DGAP-News: Euler Hermes reaffirms Grammer AG's investment-grade rating
DGAP-News: Grammer AG / Key word(s): Rating
Euler Hermes reaffirms Grammer AG's investment-grade rating
26.06.2019 / 11:49
The issuer is solely responsible for the content of this announcement.
Euler Hermes reaffirms Grammer AG's investment-grade rating
Amberg, June 26, 2019 - Euler Hermes Rating GmbH has confirmed its investment grade rating for Grammer AG in its latest report. However, the rating has been lowered from BBB to BBB-. The main reason for this was the higher debt levels following the acquisition of Toledo Modling & Die. Inc. and the mounting market challenges facing the Automotive Division. Euler Hermes expects the rating to remain stable over the next 12 months thanks to the good order books of GRAMMER AG.
Grammer AG's current rating also reflects its solid funding as well as the resulting high financial flexibility.
Euler Hermes also highlights the Grammer Group's strong global footprint comprising development and production capacities in the main regions around the world. In addition, the Group's technology and quality leadership in the core segments is viewed as a strategic advantage in the light of relevant trends such as autonomous driving, mobility concepts, digitization and the increasing electrification of vehicles.
It projects moderate medium to long-term global growth in sales of passenger and commercial vehicles, from which Grammer stands to benefit as a supplier of components.
The rating agency considers the Company's diversification across various products, customers and regions to constitute a further strength.
Euler Hermes Rating sees the acquisition of Toledo Molding & Die, Inc. as improving Grammer's diversification profile and strengthening its access to the NAFTA market.
In summary, the rating agency still considers the business risk to which Grammer AG is exposed to be slightly elevated. In the opinion of the analysts, the financial risk is moderate, although earnings potential and profitability weakened in 2018 due to WLTP-related declines in revenue and acquisition expenses. In addition, Grammer AG has good structures, processes and systems for addressing operational risks.
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.
In the Automotive Division, we supply headrests, armrests, center console systems, high-quality interior components, operating systems and innovative thermo-plastic solutions to premium automakers and automotive system suppliers.
The Commercial Vehicles Division comprises seats for the truck and offroad seat segments (tractors, construction machinery, forklifts) as well as train and bus seats.
With round about 15,000 employees, Grammer operates in 19 countries around the world. Grammer shares are listed in the Prime Standard and traded on the Frankfurt and Munich stock exchanges via the electronic trading system Xetra.
Contact:
GRAMMER AG
Boris Mutius
Phone: 0049 9621 66 2886
[email protected]
26.06.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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Language: |
English |
Company: |
Grammer AG |
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Georg-Grammer-Str. 2 |
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92224 Amberg |
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Germany |
Phone: |
+49 (0)9621 66-0 |
Fax: |
+49 (0)9621 66-1000 |
E-mail: |
[email protected] |
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: |
831349 |
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End of News |
DGAP News Service |
831349 26.06.2019
Die wichtigsten Finanzdaten auf einen Blick
|
|
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023e |
Umsatzerlöse1 |
1.786,47 |
1.861,29 |
2.038,51 |
1.710,71 |
1.903,01 |
2.158,79 |
2.304,89 |
EBITDA1,2 |
116,00 |
101,00 |
159,80 |
41,70 |
103,08 |
117,44 |
123,78 |
EBITDA-Marge3 |
6,49 |
5,43 |
7,84 |
2,44 |
5,42 |
5,44 |
|
EBIT1,4 |
66,47 |
48,74 |
74,54 |
-46,13 |
18,86 |
-44,98 |
42,01 |
EBIT-Marge5 |
3,72 |
2,62 |
3,66 |
-2,70 |
0,99 |
-2,08 |
1,82 |
Jahresüberschuss1 |
32,35 |
23,21 |
43,48 |
-64,71 |
0,65 |
-78,56 |
3,41 |
Netto-Marge6 |
1,81 |
1,25 |
2,13 |
-3,78 |
0,03 |
-3,64 |
0,15 |
Cashflow1,7 |
69,25 |
143,57 |
123,97 |
31,06 |
71,28 |
106,72 |
132,41 |
Ergebnis je Aktie8 |
2,67 |
1,90 |
3,56 |
-5,10 |
0,08 |
-5,26 |
0,12 |
Dividende8 |
1,25 |
0,75 |
0,00 |
0,00 |
0,00 |
0,00 |
1,30 |
Quelle: boersengefluester.de und Firmenangaben
Geschäftsbericht 2023 - Kostenfrei herunterladen.
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de
Wirtschaftsprüfer: Ernst & Young
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INVESTOR-INFORMATIONEN |
©boersengefluester.de |
Grammer |
WKN |
Kurs in € |
Einschätzung |
Börsenwert in Mio. € |
589540 |
10,400 |
Kaufen |
158,47 |
KGV 2025e |
KGV 10Y-Ø |
BGFL-Ratio |
Shiller-KGV |
9,72 |
14,05 |
0,73 |
20,47 |
KBV |
KCV |
KUV |
EV/EBITDA |
0,60 |
1,20 |
0,07 |
4,52 |
Dividende '22 in € |
Dividende '23e in € |
Div.-Rendite '23e in % |
Hauptversammlung |
0,00 |
0,00 |
0,00 |
04.06.2024 |
Q1-Zahlen |
Q2-Zahlen |
Q3-Zahlen |
Bilanz-PK |
29.04.2024 |
14.08.2024 |
29.10.2024 |
28.03.2024 |
Abstand 60Tage-Linie |
Abstand 200Tage-Linie |
Performance YtD |
Performance 52 Wochen |
3,59% |
-11,50% |
-4,59% |
-35,40% |
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