euro adhoc: ElringKlinger AG / Financial Figures/Balance Sheet / ElringKlinger increases sales and earnings in first quarter of 2008

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quaterly report

08.05.2008

> EBIT growth of 8%
> Net income after minority interest rises by 23%
> Order backlog up 18% year on year

Dettingen/Erms, May 8, 2008 +++ The ElringKlinger Group recorded
growth in both sales and earnings in the first quarter of 2008. Group
sales rose by 6.4% to EUR 162.8 (153.0) million. The automotive
supplier achieved solid gains in Europe, South America and Asia. In
particular, ElringKlinger benefited from new product ramp-ups as well
as growing demand for specialty gaskets and shielding components used
in the exhaust tract.

Although ElringKlinger's key automobile markets in Europe and North
America remained stagnant or contracted sharply in the reporting
period and the early placement of the Easter holidays in the first
quarter meant a reduction in available working time by two to three
days, the Group managed to lift sales revenue in its Original
Equipment segment by 7.5% to EUR 114.8 (106.8) million. In North
America, strike action at another automotive supply company based in
the US resulted in a shortfall in production at one of
ElringKlinger's major customers and thus to a fall in delivery
call-offs. In the Aftermarket segment, ElringKlinger was able to make
slight gains in the first quarter of 2008. The prevailing weakness of
the US dollar had an adverse effect on key markets such as the Middle
East and South East Asia, where customers were faced with higher
prices. Overall, the Aftermarket segment generated EUR 26.2 (25.9)
million in sales in the first three months of 2008. The Engineered
Plastics segment, which is currently making preparations for the
start of large-scale production of a new injection-moldable
high-performance PTFE by the name of Moldflon®, succeeded in
increasing sales by 7.2% to EUR 18.4 (17.2) million.

Elevated energy costs and the continuing rise in the price of
materials burdened profitability as did pre-expenses at ElringKlinger
Kunststofftechnik GmbH. The cost of sales rose by 7.6%, and the gross
profit margin came in at 33.0%, down from 33.8% a year ago. Within
this context, it should be noted that provisions recognized in
connection with ElringKlinger's employee profit-sharing program rose
by EUR 0.8 million year on year. Additionally, the Group recorded
one-off costs of EUR 0.3 million relating to the full takeover of its
Spanish subsidiaries. Selling as well as general and administrative
expenses climbed at a slower rate than sales. Research and
development expenses amounted to EUR 7.9 million, after EUR 7.6
million in the first quarter of 2007. The main focus was on new
sealing concepts and, within the New Business Areas division, on
efforts to implement the recently developed diesel particulate filter
concept at an industrial level. In addition, the Group continued its
development work on fuel cell components.

Supported by improvements in efficiency levels and a higher degree of
capacity utilization, the Group managed to lift earnings before
interest, taxes, depreciation and amortization (EBITDA) by 8.2% to
EUR 40.5 (37.4) million. Depreciation and amortization increased by
EUR 0.9 million. Earnings before interest and taxes (EBIT), including
positive exchange rate effects of EUR 0.2 mn, rose by 8.1% to EUR
29.2 (27.0) million. Operating profit increased by 5.5%. Earnings
before taxes rose by 7.0% to EUR 27.6 (25.8) million.

Prompted mainly by Germany's corporate tax reform, the tax rate fell
to 28.6% (35.3%). Net income rose by 18.0% in the first quarter of
2008 to EUR 19.7 (16.7) million. Net income after minority interests
increased by 22.9% to EUR 18.9 (15.4) million. Thus, earnings per
share reached EUR 0.98, compared with EUR 0.80 in the same quarter a
year ago.

At EUR 23.9 (14.1) million, the Group invested significantly more in
property, plant and equipment over the course of the first three
months of 2008 than during the same period a year ago. The main focus
was on expansion of capacities and projects aimed at operational
streamlining. The expansion of earnings and improvements to working
capital contributed to a 50.4% increase in net cash from operating
activities, which rose to EUR 26.1 (17.3) million.

The ElringKlinger Group can tackle the rest of the financial year
with a solid level of orders in hand. At the end of the first
quarter, order backlog was 18.2% up on last year's first-quarter
figure, reaching EUR 247.4 (209.3) million. The growth rate of order
intake, which rose by 7.1% to EUR 165.1 (154.1) million, slightly
exceeded that of sales in the first quarter. Without having accounted
for acquisitions, the ElringKlinger Group is targeting organic growth
in sales of 5 to 7% for the 2008 financial year. Adjusted for
non-recurring effects, net income after minority interests (profit
attributable to shareholders of ElringKlinger AG) is to grow at a
more pronounced rate. In 2007, profit had been buoyed by exceptional
income of EUR 3.2 million after taxes from insurance payments in
connection with the fire at an ElringKlinger plant in Germany and
one-time income of EUR 5.5 million from the revaluation of deferred
tax items - prompted by Germany's corporate tax reform. In addition,
the pro rata sales and earnings of the newly acquired SEVEX Group,
Switzerland, and the interest held in Marusan Corporation, Tokyo,
will contribute.

end of announcement euro adhoc
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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: Börse Frankfurt / regulated dealing/prime standard
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