Elringklinger Q3 Profit Declines; Affirms FY Outlook - Quick Facts

(RTTNews) - Elringklinger AG (EGKLF.PK) reported that its third-quarter net income after non-controlling interests declined to 10.8 million euros from 16.1 million euros in the year-ago period. Earnings per share were 0.17 euros, down from 0.25 euros last year.

EBIT for the quarter declined to 22.9 million euros from 33.9 million euros.

However, revenue for the quarter rose 0.5 percent to 405.8 million euros from 403.6 million euros in the year-ago period. Organic revenue growth amounted to 21.4 million euros or 5.3 percent in the quarter.

The company noted that currency effects associated with the strength of the euro - particularly against the Turkish lira, Brazilian real, and Mexican peso - diluted revenue by 7.1 million euros or 1.8 percent.

Additionally, revenue attributable to the divested entity Hug Group totaled 12.1 million euros or 3.0 percent.

Looking ahead, the Group confirmed its outlook with regard to revenue and earnings for 2018, despite the global automotive industry having to operate against an intense competitive backdrop and macroeconomic conditions remaining equally challenging.

With organic revenue growth standing at 7.4 percent after the first nine months and orders remaining strong, the Group said it is confident that it can outpace market expansion by 2 to 4 percentage points on the basis of organic revenue growth.

The company expects to achieve an EBIT margin before purchase price allocation of around 7 percent in the annual period as a whole.
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