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GRAMMER Aktiengesellschaft
ISIN: DE0005895403
WKN: 589540
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GRAMMER Aktiengesellschaft · ISIN: DE0005895403 · Newswire (adhoc)
Country: Deutschland · Primary market: Germany · EQS NID: 2029647
14 November 2024 08:14AM

Divergence of earnings performance in the third quarter of 2024 from the previous year and adjustment of revenue forecast for the full year 2024


EQS-Ad-hoc: GRAMMER Aktiengesellschaft / Key word(s): Quarter Results/Change in Forecast
GRAMMER AG: Divergence of earnings performance in the third quarter of 2024 from the previous year and adjustment of revenue forecast for the full year 2024

14-Nov-2024 / 08:14 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Publication of inside information pursuant to Article 17 of Regulation (EU) No. 596/2014

GRAMMER AG (WKN 589540, ISIN DE0005895403)

 

GRAMMER AG: Divergence of earnings performance in the third quarter of 2024 from the previous year and adjustment of revenue forecast for the full year 2024

Ursensollen, November 14, 2024 – According to figures, GRAMMER Group recorded earnings in the third quarter of 2024 below the previous year's level. Operating EBIT of approximately EUR 8.4 million in the third quarter of 2024 is below the previous year (Q3 2023: EUR 13.0 million). Operating EBIT was adjusted for negative currency effects of approximately EUR 4.8 million and restructuring expenses of EUR 31.1 million, refinancing costs of EUR 0.7 million and deconsolidation expenses of EUR 7.0 million. Group revenue for the months July to September 2024 was also below the previous year's level at EUR 472.9 million (Q3 2023: EUR 494.2 million). The financial figures for the third quarter of 2024 and those of the previous year were adjusted for the discontinued operation of the TMD Group.

The operating EBIT in the third quarter of 2024 was impacted by the decline in revenue and higher costs due to volatile plant utilization. In particular, revenues in EMEA and APAC were significantly lower than expected in the third quarter of 2024. This is due to continued weak demand from OEMs as a result of widespread macroeconomic and industry-specific uncertainty.

In light of the business performance to date and the successful sale of TMD Group, GRAMMER is maintaining its full-year operating EBIT forecast of around EUR 56.8 million, which was adjusted in August. The originally forecast revenue of EUR 2.3 billion will not be achieved due to significantly weaker demand and the sale of the TMD Group. Revenues of around EUR 2 billion are now expected for 2024.

The Executive Board
GRAMMER AG

 


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


End of Inside Information

14-Nov-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


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: 2029647

 
End of Announcement EQS News Service

2029647  14-Nov-2024 CET/CEST

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