DETTINGEN AN DER ERMS (dpa-AFX) - ElringKlinger AG (EGKLF.PK) reported that its third-quarter net income, after non-controlling interests, declined to 6.7 million euros from 10.8 million euros, prior year. Earnings per share was 0.11 euros compared to 0.17 euros. Earnings before interest and taxes (EBIT) and before purchase price allocation amounted to 20.8 million euros, compared to 23.8 million euros, prior year.
Third-quarter revenue increased by 6.4 percent to 431.9 million euros. Organic revenue growth was at 4.0 percent. Order intake was at 437.6 million euros, an increase of 6.3 percent. Adjusted for currency effects, the increase was 0.8 percent.
The Group continues to expect to achieve its target of an EBIT margin before purchase price allocation of around 4 percent to 5 percent for 2019. The Group remains confident that it can outpace the expansion in global automobile production by 2 to 4 percentage points in terms of organic revenue growth. Assuming persistently strong demand in the NAFTA region, revenue growth may also be slightly higher, the company noted.
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