Publication of inside information pursuant to Article 17 of Regulation (EU) No. 596/2014
GRAMMER AG (WKN 589540, ISIN DE0005895403)
GRAMMER AG: Forecast for 2024 financial year adjusted
Ursensollen, August 9, 2024 – Based on the business trend to date, GRAMMER AG’s earnings performance has fallen short of expectations. This means that the current full year operating EBIT forecast of around EUR 75 million cannot be achieved from today’s point of view. The company now expects operating EBIT to come in at the same level as in the previous year (2023: EUR 56.8 million). Group revenue for the full year 2024 is expected to be slightly below the previous year’s level (2023: EUR 2,304.9 million) and therefore below the projected level of around EUR 2.3 billion.
GRAMMER AG’s adjusted forecast is primarily attributable to negative volume effects. Moreover, volatile plant capacity utilization, high costs for product launches and personnel as well as lower productivity also had an adverse impact on GRAMMER AG’s operating EBIT. The initiatives launched in the context of the Top 10 Measures program aimed at increasing the company’s profitability cannot fully compensate for these effects.
The interim report for the period from January to June 2024 will be published on August 14, 2024.
The Executive Board
GRAMMER AG