ElringKlinger records successful start to

Maintaining its solid momentum from the final quarter of 2016, ElringKlinger AG recorded a significant increase in sales in the first quarter of 2017.

• Revenue up by 12.5% in first quarter; organic growth of 10.
• EBIT margin before purchase price allocation rises to 9.0%; EBIT before purchase price allocation increases by 22% to EUR 39.1 million
• Cash flow includes payments for acquisition of equity stake in hofer Group
• Guidance for 2017 confirmed

Dettingen/Erms (Germany), May 9, 2017 +++ Maintaining its solid momentum from the final quarter of 2016, ElringKlinger AG recorded a significant increase in sales in the first quarter of 2017. Compared with the first quarter of 2016, the Group managed to lift sales revenue by 12.5% or EUR 48.1 million, taking the figure to EUR 433.3 (385.2) million. Chief Executive Officer Dr. Stefan Wolf said: "ElringKlinger made significant ground in all segments and regions during the first quarter. In addition to benefiting from a larger number of working days, we received fresh impetus from the positive direction taken by the global automotive markets and from the introduction of several new products. Based on this quarterly performance, we are well on track when it comes to meeting our growth targets."

The Group's organic revenue growth of EUR 41.9 million or 10.9% was complemented by positive currency effects – primarily with regard to the Brazilian real, the Swiss franc, and the US dollar – equivalent to EUR 2.9 million or 0.7% as well as revenue contributions relating to changes to the scope of consolidation compared to the first quarter of 2016. Acquired entities added EUR 3.3 million, i.e., +0.9%, to revenue in total; hofer powertrain products GmbH (hpp), included as of February 6, 2017, for the first time, was among the contributors.