GRAMMER AG : Q1 2019 op. EBIT in line with our expectation – we remain Neutral
>Q1 2019 op. EBIT in line, reported EBIT marginally below our estimate - Grammer reported its Q1 2019 results today (14 May). Group sales of € 534m (+18% yoy) were in line with our estimate (€ 534m), and group op. EBIT, at € 23m (4.3% margin, -20bp yoy), was likewise in line with our expectation (€ 23m). Reported EBIT stood at € 24m (4.5% margin, +0bp yoy), marginally below our estimate (€ 25m) as the FX tailwind of the revaluation of net assets/liabilities was touch ...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.