DETTINGEN AN DER ERMS (dpa-AFX) - ElringKlinger AG (EGKLF.PK), a German car spare parts maker, on Tuesday reported a rise in earnings for the first-quarter, amidst an increase in revenue.
For the three-month period, the spare parts company reported a net income of 6.7 million euros or 0.11 euro per share, compared with 4 million euros or 0.06 euro per share, recorded for the same period of previous year.
Pre-tax income was at 16.6 million euros as against previous year's 10.9 million euros.
EBIT moved up to 26 million euros from 14.1 million euros of 2022. Adjusted EBIT stood at 26.4 million euros, compared with 15 million euros of last year quarter.
EBITDA rose to 53.6 million euros from 42.8 million euros of previous year period.
The company generated revenue of 487.7 million euros, higher than 434.6 million euros of 2022.
Looking ahead, for full year 2023, ElringKlinger still expects a further improvement in its earnings, supported by an anticipated increase in revenue. Overall, the Group is forecasting adjusted EBIT of around 5 percent of its revenue for 2023.
For the medium term, the Group continues to expect its adjusted EBIT margin to improve gradually.
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