Brief: ElringKlinger Sees Non-Cash Impairment Losses of EUR 238 Mln, Closes Sites

ElringKlinger AG

27/02/2025 12:30

Feb 27 (Reuters) - ELRINGKLINGER AG ZILGn.DE:

PRELIMINARY, UNAUDITED RESULTS FOR 2024: REVENUE AT EUR 1,803 MILLION (2023: EUR 1,847 MILLION),

ORGANIC REVENUE AT EUR 1,831 MILLION

2024 FINANCIAL YEAR SEVERELY IMPACTED BY NON-RECURRING, NON-CASH IMPAIRMENT LOSSES OF EUR 238 MILLION

STRATEGIC REORIENTATION: FOCUS ON PROFITABLE BUSINESS AND DISCONTINUATION OF LOSS-MAKING ACTIVITIES

MANAGEMENT BOARD ANTICIPATES THAT THIS WILL UNLOCK ANNUAL EARNINGS POTENTIAL OF AROUND EUR 10 MILLION AS FROM 2026

IS DISCONTINUING ITS SYSTEMS BUSINESS FOR ELECTRIC DRIVE UNITS AND WILL FOCUS ON ITS PROFITABLE COMPONENTS BUSINESS

HAS RESOLVED TO EXAMINE STRATEGIC OPTIONS RELATING TO ITS INVESTMENT IN HOFER AG

GROUP IS REVIEWING ITS OTHER SHAREHOLDINGS AND WILL TAKE FURTHER STEPS IF NECESSARY

NET DEBT-TO-EBITDA RATIO STOOD AT 1.7

CUTTING NUMBER OF ITS SITES AND PLANS TO DISCONTINUE OPERATIONS AT ITS PLANT IN THALE, GERMANY, AND US SITE IN FREMONT, CA

Source text: ID:nEQbsNWSSa

Further company coverage: [ZILGn.DE]

 (Gdansk Newsroom)

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