ERJ staff report (DS)
Dettingen / Erms, Germany -- Automotive gasket supplier, ElringKlinger Group managed to improve sales by 11.3 percent to EUR 849.6 (763.2) million in the first nine months of 2012. In the third quarter of 2012, sales revenue grew by 5.8 percent, reaching EUR 279.8 (264.4) million overall.
EBIT contracted by 8.3 percent year on year in the first nine months of 2012, taking the figure to EUR 111.6 (121.7) million. In the third quarter of 2012, EBIT amounted to EUR 36.0 (60.2) million, a slight reduction of 4.0 percent when eliminating the non-recurring gain on disposal attributable to the same quarter a year ago.
The company said, â€œThe marked increase in staff costs, particularly within the domestic market, and the surge in raw material prices during the third quarter with regard to key commodity groups such as polymer granules were largely offset by ongoing measures aimed at raising efficiency levels throughout the Group.â€
In the first nine months of the current financial year, ElringKlinger expanded its investments in research and development by EUR 7.7 million. In total, R&D expenditure rose to EUR 44.7 (37.0) million. Correspondingly, the R&D ratio increased to 5.3 percent (4.8 percent).
Order intake rose by 3.8 percent to EUR 267.5 (257.8) million in the third quarter of 2012. As at September 30, 2012, order backlog within the ElringKlinger Group as a whole thus stood at a solid EUR 472.8 (440.9) million, up 7.2 percent on the previous year's figure.
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Press release from ElringKlinger