DGAP-News

Grammer AG: Grammer starting 2017 with a substantial increase in revenue and higher profitability

DGAP-News: Grammer AG / Key word(s): Miscellaneous Grammer AG: Grammer starting 2017 with a substantial increase in revenue and higher profitability 27.04.2017 / 16:49 The issuer is solely responsible for the content of this announcement. Grammer starting 2017 with a substantial increase in revenue and higher profitability

- Further very successful business performance in the first quarter of 2017

- 7.5 percent increase in revenue to EUR 458.0 million

- Substantial 52.0 percent increase in EBIT to EUR 22.5 million, accompanied by a further improvement in the EBIT margin to 4.9 percent

- Operative EBIT margin reached 5.0 percent

- Full-year operating outlook for 2017 confirmed despite protracted uncertainty over future business performance due to proposed change-of-control

Amberg, April 27, 2017 - The Grammer Group, a leading international supplier of passenger vehicle interior components and seats for commercial vehicles, continued its extremely favorable performance in the first quarter of 2017. According to provisional figures, Group revenue rose by 7.5 percent in the first three months of 2017 to EUR 458.0 million (Q1 2016: 425.9) and was thus substantially up on the previous year. The successful start to 2017 is also reflected in the EBIT of EUR 22.5 million (Q1 2016: 14.8), which exceeded the previous year by 52.0 percent. This was accompanied by a 1.4 %-points higher EBIT margin of 4.9 percent (Q1 2016: 3.5). This sharp increase in earnings was particularly underpinned by the ongoing and effective measures aimed at optimizing fixed costs and process structures. At 5.0 percent, the operating EBIT margin (adjusted for currency-translation effects) has already reached the full-year target for 2017 and thus matches our expectations of a further sustained increase in enterprise value.