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ElringKlinger Slips To Loss In Q2, Revenues, Orders Rise; Issues FY22 EBIT Margin View

ElringKlinger AG (EGKLF.PK), a German car spare parts manufacturer, reported Thursday that its second-quarter net loss was 94.1 million euros, compared to net income of 7.9 million euros a year ago.

Loss per share was 1.49 euros, compared to profit of 0.13 euro a year ago.

EBIT amounted to negative 97.1 million euros, compared to positive 23.0 million euros last year. The EBIT margin was negative 22.5 percent, compared to prior year's positive 5.9 percent.

EBITDA stood at 26.7 million euros, down from last year's 50.4 million euros.

Revenue, however, grew 9.4 percent to 430.6 million euros from 393.6 million euros a year ago.

Order intake increased 5.5 percent to 453.2 million euros, and order backlog climbed 27.1 percent to 1.55 billion euros.

Looking ahead for fiscal 2022, the company now anticipates an operating EBIT margin of around 2 to 3 percent in relation to Group revenue for the current financial year, excluding the exceptional effects of impairments. This corresponds to an EBIT margin at Group level of around negative 2 to negative 3 percent.

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