ElringKlinger’s Q1 revenue number was up by 4% to €385m but EBIT fell by 13% to €31m and net earnings by 39% to €17.2m. All these numbers are below our expectations of €389m, €40m, and €27m. €2.6m of the profit disappointment is the consequence of Management Board member Schmauder having left the company in February. In addition, production bottlenecks have cost another €7m.
04 May 2016
Sales slightly up but profits sharply lower than expected
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Sales slightly up but profits sharply lower than expected
ElringKlinger AG (ZIL2:WBO) | 0 0 (-0.7%) | Mkt Cap: 1,074m
- Published:
04 May 2016 -
Author:
Hans-Peter Wodniok -
Pages:
2
ElringKlinger’s Q1 revenue number was up by 4% to €385m but EBIT fell by 13% to €31m and net earnings by 39% to €17.2m. All these numbers are below our expectations of €389m, €40m, and €27m. €2.6m of the profit disappointment is the consequence of Management Board member Schmauder having left the company in February. In addition, production bottlenecks have cost another €7m.