DGAP-News: Grammer AG with new record in 2013 DGAP-News:

DGAP-News: Grammer AG / Key word(s): Preliminary Results Grammer AG with new record in 2013 20.02.2014 / 06:53 --------------------------------------------------------------------- Grammer AG with new record in 2013 12 percent revenue growth to EUR 1.265 billion EBIT disproportionately improved despite intensive up-front efforts EBIT margin increased to 4.6 percent Amberg, February 20, 2014 - In 2013 fiscal year Grammer AG was able to once again substantially improve the previous year's good results despite ongoing volatile market conditions. On the basis of preliminary figures for fiscal year 2013, Grammer achieved new record revenue of EUR 1.265 billion at the group level, an increase of more than EUR 130 million (2012: EUR 1.133 billion). Total revenue was up 12 percent for fiscal year 2013, thus exceeding expectations considerably. Both divisions - Automotive and Seating Systems - contributed to this gratifying performance with strong growth rates. Revenue growth was mainly driven by China in particular as well as North and South America, the acquisition of Czech headrest specialist Nectec Automotive s.r.o. and the high number of development projects for future serial ramp-ups. Despite the intensive up-front efforts to systematically implement the global growth strategy, the Grammer Group's profitability improved again in the previous business year. Preliminary consolidated operating earnings (EBIT) rose by a disproportionately strong 18 percent over the previous year to around EUR 58 million (2012: 49). At 4.6 percent, the EBIT margin within the Grammer Group was up on the previous year (2012: 4.3). In addition to the encouraging revenue performance, operating earnings were also influenced mainly by the set-up of new plants in China and the NAFTA region as well as optimization efforts initiated in Eastern Europe in particular. Both divisions successfully continuing on their growth trend Revenue in the Automotive Division climbed by a sharp 14 percent to EUR 810 million (2012: 711), thus exceeding the previous year's record figure again substantially. Operating earnings in the Automotive Division came to EUR 33 million, well up on the previous year (2012: 30). Influenced by high up-front project efforts, EBIT margin reached 4.1 percent, almost on par with the previous year (2012: 4.3). At EUR 470 million (2012: 439) and almost 7 percent increase in revenue the Seating Systems Division also achieved new record levels. With an EBIT of around EUR 37 million (2012: 26), the Seating Systems Division performed very well in fiscal year 2013. Supported by an overall positive market development in all segments and regions, the EBIT margin reached 8.0 percent, well in excess of the previous year (2012: 6.0). Growth trend continued in the fourth quarter of 2013 At EUR 312 million, Group revenue remained at a gratifyingly high level in the fourth quarter (Q4 2012: 282). Consolidated EBIT rose to around EUR 15 million (Q4 2012: 14) in the fourth quarter. Group EBIT margin was 4.7 percent, almost on par with the previous year's high level (Q4 2012: 4.8). Positive start to the new year - further appreciable growth expected in 2014 Given the Grammer Group's continued good order intake and additional short-term customer projects for automotive products in Brazil, the Executive Board of Grammer AG is confident with respect to business performance in 2014. Assuming stable economic conditions, Grammer expects an appreciable increase in revenue to over EUR 1.3 billion. 'Our Company's exceedingly successful business performance confirms our operating and strategic orientation. We will further intensify the up-front efforts for optimization and growth projects in all regions again this year. Looking forward, we will be continuing our strategy unabated in 2014, thus tapping the high growth potential for our Company around the world,' says Hartmut Müller, Chief Executive Officer of Grammer AG. Grammer AG will be publishing its full annual report for 2013 on March 31, 2014. Note on prior-year figures: Prior-year figures 2012 were adjusted to reflect application of IFRS 11 and the amended version of IAS 19. Company Profile Grammer AG, Amberg, Germany, is specialized in the development and production of components and systems for automotive interiors as well as driver and passenger seats for offroad vehicles (tractors, construction machinery, forklifts), trucks, buses and trains. Our Seating Systems division comprises the truck and offroad seat segments as well as train and bus seating. In the Automotive division, we supply headrests, armrests and center console systems to premium automakers and automotive system suppliers. Grammer is represented in 18 countries worldwide with a workforce of approx. 10,000 employees across its 29 subsidiaries. Grammer shares are listed in the SDAX segment of the German Stock Exchange, and are traded on the Munich and Frankfurt stock exchanges, via the Xetra electronic trading platform and on the OTC markets of the Stuttgart, Berlin and Hamburg stock exchanges. Contact: GRAMMER AG Ralf Hoppe Phone: 0049 9621 66 2200 investor-relations@grammer.com End of Corporate News --------------------------------------------------------------------- 20.02.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Grammer AG Postfach 14 54 92204 Amberg Germany Phone: +49 (0)9621 66-0 Fax: +49 (0)9621 66-1000 E-mail: investor-relations@grammer.com Internet: www.grammer.com ISIN: DE0005895403, DE0005895403 WKN: 589540, 589540 Indices: SDAX Listed: Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 253422 20.02.2014