ElringKlinger AG : Still a bit more patience required before the portfolio transition may start to pay off from the middle of this decade
>Lagging top-line momentum expected to persist in Q4 2023 - ElringKlinger released weak Q3 2023 results and cut its FY 2023 sales guidance with a pre-release at the end of October 2023. Q3 2023 reported group sales were -3% y-o-y to € 452m with an organic growth rate of +0.7%, which was a significant slowdown vs the Q2 2023 rate of +10.9% and +7.7% in 9M 2023. The disappointing Q3 2023 sales performance was primarily driven by the Auto OE segment, where ElringKlinger ...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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