August 7, 2018 / 5:47 AM / 8 days ago

Grammer warns of H2 risks from new anti-pollution tests

Aug 2 (Reuters) - German automotive interiors maker Grammer confirmed its full-year guidance, but pointed to risks from the introduction of new anti-pollution tests.

Grammer expects its 2018 revenue to reach 1.85 billion euros ($2.14 billion) but said the switch to the Worldwide Harmonized Light Duty Vehicles Test Procedure (WLTP) could have a negative impact on sales at its in Automotive Division in the second half of the year.

It posted 2 percent rise in revenue in the first half of 2018 to 927.6 million euros helped by strong business at its Commercial Vehicles Division but also improved revenue development in the Automotive Division.

The results come a day after the extended acceptance period for a takeover offer by Ningbo Jifeng ended, with the Chinese investor holding 45.58 percent of shares in Grammer.

The second biggest investor — Bosnia’s Hastor family — holds 19 percent of shares. ($1 = 0.8657 euros) (Reporting by Daria Kowalewska Editing by Maria Sheahan)

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