ElringKlinger AG : Q3 2024 not as bad as feared and FY 2024 guidance confirmed
>A quite robust Q3 2024 performance in an adverse environment - ElringKlinger reported Q3 2024 results that were not as bad as feared. Q3 2024 reported group sales were down -2% y-o-y (flat organic growth y-o-y) to € 441m, which is c.2% ahead of our and cons. expectations. Group adj. EBIT was flat y-o-y at € 23m (+12% vs. ODDO BHF; +15% vs. cons.) with an adj. EBIT margin of 5.2% (+50bp vs. ODDO BHF; +60bp vs. cons.) in the quarter under review. ElringKlinger’s Q3 202...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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