Release of inside information pursuant to Article 17 of Regulation (EU) No. 596/2014
GRAMMER AG (WKN 589540, ISIN DE0005895403)
GRAMMER AG: Earnings development deviates from the previous year's level in the third quarter of 2023
- Full-year forecast of Group revenue of around EUR 2.2 billion and operating EBIT of around EUR 70 million confirmed
Ursensollen, October 10, 2023 - Based on preliminary figures, GRAMMER AG's earnings performance in the third quarter of 2023 was below the previous year's level. Earnings before interest and taxes (EBIT) of around EUR 12.0 million (Q3 2022: EUR 15.0 million) and operating EBIT of around EUR 11.5 million (Q3 2022: EUR 14.2 million) in the third quarter of 2023 are below the previous year's level. Operating EBIT was adjusted for expenses for restructuring measures in the AMERICAS region of around EUR 0.4 million and for positive currency effects in the amount of approximately EUR 0.9 million. In contrast, Group revenue in the months of July to September 2023 was at the same level as in the same period of the previous year at around EUR 561.9 million (Q3 2022: EUR 558.6 million).
Despite the quarterly deviation, GRAMMER's operating performance in the first nine months of 2023 based on preliminary figures is significantly better than in the same period of the previous year, with revenue of around EUR 1,734.5 million (01-09 2022: EUR 1,593.2 million) and operating EBIT of around EUR 38.4 million (01-09 2022: EUR 1.9 million). Accordingly, the Executive Board maintains the full-year forecast for 2023 published in the Annual Report (Group revenue: around EUR 2.2 billion; operating EBIT: around EUR 70 million). As in the previous year, a strong fourth quarter is again expected in 2023.
The interim report for the third quarter and the first nine months of 2023 will be published on October 30, 2023, as announced.
The Executive Board
GRAMMER AG