GRAMMER AG publishes results for the first quarter of 2026

GRAMMER AG publishes results for the first quarter of 2026

• Revenue amounts to EUR 462.0 million (Q1 2025: EUR 487.4 million)
• EBIT rises by 21.4% to EUR 23.3 million with a significantly improved EBIT margin of 5.0% (Q1 2025: 3.9%)
• Operating EBIT is lower at EUR 18.3 million (Q1 2025: EUR 23.9 million) and was adjusted for positive currency effects of EUR 4.8 million (Q1 2025: negative currency effects of EUR 4.7 million)
• Revenue declined in the AMERICAS (–18.9%) and APAC (–4.8%) regions, while EMEA reported only a slight decrease (–1.7%) – revenue performance was significantly influenced by currency effects
• Revenue in the Commercial Vehicles segment rose by 2.1%, while Automotive saw a 9.3% year-over-year decline in revenue
• Outlook for FY 2026 remains unchanged: revenue of around EUR 1.9 billion with operating EBIT of around EUR 80 million
• Jens Öhlenschläger confirmed as CEO for the upcoming years

Ursensollen, April 29, 2026 – The GRAMMER Group today published its financials for the first quarter of 2026. These show that revenue declined by 5.2% to EUR 462.0 million in the reporting period (Q1 2025: EUR 487.4 million). Adjusted for currency effects, however, the revenue drop amounted to just –1.9%. At the regional level, the decline in revenue was particularly pronounced in the AMERICAS and APAC regions; in terms of product areas, Automotive saw a decline by 9.3% to EUR 284.8 million, while revenue in Commercial Vehicles increased by 2.1% to EUR 177.2 million.

Despite the decline in revenue, GRAMMER recorded a significant increase in EBIT to EUR 23.3 million in the first three months of 2026 (Q1 2025: EUR 19.2 million). The EBIT margin improved to 5.0% after 3.9% in last year’s reporting period. Operating EBIT fell by EUR 5.6 million to EUR 18.3 million. The Group’s operating EBIT in the first quarter of 2026 was impacted by a decline in revenues in the AMERICAS and APAC regions. In particular, the automotive business in China recorded a weaker performance mainly due to an unfavourable customer and product mix.

In addition, the GRAMMER Group’s EBIT included EUR 4.8 million in positive currency effects, which were adjusted for in operating EBIT. In contrast, negative currency effects of EUR 4.7 million were recorded in the first quarter of last year. The operating EBIT margin amounted to 4.0% and thus remained close to the full-year level of 2025 of 4.1% (Q1 2025: 4.9%).

Business development in the regions

In the EMEA region, GRAMMER generated revenue of EUR 280.5 million in the period from January to March 2026 (Q1 2025: EUR 285.2 million) – a slight decrease year-on-year of 1.7%. The decline is attributable to developments in the Automotive product area, where revenues fell by 3.6% to EUR 159.7 million due to the continued weak market performance. In the Commercial Vehicles area, in contrast, revenue rose by 1.1% to EUR 120.8 million. In particular, the area’s agriculture and construction equipment product segment made a positive contribution to revenue growth. Earnings performance in EMEA continued to show a positive trend. The cost reductions and restructuring measures from the “TOP 10” initiative are having a sustained effect here. As a result, operating EBIT rose from EUR 15.0 million to EUR 18.8 million. It was mainly adjusted for positive currency effects in the amount of EUR 0.9 million. The operating EBIT margin improved accordingly from 5.3% to 6.7%. At EUR 19.8 million, EBIT was also significantly higher than in the previous year (Q1 2025: EUR 13.0 million).

The APAC region reported a 4.8% decline in revenue to EUR 120.6 million (Q1 2025: EUR 126.7 million). However, this decline was primarily due to currency effects. Adjusted for currency effects, the region actually recorded revenue growth of 2.0% to EUR 129.2 million. In this region as well, revenue declined due to weak performance in the Automotive product area, falling by 14.7% to EUR 79.5 million. The Commercial Vehicles product area, on the other hand, saw strong growth, with revenue increasing by 22.7% to EUR 41.1 million due to stronger demand in agriculture and construction equipment as well as truck business. On the earnings side, business in APAC was primarily affected by an unfavourable customer and product mix. Operating EBIT amounted to EUR 8.1 million, compared to EUR 9.8 million in the same quarter of the previous year, with an operating EBIT margin of 6.7% (Q1 2025: 7.7%). Operating EBIT in APAC was adjusted for negative currency effects of EUR 0.4 million. EBIT consequently amounted to EUR 7.7 million (Q1 2025: EUR 9.8 million), with an EBIT margin of 6.4% (Q1 2025: 7.7%).

Revenue in the AMERICAS region totalled EUR 70.3 million in the reporting period, down 18.9% on the previous year (Q1 2025: EUR 86.7 million). Adjusted for currency effects the decline in revenue was 10.5%. The decline is primarily due to the phase-out of platforms in the Automotive business and lower volumes in the Commercial Vehicles area. Accordingly, the region recorded a significant decline in revenue in both product areas. In Automotive, revenue fell by 18.2% to EUR 47.5 million (Q1 2025: EUR 58.1 million), while in the Commercial Vehicles area, it decreased by 20.3% to EUR 22.8 million. Following the strong revenue drop, operating EBIT for the first three months was negative at EUR –3.9 million (Q1 2025: EUR 1.6 million). The operating EBIT margin was –5.5% (Q1 2025: 1.8%). Operating EBIT in AMERICAS was adjusted for positive currency effects of EUR 2.5 million. EBIT in the first quarter of 2026 was EUR –1.3 million (Q1 2025: EUR –1.0 million).

Jens Öhlenschläger, Spokesman of the Executive Board of GRAMMER AG: “The result in the first quarter of 2026 shows that GRAMMER is increasingly resilient and well positioned to navigate ongoing market volatility while further strengthening its competitive position. With our updated medium-term planning towards 2028, we have defined a clear ambition for sustainable growth and improved profitability, targeting revenue of EUR 2.5 billion and an operating EBIT margin of above 5%. We will continue to consistently implement measures and initiatives in order to achieve our goals.”

Net assets and financial position as of March 31, 2026

The GRAMMER Group’s total assets increased to EUR 1,640.9 million as of March 31, 2026 (December 31, 2025: EUR 1,607.2 million). Non-current assets increased by 1.8% to EUR 943.7 million (December 31, 2025: EUR 927.4 million). In particular, property, plant and equipment grew by EUR 6.8 million to EUR 484.4 million. Current assets increased by 2.5% to EUR 697.2 million (December 31, 2025: EUR 679.9 million), mainly due to a 32.8% increase in current trade account receivables to EUR 295.3 million driven by seasonally higher sales in the first quarter of 2026 compared with Q4 2025.

Equity rose by 6.9% to EUR 297.8 million as of March 31, 2026 (December 31, 2025: EUR 278.6 million) due to the positive net result. The equity ratio thus improved by 0.8 percentage points to 18.1% (December 31, 2025: 17.3%). Non-current liabilities remained overall stable with EUR 719.1 million (December 31, 2025: EUR 721.9 million). Current liabilities increased by EUR 17.2 million or 2.8% to EUR 623.9 million (December 31, 2025: EUR 606.7 million).

Continuity on the Executive Board: Contract Extended

The Supervisory Board of GRAMMER AG has extended the contract of Jens Öhlenschläger, Spokesman of the Executive Board, for a further term. The extended contract will take effect on January 1, 2027, and will run for five years. Commenting on the decision, Dr. Markus Lauer, Chairman of the Supervisory Board, stated: “By extending Jens Öhlenschläger’s contract as Spokesman of the Executive Board, we reaffirm our full confidence in him and in the Executive Board as a whole. Under his leadership, GRAMMER AG has developed positively. This decision underscores continuity and stability for the future. We look forward to continuing our trusted and constructive cooperation in the years ahead.”

Outlook for the full year 2026

GRAMMER presented its assessments of the company's expected performance in the current year in detail in its outlook in the 2025 annual report. For 2026 as a whole, GRAMMER continues to expect revenue of around EUR 1.9 billion with operating EBIT of approximately EUR 80 million. However, the outlook depends considerably on further geopolitical developments and their effects on the global economy.

The full statement for the first quarter of 2026 is available on the website at https://www.grammer.com/en/investor-relations/financial-publications-presentations/quarterly-reports/.

Company profile

GRAMMER AG, based in Ursensollen, specializes in the development and production of components and systems for car interiors as well as suspended driver and passenger seats for on-road and off-road vehicles. In the Automotive product area, the company supplies headrests, armrests, center console systems, high-quality interior components and operating elements for well-known car manufacturers and system suppliers in the vehicle industry. The Commercial Vehicles product area comprises the business areas of truck and off-road seats (tractors, construction machinery and forklifts) as well as train and bus seating. GRAMMER operates in 20 countries with around 11,400 employees. GRAMMER’s shares are listed in the Prime Standard and traded on the Frankfurt Stock Exchange and via the Xetra electronic trading system.