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GRAMMER Aktiengesellschaft: Preliminary results for the third quarter of 2020: Quality of operating profit significantly improved in the third quarter, planned restructuring measures have a negative impact on earnings

·2-min read

GRAMMER Aktiengesellschaft / Key word(s): Preliminary Results
GRAMMER Aktiengesellschaft: Preliminary results for the third quarter of 2020: Quality of operating profit significantly improved in the third quarter, planned restructuring measures have a negative impact on earnings

09-Oct-2020 / 11:04 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)



Preliminary results for the third quarter of 2020: Quality of operating profit significantly improved in the third quarter, planned restructuring measures have a negative impact on earnings


Ursensollen, October 09, 2020 - On the basis of its preliminary figures, Grammer AG expects to report group revenue of around 458 million euros for the third quarter of 2020, roughly 8 percent lower than in the same quarter of the previous year (2019: 498.1 million euros). This revenue development represents a significant recovery over the first half of the year, which had been materially impacted by the economic effects of the COVID-19 pandemic.

Earnings before interest and taxes (EBIT) are impacted by exceptional effects in particular related to restructuring measures of around 12 million euros and are expected to amount to roughly 6 million euros (2019: 11.7 million euros). Adjusted for the exceptional effects, operating earnings before interest and taxes (operating EBIT) should reach around 22 million euros in the third quarter, thus substantially exceeding the figure for the same period in the previous year (2019: 9.1 million euros).

Among other things, the restructuring measures include the consolidation of sites in Europe and North America, as well as a reduction in indirect headcount with a focus on Germany, which is to be implemented by mid-2021 with the least possible social hardship.

The quarterly statement for the third quarter of 2020 will be published on October 29, 2020.

Grammer AG
The Executive Board




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

09-Oct-2020 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:

1139916


 

End of Announcement

DGAP News Service

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