Amberg, Germany – Auto interior and commercial seating supplier Grammer reported a sales increase of 4.4% to EUR1.4 bn ($1.5 bn) in 2015, its fifth consecutive record annual revenues.
The group’s 2015 EBIT (earnings before interest and taxes) however, were EUR42.7m – down 25% on 2014, according to its annual report.
EBIT “fell due to the costs incurred for the implementation of very high growth and for further internationalisation and optimising the worldwide organisation,” the report said.
Grammer ceo Hartmut Muller said the firm judged the 2015 financial year as “generally positive… despite difficult market conditions.”
The strongest growth was in the Americas (North, Central, and South America), with sales up by 7.8% to EUR 243.9m, according to Grammer’s annual results.
In the EMEA (Europe, Middle East and Africa) region sales increased by 3.8% to EUR971.7m while APAC (Asia and Pacific) sales increased by 3.2% to EUR 210.1m.
XE Currency conversion: 31 March, 2016