GRAMMER
Q3 growth dwindles / Hopes rest on year-end spurt
German automotive supplier Grammer (Ursensollen; www.grammer.com) lost ground again in Q3 following promising result in the first half. It reported preliminary adjusted EBIT at EUR 11.5 mn, noticeably less than the EUR 14.2 mn achieved in the same period of the previous year. Special effects were said to only have had a minor impact on the figures.
 Passenger car seats outperformed those for commercial vehicles in the first half of the year (Photo: Grammer) |
Grammer said it was also unable to maintain its recent positive sales momentum, with revenues rising minimally to EUR 562 mn after a plus of more than 13% in the first six months of 2023. Including the third quarter, the growth rate shrank to just under 9%.
Adjusted EBIT for the first three quarters, reported at EUR 38.4 mn, was only around half of the EUR 70 mn target for the fiscal year. Nevertheless, CFO Jurate Keblyte stood by the goal and reiterated the sales forecast of EUR 2.2 bn as Grammer still expects a strong fourth quarter.
The company is scheduled to publish its full Q3 report on 30 October.
12.10.2023 Plasteurope.com [253771-0]
Published on 12.10.2023
German version of this article...