ElringKlinger announces higher sales, profits for Q1

ERJ staff report (DS)

Dettingen/Erms, Germany -- The ElringKlinger Group increased sales by 6.4 percent, to Euro 162.8 million in the first quarter of 2008, while profit (EBIT) improved a little faster, rising to Euro 29.2 million from Euro 27 million in the period.

ElringKlinger said this had been achieved despite slow markets in many of its key sales regions.

At EUR 23.9 (14.1) million, the Group invested significantly more in property, plant and equipment over the course of the first three months of 2008 than during the same period a year ago. The main focus was on expansion of capacities and projects aimed at operational streamlining. The expansion of earnings and improvements to working capital contributed to a 50.4% increase in net cash from operating activities, which rose to EUR 26.1 (17.3) million.

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Press release from ElringKlinge