http://www.grammer.com/ GRAMMER AG Latest News en http://www.grammer.com/fileadmin/default/templates/images/ico/rss.gif http://www.grammer.com/ 15 15 GRAMMER AG Latest News TYPO3 - get.content.right http://blogs.law.harvard.edu/tech/rss Wed, 15 May 2013 10:27:00 +0200 http://www.grammer.com/en/media/news/article/grammer-ag-platziert-schuldscheindarlehen-ueber-90-millionen-euro.html?no_cache=1&cHash=6fb699f6b806cb78391682215cf47155 New issue replaces debenture bond issued in 2006 High rate of oversubscription underlines the... New issue replaces debenture bond issued in 2006
High rate of oversubscription underlines the finacial solidity
of Grammer Group

Amberg, May 15, 2013 – Grammer AG has successfully issued a debenture bond with a total volume of EUR 90 million. The offering was greeted with more than threefold oversubscription. As a result of the high demand, the originally planned volume was increased by 20 percent to now EUR 90 million.
The new debenture bond features four separate tranches with maturities of up to six years and paying either a fixed or a variable rate of interest. It replaces an existing debenture bond issued in 2006. Among the investors in the new financing are both domestic and international banks as well as institutional investors.
The placement of the debenture bond is part of the planned Grammer long-term financing strategy, which, among other goals, includes an expansion of the creditor base and further improves the maturity structure.
“The strong demand and high rate of oversubscription of the new debenture bond underlines the solidity of Grammer Group’s financing and attractiveness of our company within the capital market” , says CFO Volker Walprecht. “After last year’s prolongation of our global credit facility and the successful placement of the new debenture bond, we have increased our financial options significantly.  We now have sufficient financial power for our organic growth targets and for further strategic investments”, explains Hartmut Mueller, CEO of Grammer Group. Download Press Release as PDF]]> Wirtschaftspresse Wed, 15 May 2013 10:27:00 +0200 http://www.grammer.com/en/media/news/article/konzernumsatz-und-operatives-ergebnis-im-ersten-quartal-deutlich-ueber-vorjahr.html?no_cache=1&cHash=e3da75e97385e06af042e01e5fa47e8a Group revenue in Q1 up 9.1 percent to EUR 308.4 million EBIT and EBIT margin improve... Group revenue in Q1 up 9.1 percent to EUR 308.4 million
EBIT and EBIT margin improve year-over-year
Continued high order volumes in both divisions

Amberg, May 08, 2013 – With revenue growth of 9.1 percent year-over-year, Grammer Group is off to a strong start in fiscal year 2013. In total, Group revenue in the first quarter of 2013 increased to EUR 308.4 million (2012: 282.7), the highest quarterly amount ever achieved by Grammer. The majority of this positive development is attributable to the Automotive division, where revenues were up 14 percent to EUR 193.7 million (2012: 169.9). Contributing to this were the takeover of Nectec s.r.o., new product launches in 2012 and the still positive sales figures of premium car manufacturers. In our second division, Seating Systems, revenue improved slightly from the already strong prior-year level to EUR 119.6 million (2012: 117.9).

At Group level, operating profit (EBIT) in the first quarter of 2013 was roughly 12 percent higher than in the first quarter 2012 at EUR 13.8 million (2012: 12.3). Accordingly, the EBIT margin increased to 4.5 percent (2012: 4.4). Net profit in the reporting period totaled EUR 8.0 million (2012: 8.0).

Revenue growth in all regions and markets
In the first quarter of 2013, Grammer Group saw revenue increases in all of its regional markets. In Europe, revenues increased by 6.6 percent, in the Americas by 12.4 percent and in the region Far East/Rest revenue growth reached as high as 17.8 percent. Revenue in Europe thus totaled EUR 207.1 million, followed by EUR 59.7 million in the Americas and EUR 41.5 million in Far East/Rest.

Recovery in Brazil, but European market slows Seating Systems
In the Seating Systems division, ongoing weak truck demand in Europe has taken its toll. The growth market China has also seen lower growth in the construction machinery segment. At the same time, Brazil has seen considerable sales growth as a result of a recovery in the local truck market. In the offroad segment, revenue has been stable at a high level in the first three months of this year. On the whole, the difficult situation in Europe has been compensated thanks to Grammer Group’s worldwide market position, so that revenue even increased slightly over the outstanding prior-year quarter. Revenue in the Seating Systems division was up slightly from EUR 117.9 million in Q1 2012 to EUR 119.6 million – an increase of 1.4 percent. Operating profit (EBIT) improved substantially to EUR 8.9 million (2012: 7.3), increasing the EBIT margin to 7.4 percent (2012: 6.2). This excellent performance is attributable to the market recovery in Brazil and lower launch costs for the new truck seat generation. On the other hand the result was burdened by the overall low truck demand in Europe and the related capacity underutilization of the manufacturing sites affected.

Automotive division contributes growth momentum
The Automotive division has once more generated strong revenue gains in the first three months of 2013, even compared to the already high prior-year levels. At EUR 193.7 million, the division topped the comparable period in 2012 by 14 percent (2012: 169.9). Despite declining new vehicle registration numbers, especially in Europe, Grammer products newly launched in 2012, along with continued strength in the export markets for premium vehicles and the acquisition of Nectec s.r.o. contributed substantial growth momentum. Operating profit of EUR 9.0 million (2012: 7.6) and an EBIT margin of 4.7 percent (2012: 4.5) also beat out the high levels seen in the prior-year quarter.

Higher equity due to positive business performance
As a result of the earnings performance, Grammer Group equity as of March 31, 2013 was up on a year-over-year basis to EUR 221.3 million (2012: 218.0). The equity ratio as of March 31, 2013 was 31 percent (2012: 33). Net debt was only slightly higher, despite the Nectec s.r.o. acquisition, at EUR 107.1 million (2012: 97.2).

Investment focused on new products
With the exception of the takeover of Nectec, Grammer invested EUR 7.2 million in the first quarter of 2013, somewhat less than in the comparable period last year (2012: 7.8). Of that a total of EUR 4.1 was invested in the Seating Systems division for the expansion of truck seat production. In the Automotive division, the majority of the investments of roughly EUR 3.0 million were spent in the buildup of production capacities for center consoles as a result of new orders received.

Outlook
In view of the business situation in the initial three months of 2013, and in light of the ongoing instability of the economic environment, the outlook for the performance of Grammer Group is cautiously positive.
Accordingly, its established international presence affords Grammer good chances for further growth and improved market positioning in core markets as the year progresses. On the whole, assuming stable economic conditions, revenue and operating profit are likely to see slight improvement year-over-year in 2013.

Note on prior-year figures:
Prior-year figures 2012 were adjusted to reflect application of IFRS 11 and the amended version of IAS 19. Download Press Release as PDF ]]> Wirtschaftspresse Wed, 08 May 2013 06:17:00 +0200 http://www.grammer.com/en/media/news/article/grammer-ag-starker-sitzkomfort-auf-grossen-baumaschinen.html?no_cache=1&cHash=cc1409bdd24840bd5eb2b6190a2f928b At bauma 2013 in Munich, Grammer is presenting a new, heavy-duty mechanical seat suspension for... At bauma 2013 in Munich, Grammer is presenting a new, heavy-duty mechanical seat suspension for large construction machines.
Amberg / April 16, 2013 - The standards of sitting comfort for modern construction machines can’t be high enough, because the physical demands placed on operators are exceptionally great. Their work - frequently done on sand, crushed stone, or rubble - often subjects them to extreme stresses.
A Grammer seat based on the new MSG 87 suspension gives operators of large excavators, wheel loaders, and dump trucks what they need. Intended for initial installation in new vehicles, it enables smoother, safer work that is easier on the back. The company set out to develop a highly robust, wide mechanical scissors-type suspension. The MSG 87 suspension can be combined with the proven S 700 seat top, which is available in many different versions, to create an innovative complete seat. The mechanical entry-level model extends Grammer’s product portfolio, joining the heavy-duty pneumatic suspension that has been available for a long time. These days most construction machines are equipped with control carrier consoles or multifunction armrests that are attached to the seat and move with it. And the new seat with interface is also fully up to this challenge: it can support a load of up to 20 kilos on each side. Its suspension stroke of 100 millimeters enables smooth driving, effectively absorbing vibrations and jolts. An integrated adjustment feature lets the height be varied over 80 millimeters, and any operator weight between 50 and 180 kilos can be set. The combined height/weight adjustment function is easy to use with a minimum of effort. The seat is optionally available with fore/aft isolator integrated in the suspension to optimally attenuate vibrations in the direction of travel without increasing the seat index point (SIP). Download Press Release as PDF]]> Fachpresse Tue, 16 Apr 2013 11:07:00 +0200 http://www.grammer.com/en/media/news/article/innovative-grammer-multifunktionsarmlehne-fuer-offroad-fahrersitze.html?no_cache=1&cHash=4981277cb5949f81892800cb333e5a35 At bauma 2013 Grammer AG will present an innovative multifunctional armrest that enables greater... At bauma 2013 Grammer AG will present an innovative multifunctional armrest that enables greater clarity and operating convenience
 
Amberg / April 16, 2013 - Electronic control systems and their software are integral parts of modern construction machines. And the complexity of the tasks they perform is continuing to grow; manufacturer-specific and user-friendly solutions are increasingly in demand. By combining electronic and ergonomic modules, Grammer has become the first leading seat producer able to offer its customers in the commercial vehicles industry driver seats in the form of complete systems that include integrated control units. The Grammer subsidiary Grammer EiA Electronics N.V. offers an innovatively designed component for upgrading the standard armrests of conventional Grammer driver seats to multifunctional armrests. These new armrests let the driver control both vehicle functions and any attachments. This opens up new prospects for manufacturers of both vehicles and attachments. Grammer EiA Electronics supplies all of the required hardware and software for the multifunctional armrest, which is ergonomically optimized for the corresponding Grammer seats. They allow flexible installation of joysticks, switches, knobs, buttons, etc. as required. Now vehicle manufacturers have the option of shifting controls from the cabin to the seat, where they move with the driver as the suspension responds to vibrations and jolts. For the driver, this translates into more comfortable, ergonomic, and straightforward work - letting him, for example, conveniently control vehicle functions or cameras. The new Grammer multifunctional armrest offers producers of attachments a standardized interface for connecting them to the driver seat. As a result, snow plows, street cleaning attachments, etc. can be easily integrated in the multifunctional armrest independently of the vehicle make and model. Download Press Release as PDF]]> Fachpresse Tue, 16 Apr 2013 11:01:00 +0200 http://www.grammer.com/en/media/news/article/grammer-eia-electronics-integrierte-loesungen-fuer-bedienkomfort-und-fahrzeugsteuerung.html?no_cache=1&cHash=432d0a4ef8553c8c802e81a0e8a9ead3 Grammer seats for construction machines with integrated control elements as a complete system will... Grammer seats for construction machines with integrated control elements as a complete system will be presented at bauma 2013 in Munich

Amberg / April 16, 2013 - Electronic control systems and the accompanying software are, after all, integral features in any modern vehicle. This applies, as much as anything else, to the driver seat of a construction machine, which serves as the main link between the operator and the technology. Manufacturer-specific and user-friendly solutions are increasingly in demand. In this environment, Grammer AG, leading supplier of automotive interiors and seating systems, has acquired Belgian electronics specialist EiA Electronics N.V. For more than 20 years, this high-tech company has marketed displays, control systems, multi-functional armrests, electronic control elements, communication modules and intelligent sensors.

Grammer EiA Electronics stands for customer-specific solutions
The new capabilities mean that Grammer is far more than just a producer of seats – it is now a total system supplier for driver workplaces and vehicle controls. With the acquisition of EiA Electronics, Grammer AG is broadening its technology base and making a targeted investment in the strengthening of its innovation leadership. The combination of electronic and ergonomic component groups marks the first time that a leading seat manufacturer is in a position to offer customers commercial vehicle driver seats with integrated control elements as a complete system. The focus of the company, and the main difference between it and other suppliers, lies in customer-specific solutions for off-highway vehicles. Grammer EiA Electronics doesn't deal in "plug & play" solutions. Rather, its experts integrate products specifically tailored to user needs. Thus, Grammer EiA Electronics functions like an extended engineering department for its customers. Its express aim is to be integrated as early as possible into the development process of its customers, in order to generate added value through intelligent control solutions in the cab.
Electronics meet ergonomics
At bauma 2013 Grammer EiA Electronics presents a wide range of displays, control systems, multi-functional armrests and electronic control elements. Through an intelligent merging of electronic with ergonomic components in its seating systems, Grammer now offers customers integrated and specialized solutions for optimum design of driver workplaces. These ensure the greatest possible comfort for drivers, as well as maximizing the potential from interaction between human and machine. Download Press Release as PDF]]> Fachpresse Tue, 16 Apr 2013 10:02:00 +0200 http://www.grammer.com/en/media/news/article/grammer-bleibt-in-schwierigem-marktumfeld-weiter-auf-der-ueberholspur.html?no_cache=1&cHash=2db8d2efeb038a1221bcb465894c017e Group revenue sets a new record at EUR 1.144 billion Net income up 10 percent Strong cash flow... Group revenue sets a new record at EUR 1.144 billion
Net income up 10 percent
Strong cash flow and significant reduction of net debt
Dividend proposal of EUR 0.50 per share

Amberg, March 27, 2013 – Grammer Group underscores its growth ambitions by setting a new revenue record once more in 2012. The global automotive supplier and leading manufacturer of seating systems for commercial vehicles generated worldwide revenue totaling EUR 1.144 billion, adding nearly 5 percent to last year’s record of EUR 1.094 billion. Operating earnings before interest and taxes (EBIT) in the reporting year totaled EUR 47.3 million, only slightly down from the very good prior-year level of EUR 49.4 million; despite planned startup costs for new truck seat generation and the dramatic decline in the Brazilian truck market.

After interest and taxes Grammer Group achieved a net income of EUR 24.4 million, which is 10.4 percent more than in 2011 (2011: 22.1). Earnings per share totaled EUR 2.17, markedly higher than the prior year (2011: 2.02).

Cash flow from operating activities increased as a result of the operating profit and optimization measures in working capital to EUR 62.9 million (2011: 58.0). And, free cash flow was also much improved at EUR 19.3 million (2011: 14.2).

Higher dividend proposed
As in the previous year, when Grammer distributed a dividend of EUR 0.40 per share for the first time since 2008, Grammer shareholders should benefit from the successful performance in 2012 business year as well. Consequently, the Executive and Supervisory Boards will propose to the Annual General Meeting the payment of a dividend in the amount of EUR 0.50 per share. “Through our good international presence, we were able to compensate for weakness in regional markets and improve our market position in a difficult environment,” says Hartmut Müller, CEO of Grammer AG. “As announced, we intend to see the owners of this company participate in this success.”


Performance varies regionally
Revenue growth varied regionally throughout the Group. In Europe, revenue increased by EUR 18.7 million to EUR 743.1 million (2011: 724.4), or 2.6 percent, despite considerable contraction in car and truck markets. Even with the unexpectedly severe decline in the Brazilian truck market, revenue in the Americas region was once more slightly higher in 2012, on the back of new production starts and a further recovery of the NAFTA markets, amounting to EUR 233.1 million (2011: 220.7). In Asia the business situation remains positive and revenue increased by 12.8 percent to EUR 167.4 million (2011: 148.4).

Automotive division benefits from focus on premium segment
The Automotive division, in which Grammer produces interior components for premium car manufacturers and automotive system suppliers, generated a revenue increase of 4.5 percent in 2012 to EUR 711.1 million (2011: 680.3). The contribution of the Automotive division to Group revenue increased slightly to 61.3 percent (2011: 60.8). This was carried largely by new production starts, strategic expansion of the center console product base and good sales numbers among German premium car manufacturers. Operating earnings before interest and taxes (EBIT) totaled EUR 30.5 million (2011: 26.9) and therefore continuing the positive trend of the prior years.

Moderate rise in Seating Systems revenue
The Seating Systems division, which develops seats for trucks, offroad vehicles, busses and trains, generated revenues of EUR 449.7 million (2011: 438.0) in a very difficult environment in 2012. As a result of planned startup costs for the new generation of truck seats and the unexpected downturn hitting the market in Brazil, earnings before interest and taxes (EBIT) suffered a small setback, falling from EUR 30.6 million to EUR 24.7 million in 2012.

Optimized Group financing
On the balance sheet date, December 31, 2012, the total assets of Grammer Group were higher at EUR 669.4 million (2011: 625.2), as a result of positive business development. Equity rose to EUR 228.0 million (2011: 211.2) and the equity ratio was held steady at a high level of 34 percent (2011: 34). As of December 31, 2012, the Group holds more than EUR 73.3 million in cash and equivalents, to be used primarily for the expansion of the Group’s M&A activities and to strengthen the business segments driving growth. Net financial liabilities were reduced substantially, by 17 percent to EUR 76.3 million (2011: 92.1). Accordingly, net gearing (the ratio of net debt to equity) was considerably lower at 33 percent (2011: 44 percent). “After the restructuring of the financing in 2011, Grammer has continued to further optimize financing costs and structures in order to sustainably strengthen the financial situation of the Group,” says Volker Walprecht, CFO of Grammer AG.

IFRS one-time equity effects announced for Q1 2013
As a result of revaluation of pension provisions due to changes in the IFRS accounting standard IAS 19 along with prospective application of IFRS 11 starting January 1, 2013 (“At Equity” consolidation of a joint venture), Grammer Group’s equity will see a one-off reduction by roughly EUR 16 million in the first quarter of 2013 with no effect on income. These new standards are being applied for the first time in the current fiscal year. An explanation will be included in the 2013 Q1 report.

Outlook 2013
In view of the business situation in the initial months of 2013 and in light of the ongoing instability of the economic environment, our outlook on the performance of GRAMMER Group is cautiously positive. At the start of the ongoing fiscal year, however, no full-scale economic recovery in Europe can be expected. For 2013, Grammer foresees a stable performance overall in the company’s core markets. Accordingly, its established international presence afford Grammer good chances for further growth and improved market positioning in core markets as 2013 progresses. Subject to stable economic conditions, overall sales and operative earnings should be slightly better than in the previous year. Download Press Release as PDF]]> Wirtschaftspresse Wed, 27 Mar 2013 06:15:00 +0100 http://www.grammer.com/en/media/news/article/grammer-baut-produktion-in-china-weiter-aus.html?no_cache=1&cHash=9e09bd939e93c3c65250d568826bcd28 New plant combines existing activities at Changchun site Additional front-end plant in... New plant combines existing activities at Changchun site
Additional front-end plant in Beijing for new center console orders
Expansion reflects positive development of business in China
Amberg (Germany) / Changchun (China), March 13, 2013 – Grammer AG is stepping up its activities in the world’s second-largest automotive market by establishing two new plants there. The leading supplier of interior components for premium car manufacturers and seating systems for commercial vehicles is about to inaugurate a new 24,000-square-meter plant in Changchun, China. In addition a “front-end” plant in Beijing has been already set-up earlier.
The new plant in Changchun unites the activities of three previously separate production facilities at a single location. This step will allow Grammer to benefit from optimized production flows and a sophisticated integrated manufacturing structure. At the new plant, 850 employees will make car interiors for both premium German manufacturers in China and local car producers. The new front-end plant in Beijing performs final assembly and sequencing of new center consoles projects for a premium German car maker in China. By the time it is fully implemented in 2014, it will have around 100 employees.
“Our investments and the new plants in China help us to grow locally with our customers,” said Hartmut Müller, CEO of Grammer AG. “At the same time, we are systematically strengthening our global presence in order to become more independent of regional market fluctuations.”
Grammer’s already good international positioning enabled the company to compensate the declines in some of its core markets in 2012 and set a new overall revenue record of 1.14 billion euros.

Now the Grammer Group is additionally ramping up its activities in China as part of its global growth strategy. The offensive also reflects the Chinese market’s growing importance for the globally active enterprise. China accounts for more than 10 percent of Group revenues, making it the second-most important country for the Grammer Group, after Germany.
Grammer is now represented at five locations in China. Its Automotive division has operations in Changchun, Beijing, and Shanghai, where Grammer also has an R&D center, and its Seating Systems division operates a plant in Tianjin. In addition, Grammer produces truck seats for the local market in Jiangyin within the scope of a German-Chinese joint venture (Grammer Seating Jiangsu). Download Press Release as PDF]]> Wirtschaftspresse Wed, 13 Mar 2013 08:24:00 +0100 http://www.grammer.com/en/media/news/article/uebernahme-des-kopfstuetzen-herstellers-nectec-durch-die-grammer-ag-genehmigt-und-vollzogen-1.html?no_cache=1&cHash=512044eb32b8553470975c2d9a407cea Acquisition strengthens leading position in headrest market Expanded range of innovative...

Acquisition strengthens leading position in headrest market

• Expanded range of innovative products and designs

Amberg, February 21, 2013 – The takeover of Czech Republic-based Nectec Automotive s.r.o. by Grammer AG has been completed following approval of the transaction by antitrust authorities. With the acquisition and integration of Nectec, Grammer further expands its strongest revenue-generating segment and strengthens its leading position in the European headrest market.
“We are very pleased to be teaming up with an innovative partner like Nectec. Together, we will continue to realize our vision of becoming a leading supplier in the automotive and commercial vehicle industry”, says Hartmut Müller, CEO of Grammer AG.
Grammer as the new owner will continue and expand operations in the Ceska Lipa (CZ) plant with the local Nectec employees as planned. Combining the product range and manufacturing locations of the two companies will further improve Grammer’s competitive position. At the same time, the deal opens up new growth opportunities for Grammer in the European premium segment. Nectec, with its innovative ideas and solutions, ideally enhances Grammer’s existing range of passive and active headrests and modules, making the company an even more attractive partner for automotive OEMs. Download Press Release as PDF]]> Wirtschaftspresse Thu, 21 Feb 2013 15:34:00 +0100 http://www.grammer.com/en/media/news/article/uebernahme-des-kopfstuetzen-herstellers-nectec-durch-die-grammer-ag-genehmigt-und-vollzogen.html?no_cache=1&cHash=57ebff3e550c335f34fb345f7fc5789f Ad hoc announcement pursuant to section 15 WpHGGRAMMER AG (WKN 589540, ISIN DE0005895403)Amberg,... GRAMMER AG (WKN 589540, ISIN DE0005895403)


Amberg, February 21, 2013 – The takeover of Czech Republic-based Nectec Automotive s.r.o. by Grammer AG has been completed following approval of the transaction by antitrust authorities.

With the acquisition and integration of Nectec, Grammer further expands its strongest revenue-generating segment and strengthens its leading position in the European headrest market. At the same time, the deal opens up new growth opportunities for Grammer in the European premium segment.


GRAMMER AG
Executive Board Download Ad hoc as PDF]]> Adhoc Mitteilungen Thu, 21 Feb 2013 15:24:00 +0100 http://www.grammer.com/en/media/news/article/grammer-ag-faehrt-erneuten-umsatzrekord-ein.html?no_cache=1&cHash=538caa434d7c364094a7e968bd29bc35 Revenue improves by more than 4 percent to EUR 1.140 bn. despite weaker market 2012 operating...

• Revenue improves by more than 4 percent to EUR 1.140 bn. despite weaker market

• 2012 operating profit at about EUR 47 million slighty higher than expectations

• Company again plans to pay a dividend

Amberg, February 19, 2013 – Grammer Group grew despite difficult car and truck markets in fiscal year 2012 to once more beat the prior year's revenue record. In all, preliminary figures for the global automotive supplier and leading manufacturer of seating systems for commercial vehicles show group revenue at EUR 1.140 billion – an increase of more than four percent from record year 2011 (2011: 1.093).

Despite planned one-time startup costs for new products and the unexpectedly drastic slowdown of Brazil's commercial vehicle market in 2012, Grammer was able to achieve an good operating result and ended up in exceeding expectations slightly. The preliminary figure for earnings before interest and taxes (EBIT) at about EUR 47 million was just slightly lower than last year (2011: 49.4).

In the fourth quarter, according to the preliminary numbers, Grammer generated group revenues of EUR 281 million, matching the high levels seen in the preceding quarters (Q4 2011: 283.1). Operating profit of roughly EUR 13 million in the fourth quarter was the highest in any quarter of 2012 (Q4 2011: 13.4).

Market position continues to improve
“Our new, innovative products allowed us to continue improving our market position in a difficult environment. Overall, we are very satisfied with the performance of the company in fiscal year 2012. Thanks to our broad international footing, we were able to compensate for the sometimes drastic slowdowns in our core markets and achieve further growth,” says Hartmut Müller, CEO of Grammer AG.

Revenue in the Automotive division totaled EUR 710 million in 2012 – an increase of nearly 5 percent over record year 2011 (2011: 680.3). Revenue in the Seating Systems division improved by more than two percent compared to prior year to EUR 448 million (2011: 438.4).


The focus on the premium segment, good international positioning and investments in new products allowed Grammer to grow its Automotive business in opposition to the general market trend. Grammer’s Seating Systems division saw revenues increase based on a global market position and the successful launch of the new truck seat generation. This was accomplished despite the overall market deterioration, in particular the significant slowdown in one of Grammer’s most important markets, the Brazilian truck market.

Dividend planned
Based on the positive earnings, Grammer intends to once more ensure that its shareholders participate in the success of the business by paying a dividend again in 2012. The Executive and Supervisory Boards of Grammer AG will decide on the amount of the dividend proposal in March.

Outlook 2013
For the early part of this year no broad recovery of the economy can be expected. However, Grammer foresees a stable development overall in the company’s core markets. Accordingly, due to its international presence and new products Grammer has good chances in 2013 for further growth and improved market positioning in core markets. The complete Grammer AG 2012 Annual Financial Statements will be published on March 27, 2013. Download Press Release as PDF]]> Wirtschaftspresse Tue, 19 Feb 2013 06:14:00 +0100