ElringKlinger was able to increase revenue by 2% to just below €1.70bn (+7.4% organically), but profits were again under severe pressure. Consequently, the company will not pay any dividend. These numbers were in line with our projections. However, earnings fell considerably short of our forecasts. EBIT fell by 30% to €96m and net earnings by 37% to €44m. We had anticipated respective earnings numbers of €108m and €72m.
27 Mar 2019
Costs are out of control
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Costs are out of control
ElringKlinger AG (ZIL2:WBO) | 0 0 (-0.7%) | Mkt Cap: 1,074m
- Published:
27 Mar 2019 -
Author:
Hans-Peter Wodniok -
Pages:
2
ElringKlinger was able to increase revenue by 2% to just below €1.70bn (+7.4% organically), but profits were again under severe pressure. Consequently, the company will not pay any dividend. These numbers were in line with our projections. However, earnings fell considerably short of our forecasts. EBIT fell by 30% to €96m and net earnings by 37% to €44m. We had anticipated respective earnings numbers of €108m and €72m.