GRAMMER AG : Preliminary Q2 2020 group EBIT in underlying terms in line with our expectations
>Preliminary Q2 2020 group EBIT in underlying terms in line with our expectations - Last week, Grammer released preliminary Q2 2020 figures on group level (13 July). Q2 2020 preliminary group sales declined 46% y-o-y to € 281m on the back of plant shutdowns at basically all relevant OEMs as well as due to substantial reduction in customer call-offs. Preliminary group EBIT for Q2 2020 came in at -€ 50m and reflects -17.8% margin (Q2 2019: € 26m, 5.1% margin) and € 24m ...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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