The supplier ElringKlinger increased sales and profits in the third quarter: At 400.6 million euros, sales were 5.1 percent above the previous year’s figure. Even more clearly, by 42.9 percent, the earnings before interest and taxes (EBIT) of 27.0 million euros exceeded the value of 2020. This is based on preliminary figures published by the company. However, the year 2020 was also significantly weaker than previous years due to the restrictions to combat the corona crisis. In the third quarter of 2019, sales were still 431.9 million euros and EBIT at 20.8 million euros.
After nine months, the company had a turnover of 1218.2 million euros, 18.3 percent more than in the same period of the previous year. The EBIT was 98.5 million euros in the previous year it was only 2.5 million euros. The operative cash flow after nine months amounted to 73.7 million euros. For the year as a whole, ElringKlinger expects free cash flow in the high double-digit million euro range.
Despite the current problems on the automobile market, such as the lack of chips, which is forcing many manufacturers to cut production, ElringKlinger expects sales for the current year that are several percentage points above the expected changes in global automobile production. IHS had recently expected a production increase of 1.6 percent. ElringKlinger is assuming an EBIT margin of six percent. The other forecasts remain unchanged. The company will publish its final figures for the third quarter on November 4th.
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