DGAP-Adhoc: Grammer AG: Preliminary figures for the first half 2015 published


Grammer AG  / Key word(s): Preliminary Results/Half Year Results

30.07.2015 20:13

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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The issuer is solely responsible for the content of this announcement.

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Ad hoc announcement in accordance with Section 15 of the German Securities
Trading Act (WpHG)
GRAMMER AG (WKN 589540, ISIN DE0005895403)


Preliminary figures for the first half 2015 published

EBIT after six months lower than last year due to weak demand for
commercial vehicles

Operating profit for the full year adjusted due to sharp decline in
commercial vehicle market. Revenue forecast for 2015 confirmed.

Amberg, July 30, 2015 - On the basis of its preliminary figures, the
Grammer Group posted a substantial 6% increase in revenue over the previous
year to EUR 710.2 million (2014: 669.6) despite the sharp contraction in
commercial vehicle markets. Earnings before interest and taxes (EBIT) came
to EUR 24.6 million, thus falling short of the previous year (30.9) due to
the substantial decline in demand in profitable core markets.

In the first six months of the year, weaker market conditions in the truck
and the construction machinery markets in Brazil and China in particular as
well as the global agricultural machinery sector worsened again
substantially. These weak conditions in core markets addressed by Grammer
fed directly through to sales of suspended seats for trucks and
agricultural machinery in the Seating Systems Division in the second
quarter in particular. However, the continued favorable business
development of the Automotive Division and the cost-cutting measures
already implemented were not able to fully compensate for the continuing
negative market environment as mentioned above.

As a result of the burden caused by the sharp decline in the commercial
vehicle market in the first half of the year and the failure of the
recovery expected at the beginning of the year to materialize in the second
half, the full-year earnings forecast for 2015 has been adjusted. Moreover,
additional structural adjustments are necessary for the Brazilian market to
bring the local production facilities into line with what may well be a
protracted weakness in demand for Brazilian trucks. Accordingly, Grammer
expects EBIT in 2015 to drop by around EUR 15 million over the previous
year. Despite the substantially weaker business in the Seating Systems
Division, the Group continues to project an appreciable increase in revenue
over the previous year to more than EUR 1.4 billion.

Grammer AG will be releasing its full report on the second quarter of 2015
on August 5, 2015.

GRAMMER AG
The Executive Board




Contact:
GRAMMER AG
Ralf Hoppe
Phone: 0049 9621 66 2200
investor-relations@grammer.com


30.07.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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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:       Regulated Market in Frankfurt (Prime Standard), Munich;
              Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg,
              Stuttgart
 
End of Announcement                             DGAP News-Service
 
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