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GRAMMER Aktiengesellschaft / Key word(s): Change in Forecast/Quarter Results
Publication of inside information in accordance with Article 17 of Regulation (EU) No. 596/2014
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.
06-Oct-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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