Elringklinger eyes continuing sales, profit growth -magazine

BERLIN, July 6 Sat Jul 6, 2013 7:02am EDT

BERLIN, July 6 (Reuters) - German automotive supplier ElringKlinger is targeting continuing sales and profit growth this year, benefiting strongly from improving car markets in the United States, Wirtschaftswoche reported on Saturday, citing chief executive Stefan Wolf.

Company sales may increase between 5 and 7 percent to almost 1.2 billion euros ($1.54 billion), the magazine quoted Wolf as saying. Earnings before interest and tax may grow "disproportionately" to between 150 and 155 million euros, the CEO said.

Growth in the U.S. and China, the world's two biggest auto markets helps vehicle manufacturers offset plunging business in Europe where the car market is nearing a two-decade low after five years of contraction. ($1 = 0.7792 euros) (Reporting by Andreas Cremer; edting by James Jukwey)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.