GRAMMER AG — Earnings Release 2011

Feb 22, 2012

News Details

Ad-hoc | 22 February 2012 08:58

Record results for Grammer Group in 2011

Grammer AG / Key word(s): Preliminary Results

22.02.2012 08:58

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Ad hoc notification in accordance with Sec. 15 of the German Securities
Trading Act (WpHG)
GRAMMER AG (WKN 589540, ISIN DE0005895403)

Record results for Grammer Group in 2011
Dividend payment to resume
Group revenue grows by 18 percent to Euro 1,093 million
Consolidated EBIT increases by 50 percent to Euro 49 million

Amberg, February 22, 2012 - Today, Grammer AG, automotive supplier and
leading manufacturer of seating systems for commercial vehicles, published
its preliminary financial figures for fiscal year 2011. In the reporting
year, Grammer's revenue grew by 18 percent to Euro 1,093 million (2010:
929.7), a record in the 50-year history of the company. During 2011,
Grammer benefitted from the dynamic growth of agricultural machinery and
truck markets worldwide, as well as strong export performance by the German
automotive manufactures. In addition to persistently high demand, Grammer's
double-digit revenue growth was also a result of numerous new product
launches. Preliminary figures for consolidated earnings before interest and
taxes (EBIT) increased to Euro 49 million (2010: 32.9), which is also a new
record for the company. Compared to fiscal year 2010, this represents a 50
percent rise despite sometimes intense volatility in commodity and currency
markets in 2011. The EBIT margin for full-year 2011 is estimated at 4.5
percent (2010: 3.5). In addition to the strong operative performance, cash
flow showed a positive development as well, resulting in a reduction of net
financial debt by more than 20 million to Euro 92 million at December 31,
2011.

For the first time since 2008, the Grammer AG Executive Board will again
ensure that shareholders participate in the success of the company by
paying a dividend. The amount of the dividend proposal will be decided in
March.

The company's Automotive division profited from new production starts, as
well as thriving global demand for premium vehicles from Germany. Revenue
in this division for 2011 as a whole totalled Euro 680 million (2010:
610.2), topping Grammer's already strong revenue performance in 2010 by a
further 11 percent.

The Seating Systems division also saw a considerable 28 percent increase in
revenue during the reporting year to Euro 438 million (2010: 341.9). This
increase of more than Euro 95 million was attributable in large part to
persistently high demand in the offroad segment in all regions as well as
improving demand for trucks.

Chief Financial Officer Alois Ponnath will leave Grammer AG at the end of
May 2012. Alois Ponnath was a member of the company for more than 20 years,
the final eleven years of which he served as Chief Financial Officer (CFO).
The Supervisory Board and Mr. Ponnath have jointly come to the decision not
to renew the Executive Board contract set to expire on October 31, 2012.
Instead, it will be terminated at the end of May 2012. Mr. Ponnath will
resign from the Executive Board after the ordinary annual general meeting
on May 23, 2012. The departure of Mr. Ponnath after his long-standing
service is in mutual amicable agreement with the Supervisory Board. The
Supervisory Board would like to thank Mr. Ponnath for his many years of
dedication to Grammer AG. No decisions have yet been made with respect to
Mr. Ponnath's successor.

Depending on the global economic development, Grammer plans to continue its
growth trajectory with further improvements of revenue and earnings in
2012. A comprehensive outlook and the complete 2011 financial statements
will be published by Grammer AG on March 29, 2012.

GRAMMER AG
The Executive Board

Contact:
GRAMMER AG
Ralf Hoppe
Phone: 0049 9621 66 2200
investor-relations@grammer.com

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Language: English
Company: Grammer AG
Postfach 14 54
92204 Amberg
Germany
Phone: +49 (0)9621 66-0
Fax: +49 (0)9621 66-1000
E-mail: investor-relations@grammer.com
Internet: www.grammer.com
ISIN: DE0005895403, DE0005895403
WKN: 589540, 589540
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart

End of Announcement DGAP News-Service

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