GRAMMER Aktiengesellschaft
GRAMMER Aktiengesellschaft: Preliminary results for the third quarter of 2020: Quality of operating profit significantly improved in the third quarter, planned restructuring measures have a negative impact on earnings
GRAMMER Aktiengesellschaft / Key word(s): Preliminary Results Publication of inside information in accordance with Article 17 of Regulation (EU) No. 596/2014 Earnings before interest and taxes (EBIT) are impacted by exceptional effects in particular related to restructuring measures of around 12 million euros and are expected to amount to roughly 6 million euros (2019: 11.7 million euros). Adjusted for the exceptional effects, operating earnings before interest and taxes (operating EBIT) should reach around 22 million euros in the third quarter, thus substantially exceeding the figure for the same period in the previous year (2019: 9.1 million euros). Among other things, the restructuring measures include the consolidation of sites in Europe and North America, as well as a reduction in indirect headcount with a focus on Germany, which is to be implemented by mid-2021 with the least possible social hardship. The quarterly statement for the third quarter of 2020 will be published on October 29, 2020. Grammer AG Contact: GRAMMER Aktiengesellschaft Tanja Bücherl Phone: 0049 9621 66 2113 investor-relations@grammer.com
09-Oct-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | GRAMMER Aktiengesellschaft |
Grammer-Allee 2 | |
92289 Ursensollen | |
Germany | |
Phone: | +49 (0)9621 66-0 |
Fax: | +49 (0)9621 66-31000 |
E-mail: | investor-relations@grammer.com |
Internet: | www.grammer.com |
ISIN: | DE0005895403, DE0005895403 |
WKN: | 589540, 589540 |
Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange |
EQS News ID: | 1139916 |
End of Announcement | DGAP News Service |