DETTINGEN AN DER ERMS (dpa-AFX) - Car parts manufacturer ElringKlinger Group (EGKLF.PK) reported Tuesday that its fourth-quarter earnings before interest and tax or EBIT climbed 46.6 percent to 38.4 million euros from 26.2 million euros last year.
EBIT before purchase price allocation was 39.5 million euros, up 43.6 percent from 27.5 million euros a year ago.
Sales revenue for the quarter increased 4.4 percent to 407.2 million euros from 390 million euros last year. Organically, revenues increased 5.1%.
Stefan Wolf, CEO of ElringKlinger, said, 'After three relatively weak quarters when compared to others, annual earnings were boosted by a particularly solid performance in the fourth quarter. This was attributable to a number of factors, including favorable market conditions, the sale of real estate by the company, and first and foremost the steady improvement in earnings at the Swiss subsidiary.'
ElringKlinger said it will publish its full and definitive results for the 2016 financial year on March 30, 2017, together with its outlook for 2017.
Copyright RTT News/dpa-AFX