Grammer Q1 revenue declines 14.8% y/y to USD503 million
Company suspends FY 2020 financial outlook
Grammer has reported 14.8% y/y decline in group revenue to EUR454.9 million (USD503 million) in the first quarter ended 31 March 2020, the Germany-based automotive interior products supplier said in a press release on 29 April. The company incurred an EBIT loss of EUR2.1 million against an EBIT gain of EUR24 million in the first quarter 2019. Grammer’s operating EBIT, adjusted for currency effects, declined to EUR0.4 million against EUR23 million a year earlier.
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