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GRAMMER AG — Earnings Release 2012
Feb 19, 2013
186_rns_2013-02-19_c9f3828e-b592-4f6f-96a2-61456cc19c5e.html
Earnings Release
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Corporate | 19 February 2013 06:53
Grammer AG once more hits revenue record
Grammer AG / Key word(s): Preliminary Results
19.02.2013 / 06:53
Grammer AG once more hits revenue record
Revenue improves by more than 4 percent to EUR 1.140 bn. despite weaker market
2012 operating profit at about EUR 47 million slighty higher than expectations
Company again plans to pay a dividend
Amberg, February 19, 2013 – Grammer Group grew despite difficult car and truck markets in fiscal year 2012 to once more beat the prior year's revenue record. In all, preliminary figures for the global automotive supplier and leading manufacturer of seating systems for commercial vehicles show group revenue at EUR 1.140 billion – an increase of more than four percent from record year 2011 (2011: 1.093).
Despite planned one-time startup costs for new products and the unexpectedly drastic slowdown of Brazil's commercial vehicle market in 2012, Grammer was able to achieve an good operating result and ended up in exceeding expectations slightly. The preliminary figure for earnings before interest and taxes (EBIT) at about EUR 47 million was just slightly lower than last year (2011: 49.4).
In the fourth quarter, according to the preliminary numbers, Grammer generated group revenues of EUR 281 million, matching the high levels seen in the preceding quarters (Q4 2011: 283.1). Operating profit of roughly EUR 13 million in the fourth quarter was the highest in any quarter of 2012 (Q4 2011: 13.4).
Market position continues to improve
'Our new, innovative products allowed us to continue improving our market position in a difficult environment. Overall, we are very satisfied with the performance of the company in fiscal year 2012. Thanks to our broad international footing, we were able to compensate for the sometimes drastic slowdowns in our core markets and achieve further growth,' says Hartmut Müller, CEO of Grammer AG.
Revenue in the Automotive division totaled EUR 710 million in 2012 – an increase of nearly 5 percent over record year 2011 (2011: 680.3). Revenue in the Seating Systems division improved by more than two percent compared to prior year to EUR 448 million (2011: 438.4).
The focus on the premium segment, good international positioning and investments in new products allowed Grammer to grow its Automotive business in opposition to the general market trend. Grammer's Seating Systems division saw revenues increase based on a global market position and the successful launch of the new truck seat generation. This was accomplished despite the overall market deterioration, in particular the significant slowdown in one of Grammer's most important markets, the Brazilian truck market.
Dividend planned
Based on the positive earnings, Grammer intends to once more ensure that its shareholders participate in the success of the business by paying a dividend again in 2012. The Executive and Supervisory Boards of Grammer AG will decide on the amount of the dividend proposal in March.
Outlook 2013
For the early part of this year no broad recovery of the economy can be expected. However, Grammer foresees a stable development overall in the company's core markets. Accordingly, due to its international presence and new products Grammer has good chances in 2013 for further growth and improved market positioning in core markets. The complete Grammer AG 2012 Annual Financial Statements will be published on March 27, 2013.
Company Profile
Grammer AG, Amberg, Germany, is specialized in the development and production of components and systems for automotive interiors as well as driver and passenger seats for offroad vehicles (tractors, construction machinery, forklifts), trucks, buses and trains. Our Seating Systems division comprises the truck and offroad seat segments as well as train and bus seating. In the Automotive division, we supply headrests, armrests and center console systems to premium automakers and automotive system suppliers.
Grammer is represented in 18 countries worldwide with a workforce of approx. 9,000 employees across its 24 fully consolidated subsidiaries.
Grammer shares are listed in the SDAX segment of the German Stock Exchange, and are traded on the Munich and Frankfurt stock exchanges, via the Xetra electronic trading platform and on the OTC markets of the Stuttgart, Berlin and Hamburg stock exchanges
Contact:
GRAMMER AG
Ralf Hoppe
Phone: 0049 9621 66 2200
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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: | [email protected] |
| 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 News | DGAP News-Service |
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| 201730 19.02.2013 |