DGAP-News: Grammer reporting substantial increase in growth

DGAP-News: Grammer AG / Key word(s): Half Year Results Grammer reporting substantial increase in growth and profitability in the first half of 2013 07.08.2013 / 06:50 --------------------------------------------------------------------- Grammer reporting substantial increase in growth and profitability in the first half of 2013 13.3 % increase in revenue to EUR 642.5 million in the first half Improvement in the EBIT margin to 4.7 % Disproportionately rise in net profit by 30.1 % to EUR 17.3 million Amberg, August 7, 2013 - With a substantial increase in Group revenue and improved profitability, Grammer AG closed the first half of 2013 on a very successful note. Compared with the already good first quarter, the company achieved even greater momentum in the following three months. In total Group revenue climbed by 13.3 percent to EUR 642.5 million in the first half of the year (2012: 567.2). The specialist for seating systems and car interior was able to increase earnings before interest and taxes (EBIT) by 23.9 percent to EUR 30.1 million (2012: 24.3). The EBIT margin improved accordingly by 0.4 percentage points to 4.7 percent (2012: 4.3). Net profit grew even more in the first half of 2013 by 30.1 percent, reaching EUR 17.3 million (2012: 13.3). In the second quarter alone, Grammer Group generated revenue of EUR 334.1 million (2012: 284.5), EBIT of EUR 16.3 million (2012: 12.0) and net profit of EUR 9.3 million (2012: 5.7). 'We have been growing very dynamically on a broad front. Revenue in the Automotive division and the profitability of the Seating Systems division are particularly encouraging. Our strategic decision to focus on the premium segment, the acquisition of nectec Automotive s.r.o. as well as the additional market share gains due to new products have had a very positive impact,' says Hartmut Müller, CEO of Grammer AG. Automotive division continuing to make headway In the automotive business, Grammer posted a substantial 18.1 percent increase in revenue to EUR 406.1 million in the first half of 2013 (2012: 343.9) despite the protracted difficult market conditions and generally lower new registration numbers particularly in the major European markets. Operating earnings (EBIT) came to EUR 17.8 million (2012: 15.2), thus growing at close to the same rate as revenue. The EBIT margin remained stable at 4.4 percent in the first half of 2013. In the second quarter, revenue in the Automotive division climbed by as much as 22.1 percent to EUR 212.4 million (2012: 174.0). Seating Systems growing on a high level with improved profitability Revenue in the Seating Systems division rose by 5.8 percent, thus contributing EUR 246.1 million to Grammer's pleasing performance in the first half of 2013 (2012: 232.7). Spurred by the recovery in the commercial vehicles market in Brazil as well as additional market share gained by new products, the division was able to more than offset the general market weakness particularly in Europe. Operating earnings (EBIT) in the Seating Systems division were particularly positive, rising to EUR 18.3 million (2012: 13.3 million). The EBIT margin improved significantly by 1.8 percentage points to 7.5 percent (2012: 5.7). Growth was particularly strong in the second quarter of 2013, with revenue rising by 10.2 percent to EUR 126.5 million (2012: 114.8). Full-year outlook for 2013 Given its very encouraging business performance over the past six months and based on the current economic conditions, Grammer considers the Group's further development to be decidedly stable. Accordingly, the company expects revenue and earnings to be appreciably higher in 2013 than in the previous year. Possible risks arising from the foreign currency markets, the persistent eurozone crisis and conditions in the global car and truck markets continue to be monitored closely and may also burden revenue and earnings in the event of any negative trends emerging. Note on previous year's 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, specializes 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). The 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 more than 9,000 employees across its 27 fully consolidated 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 over the counter at 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 --------------------------------------------------------------------- 07.08.2013 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 --------------------------------------------------------------------- 224540 07.08.2013