1358142

Xetra (2024-09-18)

EUR 4.39+1.85%

ElringKlinger AG
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About company

ElringKlinger AG is a global system partner to the automotive industry, specializing in e-mobility, lightweight solutions, sealing and shielding technology, and tooling. The company, in partnership with hofer powertrain, develops and produces highly efficient electric drive units (EDUs) under the hofer powertrain products brand. ElringKlinger's core competences include tool technology, showcased at the Toolmaking Technology Center at their Lenningen site. Additionally, the company offers complete lithium-ion battery storage systems and modules for sustainable electric vehicles, as well as various individual components. With a commitment to shaping the future of mobility, ElringKlinger is a strong and reliable partner in providing innovative product solutions for all types of drives, contributing to sustainable mobility in both passenger cars and commercial vehicles. In the fiscal year 2023, the company reported an increase in revenue and adjusted earnings before interest and taxes, demonstrating its financial strength and growth in the industry.

Summarized from source with an LLMView SourceSector: Consumer Cyclicals

Revenue Growth

ElringKlinger AG reported a significant increase in revenue for the second quarter of 2023, reaching EUR 468.7 million, which represents an 8.8% rise compared to the same period in the previous year. For the first half of 2023, the revenue grew by 10.5% to EUR 956.4 million. This growth was driven by strong performance in the Rest of Europe and North America regions, as well as in the Lightweighting and Aftermarket segments.

Adjusted EBIT

In the second quarter of 2023, ElringKlinger AG's adjusted EBIT improved significantly to EUR 24.8 million, with an adjusted EBIT margin of 5.3%. For the first half of the year, the adjusted EBIT was EUR 51.2 million, resulting in an adjusted EBIT margin of 5.4%. This improvement was supported by less pronounced downside factors and effective measures to cushion procurement burdens.

Order Backlog

ElringKlinger AG's order backlog normalized to EUR 1,354.1 million by the end of the second quarter of 2023. This adjustment followed a period of high backlog levels driven by pent-up demand. The decline in orders placed by customers in the second quarter reflects a projected sideways trend in the vehicle market.

Financial Position

ElringKlinger AG maintained a solid financial position with an equity ratio of around 43% at the end of the reporting period. Net financial liabilities stood at EUR 380.1 million as of June 30, 2023, which is below the previous year's level despite the company's expansive business activities. The debt ratio improved to 1.9, and operating free cash flow was EUR 3.7 million in the second quarter.

Dividend and Leadership Changes

During the first half of 2023, ElringKlinger AG's Annual General Meeting resolved to maintain an unchanged dividend payment of EUR 0.15 per share. Additionally, the tenure of CEO Dr. Stefan Wolf ended on June 30, 2023, with CFO Thomas Jessulat taking over duties on an interim basis. The company also secured major orders in the E-Mobility business unit, focusing on battery and fuel cell technology for global vehicle manufacturers.

Summarized from source with an LLMView Source

Key figures

-24.1%1Y

-64.7%3Y

-29.2%5Y

Performance

38.6%1Y

45.0%3Y

51.9%5Y

Volatility