GRAMMER AG : We remain cautious and continue to expect a prolonged recovery, capital increase to reduce leverage
>Final Q3 2020 results in line with preliminaries - Grammer last week released final Q3 2020 results, in line with the preliminaries as of 12 October except for a slight upward revision of group sales (+1%). Preliminary Q3 2020 results clearly beat our expectations on op. EBIT. Final Q3 2020 group sales came to € 462m (-7% y-o-y), reflecting a sequential improvement vs a soft Q2 2020 in both automotive and commercial vehicles. Final Q3 2020 group EBIT was € 6m (1...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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