ERJ staff report (DS)
Dettingen/Erms, Germany) -- The ElringKlinger Group reported double-digit growth in both sales and earnings over the course of the 2007 financial year. Sales rose by 15.0 percent to Euro 607.8 (528.4) million, while net income at Group level grew by 29.7 percent to Euro 80.3 (61.9) million. The automotive supplier said it plans to unlock further sales and earnings growth during the 2008 financial year.
Expenditure on the development of new products and technologies rose to EUR 29.8 (26.0) million in 2007, the main focus being on investments aimed at expanding production capacity and initiating production ramp-ups for new products in the portfolio. In total the GroupÂ´s payments for investments in property, plant and equipment and investment properties and intangible assets amounted to EUR 95.0 (49.6) million.
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Press release from ElringKlinger