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ElringKlinger AG

euro adhoc: ElringKlinger AG
Financial Figures/Balance Sheet
ElringKlinger records growth of 15 percent in revenue and 28 percent in adjusted net income after minority interests in the first half of 2007

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
6-month report
09.08.2007
Dettingen/Erms, August 9, 2007 - - - The ElringKlinger Group recorded
a further improvement in sales revenues and earnings in the first six
months of 2007. Group sales revenues increased by 15.1% to EUR 310.0 
(269.3) million. Revenue also developed favorably over the course of 
the second quarter of 2007. Despite lower vehicle production figures 
within the European and American markets, ElringKlinger was able to 
propel Group revenue 17.8% upwards to EUR 157.0 (133.3) million. The 
most substantial percentage increases were achieved in Asia, North 
America and the non-domestic European markets. Successful product 
launches, the growing proportion of diesel engines within the market 
for new automobiles as well as buoyant demand for specialty gaskets 
and heat shielding components used in the vehicle exhaust tract 
combined to produce visible forward momentum.
Within the Original Equipment segment, sales revenues rose by 14.9% 
to EUR 221.1 (192.3) million in the first six months of 2007. In the 
second quarter, ElringKlinger lifted OEM sales revenues by 18.3% to 
EUR 114.2 (96.5) million. More palpable demand for spare parts - 
particularly in Eastern Europe and the Middle East - in combination 
with an expanded product range produced 17.4% growth in sales 
revenues within the Aftermarket segment in the first half of 2007, 
taking this figure to EUR 49.6 (42.3) million. In the second quarter 
sales revenues amounted to EUR 23.7 (20.1) million, 18.0% up on the 
figure posted for the same period a year ago. Within the area of 
Engineered Plastics, which is focused on the development and 
manufacture of products made of high-performance PTFE, the 
ElringKlinger Group achieved revenue growth of 13.0% to EUR 33.2 
(29.4) million in the first six months. The Engineered Plastics 
segment also recorded an expansion in sales revenues in the second 
quarter, up by 13.2% to EUR 16.0 (14.1) million.
Focusing mainly on the expansion of production capacity and on 
projects designed to enhance efficiency levels ElringKlinger Group in
the first half-year of 2007 invested a total of EUR 35.1 (21.1) 
million in property, plant and equipment as well as in real estate.
Substantial energy costs and the additional surge in raw material 
prices over the first half of 2007, particularly for high-grade 
steel, had an impact. In the first six months of 2007 cost of sales 
climbed to EUR 203.9 (174.6) million. The gross margin stood at 34.2%
(35.2%). In the second quarter it reached 34.6% (35.4%). Selling as 
well as general and administrative expenses rose at a slower rate 
than revenue. In the first half-year of 2007 the ElringKlinger Group 
expended EUR 15.2 (14.1) million on research and development, a 
year-on-year increase of EUR 1.1 million.
The damages caused by the fire in mid-April 2007 and the subsequent 
interruption of operations at the Group's Runkel plant, are covered 
by the insurance of the ElringKlinger Group. As the insurance 
proceeds were in excess of the residual amounts to be written off in 
connection with damaged plant, machinery and buildings, non-recurring
extraordinary income amounted to EUR 4.7 million in the second 
quarter.
Benefiting from efficiency gains and higher capacity utilization as 
well as several new product start-ups, ElringKlinger lifted EBITDA - 
having accounted for negative foreign currency effects equivalent to 
EUR 0.5 million - by 24.8% to EUR 83.8 (67.1) million in the first 
six months, thereby outpacing revenue growth. Adjusted for 
extraordinary income from insurance proceeds, EBITDA growth stood at 
17.9%. In the second quarter, foreign currency effects remained 
neutral. Adjusted for extraordinary income, EBITDA rose by 23.6% to 
EUR 41.7 (33.7) million.
In the first six months, EBIT rose by 35.6% to EUR 62.1 (45.8) 
million. Having deducted extraordinary income, EBIT growth amounted 
to 25.4%. In the second quarter, ElringKlinger increased EBIT by 
51.9% to EUR 35.1 (23.1) million. Adjusted for extraordinary income, 
EBIT amounted to EUR 30.4 million, which corresponds to an increase 
of 31.8%. The adjusted EBIT margin stood at 19.4% (17.3%).
Earnings before taxes rose from EUR 43.5 million in the first six 
months of 2006 to EUR 59.7 million in the first half of 2007, a 
year-on-year rise of 37.2%. Net of extraordinary income the growth 
rate for the first six months of 2007 was 26.5%. In the second 
quarter earnings before taxes rose by 55.5% to EUR 33.9 (21.8) 
million and by 34.1% after deducting extraordinary income.
Due to the reduction in the tax rate to 34.7% (35.4%), consolidated 
net income for the first half rose by 38.8% - i.e. at a more 
pronounced rate than pre-tax profit - to EUR 39.0 (28.1) million. 
Adjusted for extraordinary income attributable to the insurance 
proceeds, amounting to EUR 2.9 million after taxes, the year-on-year 
increase in net income stood at 28.3%. Based on a tax rate of 34.2% 
(34.9%), net income for the second quarter rose by 57.0% to EUR 22.3 
(14.2) million. Net income adjusted for extraordinary income rose by 
36.4% to EUR 19.4 million. After deducting minority interests, 
consolidated net income for the first half amounted to EUR 36.4 
(26.1) million. This equates to a year-on-year increase of 39.4%. 
ElringKlinger was able to lift net income after minority interests, 
adjusted for extraordinary income, by 28.1% to EUR 33.5 million. In 
the second quarter, net income after minority interests increased by 
57.3% to EUR 21.0 (13.4) million. Having deducted extraordinary 
income associated with the proceeds from the above-mentioned 
insurance claim, net income after minority interests was EUR 18.1 
million, 35.3% higher than in the same period a year ago.
Earnings per share accounted for on the basis of IFRS rose from EUR 
1.36 to EUR 1.90 in the first six months. Adjusted for exceptional 
items, earnings per share stood at EUR 1.74, which corresponds to a 
28.1% increase compared with the same period a year ago. In the 
second quarter, ElringKlinger increased its earnings per share from 
EUR 0.70 to EUR 1.10. Adjusted for extraordinary income, earnings per
share amounted to EUR 0.94.
Both order intake and order backlog developed well. Order intake 
increased by 15.5% to EUR 325.8 (282.1) million in the first six 
months. The second quarter accounted for EUR 171.7 (137.6) million in
incoming orders. Thus, order intake for the second quarter of 2007 
was 24.8% higher than in the same quarter a year ago. At the end of 
the second quarter, order backlog amounted to EUR 224.0 (190.5) 
million, i.e. 17.6% up on the figure posted at June 30, 2006.
Buoyed by the solid result achieved in the first six months, 
ElringKlinger is well on the way to exceeding the targets it had 
originally set itself for 2007. On this basis, ElringKlinger has 
defined a new target of approx. 10% growth in sales revenues for the 
2007 financial year as a whole. Adjusted for non-recurring items, 
such as the extraordinary income from insurance proceeds, 
consolidated net income after minority interests is forecast to be 
approx. 15% higher than previous year's consolidated net income after
minority interests adjusted for an extraordinary corporation tax 
credit item of EUR 5.3 million.
end of announcement                               euro adhoc 09.08.2007 07:32:44

Further inquiry note:

Stephan Haas
Investor Relations Manager
Telefon: +49(0)7123 724-137
E-Mail: stephan.haas@elringklinger.de

Branche: Automotive Equipment
ISIN: DE0007856023
WKN: 785602
Index: SDAX, CDAX, Classic All Share, Prime All Share
Börsen: Börse Frankfurt / official dealing/prime standard
Börse Berlin / free trade
Börse Düsseldorf / free trade
Börse München / free trade
Börse Stuttgart / official dealing

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