Grammer AG
- WKN: 589540
- ISIN: DE0005895403
- Land: Deutschland
Nachricht vom 13.08.2019 | 06:58
Grammer AG asserting itself in a challenging automotive environment: substantial growth in Group revenue and EBIT
DGAP-News: Grammer AG / Key word(s): Half Year Results Grammer AG asserting itself in a challenging automotive environment: substantial growth in Group revenue and EBIT
- Strong rise of 13.4 percent in revenue to over EUR 1.0 billion in the first half of 2019 - Revenue from TMD more than compensated for the muted business as a result of challenging market conditions in the traditional Automotive Division - Positive development in all regions in the Commercial Vehicles Division - Half-year EBIT of EUR 50.2 million substantially up on the previous year - New Executive Board lineup now complete: Thorsten Seehars appointed CEO and Jurate Keblyte CFO
Group earnings before interest and taxes (EBIT) were also well up on the previous year, climbing by 19.8 percent to EUR 50.2 million (2018: EUR 41.9 million). The EBIT margin widened to 4.8 percent (2018: 4.5 percent) despite the strain coming from the cost of integrating the TMD Group. Adjusted for currency translation and exceptional effects, operating EBIT climbed by a 15.7 percent to EUR 50.1 million (2018: EUR 43.3 million). Like the Group EBIT margin, the operating EBIT margin came to 4.8 percent (2018: 4.7 percent). Group net profit increased by 9.5 percent over the previous year to EUR 27.6 million (2018: EUR 25.2 million). The Commercial Vehicles Division continued to perform well in the first six months of the year, with sales growth in important core markets producing an increase of 7.8 percent in revenue to EUR 332.2 million (2018: EUR 308.3 million). Division EBIT also widened slightly by 4.2 percent to EUR 32.5 million (2018: EUR 31.2 million) in tandem with an EBIT margin of 9.8 percent, which was virtually unchanged over the previous year (2018: 10.1 percent). Revenue doubled in the Americas, persistently difficult market situation exerting strain on revenue in Europe Construction of new technology center together with new accounting standards resulting in higher capital expenditure in 2019
Group revenue is expected to reach around EUR 2.1 billion in 2019, underpinned by the additional revenue from the acquisition of the TMD Group and growth in the Commercial Vehicles Division. Correspondingly good absolute EBIT are expected for 2019 which will be clearly higher than in 2018 (EUR 48.7 million). The Grammer Group's full interim report on the first half of 2019 is available from the corporate website at the following link: Company profile Located in Amberg, Germany, Grammer AG specializes in the development and production of components and systems for automotive interiors as well as suspended driver and passenger seats for onroad and offroad vehicles.
Contact: GRAMMER AG Boris Mutius Phone: 0049 9621 66 2200 investor-relations@grammer.com
13.08.2019 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 |
Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange |
EQS News ID: | 856397 |
End of News | DGAP News Service |
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