Ursensollen, Germany – Full-year sales fell by 6.5% year-on-year at seatmaker Grammer, down from 2023’s €2.05bn to €1.92bn in 2024. Operating EBIT was slashed in half – dropping to €41.6m from the €83.0m reported the year before. These figures reflect continuing operations, with TMD Group having been divested in September 2024.
The company said that, contrary to expectations, the market did not recover during 2024. After record years in 2022 and 2023, it said, commercial vehicle seats returned to a more normal level. This was significantly impacted by cyclically weak demand, particularly in Europe, where revenues of €652m represented a decline of almost 16% on the previous year’s figure.
Revenues for its automotive business were more stable, falling 0.8% to €1.27m. However, the company said, this fell “significantly short” of expectations, and was marked by major upheavals. The decline was partially offset by strong order intake in previous years. In the Americas, sales were flat; they were down by about 6% in Europe but up 7% in China. However, it said, this growth was well below expectations, with significant shifts in volume from global suppliers like Grammer to domestic OEMs.
