GRAMMER AG Reports Challenging Nine-Month Results for 2024

GRAMMER AG has announced its financial results for the first nine months of 2024, highlighting a decrease in revenue by 4.0% to EUR 1,472.0 million. Economic challenges and a crisis in the automotive sector significantly impacted the business, especially in the EMEA region, where revenue fell by 11.9% to EUR 810.8 million.

The company's operating EBIT decreased to EUR 38.0 million due to reduced revenue and heightened costs from the new North American Commercial Vehicles plant. Non-recurring expenses, including restructuring costs and the sale of the TMD Group, led to an EBIT of EUR -2.4 million.

Despite the downturn in EMEA, the APAC region saw a slight revenue growth of 3.2%, with the Chinese automotive sector contributing significantly. Meanwhile, AMERICAS experienced an 11.1% revenue increase, aided by the divestiture of the TMD Group.

GRAMMER AG remains committed to restructuring and strategic shifts to navigate the ongoing economic challenges and improve profitability.