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Grammer AG (0OQX.L)

LSE - LSE Delayed price. Currency in EUR
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18.00+1.00 (+5.88%)
As of 11:53AM BST. Market open.
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Previous close18.10
Open17.95
Bid0.00 x N/A
Ask0.00 x N/A
Day's range17.95 - 17.95
52-week range17.95 - 17.95
Volume1
Avg. volumeN/A
Market cap220.306M
Beta (5Y monthly)1.06
PE ratio (TTM)N/A
EPS (TTM)-3.52
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target estN/A
  • EQS Group

    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

    GRAMMER Aktiengesellschaft / Key word(s): Preliminary ResultsGRAMMER 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 earnings09-Oct-2020 / 11:04 CET/CESTDisclosure 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. 596/2014GRAMMER 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 earningsUrsensollen, 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 AGThe Executive BoardContact:GRAMMER AktiengesellschaftTanja BücherlPhone: 0049 9621 66 2113investor-relations@grammer.com09-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

  • EQS Group

    Grammer AG: First half of 2020 significantly impacted by the effects of the COVID-19 pandemic

    DGAP-News: Grammer AG / Key word(s): Half Year Results 13.08.2020 / 09:14 The issuer is solely responsible for the content of this announcement. Grammer AG: First half of 2020 significantly impacted by the effects of the COVID-19 pandemic \- Group revenue declines by 30 percent to 735.8 million euros in the first six month\- EBIT impacted by one-time effects amounting to -24.2 million euros \- Operating EBIT of -45.7 million euros in the first half of the year\- Increase in existing syndicated loan successfully completed\- Specific full-year forecast for 2020 still not possible due to COVID-19-related uncertaintiesUrsensollen, August 13, 2020 \- Grammer AG sustained a significant decline in revenue and earnings in the first half of 2020. This is primarily due to production stops caused by the global COVID-19 pandemic and the related drastic decline in customer call-offs. Thus, Group revenue dropped by 30.0 percent in the first six months of the year to 735.8 million euros (01-06 2019: 1,051.5 million euros). The impact of the lower demand caused by the COVID-19 pandemic coincided with the weakness that had already been emerging in sales markets in all regions since the second half of 2019.Impact of COVID-19 and one-time effects leaving deep traces on earnings Earnings before interest and taxes (EBIT) amounted to -53.0 million euros in the first half of the year (01-06 2019: 50.2 million euros). This also includes one-time effects of a total of -24.2 million euros, of which a significant portion is attributable to inventory devaluation. Accordingly, operating EBIT fell to -45.7 million euros (01-06 2019: 50.1 million euros). In particular, currency translation effects as well as the directly attributable costs for corona-related protection and response measures were eliminated from operating EBIT. The operating EBIT margin came to -6.2 percent (01-06 2019: 4.8 percent). "The unprecedented impact of the COVID-19 pandemic hit us as a supplier to the global automotive industry particularly hard in EMEA and the Americas in the second quarter. However, in the APAC region we are seeing first signs of a recovery in our business. Thus, revenue in China was up again on the previous year in the second quarter," says Thorsten Seehars, Chief Executive Officer of Grammer AG, explaining the current situation. "We adopted measures at an early stage to get through the COVID-19 crisis safely and have been systematically continuing our performance program. At the same time, we are currently reorganizing our global structures to make them leaner and more flexible." EMEA and the Americas impacted significantly by the COVID-19 pandemic in the second quarter - slight recovery in APAC At the beginning of the year, decisive measures to contain the coronavirus were initially only necessary in China before Europe and the United States also took similar steps. In China, Grammer had temporarily closed its plants at the end of January 2020 in response to government orders. However, production was resumed there again step by step from the beginning of March. In mid-March, many customers discontinued production at their European and American plants, forcing Grammer to likewise close down its facilities, resulting in a significant decline in demand in all three regions.APAC (Asia Pacific) was hit by the government-ordered shutdown of production plants in China especially in the first quarter. Revenue increased again in the second quarter of 2020 due to market recovery and the ramp-up of production together with the effects of a positive customer mix, rising by 8.4 percent over the same quarter in the previous year to 86.1 million euros (Q2 2019: 79.4 million euros). In the first half of 2020 as a whole, APAC revenue reached 139.7 million euros (down 7.9 percent). EMEA (Europe, Middle East and Africa) sustained a substantial decline in revenue in the second quarter in particular as a result of the corona-induced plant lockdowns from mid-March, with revenue dropping by 48.8 percent in the second quarter. Revenue in the period from January through June 2020 reached 411.2 million euros in EMEA (down 30.9 percent). A similar trend emerged in the Americas (North, Central and South America) in the first half of the year, in which revenue fell to 184.9 million euros (down 39.3 percent). Revenue declined by 68.5 percent in this region in the second quarter. Revenue down in both divisions The weaker demand had a significant impact on both divisions in the second quarter. The reason for the lower revenue in the Automotive Division in the first half of the year was the contraction of the global automotive markets that had already emerged at the beginning of the year together with the substantial impact of the COVID-19 pandemic in all markets addressed by Grammer. Consequently, revenue in the Automotive Division dropped by 33.0 percent to 499.1 million euros. Despite the cost reduction measures implemented, operating EBIT in this division fell to -57.9 million euros (01-06 2019: 27.1 million euros) due to capacity shortfalls and one-time effects.The Commercial Vehicles Division sustained a decline of 22.8 percent in revenue to 256.6 million euros in the first half of 2020. The still relatively high demand in the first quarter of 2020 in both OEM and aftermarket business could only partially compensate for lower customer call-offs caused by global plant closures in the second quarter. Operating EBIT came to 14.5 million euros (01-06 2019: 32.3 million euros). Despite the COVID-19-related decline in revenue, Grammer outperformed the overall market in all three regions in the period under review. In this regard, both the Automotive and the Commercial Vehicles Divisions benefited from gains in market share and their respective customer mix. This applies in particular to the Commercial Vehicles Division. With its broad product portfolio targeted at various industries and market segments, Grammer has a very solid foundation. Successful financing measures In response to the worldwide sales crisis triggered by COVID-19, the Executive Board of Grammer AG initiated extensive liquidity preservation and cost management precautions at any early stage. This included the introduction of short-time working, reductions in variable expenses and capital expenditure together with a strict focus on cash flow management and the initiation of financing measures. Thus, in the first quarter of 2020, a hybrid loan with equity character with a volume of 19.1 million euros was raised and the syndicated loan contract for was refinanced by 150.0 million euros and 80.0 million USD at an early stage. Furthermore, on August 12, 2020, Grammer was also able to add a C tranche to the syndicated loan contract that had been entered in the first quarter of the year, increasing it by 235 million euros. In addition to Grammer's core banks, the KfW was also involved as a direct lender under the special program "direct participation in syndicated finance". Among other things, the conditions of the KfW program call for the dividend to be suspended during the three-year term of the new tranche.Still no full-year forecast for 2020 Whereas industrial production in China has now largely returned to normal, the other regions continue to be affected by restrictions, some of which are still severe. For this reason, the global economy is expected to remain under massive pressure in the second half of the year, meaning that a reliable full-year forecast of business performance in 2020 is currently not possible. Grammer assumes that revenue and operating earnings will be significantly lower than in the previous year. It will issue a specific full-year forecast for 2020 as soon as this can be done with sufficient certainty.About Grammer AG Located in Ursensollen, Germany, Grammer AG specializes in the development and production of components and systems for automotive interiors as well as suspended driver and passenger seats for onroad and offroad vehicles. In the Automotive Division, Grammer supplies headrests, armrests, center console systems, high-quality interior components, operating systems and innovative thermo-plastic solutions to automakers and automotive system suppliers. The Commercial Vehicles Division comprises seats for the truck and offroad seat segments (tractors, construction machinery, and forklifts) as well as train and bus seats. With about 14,500 employees, Grammer operates in 20 countries around the world. Grammer shares are listed in the Prime Standard and traded on the Frankfurt and Munich stock exchanges via the electronic trading system Xetra. Contact: GRAMMER AG Tanja Bücherl Phone: 0049 9621 66 2113 investor-relations@grammer.com * * *13.08.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de * * * Language: English Company: Grammer AG 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: 1117043 End of News DGAP News Service

  • EQS Group

    Grammer MSG 90.6 truck seat enjoying success in China

    DGAP-News: Grammer AG / Key word(s): Miscellaneous 11.08.2020 / 10:39 The issuer is solely responsible for the content of this announcement. Grammer MSG 90.6 truck seat enjoying success in China \- Multiple starts of production at Chinese OEM's\- Convincing ergonomics, comfort and safety\- Quality and local presence as key success factors Ursensollen, August 11th, 2020 \- Grammer truck driver seats are in strong demand in China, with a number of new series production starts of MSG 90.6 series scheduled at several well-known Chinese OEM customers in 2020. Comfortable, ergonomically designed driver's seats are an essential factor in modern trucks. They allow the driver to concentrate and ensure fatigue-free driving even over long distances. In China, this is becoming increasingly important, offering Grammer further growth opportunities in the world's largest commercial vehicle market. Manufactured locally at Grammer facilities in China, the MSG 90.6 series seats have been designed to meet market-specific customer requirements."As a manufacturer of high-quality driver seats for commercial vehicles, we are benefiting from the growing awareness of ergonomics, comfort and safety in the important Chinese market. The numerous new product launches are a confirmation of our attractive product portfolio and our strong local presence." says Thorsten Seehars, Chief Executive Officer of Grammer AG. "In this way, we are creating the basis for further growth in the largest truck market worldwide."High comfort and intuitive operation Grammer's MSG 90.6 series, which has enjoyed success and proven itself over many years, especially in the European market, features high-level comfort and special ergonomic functions. Fitted with pneumatic suspension, the seats offer optimum seating comfort and have numerous adjustable features - from the base-level trim to the high-end version.The innovative features of the MSG 90.6 include intuitive operation, well thought-out ergonomics and practical functions for ensuring protection and safety in the cabin. The MSG 90.6 meets the highest demands of professionalism thanks to its high ease of use. All the necessary functions are integrated in the seat. As well as this, special attention has also been paid to the operability of these functions. In this respect, Grammer has consistently implemented its "Design for Use" philosophy, ensuring that the MSG 90.6 seats can be operated with ease. The shape and positioning of the buttons and levers on the seat reflect their function and direction of operation. In this way, the unique shape of each switch prevents mix-ups when the seat is adjusted.Active seat climate control to ensure driver's well-being in all temperatures In addition to optimum adjustment, the climate control of commercial vehicle seats is also an important priority. This is why Grammer also offers the MSG 90.6 with active seat climate control. The system provides the driver with scope for individual adjustment during all seasons. In winter, the integrated heating provides pleasant warmth. During the warmer seasons, Grammer's active seat climate control system creates an excellent seat climate by leveraging the positive properties of activated carbon: moisture produced by the body where it comes into contact with the seat is removed by the material of the seat cover and temporarily stored in the layer of activated carbon beneath. The seat surface hence remains pleasantly dry even in extreme heat. In contrast to conventional seat climate control systems, which generate a cooling effect by blowing air directly onto the body, the Grammer system supports the natural cooling system of the human skin. About Grammer AG Located in Ursensollen, Germany, Grammer AG specializes in the development and production of components and systems for automotive interiors as well as suspended driver and passenger seats for onroad and offroad vehicles. In the Automotive Division, Grammer supplies headrests, armrests, center console systems, high-quality interior components, operating systems and innovative thermo-plastic solutions to premium automakers and automotive system suppliers. The Commercial Vehicles Division comprises seats for the truck and offroad seat segments (tractors, construction machinery, and forklifts) as well as train and bus seats. With about 14,500 employees, Grammer operates in 20 countries around the world. Grammer shares are listed in the Prime Standard and traded on the Frankfurt and Munich stock exchanges via the electronic trading system Xetra. * * *11.08.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de * * * Language: English Company: Grammer AG 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: 1114943 End of News DGAP News Service