DGAP-News: Grammer AG / Key word(s): Final Results
Grammer successful in 2017 with record revenue and improved profitability
- Growth in revenue to a new record of EUR 1.79 billion
- 18 percent increase in Group operating EBIT to EUR 80.2 million
- Dividend of EUR 1.25 per share proposed despite exceptional expenses in 2017
- Forecast for 2018: Further growth in revenue and profitability
Amberg, March 21, 2018 - The Grammer Group's business performance faced major challenges in 2017. This made it all the more remarkable that the leading international supplier of components for passenger vehicle interiors and seats for commercial vehicles was able to post further growth in revenue as well as in operating profitability over the previous year. According to the annual financial statements published today, the Grammer Group generated revenue of EUR 1.787 billion (2016: 1.696), equivalent to an increase of 5.4 percent. This top-line growth was particularly underpinned by gains in the Americas and APAC regions thanks to Grammer's good position in these markets. This confirms the preliminary figures already announced in February.
Further improvement in profitability
Strong growth in the Commercial Vehicles Division
Improved revenue and earnings in the Automotive Division
Encouraging revenue growth in all regions
The highest growth rates were registered in the Americas region (North, South and Central America). After coming to 1.2 percent in 2016, growth picked up substantially to 13.8 percent in 2017, underpinned by the favorable economic environment in the NAFTA region as well as new automotive product launches at the new plants in Tupelo, United States, as well as the plants in Mexico. This was joined by the economic recovery in Brazil.
Revenue in APAC grew at a similar rate, rising by 11.9 percent to EUR 280.9 million (2016: 251.0). The main growth driver in this region was the Commercial Vehicles Division with growth of 54.9 percent. At the same time, the joint venture in China with truck OEM Shaanxi exceeded expectations and the truck business gained substantial market share.
"In the business year 2017 we achieved further substantial growth globally, while at the same time improving operating profitability significantly despite the special circumstances prevailing last year. This clearly shows that we have successfully implemented our strategic measures for achieving greater growth and profitability over the last few years," says Hartmut Müller, CEO of Grammer AG. "Looking forward, we will continue to pursue this successful course. In addition, we want to give our shareholders a share of our success this year once again. For this reason, we will be proposing an almost unchanged dividend of EUR 1.25 per share at the annual general meeting on June 13, 2018. We want to make sure that the exceptional expense arising last year is not passed onto the shareholders."
Development of IFRS EBIT
Outlook: Further growth of revenues and profitability
With 13,000 employees, Grammer operates in 19 countries around the world.
Grammer shares are listed in the SDAX and traded on the Frankfurt and Munich stock exchanges via the electronic trading system Xetra.
Phone: 0049 9621 66 2200
21.03.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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