ElringKlinger Records Solid Second-Quarter Performance in 2024

ElringKlinger AG reported a revenue of EUR 445.0 million for the second quarter of 2024, down 5.1% from Q2 2023. The decline was primarily due to foreign exchange rates and changes in customer call-off volumes in e-vehicles and commercial vehicles. Adjusting for currency effects, revenue was EUR 450.7 million, a 3.8% decrease from the previous year.

Despite the revenue drop, EBITDA improved by 6.1% to EUR 49.7 million, driven by favorable material price trends and revenue mix. Adjusted EBIT stood at EUR 22.5 million, reflecting a margin of 5.0%. The net debt-to-EBITDA ratio improved to 1.7, while the equity ratio rose to 45.1%.

ElringKlinger's SHAPE30 transformation strategy remains on track. The establishment of a new battery center in the USA marks a significant milestone. The firm remains confident in its ability to exceed last year's revenue in organic terms for the current financial year.