DGAP-News

Grammer AG: Grammer Group entering 2015 with increased revenue and profit

DGAP-News: Grammer AG / Key word(s): Quarter Results
Grammer AG: Grammer Group entering 2015 with increased revenue and
profit

06.05.2015 / 06:58

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Grammer Group entering 2015 with increased revenue and profit

6.6 percent increase in quarterly revenue to EUR 352.7 million

Operating profit (EBIT) of 16.5 million and net profit of EUR 9.8 million
up on the previous year

CFO Volker Walprecht to leave the Company at the end of the Annual General
Meeting on May 20, 2015

Mr. Gérard Cordonnier appointed new CFO of Grammer AG by the Supervisory
Board effective June 1, 2015

Amberg, May 6, 2015 - Grammer AG, global supplier of components for
automotive interiors and leading producer of seating systems for commercial
vehicles, completed the first quarter of 2015 on a successful note with a
substantial 6.6 percent increase in revenue to EUR 352.7 million (2014:
330.8). The increased revenue was generated in full by the Automotive
Division in the period under review due to a large number of new projects,
the continued strong state of the automotive sector and positive
currency-translation effects. As expected, the Division Seating Systems
reported lower revenue due to weak conditions in key individual markets.
Despite this contraction in the Seating Systems Division, which achieves
higher margins, and the continued heavy up-front costs for global
production expansion and optimization, operating profit (EBIT) came to EUR
16.5 million, an increase of 11.5 percent over the same quarter in the
previous year (2014: 14.8). In addition to the aforementioned factors,
earnings were also supported by positive currency-translation effects. The
EBIT margin increased to 4.7 percent (2014: 4.5). Net profit also rose
encouragingly to EUR 9.8 million in the first quarter of 2015 (2014: 8.5).

Automotive: Strong growth driven by new projects and upbeat automotive
sector
The Automotive Division remained on the previous year's dynamic trajectory,
achieving a substantial 17.0 percent increase in revenue to EUR 245.3
million (2014: 209.6). Revenue from consoles and armrests in particular was
above average, with headrest business also growing significantly in the
first quarter. Grammer grew in all three regions in which it is active: In
the largest region addressed by the Automotive Division, EMEA (Europe,
Middle East and Africa), business expanded by 7.8 percent, with the Group