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Earnings in the third quarter impacted by customer plant closures due to supply chain constraints for semiconductors as well as increased commodity prices - adjustment to full-year forecast necessary

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GRAMMER Aktiengesellschaft / Key word(s): Change in Forecast/Quarter Results
Earnings in the third quarter impacted by customer plant closures due to supply chain constraints for semiconductors as well as increased commodity prices - adjustment to full-year forecast necessary

06-Oct-2021 / 11:24 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Publication of inside information in accordance with Article 17 of Regulation (EU) No. 596/2014
GRAMMER AG (WKN 589540, ISIN DE0005895403)

GRAMMER AG: Earnings in the third quarter impacted by customer plant closures due to supply chain constraints for semiconductors as well as increased commodity prices - adjustment to full-year forecast necessary

Ursensollen, October 6, 2021 - Based on its initial, preliminary figures, GRAMMER AG expects Group revenue to come to around 432 million euros for the third quarter of 2021 (previous year: 461.7 million euros), thus falling slightly short of the previous year's figure. The decline in revenue over the previous year is particularly due to the substantial reduction in customer call-offs caused by the limited availability of semiconductor components, especially in the AMERICAS and EMEA.

In addition, operating earnings in the third quarter materially came under pressure from price developments in the international commodity markets. GRAMMER AG's operating EBIT will therefore amount to around -1.2 million euros in the third quarter of 2021 according to preliminary figures and a current projection (Q3 2020: 22.4 million euros). Accordingly, EBIT should come to -1.2 million euros (Q3 2020: 5.8 million euros).

The significant impact on earnings in the third quarter of 2021 and expected market and business conditions have prompted GRAMMER to scale back its full-year earnings forecast for 2021. GRAMMER AG expects the challenging economic conditions to persist in 2021 particularly in the markets that it addresses. The further course of the global supply-chain constraints in the semiconductor industry and prices on international commodity markets are leaving significant traces on the earnings forecast. Consequently, GRAMMER is now forecasting full-year operating EBIT of between 17 and 22 million euros. It had previously been expecting operating EBIT of around 65 million euros. At the same time, it reaffirms its previous revenue guidance of around 1.8 billion euros.

The quarterly statement for the third quarter of 2021 will be published on October 27, 2021.

The Executive Board
GRAMMER AG




Contact:
GRAMMER Aktiengesellschaft
Tanja Bücherl
Phone: 0049 9621 66 2113
investor-relations@grammer.com

06-Oct-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

GRAMMER Aktiengesellschaft

Grammer-Allee 2

92289 Ursensollen

Germany

Phone:

+49 (0)9621 66-0

Fax:

+49 (0)9621 66-31000

E-mail:

investor-relations@grammer.com

Internet:

www.grammer.com

ISIN:

DE0005895403, DE0005895403

WKN:

589540, 589540

Listed:

Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange

EQS News ID:

1238683


 

End of Announcement

DGAP News Service

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