GRAMMER AG: Earnings performance in the fourth quarter of 2023 significantly below the previous year's level - earnings forecast for the full year 2023 withdrawn
December 18, 2023 at 06:39 am EST
Share
EQS-Ad-hoc: GRAMMER Aktiengesellschaft / Key word(s): Profit Warning
GRAMMER AG: Earnings performance in the fourth quarter of 2023 significantly below the previous year's level - earnings forecast for the full year 2023 withdrawn
18-Dec-2023 / 12:37 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Release of inside information pursuant to Article 17 of Regulation (EU) No. 596/2014
GRAMMER AG (WKN 589540, ISIN DE0005895403)
GRAMMER AG: Earnings performance in the fourth quarter of 2023 significantly below the previous year's level - earnings forecast for the full year 2023 withdrawn
Operating EBIT for the year 2023 is expected to be significantly above the previous year's level (2022: EUR 35.5 million)
Ursensollen, December 18, 2023 - GRAMMER AG's earnings performance in the fourth quarter of 2023 is currently significantly below the previous year's level (operating EBIT Q4 2022: EUR 33.6 million). Accordingly, the full-year forecast for operating EBIT is not achievable from today's perspective (forecast operating EBIT 2023: around EUR 70 million). Overall, however, GRAMMER AG expects operating EBIT to be significantly above the previous year's level (2022: EUR 35.5 million). However, the forecast for Group revenue of around EUR 2.2 billion is likely to be achieved.
The Operating EBIT in the fourth quarter of 2023 will be burdened by higher costs due to volatile plant capacity utilization, currency losses and a continued sharp rise in personnel costs. In addition, the progress made as part of the efficiency and cost-cutting measures introduced, particularly in the AMERICAS, has not yet been achieved as planned.
As negotiations with customers on compensation to offset inflation-related cost increases are still pending, no new forecast for the full year 2023 can be provided at this time.
18-Dec-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com
Language:
English
Company:
GRAMMER Aktiengesellschaft
Grammer-Allee 2
92289 Ursensollen
Germany
Phone:
+49 (0)9621 66-0
Fax:
+49 (0)9621 66-31000
E-mail:
investor-relations@grammer.com
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
GRAMMER AG is a Germany-based company that is active in the automobiles and auto parts sector. The Company develops and manufactures components and systems for automobile interiors, as well as driver and passenger seats. It is organized into two business segments: Automotive and Seating Systems. The Automotive segment supplies headrests, armrests, and center consoles, and the Seating Systems segment provides driver seats for trucks and off-road vehicles, including tractors and agricultural machinery, construction machinery and fork-lifts, as well as driver and passenger seating solutions for trains, coaches and inter-urban buses. The Company operates approximately 40 product and distribution sites in Europe, North America, Latin America, Asia and Africa.
GRAMMER AG: Earnings performance in the fourth quarter of 2023 significantly below the previous year's level - earnings forecast for the full year 2023 withdrawn
GRAMMER AG 
