GRAMMER AG : Q2 2018 results largely in line, 2018 guidance reiterated
>Q2 2018 results largely in line, H1 2018 Automotive order intake at € 650m - Today (07 August) Grammer (GMM) reported Q2 2018 group sales of € 473m (+5% yoy, +7% organic) in line with our estimate and consensus (both € 472m). Group operating EBIT came in at € 22.8m (4.8% margin), largely in line with our estimate (€ 23.5m, 5.0% margin) and consensus (€ 23.0m, 4.9% margin). Reported group EBIT was € 1m below operating EBIT at € 21.5m (4.5% margin) due to extra costs o...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.
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