Brief: Grammer Swings To Q1 EBIT Loss Of EUR 1.0 Mln

GRAMMER AG

12/04/2022 09:48

April 12 (Reuters) - GRAMMER AG  GMMG.DE :
    * EARNINGS DEVELOPMENT IN FIRST QUARTER OF 2022
SIGNIFICANTLY
BELOW PRIOR-YEAR LEVEL
    * Q1 EBIT LOSS EUR -1.0 MLN
    * Q1 EARNINGS BEFORE INTEREST AND TAXES (EBIT) WERE AROUND
EUR -1
MILLION (Q1 2021: EUR 22.6 MLN)
    * Q1 OPERATING EBIT AROUND EUR -2.5 MLN(Q1 2021: EUR 21.0
MLN)
    * Q1 GROUP REVENUE IN PAST QUARTER IS SLIGHTLY ABOVE
PREVIOUS
YEAR'S LEVEL (Q1 2021: EUR 503.7 MLN)
    * DESPITE LOWER-THAN-EXPECTED Q1, EXECUTIVE BOARD CURRENTLY
MAINTAINS ITS FULL-YEAR GUIDANCE PUBLISHED IN ANNUAL REPORT
    * RISKS TO REVENUE AND EARNINGS FROM WAR IN UKRAINE AND
ONGOING
CORONA LOCKDOWNS IN CHINA MAY INTENSIFY DEPENDING ON THEIR
LENGTH AND FURTHER COURSE AND COULD HAVE A NEGATIVE IMPACT ON
GUIDANCE

Source text for Eikon:  ID:nEQ31dvp8a 
Further company coverage:  GMMG.DE 

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