GRAMMER AG: Earnings development in first quarter of 2022 significantly below prior-year level
The main reasons for the decline in earnings continue to be significantly increasing material, logistics and energy costs, new corona lockdowns, which affect the Chinese market, as well as ongoing bottlenecks in the supply markets. In addition, one-time expenses, and special freights of around EUR 4 million at a GRAMMER plant in the AMERICAS region had an impact.
Despite the lower-than-expected first quarter, the Executive Board currently maintains its full-year guidance published in the Annual Report. Risks to GRAMMER Group’s revenue and earnings from the war in Ukraine and ongoing corona lockdowns in China may intensify depending on their length and further course and could have a negative impact on the guidance.
The Q1 statement will be published on April 28, 2022.
Grammer AG
Grammer-Allee 2
92289 Ursensollen
Telefon: +49 (9621) 66-0
Telefax: +49 (9621) 66-1000
http://www.grammer.com
Investor Relations
Telefon: +49 (9621) 66-1575
Fax: +49 (9621) 66-31575
E-Mail: Gabriele.Reitzig@grammer.com
Investor Relations
Telefon: +49 (9621) 66-2113
E-Mail: Tanja.Buecherl@grammer.com
