ElringKlinger reports a drop in sales of almost 42 percent to 252.2 million euros for the second quarter of 2020. Earnings before interest fell by 75 million euros and are now in the red at 32.4 million euros. On a half-year basis, ElringKlinger reports a drop in sales of almost 26 percent to 648 million euros. Before interest and taxes, a loss of 16.4 million euros was incurred, the bottom line being 35.5 million euros or 0.53 euros per ElringKlinger share compared to 0.16 euros in the same period of the previous year. In contrast, the operating cash flow remained positive, but fell from 49.5 million euros to 22.7 million euros.
“Even in times of the Corona crisis, we were able to continue on our chosen path: We achieved positive operating cash flow and further reduced net debt,” said ElringKlinger CEO Stefan Wolf on Friday. The half-year figures are comparatively robust, is his conclusion. “This is also due to the measures within the group, with which we have responded quickly to the global expansion, and the good first quarter,” said the manager.
For 2020 as a whole, the southern German company is expecting sales that will not fall quite as sharply as global car production – for this, ElringKlinger expects a decline of 22 percent. According to the company, the EBIT margin will be “noticeably below the previous year’s level”.
At a glance – chart and news: ElringKlinger