ElringKlinger AG Announces Improved Earnings and High E-mobility Nominations in 2023 Financial Results

ElringKlinger AG revealed a significant increase in group revenue and earnings for the financial year 2023, alongside a noteworthy volume of nominations for e-mobility applications. The company reported a revenue increase to EUR 1.85 billion, with organic growth reaching 4.6%. Adjusted EBIT witnessed a substantial rise to EUR 100.1 million, reflecting a 5.4% adjusted EBIT margin, a notable improvement in operating free cash flow, and a decrease in net financial liabilities.

The company plans to maintain a stable dividend payment, proposing EUR 0.15 per share. Despite a volatile economic environment, ElringKlinger projects slight organic revenue growth and an adjusted EBIT margin of around 5% for 2024. CEO Thomas Jessulat highlighted the significant nominations for e-mobility applications received in 2023 as a key driver for the company's strong position and future growth.

ElringKlinger's key growth regions were Europe and North America, with the automotive market in Asia-Pacific experiencing fluctuations. The company attributes its performance to its extensive product portfolio and strategic focus on e-mobility and lightweighting solutions. It also announced significant orders in e-mobility, including a large-scale series nomination by the BMW Group and various other high-value orders.

With an operating free cash flow of EUR 36.7 million and a further reduction in net financial liabilities, ElringKlinger demonstrates financial resilience. The company remains committed to delivering shareholder value and anticipates continued growth in future-oriented sectors like e-mobility and lightweighting, projecting an adjusted EBIT margin of around 7% in the medium term.