DETTINGEN AN DER ERMS (dpa-AFX) - German car spare parts manufacturer Elringklinger Ag (EGKLF.PK) reported Monday that its fiscal 2019 net income attributable to shareholders plunged to 4.1 million euros from last year's 43.8 million euros. Earnings per share were down sharply to 0.06 euro from 0.69 euro last year.
Earnings before taxes fell to 41.7 million euros from last year's 81.4 million euros. EBIT before purchase price allocation amounted to 63.2 million euros, compared to 100.2 million euros last year.
Revenue, however, grew 1.6 percent to 1.73 billion euros from 1.70 billion euros last year.
Looking ahead for fiscal 2020, the company said it is temporarily refraining from issuing specific revenue and earnings guidance due to the coronavirus or Covid-19 pandemic.
The company noted that even without current developments relating to the coronavirus pandemic, 2020 had been expected to be a challenging year due to the general slowdown in the economy. The duration of plant closures by automobile manufacturers cannot be predicted at present.
The company also suspended its dividend for the 2019 financial year.
Copyright RTT News/dpa-AFX