ElringKlinger AG

ElringKlinger AGM resolves on special bonus – Prof. Hans-Ulrich Sachs appointed as new member of Supervisory Board

Stuttgart, Dettingen/Erms (Germany), May 16, 2012 +++ ElringKlinger AG will pay out a total dividend of EUR 0.58 (0.35) per share for fiscal 2011, up 66% on the previous year's dividend distribution. The Annual General Meeting (AGM) appointed Prof. Hans-Ulrich Sachs as a new member of the Supervisory Board of the MDAX-listed corporation and approved the actions of the Supervisory Board and Management Board by a large majority.

ElringKlinger benefited not only from buoyant demand for new vehicles in the emerging markets and North America over the course of fiscal 2011 but also from the rollout of several new products. In 2011, profit attributable to shareholders of ElringKlinger AG rose by 44.7% to EUR 94.9 (65.6) million. The significant increase compared to the previous year was also the result of a one-time gain from the sale of the Ludwigsburg industrial park in August 2011. Having accounted for deferred taxes, this contributed EUR 16.5 million to net income for the period. Beyond the regular dividend of EUR 0.40 (0.35) per share proposed for fiscal 2011, the AGM resolved that shareholders should also benefit from the aforementioned one-time gain in the form of an additional special bonus of EUR 0.18 per share. The proposal by the Management Board and Supervisory Board for a total dividend payout of EUR 0.58 (0.35) per share was approved by the shareholders present with 99.97% of the votes.

Thus, the total amount to be distributed rose to EUR 36.7 (22.2) million. Based on net income generated by the ElringKlinger AG, the dividend ratio stands at 49.5% (60.8%).

Addressing some 750 shareholders and guests attending the AGM at the Liederhalle Cultural and Congress Center in Stuttgart, CEO Dr. Stefan Wolf gave a positive summary of the fiscal year just ended: "For the first time in the history of ElringKlinger we have seen sales move beyond the threshold of one billion euros. Growth within this area was achieved primarily under our own steam, but also with the help of three acquisitions. In doing so, we have reached new dimensions." In 2011, ElringKlinger recorded Group sales of EUR 1,032.8 (795.7) million. Earnings before interest and taxes (EBIT) rose to EUR 148.7 (106.7) million.

New appointment to Supervisory Board
After Dr. Helmut Lerchner had stepped down from his post as a member of the Supervisory Board at the end of the AGM on May 16, 2012 for reason of age, the company's shareholders elected Prof. Hans-Ulrich Sachs as a new member of the Supervisory Board, with 99.85% of the votes. Prof. Sachs (59) is the managing partner of BeTec GmbH, Adelmannsfelden, and Honorary Professor for Corporate Planning at Esslingen University of Applied Sciences. Over the course of his career, Prof. Sachs has held positions such as CEO of SG Holding AG, member of the board of management for the Volkswagen brand at Volkswagen AG and Management Board member of DEKRA AG.

The other items on the agenda were also approved with large majorities by the shareholders of ElringKlinger. The actions of the Management Board and the Supervisory Board were ratified with 99.99% and 98.20% of the votes respectively. At the AGM, PricewaterhouseCoopers Aktiengesellschaft Wirtschaftsprüfungsgesellschaft, Stuttgart, was re-appointed as auditor for the fiscal year 2012. Furthermore, the company was granted the right to increase its share capital by up to EUR 31.7 million in the period up to 2017.

New Dimensions
As part of an exhibition organized in the foyer of the Cultural and Congress Center, ElringKlinger showcased its latest range of products aimed at optimizing the combustion engine as well as its most recent innovations within the field of e-mobility – under the heading "New Dimensions". Additionally, the automotive supplier presented the product portfolio of the Hug Group, an exhaust treatment specialist acquired in 2011. In acquiring the Hug Group, ElringKlinger has extended its business model to include the area of exhaust gas purification. Among the other key attractions at the event was a pure electric vehicle for which ElringKlinger supplies the cell contact systems used in the lithium-ion batteries. At the same time, the apprentices currently undergoing training at ElringKlinger AG showed that they too are keeping their fingers on the pulse of tomorrow's drive technology. They presented their very own model car powered by a fuel cell and battery.

Good start to 2012
After a successful start to 2012, Dr. Stefan Wolf is relatively confident as regards ElringKlinger's prospects for the remainder of the financial year, despite the difficult economic climate within the eurozone. In the first quarter of 2012, ElringKlinger again managed to outpace the market as a whole in terms of percentage growth in global vehicle production. Sales revenue increased by 16.1% to EUR 283.8 (244.5) million, while EBIT grew at a slightly more pronounced rate to EUR 37.3 (32.0) million.

The Group is targeting organic revenue growth of 5 to 7% for the 2012 fiscal year as a whole. An additional revenue contribution of around EUR 20 million is expected from the consolidation of recently acquired Hug Engineering AG, the Hummel-Formen Group and ThaWa GmbH, which in 2012 will be included in the scope of consolidation for a full annual period for the first time. Group EBIT adjusted for non-recurring items is expected to be in a range of EUR 145 to 150 million (EUR 126.0 million in fiscal 2011).

"Operating within three dimensions – 'optimization of the combustion engine', 'exhaust gas purification' and 'e-mobility' –, we are addressing key issues of relevance to our customers in the automotive industry and making an important contribution when it comes to reducing fuel consumption and scaling back emissions," said Wolf. "As an early mover within these areas, we are well positioned to generate sustained and profitable growth well into the future."

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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