DETTINGEN/ERMS, Germany (May 8, 2008) — ElringKlinger A.G. increased sales by 6.4 percent to $251 million in the first quarter of 2008, while profits improved a little faster, rising to $45 million from $41.6 million in the period.
ElringKlinger said this had been achieved despite slow markets in many of its key sales regions.
At $36.9 million, the firm invested significantly more in property, plant and equipment over the course of the first three months of 2008 than during the same period a year ago.
The main focus was on expansion of capacities and projects aimed at operational streamlining. The expansion of earnings and improvements to working capital contributed to a 50.4 percent increase in net cash from operating activities, which rose to $40.2 million.