ElringKlinger AG

ElringKlinger AGM resolves on dividend increase – Broad approval for all items on the agenda

  • Dividend increases 10% to EUR 0.55 (0.50) per share
  • Actions of the Management Board and Supervisory Board approved by a large majority
  • Rita Forst, former member of the Management Board of Adam Opel AG, new member of the Supervisory Board

Stuttgart, Dettingen/Erms (Germany), May, 13, 2015 +++ Addressing around 500 shareholders, shareholder representatives and guests attending today’s AGM at the Cultural and Congress Center Liederhalle in Stuttgart, Dr. Stefan Wolf, CEO of MDAX-listed ElringKlinger AG, took stock of a 2014 financial year that proved encouraging for the company: "In a market environment influenced to some extent by geopolitical uncertainties, we managed to lift sales revenue by 15.3% to EUR 1,325.8 million. Our Group maintained its momentum of profitable growth." Adjusted earnings before interest and taxes (EBIT) before purchase price allocation rose to EUR 162.3 (149.8) million. The share of net income attributable to ElringKlinger shareholders also increased, totaling EUR 105.7 (92.7*) million.

The proposal by the Management Board and Supervisory Board for a higher dividend of EUR 0.55 (0.50) per share was approved by the AGM with 99.97% of the votes. Thus, ElringKlinger will distribute a dividend payout of EUR 34.8 (31.7) million among its shareholders, allowing them to benefit appropriately from the company's success. Calculated on the basis of ElringKlinger AG's net income for the year (EUR 58.9 million), the dividend ratio for the financial year 2014 increased to 59.1% (52.7%).

Supervisory Board elections – Rita Forst appointed as a new member
With the terms in office of the Supervisory Board members representing ElringKlinger's shareholders having come to an end, the AGM had to cast their votes for a newly appointed Supervisory Board in 2015. The shareholder representatives put forward as candidates were re-elected with large majorities by the AGM. Rita Forst was appointed to the Supervisory Board as a new member. Until 2012, she had been on the Management Board of Adam Opel AG.

The other proposals put forward by the company's management were also passed with a broad consensus. The actions of the Supervisory Board were ratified with 95.51% of the votes and those of the Management Board with 99.93%. Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft, Stuttgart, was re-appointed as the independent auditor for the 2015 financial year. The compensation system for the Management Board members was approved by the AGM with 92.18% of the votes.

pure process – the essence of ElringKlinger's unique core competencies
As part of a presentation in the foyer of the Cultural and Congress Center, shareholders and guests were given an insight into the extensive range of products of the ElringKlinger Group tailored to the task of emissions reduction. Those attending showed a particularly keen interest in the company's innovative lightweight solutions such as cockpit and front-end carriers. These hybrid polymer-metal components represent a pioneering technology that brings together the benefits of plastic and metal. It combines the merits of outstanding rigidity with those of extremely low weight, thus making a significant contribution to fuel and therefore emissions reduction.

"These so-called hydroformed hybrids mark ElringKlinger's entry into lightweight body engineering. This is the result of many years of expertise in the field of materials and tooling," said CEO Dr. Stefan Wolf. "By the end of 2020, we will be looking to generate sales revenue of EUR 120 to 130 million within this area."

Outlook 2015
ElringKlinger anticipates that global automobile production will expand by around 2% in 2015. Based on this assumption, the Group is targeting organic revenue growth of 5 to 7%. Additionally, the first-time consolidation of ElringKlinger Automotive Manufacturing (M&W) will contribute around EUR 30 million to Group revenue in the financial year as a whole. Adjusted for non-recurring items, EBIT before purchase price allocations is expected to reach around EUR 165 (162.3) million in 2015 as a whole.

*Excl. one-time gain from assumption of control of ElringKlinger Marusan Corporation (EUR 12.7 million after taxes)

Reprinting free of charge. File copy requested.
For further information please contact:

ElringKlinger AG 
Dr. Jens Winter 
Strategic Communications 
Max-Eyth-Straße 2 
D-72581 Dettingen/Erms
Phone +49 7123 724-88335 
Fax +49 7123 724-85 8335 
E-mail jens.winter@elringklinger.com