DGAP-Adhoc ElringKlinger posts preliminary results for the first quarter of 2021: strong start to the year
DGAP-Ad-hoc: ElringKlinger AG / Key word(s): Preliminary Results/Change in Forecast
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ElringKlinger posts preliminary results for the first quarter of 2021: strong start to the year
Dettingen/Erms (Germany), April 16, 2021 +++ ElringKlinger AG (ISIN DE 0007856023 / WKN 785602) recorded a strong performance in the first quarter of 2021. According to preliminary figures, the Group generated revenue of EUR 424 million (Q1 2020: EUR 396 million) and earnings before interest and taxes (EBIT) of EUR 48.4 million (Q1 2020: EUR 16.0 million) in the first three months of the current financial year. This corresponds to an EBIT margin of 11.4% (Q1 2020: 4.0%). Alongside consistently solid aftermarket business, this was attributable to the high level of revenue seen across the board. The bottom-line result also includes a gain of EUR 10.9 million from the sale of ElringKlinger's Austrian subsidiary to the French partner Plastic Omnium.
In addition to revenue and earnings, other key financial indicators for the first quarter of 2021 also proved very favorable: operating free cash flow, for example, amounted to EUR 28.6 million (Q1 2020: EUR -2.2 million). Not included in this figure are the proceeds of EUR 13.4 million from the sale of the Austrian subsidiary subsidiary and a payment of EUR 30 million received by the company on the basis of an agreement between ElringKlinger and the French supplier Plastic Omnium as part of their fuel cell partnership. The latter is aimed at accelerating further capacity expansion of the joint company EKPO Fuel Cell Technologies GmbH, which will be fully consolidated within the ElringKlinger Group.