ElringKlinger AG : Q2 2024 below expectations, but reiterating the FY 2024 guidance
>Tough market conditions are weighing on the Q2 2024 performance - ElringKlinger’s Q2 2024 group sales are -5% y-o-y to € 445m (-3% vs ODDO BHF; -5% vs cons.) with an organic growth rate of -3.8% y-o-y. Group adj. EBIT is -9% y-o-y to € 22.5m (-3% vs ODDO BHF; -2% vs cons.) and an adj. EBIT margin of 5.0% (ODDO BHF: 5.0%; cons.: 4.9%) in the quarter under review. The company blames a weak market environment in the automotive space as well as changes in customer call-o...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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