Uresolen, Germany – Speciality automotive seat maker Grammer said that second quarter revenue will be around EUR469m up 66% and would be higher but for microchip shortages.
The company issued a trading statement and said revenue had fallen compared to the first quarter of 2021 'primarily due to the significant reduction in certain customer call-offs resulting from the limited availability of semiconductor components in the Americas.'
Earnings were hit because the company completed the sale of a European subsidiary to improve overall costs.
Grammer added that it expects EBIT to be about EUR5m in the quarter compared with a EUR5m loss in the second quarter of 2020. Operating EBIT will be around EUR11m compared to an EUR46m loss in the second quarter of 2020.
