Grammer warns of H2 risks from new anti-pollution tests
07/08/2018 06:46
Aug 2 (Reuters) - German automotive interiors maker Grammer
GMMG.DE confirmed its full-year guidance, but pointed to risks
from the introduction of new anti-pollution tests.
Grammer expects its 2018 revenue to reach 1.85 billion euros
($2.14 billion) but said the switch to the Worldwide Harmonized
Light Duty Vehicles Test Procedure (WLTP) could have a negative
impact on sales at its in Automotive Division in the second half
of the year.
It posted 2 percent rise in revenue in the first half of
2018 to 927.6 million euros helped by strong business at its
Commercial Vehicles Division but also improved revenue
development in the Automotive Division.
The results come a day after the extended acceptance period
for a takeover offer by Ningbo Jifeng 603997.SS ended, with
the Chinese investor holding 45.58 percent of shares in Grammer.
The second biggest investor -- Bosnia's Hastor family --
holds 19 percent of shares. urn:newsml:reuters.com:*:nL3N1T02WO
($1 = 0.8657 euros)
(Reporting by Daria Kowalewska
Editing by Maria Sheahan)
((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))