Grammer Group has posted nine-month revenue up 5.8% to EUR1.34bn (US$1.6bn) with a rise in operating EBIT of 23.4%.
The Grammer Group grew in all regions in the first nine months. In its domestic EMEA market, Grammer achieved a small 1.5% increase in revenue to EUR919.4m (2016: 906.1). The greatest growth was recorded in the Americas, where revenue climbed by 20.3% to EUR216.6m (2016: 180.1) APAC revenue also grew very substantially by 13.3% to EUR202.9m (2016: 179.1).
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“The exceptional challenges this year have been mastered very well by all employees and we could achieve important strategic and operational milestones,” said Grammer CEO, Hartmut Müller.
“However, order intake for new project remained unsatisfactory in the third quarter and has impacted operative earnings. Even so, we were generally able to improve our operating performance substantially and are well positioned for further profitable growth.”
Grammer still expects to achieve strong operating EBIT in 2017 as a whole, in excess of the previous year’s level. Even so, the Grammer Group’s operating EBIT margin will no longer reach the target of around 5%, although it should still exceed the previous year’s figure of 4% slightly.
At this stage, an adjustment to the medium-term forecast for the Grammer Group is not necessary, noted the supplier.
