Brief: GRAMMER: Early Extension Of Syndicated Loan Leads To Dividend Suspension Until 2025

GRAMMER AG

28/06/2022 09:47

June 28 (Reuters) - GRAMMER AG  GMMG.DE :
    * EARLY EXTENSION OF SYNDICATED LOAN LEADS TO DIVIDEND
SUSPENSION
UNTIL 2025
    * EARNINGS DEVELOPMENT IN Q2 OF 2022 SIGNIFICANTLY BELOW
PREVIOUS
YEAR'S LEVEL
    * TODAY PREMATURELY EXTENDED TRANCHE C OF EUR 235 MILLION
SYNDICATED LOAN AGREEMENT CONCLUDED IN AUGUST 2020 UNTIL
FEBRUARY 10, 2025
    * CURRENTLY MAINTAINING FULL-YEAR FORECAST
    * REVENUE IN CURRENT QUARTER OF APPROXIMATELY EUR 505
MILLION IS
SIGNIFICANTLY ABOVE PREVIOUS YEAR'S LEVEL (Q2 2021: EUR 468.8
MILLION)
    * Q2 EARNINGS BEFORE INTEREST AND TAXES (EBIT) (Q2 2021: EUR
5.2
MILLION) AND OPERATING EBIT (Q2 2021: EUR 11.4 MILLION) ARE
EXPECTED TO BE WITHIN A RANGE OF EUR -10 MILLION TO EUR -15
MILLION

Source text for Eikon:  ID:nEQ5H38Mma 
Further company coverage:  GMMG.DE 

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