Amberg, Germany — Grammer, which supplies automotive seating and interiors, had total sales of EUR 534m in first quarter of 2019. This is up 17.62% on the equivalent period last year.
EBIT across the business rose 20.0% and reached EUR 24m in the first quarter of 2019.
The company's Automotive division business sales rose 20.4% between Q1 2018 and the first quarter of 2019. They reached EUR 378m in the Q1 2019 period. This compares with EUR 314m in the equivalent period last year.
Most of this is due to the consolidation of Toledo Molding & Die, a plastics moulder in the US. The business was purchased in October 2018. This marks its first full quarter of consolidation into the accounts.
At the same time, EBIT in the division rose 26.8%. It reached EUR 12.3m in the first quarter of 2019. This compares with EUR 9.7m in the equivalent period last year. Here, the effect of Toledo Molding outweighed the 'muted revenue performance in Europe.'
Grammer said sales in its commercial vehicle business sales rose 9.6% between Q1 2018 and the first quarter of 2019 . They reached EUR 168.5m in the Q1 2019 period. This compares with EUR 153.8m in the equivalent quarter last year. This performance was driven by rising volume, the company said.
At the same time, EBIT in the division rose 12.4%. It reached EUR 168.5m in the first quarter of 2019. This compares with EUR 153.8m in the equivalent period last year.
| Grammer numbers Q1 2019 ($,000) | |||
|---|---|---|---|
| Group | Q1 2019 | Q1 2018 | Change % |
| Sales | 534 | 454 | 17.62 |
| EBIT | 24 | 20 | 20.00 |
| Margin % | 4.5 | 4.4 | |
| Automotive | |||
| Sales | 378 | 314 | 20.38 |
| EBIT | 12.3 | 9.7 | 26.80 |
| Margin % | 3.3 | 3.1 | |
| Commercial vehicles | |||
| Sales | 168.5 | 153.8 | 9.56 |
| EBIT | 17.2 | 15.3 | 12.42 |
| Margin % | 10.2 | 9.9 | |
| Source: Grammer | |||
