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Grammer continuing strong revenue growth with higher profitability - Seite 2
in the third quarter (2015: EUR 3.1 million).
Increase of almost 30 percent in revenue in the Automotive Division
accompanied by a substantial improvement in profitability
The Automotive Division posted revenue of EUR 941.1 million in the first
nine months (2015: EUR 740.9 million), marking an increase of almost 30
percent. This positive business performance was due to further serial
launches in all regions, our customers' continued favorable performance
particularly in the premium segment and the first-time consolidation of the
former REUM Group. Despite the negative currency-translation effects, EBIT
in the Automotive Division climbed by 62.3 percent to EUR 28.4 million
(2015: EUR 17.5 million). The EBIT margin in the division came to 3.0
percent (2015: 2.4 percent).
In the third quarter as well, revenue in this division rose very
substantially over the previous year by almost 25 percent to EUR 306.1
million (2015: EUR 246.0 million). Earnings before interest and taxes
(EBIT) came to EUR 7.7 million and were thus 148 percent up on the same
quarter in the previous year.
Higher revenue and higher EBIT margin in Seating Systems Division despite
persistent market weakness
Revenue in the Seating Systems Division climbed by 5 percent to EUR 360.6
million in the first nine months (2015: EUR 343.4 million). A further slump
in the Brazilian market and sustained muted demand for agricultural
machinery in the United States were more than compensated by growth in
Europe and Asia. Division EBIT rose from EUR 19.5 million to EUR 28.4
million in the first nine months, while the EBIT margin widened
substantially to 7.9 percent (2015: 5.7 percent).
In view of the usual seasonal effects, revenue came to EUR 110.1 million in
the third quarter and was thus in line with the previous year (2015: EUR
110.3 million). Despite this, EBIT increased very sharply to EUR 8.4
million (2015: EUR 3.5 million). At the same time, the EBIT margin rose to
7.6 percent in the third quarter (previous year 3.2 percent).
Increased capital expenditure for expanding global business activities
At EUR 34.1 million on September 30, 2016, capital expenditure was up on
the previous year (2015: EUR 25.0 million) and was primarily used to expand
and optimize business activities in all regions around the world. A further
reason for the higher capital expenditure was the consolidation of the
former REUM Group.
Full-year guidance for 2016 confirmed
The Grammer Group expects to continue performing very well in the remaining
months of the year, although the difficult and volatile economic conditions
in some regions are still leaving traces.
persistent market weakness
Revenue in the Seating Systems Division climbed by 5 percent to EUR 360.6
million in the first nine months (2015: EUR 343.4 million). A further slump
in the Brazilian market and sustained muted demand for agricultural
machinery in the United States were more than compensated by growth in
Europe and Asia. Division EBIT rose from EUR 19.5 million to EUR 28.4
million in the first nine months, while the EBIT margin widened
substantially to 7.9 percent (2015: 5.7 percent).
In view of the usual seasonal effects, revenue came to EUR 110.1 million in
the third quarter and was thus in line with the previous year (2015: EUR
110.3 million). Despite this, EBIT increased very sharply to EUR 8.4
million (2015: EUR 3.5 million). At the same time, the EBIT margin rose to
7.6 percent in the third quarter (previous year 3.2 percent).
Increased capital expenditure for expanding global business activities
At EUR 34.1 million on September 30, 2016, capital expenditure was up on
the previous year (2015: EUR 25.0 million) and was primarily used to expand
and optimize business activities in all regions around the world. A further
reason for the higher capital expenditure was the consolidation of the
former REUM Group.
Full-year guidance for 2016 confirmed
The Grammer Group expects to continue performing very well in the remaining
months of the year, although the difficult and volatile economic conditions
in some regions are still leaving traces.
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