Amberg, Germany – Grammer, the automotive seating and interiors company, said it increased revenue by about 5% to EUR 1.86bn in 2018.
Grammer raises revenue in 'difficult conditions'
The announcement was made in a preliminary trading statement ahead of the full 2018 numbers, which are due in mid-March.
The company said automotive OEMs and the components industry faced 'generally difficult conditions' in 2018.
Sales in its commercial vehicles division grew by 11% to EUR 600m in 2018. Meanwhile, the automotive division managed a slower 1.7% growth, to EUR 1.3bn, in the year. This was a result of 'protracted, muted market conditions in Europe', the company said.
EBIT was 'close to the previous year' at about EUR 80m. The EBIT margin shrank slightly to 4.1%. The company included Toledo Mould and Die in its numbers for the first time in the last quarter of 2018.
Manfred Pretscher, CEO, said: 'We achieved our full-year targets despite difficult market conditions. We were able to stabilise our shareholder structure, and order intake reached a new record in 2018.'