ElringKlinger AG Reports on 2024 Financial Challenges and Strategic Shift

ElringKlinger AG has announced its preliminary financial results for 2024, noting a drop in revenue to EUR 1,803 million from EUR 1,847 million in 2023. The company faced non-cash impairment losses totaling EUR 238 million, impacting the annual earnings significantly. Despite these challenges, ElringKlinger achieved a strong operating free cash flow of EUR 58.5 million, surpassing its 2023 performance of EUR 36.7 million, and reduced net financial liabilities to a 13-year low of EUR 250 million.

The automotive supplier is undergoing a strategic reorientation, focusing on profitable components and discontinuing loss-making activities, including its systems business for electric drive units. Furthermore, ElringKlinger plans to streamline operations by closing several sites. These actions are intended to unlock an earnings potential of EUR 10 million annually starting in 2026.

The company anticipates releasing the audited results and detailed 2025 outlook in its annual report on March 27, 2025.