Release of inside information pursuant to Article 17 of Regulation (EU) No. 596/2014
GRAMMER AG (WKN 589540, ISIN DE0005895403)
GRAMMER AG: Revenue and earnings development in the first quarter of 2023 significantly above previous year's level
Ursensollen, April 18, 2023 - Based on preliminary figures, GRAMMER AG is reporting revenue and earnings development in the first quarter of 2023 that is significantly above the previous year's level. Accordingly, Group revenue in the past quarter was around EUR 589 million (Q1 2022: EUR 515.0 million), earnings before interest and taxes (EBIT) were around EUR 11.7 million (Q1 2022: EUR -1.2 million) and operating EBIT was around EUR 14 million (Q1 2022: EUR -2.5 million).
All regions contribute to the improvement in revenue and earnings. In particular, stable results were achieved again in APAC, after the region had been heavily impacted by COVID-19-related lockdowns in China, high freight costs in Japan and ramp-up costs for new plants in the previous year. In addition, the first quarter of 2023 also saw progress in the measures initiated as part of the P2P restructuring project in the AMERICAS region. The EMEA region also developed positively.
The Executive Board currently continues to adhere to the full-year forecast published in the annual report (Group revenue: around EUR 2.2 billion; operating EBIT: around EUR 70 million). As in the previous year, a significantly stronger second half of the year is again expected in 2023.
The quarterly statement for the first quarter of 2023 will be published on April 27, 2023.