GRAMMER AG : FY 2023 results not as bad as feared and further earnings progress in FY 2024
>Q4 2023 finally developed less bad than feared - Grammer’s FY 2023 reported group sales are +7% y-o-y to € 2.30bn (ODDO BHF: € 2.26bn) with an organic revenue growth of +10.4%. Top-line growth was driven by the regions EMEA (+7% y-o-y) and APAC (+25%), while sales in the Americas were slightly declining (-2%). In terms of customer industry, Automotive was up by 8% y-o-y and Commercial Vehicles by 4%. Grammer’s FY 2023 group adj. EBIT is +60% y-o-y to € 57m (ODDO-BHF:...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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