ElringKlinger remains in the black for first half

ERJ staff report (DS)

Dettingen/Erms, Germany -- In the first half of 2009, the severe malaise facing the international automobile markets led to a decline in consolidated sales of 23.5% to EUR 267.9 (350.2) million within the ElringKlinger Group.

Despite these challenging conditions, earnings remained well within positive territory, with the Group generating EBIT of EUR 22.6 (60.4) million and net income after minority interests of EUR 10.0 (38.1) million. In the same period, net cash from operating activities totaled EUR 60.9 (42.4) million, up 43.6% on last year's figure for the first half.

The company said it saw a slight upturn in the second quarter. Despite the continuing weakness of the commercial vehicle sector and the downturn in demand recorded by ElringKlinger Kunststofftechnik GmbH in the field of mechanical and plant engineering, compared with the first quarter Group sales revenue grew by EUR 8.5 million to EUR 138.2 million in Q2 2009.

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Press release from ElringKlinger