ERJ staff report (DS)
Dettingen/Erms, Germany - The ElringKlinger Group saw sales revenue increase by 16.1 percent to EUR 283.8 (244.5) million. Despite foreign exchange losses, EBIT rose by 16.6 percent to EUR 37.3 (32.0) million in the first quarter of 2012. ElringKlinger saw net income after minority interests expand by 16.3 percent to EUR 24.2 (20.8) million.
The financial performance of the former Freudenberg companies, which were acquired effective from January 1, 2011, showed signs of improvement. Having posted a loss in the previous quarter, the former Freudenberg companies contributed EUR 13.7 million in total to sales generated in the first quarter of 2012 and EUR 0.2 million to earnings before taxes.
he gross profit margin was up compared to the previous quarter (29.0 percent), reaching 29.5 percent (27.3 percent). This improved figure was attributable to Group-wide measures aimed at raising efficiency levels, as well as the fact that material prices remained stable to a large extent.
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Press release from ElringKlinger