GRAMMER AG : H1 2024 less bad than we had feared and confirming the lowered FY 2024 outlook
>Hit by tough market conditions in H1 2024 - Grammer’s H1 2024 reported group sales are -5% y-o-y to € 1.12bn (+1% vs ODDO BHF), mainly driven by a 12% y-o-y decline of sales in EMEA, while growth in APAC and the Americas (both +3% respectively) could only partly compensate. Looking by customer segment H1 2024 sales to Automotive customers are flat y-o-y, while higher-margin Commercial Vehicles sales are -14% y-o-y. Group adj. EBIT is -42% y-o-y to € 15.6m (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.
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.