ElringKlinger Reports Solid Q3 2024 Results Amidst Challenges

ElringKlinger AG announced its Q3 2024 financial results, reporting solid performance despite a challenging economic environment. The company achieved a group revenue of EUR 441 million, down slightly from EUR 452 million in Q3 2023, but posted an organic revenue growth buoyed by favorable currency adjustments. Adjusted EBIT margin improved to 5.2% from 5.0% in the same quarter last year.

Notably, ElringKlinger managed to reduce net financial liabilities by 4.6% to EUR 350 million, while the net debt-to-EBITDA ratio was lowered to 1.7. The company also continued strategic divestments by selling two subsidiaries in Sevelen and Buford, expected to conclude by year-end.

Regionally, revenue growth was strongest in Germany, increasing by 10.6%, while North America saw a decline. Despite these mixed regional results, the group maintained a robust equity ratio of 44.0%. Investments in property and equipment rose slightly, impacting free cash flow negatively.