ElringKlinger AG : FY 23 prelims are less bad than feared, no fresh guidance for FY 24 yet
>Q4 23 panned out better than expected in the end - ElringKlinger pre-released FY 23 reported group sales up +3% y-o-y to € 1.85bn (-3% vs. ODDO BHF and consensus) with organic growth of +4.6% (FY 23 guidance range +3-5%). Group adj. EBIT is up 46% y-o-y to € 100m (+5% vs. ODDO BHF, +2% vs. consensus) with an adj. EBIT margin of 5.4% (ODDO BHF & consensus: 5.1%; FY 23 guidance: ~5%). FY 23 group reported EBIT increased from -€ 42m a year ago to € 83m in the period und...ElringKlinger is a holding company. Co., through its subsidiaries, is engaged in the manufacturing and supply of cylinder-head and specialty gaskets, plastic housing modules, thermal and acoustic shielding parts for engine, transmission and exhaust tract applications, exhaust gas purification systems and components for lithium-ion batteries and fuel cells. Alongside vehicle and engine manufacturers, Co.'s customer base includes numerous automotive suppliers, particularly in the field of turbochargers, exhaust technology and transmission engineering. Co.'s operating business is divided into five segments: Original Equipment, Aftermarket, Engineered Plastics, Services and Industrial Parks.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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