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DGAP-News: ElringKlinger AGM approves dividend of 50 cents per share - Broad approval for all items on the agenda

May 16, 2014

DGAP-News: ElringKlinger AG / Key word(s): AGM/EGM ElringKlinger AGM approves dividend of 50 cents per share - Broad approval for all items on the agenda 16.05.2014 / 13:49 --------------------------------------------------------------------- Stuttgart, Dettingen/Erms (Germany), May, 16, 2014 +++ MDAX-listed ElringKlinger AG will pay a regular dividend of EUR 0.50 (0.45) per share for the financial year 2013. The Annual General Meeting (AGM) elected Gabriele Sons, Management Board member of ThyssenKrupp Elevator AG, onto the Supervisory Board of ElringKlinger AG. Additionally, the AGM approved the actions of both the Management Board and the Supervisory Board of ElringKlinger AG by large majorities. Addressing an audience of around 550 shareholders and guests attending the AGM at the Liederhalle Cultural and Congress Center in Stuttgart, CEO Dr. Stefan Wolf looked back on what was a satisfactory financial year 2013: "Despite difficult market conditions and the negative foreign exchange effects associated with a strong euro, we managed to set new records with regard to revenue and earnings. The ElringKlinger Group succeeded in expanding revenue by 4.3% to EUR 1,175.2 (1,127.2) million, thus outpacing the global car markets in terms of percentage growth. At the same time, growth generated at Group level was profitable." Earnings before interest and taxes (EBIT) rose to EUR 160.4 (135.8) million. This figure included non-recurring income of EUR 17.6 million from the assumption of control over the Japanese joint venture ElringKlinger Marusan Corporation. Eliminating this non-recurring item, profit after taxes and non-controlling interests (profit attributable to the shareholders of ElringKlinger AG) totaled EUR 92.7 (85.7) million, up 8.2%. Shareholders supported the proposal put forward by the Management Board and Supervisory Board and passed a resolution, with 99.99% in favor, to increase the regular dividend to EUR 0.50 (0.45) per share. Participating in the company's success, company shareholders will thus receive a dividend payout of EUR 31.7 (28.5) million in total, which represents a year-on-year increase of 11.2%. Calculated on the basis of applicable net income of ElringKlinger AG, amounting to EUR 60.2 (56.5) million, the dividend ratio for the financial year 2013 is 52.7% (50.4%). Broad approval for all items on the agenda - Gabriele Sons elected onto the Supervisory Board As a replacement to Dr. Thomas Klinger-Lohr, who stepped down from the Supervisory Board as of December 31, 2013, 99.54% of the AGM voted in favor of electing Gabriele Sons onto the Supervisory Board. She had already been appointed as a member of the Supervisory Board on a temporary basis by the District Court. Ms. Sons is a member of the Management Board of ThyssenKrupp Elevator AG. The shareholders of ElringKlinger also passed the other proposals put forward by the management by large majorities. The actions of the Management Board and the Supervisory Board were ratified with 99.60% and 98.74% of the votes respectively. Ernst & Young GmbH WirtschaftsprÜfungsgesellschaft, Stuttgart, was reappointed as the auditor for the financial year 2014. Beyond CO2 - Focusing on emissions reduction As part of a presentation in the foyer of the Cultural and Congress Center, shareholders and guests were given an insight into the extensive range of products engineered by the ElringKlinger Group for automotive applications of the future. The exhibition included a number of new products centered around emissions reduction in combustion engines, including diesel particulate filters for locomotives and ships from the Exhaust Gas Purification division. Visitors also showed a keen interest in new developments within the E-Mobility division, which included a battery module on the basis of prismatic lithium-ion cells for material-handling equipment and a hydrogen-powered fuel cell stack with an output of 6 kW for use in range extenders. "Benefiting from our entry into the lightweight engineering market and supported by strong structural growth in the area of turbocharger gaskets, thermal shielding parts and exhaust gas purification technology, we are favorably positioned to pursue further profitable growth in the years to come, despite persistently large future-focused investments directed at the E-Mobility division," said Dr. Stefan Wolf, CEO of ElringKlinger AG, in his address to the company's shareholders. "ElringKlinger AG shareholders will continue to profit from this performance," said Wolf. Further revenue and earnings growth expected for 2014 as a whole The company confirmed its forecast for the current annual period. For 2014, ElringKlinger anticipates that production output in the global car market will expand by 2 to 3%. Against this backdrop, the ElringKlinger Group has forecast that - on the back of revenue totaling EUR 1,175.2 million in the 2013 financial year - its revenue will grow by 5 to 7% organically in 2014, thus outpacing the market as a whole in terms of percentage growth. The full consolidation of ElringKlinger Marusan Corporation will additionally contribute around EUR 25 million to Group revenue. Adjusted for non-recurring items, EBIT (= operating result) is to rise to a level of EUR 160 to 165 (149.2) million. Contact: For further information, please contact: ElringKlinger AG - Investor Relations/Corporate PR Stephan Haas Max-Eyth-Straße 2 72581 Dettingen/Erms Tel.: +49 (0)7123-724-137 E-Mail: stephan.haas@elringklinger.com End of Corporate News --------------------------------------------------------------------- 16.05.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: ElringKlinger AG Max-Eyth-Straße 2 72581 Dettingen/Erms Germany Phone: 071 23 / 724-0 Fax: 071 23 / 724-9006 E-mail: stephan.haas@elringklinger.de Internet: www.elringklinger.de ISIN: DE0007856023 WKN: 785602 Indices: MDAX Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart; Freiverkehr in Berlin, DÜsseldorf, Hamburg, Hannover, MÜnchen End of News DGAP News-Service --------------------------------------------------------------------- 269034 16.05.2014


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Source: DGAP Corporate News


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