GRAMMER Aktiengesellschaft
Grammer AG: Grammer starting 2017 with a substantial increase in revenue and higher profitability
DGAP-News: Grammer AG / Key word(s): Miscellaneous Grammer starting 2017 with a substantial increase in revenue and higher profitability – Further very successful business performance in the first quarter of 2017 – 7.5 percent increase in revenue to EUR 458.0 million – Substantial 52.0 percent increase in EBIT to EUR 22.5 million, accompanied by a further improvement in the EBIT margin to 4.9 percent – Operative EBIT margin reached 5.0 percent – Full-year operating outlook for 2017 confirmed despite protracted uncertainty over future business performance due to proposed change-of-control
Both divisions contributed to the substantial increase in revenue and profitability. In the Automotive Division, revenue rose by 6.1 percent to EUR 335.5 million (Q1 2016: 316.1), with the Americas and Asia/Pacific (APAC) reporting substantially above-average growth. Revenue in the Commercial Vehicles Division (previously known as the Seating Systems Division) grew by 9.8 percent to EUR 134.0 million (Q1 2016: 122.0). Here, the truck segment in particular also posted slight growth again in Brazil and China. “We are pleased that 2017 continues where 2016 left off in terms of our very favorable business performance. As announced, we were particularly able to significantly boost the Grammer Group’s profitability. We want to continue this successful strategy in the interests of our employees, all shareholders and our customers,” said Hartmut Müller, Chief Executive Officer of Grammer AG. Concern over influence of the Hastor family placing a strain on new orders Favorable operating outlook for 2017 confirmed Against this backdrop, the Company expects full-year Group revenue to rise substantially by around five percent over the previous year in 2017. The Group operating EBIT margin should also be widening substantially to around five percent. This places the Grammer Group firmly in its target corridor for 2017 with a further sustained increase in revenue to over EUR 2.2 billion and an EBIT margin of around seven percent in 2021. Grammer AG will be publishing its interim report for the first quarter of 2017 on May 15, 2017. Grammer AG Annual General Meeting on May 24, 2017 Further information on the Annual General Meeting can be found on the Company’s website at: Company profile Located in Amberg, Germany, Grammer AG specializes in the development and production of components and systems for automotive interiors as well as suspension driver and passenger seats for onroad and offroad vehicles. In the Automotive Division, we supply headrests, armrests, center console systems and high-quality interior components and operating systems to premium automakers and automotive system suppliers. The Seating Systems Division comprises seats for the truck and offroad seat segments (tractors, construction machinery, forklifts) as well as train and bus seats. With over 12,000 employees, Grammer operates in 19 countries around the world. Grammer shares are listed in the SDAX and traded on the Frankfurt and Munich stock exchanges via the electronic trading system Xetra. Contact: GRAMMER AG Ralf Hoppe Phone: 0049 9621 66 2200 investor-relations@grammer.com
27.04.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Grammer AG |
Georg-Grammer-Str. 2 | |
92224 Amberg | |
Germany | |
Phone: | +49 (0)9621 66-0 |
Fax: | +49 (0)9621 66-1000 |
E-mail: | investor-relations@grammer.com |
Internet: | www.grammer.com |
ISIN: | DE0005895403, DE0005895403 |
WKN: | 589540, 589540 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |