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ElringKlinger AG

euro adhoc: ElringKlinger AG
Financial Figures/Balance Sheet
New product ramp-ups contribute to double-digit growth in 2007

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
annual report
27.03.2008
Dettingen/Erms (Germany), March 27, 2008  +++  The ElringKlinger 
Group again succeeded in generating double-digit growth in both sales
and earnings over the course of the 2007 financial year. Sales rose 
by 15.0% to EUR 607.8 (528.4) million, while net income at Group 
level grew by 29.7% to EUR 80.3 (61.9) million. The automotive 
supplier plans to unlock further sales and earnings growth during the
2008 financial year.
Sales growth was driven by all segments within the Group. Despite the
visible decline in vehicle sales in the US and stagnation within the 
European car market, the Original Equipment segment managed to propel
sales by 16.5% to EUR 435.5 (374.0) million in 2007. Benefiting from 
a broader product range and buoyant demand from Eastern Europe as 
well as the Middle East and South East Asia, the Aftermarket segment 
expanded its sales by 13.0% to EUR 94.8 (83.9) million. Within the 
Engineered Plastics segment, which manufactures high-performance PTFE
products for various industries, sales rose by 10.2% to EUR 64.8 
(58.8) million. Recording growth of 18.6%, the Group's international 
markets assumed a more prominent position. In South America sales 
rose by 23.6%, while North America expanded by 16.7%. Business in 
China and Korea also developed at an encouraging level.
Expenditure on the development of new products and technologies rose 
to EUR 29.8 (26.0) million in 2007, the main focus being on 
investments aimed at expanding production capacity and initiating 
production ramp-ups for new products in the portfolio. In total the 
Group´s payments for investments in property, plant and equipment and
investment properties and intangible assets amounted to EUR 95.0 
(49.6) million.
Earnings performance was influenced to a large extent by spiraling 
prices for raw materials and high energy costs. The cost of sales at 
Group level increased by 18.1%. However, capital expenditure directed
at further automation projects and process improvements at all Group 
sites, together with the high capacity utilization of machinery and 
the growing share of new products in the portfolio, helped to lift 
earnings before interest and taxes (EBIT), having accounted for 
negative foreign currency effects, by 29.6% to EUR 121.0 (93.3) 
million. After deducting one-time gains of EUR 5.0 million from 
insurance proceeds in connection with the fire at one of the 
company's German production facilities, year-on-year EBIT growth 
amounted to 24.3%. Earnings before taxes rose by 31.1%, up from EUR 
87.6 million in 2006 to EUR 114.9 million in 2007.
The corporate tax reform enacted by the German government 
necessitated a revaluation of deferred tax assets and deferred tax 
liabilities. This led to tax income of EUR 5.5 million, which was 
offset with income tax expense. The Group's income tax rate thus 
amounted to 30.1% (29.4%). Within this context, it should be noted 
that - also as a result of the corporate tax reform - a corporation 
tax credit of EUR 5.3 million had already had a tax-reducing effect 
in 2006.
Consolidated net income rose by 29.7% to EUR 80.3 (61.9) million. 
Adjusted for the one-time gain of EUR 3.2 million after taxes from 
insurance proceeds as well as for non-recurring income of EUR 5.5 
million from deferred tax items, consolidated net income increased to
EUR 71.5 (56.6) million, thus exceeding the previous year's figure - 
also adjusted for one-time tax effects - by 26.3%. After deducting 
minority interests, profit attributable to the shareholders of 
ElringKlinger AG (consolidated net income after minority interests) 
stood at EUR 75.9 (57.8) million, i.e. 31.4% higher than a year ago. 
Adjusted for one-off items, profit attributable to shareholders of 
ElringKlinger AG rose by 28.0%. Earnings per share were up from EUR 
3.01 to EUR 3.95.
Shareholders are to profit from the Group's solid performance by 
receiving a dividend in excess of that paid for the previous 
financial year. The Management Board and Supervisory Board of 
ElringKlinger AG will be proposing to the General Meeting of 
Shareholders a dividend of EUR 1.40 (1.25) per share for the 2007 
financial year.
ElringKlinger has begun the new financial year with a solid order 
backlog. Within the Original Equipment segment order backlog at the 
end of the 2007 financial year exceeded that recorded a year earlier 
by 17.7% Order intake rose by 15.4%.
ElringKlinger plans to lift Group sales by 5 to 7% in 2008. 
ElringKlinger plans to complement its organic growth by company 
acquisitions if a favorable opportunity arises. The announced 
takeover deal for the SEVEX Group, a Swiss-based specialist within 
the field of thermal and acoustic shielding systems, is about to be 
closed. Raw material and energy prices are likely to remain at an 
elevated level. Within this context, ElringKlinger plans to grow 
earnings stronger than sales and achieve a pronounced increase in 
consolidated net income after minority interests - excluding 
non-recurring items - for the 2008 financial year by streamlining its
costs and launching new products.
end of announcement                               euro adhoc

Further inquiry note:

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

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

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