Brief: Grammer Scales Back FY Earnings Forecast For 2021

GRAMMER AG

06/10/2021 10:31

Oct 6 (Reuters) - GRAMMER AG  GMMG.DE :
    * EARNINGS IN THE THIRD QUARTER IMPACTED BY CUSTOMER PLANT
CLOSURES DUE TO SUPPLY CHAIN CONSTRAINTS FOR SEMICONDUCTORS AS
WELL AS INCREASED COMMODITY PRICES - ADJUSTMENT TO FULL-YEAR
FORECAST NECESSARY
    * EXPECTS GROUP REVENUE TO COME TO AROUND 432 MILLION EUROS
FOR Q3
OF 2021 (PREVIOUS YEAR: 461.7 MILLION EUROS)
    * OPERATING EBIT WILL THEREFORE AMOUNT TO AROUND -1.2
MILLION
EUROS IN Q3 OF 2021
    * IS NOW FORECASTING FULL-YEAR OPERATING EBIT OF BETWEEN 17
AND 22
MILLION EUROS.
    * REAFFIRMS ITS PREVIOUS REVENUE GUIDANCE OF AROUND 1.8
BILLION
EUROS
    * SIGNIFICANT IMPACT ON EARNINGS IN Q3 OF 2021 AND EXPECTED
MARKET
AND BUSINESS CONDITIONS HAVE PROMPTED GRAMMER TO SCALE BACK ITS
FULL-YEAR EARNINGS FORECAST FOR 2021

Source text for Eikon:  ID:nEQlj6j1a 
Further company coverage:  GMMG.DE 

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