ElringKlinger pays out 66% more per share for successful fiscal 2011

ERJ staff report (LMH)

Dettingen, Germany -- ElringKlinger AG will pay out a total dividend of EUR 0.58 per share for fiscal 2011, up 66 percent on the previous year's dividend distribution, the company has said following its 16 May AGM.

ElringKlinger said it benefited not only from buoyant demand for new vehicles in the emerging markets and North America over the course of fiscal 2011 but also from the rollout of several new products.

In 2011, profit attributable to shareholders of ElringKlinger AG rose by 44.7 percent to Euro 94.9 million. The significant increase compared to the previous year was also the result of a one-time gain from the sale of the Ludwigsburg industrial park in August 2011. This contributed Euro 16.5 million to net income for the period.

Beyond the regular dividend of Euro 0.40 per share proposed for fiscal 2011, the AGM resolved that shareholders should also benefit from the aforementioned one-time gain in the form of an additional special bonus of Euro 0.18 per share.

Addressing some 750 shareholders and guests attending the AGM at the Liederhalle Cultural and Congress Centre in Stuttgart, CEO Dr. Stefan Wolf gave a positive summary of the fiscal year just ended.

"For the first time in the history of ElringKlinger we have seen sales move beyond the threshold of one billion euros,” he said. “Growth within this area was achieved primarily under our own steam, but also with the help of three acquisitions. In doing so, we have reached new dimensions."

In 2011, ElringKlinger recorded Group sales of Euro 1,032.8 million. Earnings before interest and taxes (EBIT) rose to Euro 148.7 million.

Wolf noted that after a successful start to 2012, he is relatively confident as regards ElringKlinger's prospects for the remainder of the financial year, despite the difficult economic climate within the eurozone.

In the first quarter of 2012, ElringKlinger again managed to outpace the market as a whole in terms of percentage growth in global vehicle production. Sales revenue increased by 16.1 percent to Euro 283.8 million, while EBIT grew at a slightly more pronounced rate to Euro 37.3 million.

The Group is targeting organic revenue growth of 5 to 7% for the 2012 fiscal year as a whole.

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Press release from ElringKlinger