DETTINGEN/ERMS (dpa-AFX) - Swabian automotive supplier ElringKlinger has closed the past financial year with record sales despite global challenges. Based on preliminary figures, the company announced on Wednesday in Dettingen an der Erms (Reutlingen district) that revenue had risen by 2.7 percent year on year to around EUR 1.85 billion. Turnover has thus reached a new high.

Weaker demand in the series production business and unfavorable exchange rates slowed down sales development in the second half of the year. Earnings before interest and taxes adjusted for special items (adjusted EBIT) were nevertheless almost a third higher than in the previous year at a good 100 million euros.

The manufacturer of seals, fuel cells and spare parts considers itself well equipped for the transformation - also because its net financial liabilities fell by 41 million to 323.2 million euros, according to the press release. ElringKlinger plans to publish its full annual figures and targets for 2024 on March 27 /bak/DP/stw