Dettingen/Erms (dpa/lsw) - Special effects pushed the result of the automotive supplier ElringKlinger significantly into the red in the second quarter. Earnings before interest and taxes (EBIT) were minus 97.1 million euros, after a plus of 23 million euros in the same quarter of the previous year, as the company announced on Thursday in Dettingen/Erms (Reutlingen district).
Lockdown measures in China, disrupted supply chains and high raw material, energy and logistics costs had an impact on the result, the statement said. The company also cited one-time special effects. Because of the rising interest rates, the group wrote off 86.1 million euros. In addition, there would be an impairment of property, plant and equipment of EUR 9.3 million.
Adjusted for depreciation, the operating result before interest and taxes in the second quarter was minus 1.6 million euros. The bottom line was a loss of 94.1 million euros. Sales, on the other hand, developed positively, rising by 9.4 percent to EUR 430.6 million compared to the same quarter of the previous year. Order intake also increased by 5.5 percent. According to the company, the order backlog was at a record value of over 1.5 billion euros.
"The difficult economic conditions make for a challenging market environment," said CEO Stefan Wolf according to the announcement. Nevertheless, the company is very well positioned. The group expected sales growth for the year as a whole. With a view to the result, the risks are still high and the imponderables great.
