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Dettingen / Erms (dpa / lsw) - Attractive business led to a leap in profits for the automotive supplier Elringklinger in the first quarter.
The bottom line is that the company increased its profit to 37.9 million euros after 2 million euros in the same period last year, as CEO Stefan Wolf announced on Thursday in Dettingen / Erms (Reutlingen district).
The positive development of the past quarters continued at the beginning of the year.
Sales increased by 7 percent to 424.1 million euros.
However, the group again pointed out that the uncertainties for the remainder of the year are still high. Wolf said that overall they have created a very good starting position for the rest of the year, which will remain challenging in view of the high level of raw material prices and ongoing tension in the supply chains. The company also reduced its debt. The liabilities fell by almost 203 to 400 million euros.
Earnings before interest and taxes (EBIT) tripled to 48.4 million euros in the first quarter.
Elringklinger justified the increase on the occasion of the publication of the preliminary figures in April with, among other things, the “consistently good spare parts business” and the “generally high level of sales”.
The result also includes a profit of almost 11 million euros from the sale of the Austrian subsidiary to the French partner Plastic Omnium.
The company also confirmed its forecast.
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© dpa-infocom, dpa: 210506-99-488905 / 2
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