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Grammer AG (GMMG.DE)

GMMG.DE on Xetra

50.45EUR
22 Jun 2017
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Latest Key Developments (Source: Significant Developments)

Hastor family's Cascade says has no plans to hike Grammer stake
Wednesday, 24 May 2017 06:45am EDT 

May 24 (Reuters) - Grammer shareholder Cascade, controlled by the Bosnia's Hastor family, at Grammer AGM::Shareholder cascade says at agm has no plans to increase or reduce stake in grammer or take over the company.Says that Grammer will in future have to accept any price that its customer Volkswagen <<>> names.  Full Article

Grammer CEO says order book still well filled for now
Wednesday, 24 May 2017 06:04am EDT 

May 24 (Reuters) - Grammer CEO at AGM:Says aims to use proceeds from mandatory convertible bond for small acquisitions in electronics and to strengthen North America presence.Says trends like autonomous driving hold enormous potential for interiors suppliers.Says company currently has more than 100 development projects.Affirms EBIT margin to rise to 7 percent by 2021.Says could imagine acquisitions in interiors in near future.Says margin on headrests to grow thanks to partnership with Chinese.Says Brazil's commercial vehicle market could surprise with slight growth for the first time in five years in 2017.Says order intake decline of over 300 million eur equates to lost revenues of 50 million eur/year from 2019 if no new orders come in.Says order books still well filled at the moment.Says shareholder Cascade's conduct is causing concern that it is pursuing only its own goals.  Full Article

Unit of Ningbo Jifeng Auto Parts' major shareholder owns stake in Germany's Grammer
Tuesday, 23 May 2017 06:03am EDT 

May 23 (Reuters) - Ningbo Jifeng Auto Parts Co Ltd <603997.SS>:Says major shareholder Wing Sing international's unit JAP Capital owns 15.1 percent stake in Germany's Grammer <<>> via holdings in convertible bonds, share purchase.  Full Article

Grammer: Court dismisses injunction petitioned by Prevent Group
Friday, 19 May 2017 09:33am EDT 

May 19 (Reuters) - GRAMMER AG ::COURT REVERSES INJUNCTION IMPOSED ON GRAMMER.REGIONAL COURT OF NUREMBERG-FÜRTH DISMISSES INJUNCTION PETITIONED BY PREVENT GROUP.PLACEMENT OF MANDATORY CONVERTIBLE BOND ISSUE TO STRATEGIC PARTNER WAS LAWFUL.FURTHER CONFIRMATION OF LEGAL OPINION HELD BY GRAMMER.  Full Article

Grammer: Court dismisses Cascade's request to to convene EGM
Wednesday, 17 May 2017 10:47am EDT 

May 17 (Reuters) - GRAMMER AG :ACCOMPLISHES KEY STAGE WIN BEFORE ANNUAL GENERAL MEETING.HIGHER REGIONAL COURT OF NUREMBERG DISMISSES CASCADE'S REQUEST TO CONVENE EXTRAORDINARY GENERAL MEETING WITH FINAL AND BINDING EFFECT.SUPPLEMENTARY MOTIONS ALLOW NO MORE THAN THREE SUPERVISORY BOARD MEMBERS TO BE ELECTED.GRAMMER'S EXECUTIVE BOARD AND SUPERVISORY BOARD OPEN TO FURTHER NEGOTIATIONS.  Full Article

Ningbo plans to obtain further Grammer voting rights
Tuesday, 16 May 2017 09:18am EDT 

May 16 (Reuters) - Grammer AG says :Ningbo Jifeng's JAP intends to obtain further Grammer voting rights over next twelve months through acquisition or by other means.  Full Article

Grammer Q1 net profit up 89.2 pct at 14 million euros
Monday, 15 May 2017 12:59am EDT 

May 15 (Reuters) - GRAMMER AG ::Q1 7.5 PERCENT INCREASE IN REVENUE TO EUR 458.0 MILLION.Q1 52.0 INCREASE IN EBIT TO EUR 22.5 MILLION.Q1 NET PROFIT AFTER TAX WAS ALSO UP SHARPLY, RISING BY 89.2 PERCENT TO EUR 14.0 MILLION (2016: 7.4).EXPECTS FULL-YEAR GROUP REVENUE TO RISE SUBSTANTIALLY BY AROUND 5 PERCENT OVER PREVIOUS YEAR IN 2017.ALSO SEES FY FURTHER CLEAR INCREASE IN GROUP'S OPERATING EBIT COMPARED WITH PREVIOUS YEAR TO AROUND 5 PERCENT.ON BASIS OF FIGURE FOR 2017 AS A WHOLE, GRAMMER EXPECTS REVENUE TO INCREASE TO OVER EUR 2.2 BILLION BY 2021, WITH EBIT MARGIN REACHING AROUND SEVEN PERCENT.  Full Article

Grammer says regional court has lifted enforcement of interim injunction against Grammer
Tuesday, 25 Apr 2017 11:16am EDT 

April 25 (Reuters) - Grammer Ag :Regional Court of Nuremberg-Fürth has lifted the enforcement of the interim injunction against Grammer AG.German Federal Cartel Office has also confirmed that acquisition of Grammer shares by an associated company of Ningbo Jifeng is not subject to approval.All obstacles to issue of shares to strategic partner have now been cleared.  Full Article

Grammer says has identified takeover targets, could announce buy in upcoming months
Wednesday, 29 Mar 2017 06:03am EDT 

Grammer Ag : Grammer ceo says has identified 4 takeover targets, could announce buy in upcoming months . Grammer ceo says wants to build new product groups via acquisitions, already has something on radar . Grammer says medium-term target is for ebit margin of 7 percent . Grammer says wants to increase sales to over 2.2 billion eur by 2021 Further company coverage: [GMMG.DE] ((frankfurt.newsroom@thomsonreuters.com; +49 69 7565 1270;)).  Full Article

Grammer FY revenue up at 1.7 billion euros
Wednesday, 29 Mar 2017 12:54am EDT 

Grammer AG : Dividend up 71 percent to 1.30 euros per share . Outlook for 2017: further growth accompanied by rising profitability . FY revenue of 1.696 billion euros ($1.83 billion)(2015: 1.426 billion euros) . FY consolidated net profit after tax almost doubled to 45.2 million euros (2015: 23.8 million euros) . FY earnings per share also climbed significantly to 4.01 euros (2015: 2.10 euros) . FY earnings before interest and taxes (EBIT) rose by a disproportionately strong 71 percent to 73.0 million euros (2015: 42.7 million euros) thanks to positive effects from systematic implementation of cost- and process-optimization measures . Looking forward to 2017, it projects moderate growth in its core business and, provided that exchange rates remain stable, is expecting revenues of more than 1.75 billion euros .Operating EBIT in 2017 should exceed figure for 2016, with EBIT margin set to rise again to around 5 percent.  Full Article

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BRIEF-Grammer: Court dismisses injunction petitioned by Prevent Group

* REGIONAL COURT OF NUREMBERG-FÜRTH DISMISSES INJUNCTION PETITIONED BY PREVENT GROUP