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GRAMMER AG — Earnings Release 2010
Oct 5, 2010
186_rns_2010-10-05_1e835a60-2dbc-46e3-bce5-cf582c280287.html
Earnings Release
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Ad-hoc | 5 October 2010 17:21
Grammer AG: Increased revenues and earnings forecast for 2010
Grammer AG / Key word(s): Change in Forecast
05.10.2010 17:21
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
Ad hoc notification in accordance with Sec. 15 of the German Securities
Trading Act (WpHG)
GRAMMER AG (WKN 589540, ISIN DE0005895403)
Increased revenues and earnings forecast for 2010
Revenue growth in 2010 around 20 percent over previous year
EBIT margin between 3.2 and 3.5 percent for full year 2010
Amberg, October 05, 2010 - GRAMMER AG (WKN 589540, ISIN DE0005895403),
automotive supplier and seating systems manufacturer, is raising its
revenues and earnings forecast for the 2010 fiscal year, due to better than
expected business development.
For the 2010 fiscal year, the company now expects revenue growth of
approximately 20 percent in comparison to the previous year (2009: 727.4
million EUR). Subject to stable market and exchange rate development, the
operating profit (EBIT) margin should amount to between 3.2 and 3.5 percent
for full year 2010. Previously, GRAMMER AG had forecasted revenue growth
of around 10 percent and an EBIT margin of around 3 percent.
Reasons for the improved outlook in the current business year are better
than expected development during the summer months and a good order
situation in both business segments. The typical seasonal decline caused by
the customers' production holidays during the months of July and August was
much less pronounced than initially expected due to the positive economic
development. Furthermore, unflagging demand in China and North America for
German-made premium cars, as well as the positive order situation in both
GRAMMER AG business segments are supporting the positive business
performance. GRAMMER AG sees potential risks for the further business
development, mainly in the development of currency exchange rates and raw
material prices. Additionally, the length of the customers' Christmas
holidays could influence year-end business more strongly than expected.
GRAMMER AG
The Executive Board
GRAMMER AG
Ralf Hoppe
VP Investor Relations, Communications & Marketing
Tel.: +49 9621 662200
[email protected]
05.10.2010 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: Grammer AG
Postfach 14 54
92204 Amberg
Deutschland
Phone: +49 (0)9621 66-0
Fax: +49 (0)9621 66-1000
E-mail: [email protected]
Internet: www.grammer.com
ISIN: DE0005895403, DE0005895403
WKN: 589540, 589540
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Hamburg, Düsseldorf, Berlin, Stuttgart
End of Announcement DGAP News-Service