Alle Storys
Folgen
Keine Story von ElringKlinger AG mehr verpassen.

ElringKlinger AG

EANS-News: High approval rates at ElringKlinger AGM - Dividend of EUR 0.15 per share agreed

Stuttgart, Dettingen/Erms (euro adhoc) -

Annual General Meeting
  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
companies
May 26, 2009  +++
MDAX-listed ElringKlinger AG will pay a reduced dividend of EUR 0.15 
(0.47) per share for the 2008 fiscal year. The approx. 600 
shareholders attending today's Annual General Meeting at the 
Stuttgart Cultural and Congress Center "Liederhalle" approved the 
actions of both the Management Board and Supervisory Board.
The shareholders looked back on an inconsistent fiscal 2008. After a 
solid business performance in the first six months of 2008, the 
severe decline within automobile markets in North America and Europe 
over the course of the third and the fourth quarter also prompted a 
visible downturn in the ElringKlinger Group.
Despite this, the automotive supplier managed to lift sales by 8.2% 
to EUR 657.8 (607.8) million or the annual period as a whole. The 
acquisition of the SEVEX Group, Switzerland and the expansion of the 
company's ownership interest in ElringKlinger Marusan Corporation, 
Japan, were responsible for this growth. Before purchase price 
allocation and having eliminated non- recurring factors, profit 
attributable to shareholders of ElringKlinger AG was EUR 38.7 (67.2) 
million.
The shareholders approved the actions of both the Management Board 
and the Supervisory Board at a rate of 99.8% and 99.1% respectively. 
KPMG AG Wirtschaftsprüfungsgesellschaft Stuttgart was again appointed
as auditor for the fiscal year 2009.
The shareholders present agreed a reduced dividend of EUR 0.15 per 
share for fiscal 2008, compared with a dividend of EUR 0.47 per share
(after 1:3 stock split in July 2008) for the previous year. 
Calculated on the basis of profit attributable to the shareholders of
ElringKlinger AG, the dividend ratio for 2008 was 78.7%.
Furthermore, the AGM authorized the company to reacquire its own 
shares up to a total amount of 10% of share capital at the date on 
which this resolution was passed.
As part of an exhibition in the foyer of the "Liederhalle" Cultural 
and Congress Center, Stuttgart, the company unveiled its latest 
products and technology developed by the respective business 
divisions of the AG and the subsidiaries of the ElringKlinger Group -
under the common heading of "CO2 reduction".
Visitors attending the event showed a particularly keen interest in a
glass exhaust tract featuring fourteen different ElringKlinger 
products. Additionally, the company showcased a number of pioneering 
solutions developed for the purpose of optimizing internal combustion
engines as well as components relating to fuel cell research and 
battery technology.
Given the continued economic crisis and uncertainties as to the 
future direction of the automobile markets, the Group unchanged has 
made preparations for a range of different scenarios in 2009. These 
range, in the best case, from matching the revenue and EBIT figures 
of fiscal 2008 under the assumption that the global automobile 
markets recover substantially by the beginning of the second half of 
2009 to the scenario of a decline in vehicle production within the 
Northern American and European markets by 20 to 25%, coinciding with 
an additional contraction of vehicle sales within the emerging 
markets. Should this last scenario eventuate, ElringKlinger 
anticipates Group sales in the region of EUR 580 to 600 million and 
an EBIT margin of 8 to 10% for fiscal 2009 as a whole. This includes 
revenues from planned product ramp-ups as well as sales and earnings 
contributions of the newly acquired SEVEX Group and ElringKlinger 
Marusan Corporation, for which 2009 is the first time in which these 
entities have been included in consolidated Q1 accounts (in 2008 
effective from April 1 and May 1 respectively). In the first three 
months of 2009, however, the markets declined at a more pronounced 
rate than previously assumed as part of the negative scenario. In 
January and February, aggregate vehicle sales declined by more than 
22% in Europe and by 39% in the United States. The fall in vehicle 
production figures was even more extensive. If the very low level of 
vehicle sales seen in the first two months continues over 2009 as a 
whole, Group sales may contract in the direction of EUR 500 million. 
Even in this case, ElringKlinger will be targeting an EBIT margin of 
5 to 8%, supported by a Group-wide streamlining program already 
initiated within the area of material expenses, personnel expenses 
and purchasing, as well as intensive working capital management.
Despite the difficult market environment, Dr. Stefan Wolf, CEO of 
ElringKlinger AG, outlined his confidence in the company's future 
prospects. "Amid the current crisis, our financial strength and 
substantial equity ratio will help us in enhancing ElringKlinger's 
competitive position," said Dr. Wolf in his speech to shareholders. 
"We shall continue to invest heavily in research and development over
the course of this year and focus on delivering solutions that 
address the core issues facing today's automobile industry: the 
lowering of emission levels, the reduction of fuel consumption and 
the use of alternative drive concepts," said Dr. Wolf.
end of announcement                               euro adhoc

Further inquiry note:

Stephan Haas
Investor Relations/PR
Telefon: +49(0)7123 724 137
E-Mail: stephan.haas@elringklinger.de

Branche: Automotive Equipment
ISIN: DE0007856023
WKN: 785602
Index: MDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Düsseldorf / free trade
München / free trade
Stuttgart / regulated dealing

Weitere Storys: ElringKlinger AG
Weitere Storys: ElringKlinger AG
  • 05.03.2009 – 12:18

    ElringKlinger AG promoted to MDAX

    ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for the content of this announcement. stock market Dettingen/Erms (euro adhoc) - Dettingen/Erms, March 5, 2009 +++ After its five-year listing in the SDAX, automotive supplier ElringKlinger AG is to be included in the MDAX effective from March 20, 2009. This decision was announced by Deutsche Börse subsequent in yesterday´s meeting by the Index Commission. As regards the first selection ...