ots Ad hoc-Service: Grammer AG <DE0005895403>
AMBERG (ots Ad hoc-Service) -
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Grammer posts strong increase in both sales and earnings as at September 30 EBIT for the whole of 2000 now expected to reach DM 45 million to DM 50 million
Amberg, November 14, 2000 - The positive business trend at Grammer AG (Amberg), has been maintained for third quarter, 2000. The manufacturer of seats, seating systems and automotive equipment with a global footprint boosted Group business volume by 23 percent to DM 965.1 million (prior year: DM 786.5 million). Earnings before interest and tax (EBIT) jumped to DM 42.6 million (prior year: DM -1.8 million), while profit on ordinary activities was also appreciably higher at DM 20.4 million, compared with DM -12.9 million in the comparable period a year earlier. Earnings per share likewise rose from DM - 2.87 last year to DM 1.75, calculated in line with DVFA/SG.
Against the background of this gratifying development, Grammer AG has raised its existing earnings forecast for 2000. Depending on the demand for cars in December, Grammer now expects Group earnings before interest and tax of DM 45 million to DM 50 million (prior year: DM -4.8 million) for the whole year. As for Group revenue, Grammer continues to pursue a target figure of DM 1.25 billion, which corresponds to a 13 percent rise on last year's amount (DM 1.1 billion).
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Original-Content von: Grammer AG, übermittelt durch news aktuell