GRAMMER AG — Investor Presentation 2019

Aug 13, 2019

ON THE MOVE

Presentation First Six Months 2019

Amberg, August 13th, 2019

GRAMMER GROUP – MARKET DEVELOPMENT

Car markets declining while Commercial Vehicles continue to grow

Passenger Cars – New Registrations January to June 2019 (source vda)

• First half year in the automotive industry mostly negative around the globe
• New registrations in Germany (+1%), SUVs increased (+14%), Western Europe with decline (-4%)
• North America with decline (-3%), Passenger Cars (-9%), light trucks (+1%)
• China with a strong decline (-14%), car sales have been declining for past 12 months

Commercial Vehicles (> 6t) – New Registrations January to June 2019 (source vda)

• Western Europe (+16%), with Germany (+21%) and strong growth in Netherlands, France and UK
• USA with ongoing dynamic growth momentum (+14%), Medium Duty (+5%) and Heavy Duty (+23%)
• Recovery in Brazil is continuing in the first six months (+46%)

China with a decline (-6%) in the first six months

Other Commercial Vehicle Markets

Agricultural, construction and material handling markets with ongoing growth in the first six months

Solid start in the first six months of 2019

Net profit on high levels

Balance sheet influenced by acquisition financing of TMD

252.6

76%

06/30/19

m.

-0.3%

Investments

Headcount increases due to TMD acquisition

AUTOMOTIVE – DEVELOPMENT 1-6 2019

Challenging start in H1 as expected – Sales & EBIT planned to improve in H2

• EMEA revenues influenced by challenging market conditions in the automotive industry in Europe in particular

COMMERCIAL VEHICLES – DEVELOPMENT 1-6 2019

Strong performance in a dynamic market environment

• development of the major market segments in H1 2019
• Growth in all regions underline higher market penetration and market share gains of GRAMMER's seating systems

EBIT improved to 32.5 € m.

EBIT and operating EBIT

EBIT margin decreased slightly in the first half year triggered by additional special costs due to very high capacity utilization rates

GRAMMER GROUP – MARKET OUTLOOK 2019

Most regional car & commercial vehicle markets expected to decline

		Eu ro p e	U S A	Br i l as	C h ina	W l d or
W l dw i de du ion t or ca r p ro c	So IH S 0 6 /20 19 urc e:	-2 %	-2 %	2 % +	-4 %	-3 %
W l dw i de k p du ion tru t or c ro c	So S 0 IH 4/2 01 9 urc e:	1 % +	7 % +	9 % +	-8 %	-1 %
Ag icu l l m h ine tu r ra ac ry	So Jo hn De 05 /20 19 urc e: ere	Fla t	Fla 5% t to up	Fla 5% t to up	Fla t to lig ht ly do s wn
	So A G C O /20 07 19 urc e:	Fla t	Fla t	Fla t
Co ion h ine tru t ns c m ac ry	So Ca illa r 0 7/2 01 9 ter urc e: p	dy de Ste a nd ma	Str g de on nd ma	S low to rec ov er	Fla t, h ide t ts g row ou o f C hin a
Fo k l i f ts r	So Ju he inr ic h 0 8 /20 19 urc e: ng	La ing d st an ice b le t no a de line c			Ma rke h t g t row wit h on a p ar he iou t p rev s ib le y ea r p os s	La ing d st an ice b le t no a de line c

GRAMMER GROUP – OUTLOOK 2019

Further growth and improved profitability expected for GRAMMER

		A l 2 0 1 8 t c u a	O l k 2 0 1 9 t o o u
	G l r o u p s a e s r e v e n u e	1. 8 6 b i l l i € o n	d 2. 1 b i l l i € a r o n o n u
G R A M M E R	E B I T	i l l i 4 9 € m o n	V l l b e r c e a r a o e p r e e a r y y v v. y
O l k t o o u	O i E B I T i t p e r a n g m a r g n	4. 1 %	i p r e v o u s y e a r >
	O C R E	1 0. 5 %	i p r e o s e a r v u y >

Important note:

The outlook for the second half-year 2019 is based on the current forecasts for the global economy as well as our main markets and customers.

Recent developments with respect to trade restrictions as well as mutually imposed retaliatory customs tariffs could have a negative impact on the sales of our customers in the Automotive Division in the second half of the year and may leave noticeable traces on future earnings.

ON THE MOVE

Backup Information

Key Figures 1-6 2019

[ I F R S i i l l i ] € n m o n	Q 2 2 0 9 1	Q 2 2 0 8 1	C h g.	0 0 6 2 0 9 1- 1	0 0 6 2 0 8 1- 1	C h g.
G R r o u p e v e n u e s	5 1 7. 4	4 7 3. 2	9. 3 %	1, 0 5 1. 5	9 2 7. 6	1 3. 4 %
E B I T D A E B I T D A i ( i ) % m a r g n n	4 7. 1 9. 1	3 3. 4 7, 1	4 1. 0 % i 2. 0 % t -p o n s	9 1. 3 8. 7	6 5. 4 7. 1	3 9. 6 % i 1. 6 % t -p o n s
E B I T E B I T i ( i ) % m a r g n n	2 6. 2 5. 1	2 1, 5 4, 5	2 1. 9 % i 0. 6 % t -p o n s	5 0. 2 4. 8	4 1. 9 4. 5	1 9. 8 % i 0. 3 % t -p o n s
O i E B I T t p e r a n g O i E B I T i ( i % ) t p e r a n g m a r g n n	2 7. 1 5. 2	2 2, 8 4, 8	1 8. 9 % 0. 4 % i t -p o n s	5 0. 1 4. 8	4 3. 3 4. 7	1 5. 7 % 0. 1 % i t -p o n s
P f i f t t t r o a e r a e s x E P S i € n	1 6. 0 1. 3 0	1 3, 0 1, 0 6	2 3, 1 % 2 2, 6 %	2 7. 6 2. 2 5	2 5. 2 2. 0 6	9. 5 % 9. 2 %
T l A t t o a s s e s E i t q u y E i i t t q u y r a o	1, 4 6 8. 7 3 3 1. 7 2 3	1, 0 7 1. 2 3 1 9. 9 3 0	3 7. 1 % 3. 7 % -7 % i t -p o n s	1, 4 6 8. 7 3 3 1. 7 2 3	1, 0 7 1. 2 3 1 9. 9 3 0	3 7. 1 % 3. 7 % -7 % i t -p o n s
N F i i l D b t t e n a n c a e G i i ( i % ) t e a r n g r a o n	2 5 2. 6 7 6	1 3 7. 2 4 3	8 4. 1 % 3 3 % i t -p o n s	2 5 2. 6 7 6	1 3 7. 2 4 3	8 4. 1 % 3 3 % i t -p o n s
C ( / M & A ) a p e x w o D i i t e p r e c a o n	2 3. 6 2 0. 9	1 3. 0 1 1. 9	8 1. 5 % 7 5, 6 %	5 6. 0 4 1. 1	2 3. 0 2 3. 5	1 4 3. 5 % 7 4. 9 %
E l ( h- d ) t m p o y e e s m o n e n	1 4, 9 4 6	1 3, 1 4 3	1 3. 7 %	1 4, 9 4 6	1 3. 1 4 3	1 3. 7 %

GRAMMER AG

Share price development

Selected Broker Recommendations

ke Bro r	Da te	Cu nt Re rre co mm	Cu nt rre ( ) TP €
de lve Ba r H a e a	14 -M 19 ay-	l d Ho	39 .0
Ba k ha Lam n us pe	14 -M 19 ay-	Bu y	52 .0
k DZ Ba n	15 -M 19 ay-	l d Ho	36 .0
bu MM W ar rg	15 -M 19 ay-	l d Ho	36 .0
d do O BH F	14 -M 19 ay-	l d Ho	41 .0
Co nse nsu s

Top Shareholders

Inv to es r	in * %
J iy Au Pa ** to ts e r	8 4. 2 3 %
Ow ha 2. 6 2 % tre n as ur y s re s
Fr F loa ( 3 % ) t ee <	1 3. 1 5 %
*) Per e b d o ting rig hts tag n 1 2, 607 121 cen ase vo ,
f G **) Ass oci d c RA MM ER 's s ic ate trat om pan y o eg r N ing bo Jife tne par ng

Basic Share Data

S I I N	D E 0 0 0 5 8 9 5 4 0
W K N / Co de	5 8 9 5 4 0 / G M M
Nu be f s ha m r o re s	1 2, 6 0 7, 1 2 1
Ma ke t c [ Ju ] r ap 30 20 19 ne ,	i l l ion 4 1 0 € m
Av da i ly d. lum 2 0 1 9: tra e. vo e	4, 0 0 0 s ha re s

Financial key figures 5-year overview

[ I F R S, i € i l l i ] n m o n	2 0 1 8	2 0 1 7	2 0 1 6	2 0 1 5	2 0 1 4
G R r o u p e v e n u e s	1, 8 6 1. 3	1, 7 8 6. 5	1, 6 9 5 9	1, 4 2 5 7	1, 3 6 5 9
E B I T D A E B I T D A i m a r g n	1 0 1. 0 5 4 %	1 1 6. 0 6. 5 %	1 2 0. 2 7. 1 %	8 3 2 5 8 %	9 3 7 6. 9 %
E B I T E B I T i m a r g n	4 8 7 2 6 %	6 6. 5 3 7 %	7 3 0 4 3 %	4 2 7 3 0 %	5 7. 0 4 2 %
P f i f t t t r o a e r a x e s E P S i € n D i i d d / S h i € v e n a r e n	2 3 2 1. 9 0 0. 7 5	3 2 4 2 6 7 1. 2 5	4 5 2 4 0 1 1. 3 0	2 3 8 2 1 0 0. 7 5	3 3 6 3 0 9 0. 7 5
T l A t t o a s s e s E i t q u y E i i t t q u y r a o	1, 4 4 1. 4 3 1 4 8 2 2 %	1, 1 0 7. 0 3 3 7. 7 3 1 %	1, 0 5 0. 6 2 7 1. 2 2 6 %	9 9 2 1 2 5 3 4 2 6 %	8 3 6. 5 2 3 1. 8 2 8 %
N F i i l D b t t e n a n c a e G i i t e a r n g r a o	2 5 3 3 8 0 %	9 2 2 2 7 %	1 3 9 1 5 1 %	1 5 5 5 6 1 %	8 6. 7 3 7 %
C ( / M A ) & a p e x w o D i i t e p r e c a o n	7 3 9 5 2 3	5 9 1 4 9 5	5 6. 2 4 7. 2	4 7. 9 4 0. 5	5 1. 5 3 6. 7
E l ( D 3 1 ) m p o e e s e c. y	1 4 6 5 7 ,	1 2 9 4 7 ,	1 2 2 5 0 ,	1 1, 3 9 7	1 0, 7 0 0

Financial Calendar and IR Contact

F i i l C l d 2 0 1 9 n a n c a a e n a r	I R l i C t t t t n v e s o r e a o n s o n a c
I i M t t n e r m a n a g e m e n S Q 3 / 2 0 1 9 N b 1 2, 2 0 1 9 t t t a e m e n s o v e m e r	B i M i t o r s u u s He d f Inv Re la ion to t a o es r s, Co ica ion Ma ke ing C S R t t m m un s, r ,
	P h 4 9 ( 0 ) 9 6 2 1 6 6 2 2 0 0 o n e : + F ( ) 4 9 0 9 6 2 1 6 6 3 2 2 0 0 a x : + @ E i l i l i t t m a n e s o r- r e a o n s g r a m m e r. c o m : v I / i l i t t t t n e r n e : w w w g r a m m e r. c o m n v e s o r- r e a o n s

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