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euro adhoc: ElringKlinger AG / Financial Figures/Balance Sheet / ElringKlinger increases revenue and earnings in first quarter of 2007

Geschrieben am 10-05-2007


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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
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3-month report

10.05.2007

> Operating result up by 13%
> EBIT growth of 19%
> Consolidated net income after minority interests grows by 21%
> Order backlog up 12% on previous year

Dettingen/Erms (Germany), May 10, 2007 +++ The ElringKlinger Group
succeeded in further improving both its revenue and earnings
performance in the first quarter of 2007. Group sales revenues rose
by 12.5% to EUR 153.0 (136.0) million. The automotive supplier
recorded significant growth in North America, Asia and Eastern
Europe. ElringKlinger benefited from the increasing share of diesel
vehicles within the car market, together with new production ramp-ups
as well as growing demand for specialty gaskets and shielding parts
used in the exhaust tract.

Within the Original Equipment segment, sales revenues rose by 11.5%
to EUR 106.8 (95.8) million in the first three months of 2007. Growth
was particularly strong in the areas of shielding technology and
specialty gaskets for the exhaust tract. Buoyed by more dynamic
demand for spare parts in many markets - particularly in Eastern
Europe and the Middle East - sales revenues within the After Market
segment rose by 16.9% to EUR 25.9 (22.2) million. Within the area of
Engineered Plastics, the main focus of which is on products made of
high-performance PTFE, the ElringKlinger Group achieved revenue
growth of 12.7%, taking the figure to EUR 17.2 (15.3) million.

Persistently high energy prices and another surge in raw material
prices for high-grade steel in the first quarter had an adverse
effect. The gross margin stood at 33.8%, after 34.9% at the end of
the same period a year ago. Cost of sales amounted to EUR 101.3
(88.5) million, which represents a 14.5% increase on the first
quarter of 2006. Selling as well as general and administrative
expenses climbed at a slower rate than revenue. Research and
development expenses amounted to EUR 7.6 million in the first three
months of 2007, after EUR 7.1 million in the same period a year ago.
In 2007, ElringKlinger will spend approximately EUR 3 million on
start-up activities within its New Business Areas division, which is
currently developing fuel cell components, as well as working on a
new diesel particulate filter concept.

Due to the efficiency gains achieved within the Group, as well as
higher capacity utilization and a favorable product mix for the
quarter, EBITDA rose by 12.1% to EUR 37.4 (33.4) million in the first
quarter of 2007. Depreciation and amortization expense was slightly
lower.

The operating result increased by 12.7% to EUR 27.5 (24.4) million.
EBIT, including EUR 0.5 million in negative exchange rate effects,
increased by 18.9% to EUR 27.0 (22.7) million.

The financial result improved from minus EUR 2.7 million to minus 1.7
million. Consequently, earnings before taxes grew by 18.9% to EUR
25.8 (21.7) million, thus outpacing growth in operating profit.

The tax rate fell slightly to 35.3% (35.9%). Thus, consolidated net
income rose by 20.1% to EUR 16.7 (13.9) million, while consolidated
net income after minority interests increased by 20.6% to EUR 15.4
(12.7) million. Earnings per share amounted to EUR 0.80 (0.66).

At EUR 14.1 (7.0) million, the Group invested significantly more over
the course of the first three months of 2007 than during the same
period a year ago. The main focus was on preparations for product
ramp-ups and the expansion of manufacturing capacity, in addition to
projects aimed at operational streamlining. Within this context,
ElringKlinger channeled a larger proportion of investments into its
international subsidiaries and the high-growth Engineered Plastics
segment, which focuses mainly on the development and processing of
high-performance PTFE. As in the past, investments were covered fully
by net cash from operating activities, which grew from EUR 16.2
million to EUR 17.3 million.

Order intake and backlog remained solid in the period under review.
Order intake rose by 6.6% to EUR 154.1 (144.5) million. Order backlog
increased by 12.4%, reaching a record high of EUR 209.3 (186.2)
million. After the first quarter, ElringKlinger is well on track to
reach the targets it has set itself for 2007. The company plans to
generate revenue growth of 5 to 7% in the 2007 financial year.
Consolidated net income after minority interests is expected to come
in approximately 10% higher than the adjusted net income after
minority interests in 2006 (adjusted for the one-off corporation tax
effect that contributed EUR 5.3 million in 2006). Growth planned
within these areas will be determined principally by new serial
production ramp-ups and the start of production for newly developed
parts and components.


end of announcement euro adhoc 10.05.2007 07:27:50
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ots Originaltext: ElringKlinger AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Stephan Haas
Investor Relations Manager
Telefon: +49(0)7123 724-137
E-Mail: stephan.haas@elringklinger.de

Branche: Automotive Equipment
ISIN: DE0007856023
WKN: 785602
Index: SDAX, CDAX, Classic All Share, Prime All Share
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
Börse Berlin-Bremen / free trade
Börse Düsseldorf / free trade
Bayerische Börse / free trade
Baden-Württembergische Wertpapierbörse / official dealing


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