ElringKlinger AG : Q1 2024 results look broadly in line and no change to the FY 2024 outlook
>Q1 2024 shows a lack of top-line volume, while margins are robustly >5% - ElringKlinger’s Q1 2024 reported group sales are -5% y-o-y to € 465m (-2% vs ODDO BHF; -3% vs cons.) with an organic growth rate of -3.8%. The company blames a challenging overall market environment and explicitly mentioned Global LVP at -0.8% y-o-y and Europe -2.5% y-o-y in Q1 2024. Group adj. EBIT is -9% y-o-y to € 24m (in line with ODDO BHF & cons.) with an adj. EBIT margin of 5.2% (+10bp vs...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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