Amberg, Germany - Seating specialist Grammer Group raised its revenue by 6 percent for Jan to Sept 2012, to Euro 858.7 million ($1085 million), with net profit of Euro 17.8 million. Grammer said that "In a difficult macroeconomic environment … it extended its gratifying revenue and earnings trend from the first half."
The specialist for seating systems and automotive interiors was able to improve revenue, but said operating profit (EBIT) was down slightly in the first three quarters of 2012.
This was the result of both one-time startup costs for new products and "pronounced weakness in the Brazilian market," said the German group, adding that this weighed on EBIT performance and continued to have a negative impact in Q3.
Nine-month EBIT fell to Euro 34.3 million in 2012, from Euro 36.0 million last year.
Q3 revenue rose Euro 13 million to Euro 285.3 million in Q3 2012, and Grammer said this was, "despite an ongoing cool-down in core markets."