ElringKlinger Closes Fiscal Year 2021 with Cash and Earnings Growth
Dettingen/Erms (Germany), 29 March 2022 The initial figures of ElringKlinger AG published on 25 February 2022 are shown through its final audited effects for the financial year 2021. 9. 7% to 1,624. 4 million euros (2020: 1,480. 4 million euros). Compared to the direction taken through global (3. 4% according to IHS data) and European (-5. 5%) production, the company’s profit expansion is much stronger. In addition, the Group experienced an increase in its earnings before interest and taxes (EBIT) of EUR 102. 0 million (2020: EUR 27. 7 million), corresponding to a margin of 6. 3% (2020: 1. 9%).
When asked to comment, Dr Stefan Wolf, CHIEF Executive Officer of ElringKlinger AG, said: “In the context of a year marked by pandemic-induced restrictions, supply chain difficulties and shortages of uncooked curtains, ElringKlinger’s monetary effects for 2021 are more than satisfactory. The year has shown that ElringKlinger is in a formidable position to continue the megatrend of electromobility and that the Group is very well positioned for the next phase of the transformation process, either monetarily and in terms of products. successful transition and expansion in the medium term. “
Despite these underlying conditions, the Group has controlled to increase its profit through its power stimulation program; recorded earnings before interest, taxes, depreciation and amortization (EBITDA) of €216. 1 million (2020: €181. 5 million). Taking into account depreciation and amortization, the Group recorded a profit before interest and tax (EBIT) of €102. 0 million (2020: €27. 7 million). In total, the coherent percentage of the net source of income attributable to the shareholders of ElringKlinger AG thus amounted to €55. 7 million in 2021 (2020: €-40. 8 million). consistent with the percentage was also well above last year’s point at EUR 0. 88 (2020: -EUR 0. 64).
ElringKlinger has also laid an incredibly solid foundation for its balance sheet: with profits on the rise, net debt reduced by another €90 million in 2021; the net debt ratio increased to 1. 7 (December 31, 2020: 2. 5), while the capital ratio increased to 47. 0% (December 31, 2020: 41. 4%).
Overall, the Group has explained a short-term action strategy in reaction to the difficult conditions that exist. It will basically concentrate on managing the effects of the Russian-Ukrainian conflict, the tense scenario in the commodity markets and the inflationary dangers emanating from emerging countries. energy costs, shipping and wages. In the medium and long term, the industry as a whole will be configured through the transformation procedure observed in the mobility picture. Benefiting from its early orientation and a product portfolio already in transformation, the Group is very well positioned.
Key monetary insights for fiscal year 2021 and fourth quarter 2021
*Proposal at the 2022 Annual General Meeting