ONE GRAMMER
Interim Financial Report January to June 2021
Revenue
972.5 million euros
EBIT margin
2.9%
Operating EBIT margin
3.3%
Employees by region1 | |
EBIT | Annual average |
27.8 | APAC |
AMERICAS | |
4,700 | |
million euros | 1,336 |
Capital expenditure | 14,143 |
30,7 | EMEA |
7,672 | |
million euros | 1 The average number of employees in Central Services |
stood at 435. |
Revenue by region2 in million euros
AMERICAS 247.2
APAC 206.5
972.5
EMEA 562.0
2 Consolidation effects on revenue between the regions came to 43.2 million euros.
Equity ratio
23.0%
Net profit
18.2 million euros
Free cash flow
-54.4 million euros
Company profile
GRAMMER AG, headquartered in Ursensollen, Germany, is active in two business segments: GRAMMER develops and supplies high-quality interior and operating systems as well as innovative thermoplastic components for the global automotive industry. For trucks, trains, buses, and off-road vehicles, GRAMMER is a full-service provider of driver and passenger seats. Cur- rently, GRAMMER AG employs around 14,000 people in 19 countries world- wide, with revenue of around 1.7 bil lion euros in 2020. GRAMMER shares are listed in the Prime Standard and traded on the Munich and Frankfurt stock exchanges as well as via the Xetra electronic trading system.
Revenue by quarter in million euros
503.7 | 468.8 | 461.7 | 513.2 |
454.9 | |||
280.9 | |||
Q1 | Q2 | Q3 | Q4 |
2020 | 2021 |
Operating EBIT by region | ||
AMERICAS | EMEA | APAC |
-23.7 | 34.7 | 31.0 |
million euros | million euros | million euros |
GRAMMER Interim Financial Report January to June 2021 | Dashboard | 2 |
Overview of business performance
- The significant recovery in business performance continued in the first half under review.
- However, business performance in the AMERICAS and EMEA was adversely affected by supply-chain constraints for semicon ductors and higher commodity prices.
- The GRAMMER Group's revenue rose substantially in the first half of 2021 by 32.2% to 972.5 million euros (01-06 2020:
- million euros). Worldwide, both divisions - Automotive and Commercial Vehicles - recorded a 28.9% and 38.9% increase in revenue, respectively.
- This favorable performance was particularly driven by the strong revenue growth of 43.0% in APAC to 206.5 million euros (01-06 2020: 144.4 million euros).
- EMEA generated revenue of 562.0 million euros (01-06 2020:
- million euros), equivalent to growth of 28.0%.
- Revenue in the AMERICAS came to 247.2 million euros in the first half of 2021 (01-06 2020: 185.6 million euros), thereby rising by 33.2% over the same period in the previous year.
- Operating EBIT improved substantially in the first half of 2021, rising to 32.4 million euros (01-06 2020: -45.7 million euros), equivalent to an operating EBIT margin of 3.3% (01-06 2020: -6.2%). EBIT came to 27.8 million euros (01-06 2020: -53.0 million euros).
- Solid capital structure: Equity increased by 9.8% to
332.0 million euros (December 31, 2020: 302.2 million euros), with total assets rising by 69.6 million euros to 1,446.0 million euros (December 31, 2020: 1,376.4 million euros). As a result, the equity ratio improved to 23.0% (December 31, 2020: 22.0%). - Disposal of a subsidiary in Spain under the planned location consol- idation strategy to reinforce competitiveness on a sustained basis resulted in a one-time exceptional charge of the second quarter.
- Virtual annual general meeting 2021: All items on the agenda, including the resolution to create new authorized capital and to approve the remuneration system, were passed.
-
Outlook for 2021 confirmed: For the year as a whole, the GRAMMER Group expects revenue of around 1.8 billion euros (2020: 1.7 billion euros) and operating EBIT of around
65 million euros (2020: -11.7 million euros).
GRAMMER Interim Financial Report January to June 2021 | Overview of business performance | 3 |
Contents
Dashboard | 2 |
Overview of business performance | 3 |
A | Interim Group Management Report | |
1. Economic environment | 6 |
2. GRAMMER Group key figures | 7 |
3. Business performance in the first half of 2021 | 8 |
4. Results of operations | 9 |
5. Performance by region | 10 |
6. Net assets and financial position | 1 1 |
7. Capital expenditure | 12 |
8. Cash Flow Statement | 12 |
9. Employees | 12 |
10. Opportunities and risks | 13 |
11. Outlook | 13 |
12. Forward-looking Statements | 13 |
13. Responsibility Statement | 13 |
B | Interim Consolidated Financial Statements
for the first half of the year | |
Consolidated Statement of Income | 15 |
Consolidated Statement of Comprehensive Income | 16 |
Consolidated Statement of Financial Position | 17 |
Consolidated Statement of Changes in Equity | 19 |
Consolidated Statement of Cash Flows | 21 |
C | Notes to the Interim Consolidated Financial | |
Statements for the first half of the year | 23 |
D | Key figures according to IFRS | |
GRAMMER Group - Quarterly overview | 33 |
Financial Calendar 2021/Contact/Imprint | 35 |
GRAMMER Interim Financial Report January to June 2021 | Overview of business performance | 4 |
A | Interim Group Management Report
GRAMMER Interim Financial Report January to June 2021 | Overview of business performance | 5 |
Attachments
- Original document
- Permalink
Disclaimer
Grammer AG published this content on 11 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2021 07:30:09 UTC.