Car parts manufacturer Elringklinger Ag (EGKLF.PK) Thursday confirmed its outlook for 2013, after reporting higher adjusted profit for 2012 that was backed by over 9 percent growth in sales.
The company had announced key financial figures earlier this month.
In 2013, ElringKlinger expects Earnings Before Interest and Taxes or EBIT, adjusted for one-time effects, to expand faster than sales revenue. The firm sees stagnating to slightly expanding global vehicle production in 2013.
Adjusted EBIT is expected to range from 150 million euros to 155 million euros and the company targets revenue growth of 5 percent to 7 percent in 2013. ''Should global car production only stagnate, revenue growth is likely to be positioned at the lower end of this range,'' the firm noted.
Annual net income after non-controlling interests declined to 85.9 million euros from 94.9 million euros. Adjusted for a one-time gain of 16.5 million euros, net income rose 9.6 percent.
EBIT fell to 136.0 million euros from 148.7 million euros and foreign exchange losses amounted to 2.9 million euros in 2012.
Adjusted for non-recurring income of 22.7 million euros from the sale of the Ludwigsburg industrial park in the previous year, EBIT rose 7.9 percent.
Sales revenue climbed 9.1 percent to 1.127 billion euros from 1.033 billion euros in the prior year, despite the weakness of the European automotive market. Acquisitions contributed an incremental 19.3 million euros to sales in 2012.
Revenues increased 24.9 percent in Asia and 19.9 percent in the NAFTA region, while Europe, excluding Germany, saw an almost 1 percent slide.
Original Equipment revenues climbed to 906.9 million euros from 827.2 million euros. The business benefited from a growth of around 4 percent in global vehicle production and a significant number of new product ramp-ups.
Order intake for the year rose 4.2 percent to 1.135 billion euros, even as it contracted slightly in the fourth quarter.
As of December 31, 2012, order backlog was 456.0 million euros, compared to 448.4 million last year, thus exceeding the previous record by 1.7 percent.
The stock fell 1.57 percent on Wednesday to close at 23.87 euros.
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