DGAP-Adhoc

ElringKlinger AG: Preliminary annual result for 2014: ElringKlinger records organic revenue growth of 11.2%

ElringKlinger AG / Key word(s): Preliminary Results

02.03.2015 07:39

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- Revenue increases by 15.3% - organically by 11.2% - to EUR 1,325.8
million

- Adjusted EBIT before purchase price allocation (EUR 3.4 million) at
EUR 162.3 million

- Outlook for 2015: organic revenue growth of 5 to 7% plus acquisitions;
EBIT before purchase price allocation projected at between
EUR 170 and 180 million

Dettingen/ Erms (Germany), March 2, 2015 +++ Based on preliminary data,
the ElringKlinger Group recorded sales revenue of EUR 1,325.8 (1,150.1)
million in the 2014 financial year. Organically, i.e. eliminating the
effects of foreign currency translation and changes in the scope of
consolidation, sales revenue increased by 11.2%, despite the malaise
afflicting vehicle markets in both Brazil and Russia. ElringKlinger
benefited from strong structural growth in many of its product groups aimed
at CO2 reduction and expanded at a percentage rate that was well in excess
of growth in terms of global vehicle production. The full consolidation of
ElringKlinger Marusan Corporation contributed EUR 23.1 million to Group
revenue in 2014.*

It should be noted that ElringKlinger had generated a one-time gain of EUR
17.6 million in 2013 following the assumption of control of the 50:50 joint
venture ElringKlinger Marusan Corporation effective from December 31, 2013.

The operating result rose to EUR 154.0 million in 2014. Adjusted for the
one-time gain of EUR 17.6 million from the assumption of control of
Marusan, the comparative prior-year figure was EUR 146.6 million (including
one-time gain: EUR 164.2 million).

Group EBIT, adjusted for non-recurring items and before purchase price
allocation, stood at EUR 162.3 (149.8) million, up 8.3% on the previous
year; this corresponds to a margin of 12.2%. Due to current demand
patterns, the new E-Mobility division fell well short of the original
target and recorded a loss of EUR 8.1 (loss of 7.3) million. In total,
one-off exceptional charges of EUR 4.9 million had a dampening effect: as
part of the plant relocation to the newly constructed site in Gumi, the
subsidiary ElringKlinger Korea Co., Ltd. had to carry out inventory