Grammer announces preliminary results for 2017; revenue up 5% y/y to USD2.14 billion
Company expects growth in revenue and operating earnings this year
Grammer has reported a 5% year-over-year (y/y) increase in revenue to around EUR1.79 billion (USD2.14 billion as on 31 December 2017) for the fiscal year 2017, the German supplier said in a press release today (20 February). Higher revenue helped the company record 17.5% y/y growth in operating EBIT to EUR80 million; operating EBIT margin also improved, by 50 basis points, to 4.5%. However, the company witnessed an 11% y/y decline in EBIT to EUR65 million amid high exceptional costs and unfavorable currency effects.
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