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Grammer AG (GMMG.DE)

GMMG.DE on Xetra

37.92EUR
22 Jan 2019
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Latest Key Developments (Source: Significant Developments)

Grammer 9-month Net Profit Down At EUR 14.9 Million
Tuesday, 13 Nov 2018 

Nov 13 (Reuters) - Grammer AG ::FURTHER INCREASE IN REVENUE BUT EXCEPTIONAL EFFECTS AND WEAKER PASSENGER VEHICLE SALES EXERTED PRESSURE ON GROUP EARNINGS IN THE THIRD QUARTER.Q3 REVENUE ROSE 1.5 PERCENT TO 1.36 BILLION EUR.FULL-YEAR GUIDANCE FOR 2018 ADJUSTED.9-MONTH EBIT CAME TO AROUND EUR 27.9 MILLION FALLING SHORT OF PREVIOUS YEAR'S FIGURE OF EUR 45.8 MILLION.9-MONTH NET PROFIT CAME TO EUR 14.9 MILLION, FALLING SUBSTANTIALLY SHORT OF PREVIOUS YEAR (2017: 25.7).FULL-YEAR GROUP REVENUE SHOULD REACH AROUND EUR 1.85 BILLION IN 2018.REVENUE SHOULD REACH AROUND EUR 1.85 BILLION IN 2018.BOARD NOW EXPECTS FY EBIT OF ABOUT EUR 50 MILLION AND OPERATING EBIT SLIGHTLY BELOW PREVIOUS YEAR.LOOKING AHEAD TO 2019, GRAMMER PROJECTS RENEWED GROWTH IN REVENUE AND EARNINGS.  Full Article

Members Of Executive Board Of Grammer AG Announce Exit Following Takeover By Ningbo Jifeng
Monday, 24 Sep 2018 

Sept 24 (Reuters) - Grammer AG ::MEMBERS OF THE EXECUTIVE BOARD OF GRAMMER AG ANNOUNCE EXIT FOLLOWING THE TAKEOVER BY NINGBO JIFENG.SUBSTANTIAL SHIFT IN SHAREHOLDER STRUCTURE DUE TO 85-PERCENT STAKE HELD BY MAJORITY SHAREHOLDER NINGBO JIFENG.BUSINESS COMBINATION AGREEMENT SIGNED IN CONNECTION WITH TENDER OFFER WILL CONTINUE TO APPLY INDEPENDENT FROM CHANGES TO EXECUTIVE BOARD.ACCORDING TO NINGBO JIFENG, CO CURRENTLY DOES NOT INTEND TO FILL MORE THAN TWO SEATS OF SUPERVISORY BOARD.  Full Article

Grammer AG Says CEO Hartmut Müller Intends To Resign As Member Of Executive Board
Monday, 24 Sep 2018 

Sept 24 (Reuters) - Grammer AG ::CHANGES WITHIN THE EXECUTIVE BOARD OF GRAMMER AG.GRAMMER- CEO HARTMUT MÜLLER INFORMED CHAIRMAN OF SUPERVISORY BOARD, DR.-ING. KLAUS PROBST, THAT HE INTENDS TO RESIGN AS MEMBER OF EXECUTIVE BOARD.MÜLLER WILL FULLY REMAIN IN OFFICE AS CHIEF EXECUTIVE OFFICER UNTIL DATE OF HIS DEPARTURE.SUPERVISORY BOARD WILL IMMEDIATELY START A PROCESS TO FIND SUITABLE CANDIDATES AS SUCCESSORS.CORDONNIER AND PRETSCHER WILL FULLY REMAIN IN OFFICE AS MEMBERS OF EXECUTIVE BOARD UNTIL THEIR DEPARTURE.  Full Article

Grammer H1 EBIT At EUR 41.9 Mln
Tuesday, 7 Aug 2018 

Aug 7 (Reuters) - GRAMMER AG ::FURTHER INCREASE IN REVENUE AND EARNINGS IN THE FIRST HALF OF 2018.H1 EBIT 41.9 MILLION EUR.H1 REVENUE 927.6 MILLION EUR.GROUP REVENUE EUR 927.6 MILLION IN FIRST HALF OF 2018 (2017: 908.0).FULL-YEAR GUIDANCE FOR 2018 CONFIRMED.ACCEPTANCE PERIOD FOR TAKEOVER OFFER BY NINGBO JIFENG ENDED ON AUGUST 6, 2018.BIDDER ANNCOUNCED NOW HOLDS 45.58 PERCENT OF GRAMMER SHARES ISSUED.  Full Article

Ningbo Jifeng Auto Parts' Share Trade Still Suspended Due TO Talks To Buy Germany's Grammer
Friday, 27 Jul 2018 

July 27 (Reuters) - Ningbo Jifeng Auto Parts Co Ltd <603997.SS>::SAYS SHARE TRADE REMAINS SUSPENDED AS THE COMPANY IS STILL IN DISCUSSIONS TO BUY GERMANY'S GRAMMER AG <<>> VIA CASH, SHARE ISSUE.  Full Article

Ningbo Jifeng's Majority Shareholder Wang Lowers Acceptance Threshold For Grammer AG Takeover
Wednesday, 18 Jul 2018 

July 18 (Reuters) - Ningbo Jifeng's Majority Shareholder Wang Lowers Acceptance Threshold For Its Takeover Offer Of Grammer Ag ::NINGBO JIFENG'S MAJORITY SHAREHOLDER WANG SAYS ACCEPTANCE THRESHOLD LOWERED TO 36 PERCENT OF TOTAL SHARES OF GRAMMER AG, ENSURING A MAJORITY IN GRAMMER'S SHAREHOLDER MEETINGS BASED ON HISTORIC ATTENDANCE.NINGBO JIFENG'S MAJORITY SHAREHOLDER WANG SAYS OFFER PRICE UNCHANGED AT ATTRACTIVE CASH CONSIDERATION OF EUR 60.00 PER GRAMMER SHARE.  Full Article

Grammer Says Ningbo Jifeng Intends To Launch A Takeover Offer To Grammer Shareholders
Tuesday, 29 May 2018 

May 29 (Reuters) - Grammer AG ::DGAP-ADHOC: GRAMMER SIGNS A BUSINESS COMBINATION AGREEMENT WITH COMPANIES AFFILIATED WITH ITS STRATEGIC PARTNER NINGBO JIFENG - LAUNCH OF A TAKEOVER OFFER TO GRAMMER SHAREHOLDERS INTENDED.SAYS SIGNS A BUSINESS COMBINATION AGREEMENT WITH COMPANIES AFFILIATED WITH ITS STRATEGIC PARTNER NINGBO JIFENG - LAUNCH OF A TAKEOVER OFFER TO GRAMMER SHAREHOLDERS INTENDED.BIDDER WILL MAKE A VOLUNTARY PUBLIC TAKEOVER OFFER FOR ALL OUTSTANDING SHARES OF GRAMMER AG.AS CASH CONSIDERATION, EUR 60.00 PER SHARE SHALL BE OFFERED.SAYS NINGBO JIFENG ALREADY HOLDS A STAKE OF OVER 25 % IN GRAMMER AG..SAYS TAKEOVER OFFER WILL BE SUBJECT TO A MINIMUM ACCEPTANCE THRESHOLD OF 50% PLUS ONE SHARE OF ALL SHARES IN GRAMMER.EXECUTIVE BOARD WELCOMES AND SUPPORTS VOLUNTARY TAKEOVER OFFER.  Full Article

Grammer Ag Confirms To Be In Advanced Negotiations With Affiliated Companies Of Ningo Jifeng
Tuesday, 29 May 2018 

May 28 (Reuters) - Grammer AG ::DGAP-ADHOC: GRAMMERAG CONFIRMS NEGOTIATIONS TO CONCLUDE A BUSINESS COMBINATION AGREEMENT (BCA) IN CONNECTION WITH A POTENTIAL PUBLIC TAKEOVER OFFER.GRAMMER AG - CONFIRMS TO BE IN ADVANCED NEGOTIATIONS WITH AFFILIATED COMPANIES OF NINGO JIFENG TO CONCLUDE A BUSINESS COMBINATION AGREEMENT.GRAMMER - BIDDER OFFERED AN INDICATIVE CONSIDERATION OF EUR 60 PLUS PROPOSED DIVIDEND OF EUR 1.25 RESULTING IN TOTAL CONSIDERATION OF EUR 61.25/SHARE.  Full Article

Grammer 9-mth operating EBIT up at EUR 58.6 mln
Monday, 13 Nov 2017 

Nov 13 (Reuters) - GRAMMER AG ::DGAP-NEWS: GRAMMER WITH FURTHER REVENUE GROWTH AND SUBSTANTIAL INCREASE IN OPERATING EBIT.9M OPERATING EBIT ROSE 23.4 PERCENT TO 58.6 MILLION EUR.9M REVENUE ROSE 5.8 PERCENT TO 1.34 BILLION EUR.‍PERSISTENT RESTRAINT ON PART OF INDIVIDUAL PREMIUM OEMS IN AWARDING NEW CONTRACTS TO GRAMMER​.‍EXPECTS TO ACHIEVE VERY STRONG OPERATING EBIT IN 2017 AS A WHOLE WELL IN EXCESS OF PREVIOUS YEAR'S LEVEL.​.‍AT EUR 25.7 MILLION, NET PROFIT FOR YEAR TO SEPT 30, 2017 REMAINED AT PREVIOUS YEAR'S LEVEL (2016: 25.5)​.OPERATING EBIT MARGIN NO LONGER REACH TARGET OF C. 5 PERCENT, STILL TO EXCEED PREVIOUS YEAR'S FIG OF 4.0 PERCENT SLIGHTLY​.‍AT THIS STAGE, AN ADJUSTMENT TO MEDIUM-TERM FORECAST FOR GRAMMER GROUP IS NOT NECESSARY​.  Full Article

Grammer says not chosen for major follow-up orders
Friday, 13 Oct 2017 

Oct 13 (Reuters) - GRAMMER AG ::DGAP-ADHOC: GRAMMER AG NOT CHOSEN FOR MAJOR FOLLOW-UP ORDERS.‍CONTINUES TO EXPECT A VERY POSITIVE OPERATING EBIT FOR BUSINESS YEAR 2017​.‍EXPECTS TO NOW FALL WELL SHORT OF ITS PLANNED ANNUAL TARGET FOR INCOMING ORDERS IN AUTOMOTIVE SEGMENT​.‍CONTINUES TO EXPECT A VERY POSITIVE OPERATING EBIT FOR BUSINESS YEAR 2017, ABOVE PREVIOUS YEAR'S LEVEL​.‍FROM TODAY'S POINT OF VIEW THERE IS NO NEED TO ADJUST GRAMMER GROUP'S MIDTERM PROJECTIONS​.‍LACK OF NEW-ORDER VOLUME CAN NO LONGER BE FULLY COMPENSATED FOR IN CURRENT BUSINESS YEAR​.‍HOWEVER OPERATING EBIT MARGIN IS PROJECTED TO FALL SHORT OF FULL YEAR TARGET FIGURE OF AROUND 5%​.‍TOTAL COST BURDEN IN CURRENT FY DUE TO NON-AWARD OF NEW ORDERS COMPRISES AROUND EUR 10 MILLION IN AUTOMOTIVE SEGMENT.SHARES IN GRAMMER AG TURN NEGATIVE, NOW DOWN 5.6 PCT‍​​.  Full Article

Chinese owner to keep Grammer independent after management exodus

FRANKFURT China's Ningbo Jifeng on Tuesday pledged to keep Grammer independent after securing an 84.23 percent stake in the German automotive interiors maker, a step which prompted senior managers to resign.