17.02.2016
Grammer AG DE0005895403
DGAP-News: Grammer AG: Grammer's group revenue exceeds EUR 1.4 billion for the first time in fiscal year 2015
DGAP-News: Grammer AG / Key word(s): Preliminary Results
Grammer AG: Grammer's group revenue exceeds EUR 1.4 billion for the first
time in fiscal year 2015
17.02.2016 / 06:53
The issuer is solely responsible for the content of this announcement.
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Grammer's group revenue exceeds EUR 1.4 billion for the first time in
fiscal year 2015
Revenue increase of five percent to around EUR 1.43 billion
Group EBIT higher than adjusted forecast
Further growth and higher profitability expected in 2016
Amberg, February 17, 2016 - Grammer AG has today released its preliminary
figures for fiscal year 2015. With Group revenue of around EUR 1.425
billion, the leading supplier for passenger vehicle interior components and
commercial vehicle seating recorded a 4.5 percent increase over the
previous year (2014: 1.366). Accordingly, Grammer achieved a new revenue
record for the fifth consecutive time.
In particular, Grammer's Automotive Division, which supplies automotive
OEMs all around the world with center consoles, armrests and headrests,
repeated the dynamic performance of earlier years, benefiting from
generally strong conditions in the global automotive market and market
share gains in all regions. Division revenue rose by just under 11 percent
to more than EUR 1.0 billion (2014: 0.912). Order intake in the Automotive
Division also reached a new record last year, providing the basis for
continued dynamic growth in future years.
The persistent weakness of important core markets left distinct traces on
Grammer's other division, Seating Systems, which develops and produces
suspended seating systems for trucks, agricultural and construction
machinery as well as railway seats. Business performance was influenced by
another slump in the Brazilian market, the appreciable slowing of the
Chinese commercial vehicle market and contraction in the agricultural
sector. As expected, revenue in the Seating Systems Division dropped by
around 5 percent to around EUR 455 million (2014: 479).
Group EBIT just under EUR 43 million
According to the preliminary figures, the Grammer Group generated operating
earnings before interest and taxes (EBIT) of roughly EUR 42.6 million in
2015, thus slightly exceeding the forecast which had been revised in the
summer.
"Last year, Grammer additionally reinforced its global position in what in
some cases was a very challenging and volatile market environment,
completing a large number of expansion, optimization and serial projects.
With the acquisition of plastics and metal specialist Reum, we also
expanded our product and process expertise, something which will open up
additional growth potential for us," said Hartmut Müller, Chief Executive
Officer of Grammer AG.
Growth in Automotive and stabilization in Seating Systems in the fourth
quarter
At EUR 265 million in the fourth quarter of 2015, revenue in the Automotive
Division matched the previous year's figures (2014: 270). Despite the still
weak markets, revenue in the Seating Systems Division stabilized again for
the first time and, at EUR 115 million, was in fact slightly up on the
previous year (2014: 110). Total Group revenue came to EUR 370 million in
the fourth quarter, thus remaining on par with the previous year (2014:
372). Group EBIT in the fourth quarter stood at around EUR 13 million and,
as expected, also matched the previous year's high level (2014: 13.9).
Further growth accompanied by greater profitability expected in 2016
Grammer expects a continuation of the volatile and challenging market
conditions in 2016, particularly in the relevant commercial vehicle
markets. Even so, it is confident of being able to successfully address
these challenges thanks to its global footprint and further process
improvements.
Grammer projects a moderate sales development in the Seating Systems
Division compared with the previous year due to the continued weakness of
its core markets. However, it expects the Automotive Division to achieve
appreciable growth once again. Driven by the positive effects of last
year's numerous optimization measures and the resultant improvement in
profitability, Grammer expects higher contributions to earnings from both
divisions this year.
Grammer AG will be publishing its full annual report for 2015 on March 30,
2016.
Company Profile
Grammer AG, Amberg, Germany, specializes in the development and production
of components and systems for automotive interiors as well as driver and
passenger seats for utility and offroad vehicles. In the Automotive
Division, we supply headrests, armrests and center console systems to
premium automakers and automotive system suppliers. The Seating Systems
Division comprises the truck and offroad seat segments as well as train and
bus seats.
Grammer is represented in 20 countries worldwide with a workforce of over
12,000 employees across its 30 subsidiaries.
The Grammer share is listed in the SDAX and traded on the Frankfurt and
Munich stock exchanges via the electronic trading system Xetra as well as
in over-the-counter trading at the Stuttgart, Berlin and Hamburg stock
exchanges.
Contact:
GRAMMER AG
Ralf Hoppe
Phone: 0049 9621 66 2200
[email protected]
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17.02.2016 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.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Grammer AG
Postfach 14 54
92204 Amberg
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
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Munich;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Stuttgart
End of News DGAP News Service
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