GRAMMER AG : 2018 guidance cut on weak Q3 Automotive demand and severe takeover-related one-offs; Buy maintained
>Grammer cuts its 2018 guidance on weak Q3 Automotive demand and severe takeover-related one-off costs - Yesterday (15 October) Grammer released prelim. 9M 2018 EBIT figures along with a warning on its full-year 2018 guidance (€ 1.85bn group sales and a c.5% operating EBIT margin) as i/ customer call-offs in Automotive were especially weak in Q3 2018, and ii/ the company booked a substantial amount of extra costs related to its successful takeover in Q3 by an affiliat...Grammer is engaged as a producer of seating systems and automotive interiors. Co. supplies original equipment manufacturers (OEMs) of commercial and off-road vehicles, including agricultural and forestry vehicles as well as construction machinery and material handling vehicles. Other customer groups include rail transport OEMs, rail operators and bus manufacturers. Co. operates through two division: Seating Systems, which develops and produces driver and passenger seats for agricultural and construction vehicles, forklifts, trucks, buses and trains; and Automotive, which supplies headrests, armrests and center consoles to carmakers and systems suppliers for the automotive industry.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.