ElringKlinger has announced a 15% increase in income in 2005, and a 3.3% increase in sales revenues, thanks to growth in the diesel market and increased business in Asia.
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Group sales revenues increased by 3.3% to EUR474.6m (EUR459.5m in 2004). Asian revenues increased by 14.9% to EUR42.4m (EUR36.9m in 2004).
The company said in a statement that further increase in raw materials and energy prices created a burden in 2005. The group’s cost of sales increased by 4.3% to EUR318.0m. operating earnings increased by 3.7% to EUR75m.
Consolidated net income increased by 15.3% from EUR40.4m in the prior year to EUR46.6m.
The order backlog in the original equipment segment at year-end 2005 amounted to EUR177.7m, up 9.2% on a year earlier. Order intakes for the first two months of the year exceed last year’s level by more than 10%. As a result the company is forecasting sales growth of the year of 5-7%. Consolidated net income is expected to grow by 10 to 12%.
The company also announced that its management board spokesman, Stefan Wolf was appointed chairman on 28 March.
