GRAMMER AG: 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

In addition, operating earnings in the third quarter materially came under pressure from price developments in the international commodity markets. GRAMMER AG’s operating EBIT will therefore amount to around -1.2 million euros in the third quarter of 2021 according to preliminary figures and a current projection (Q3 2020: 22.4 million euros). Accordingly, EBIT should come to -1.2 million euros (Q3 2020: 5.8 million euros).

The significant impact on earnings in the third quarter of 2021 and expected market and business conditions have prompted GRAMMER to scale back its full-year earnings forecast for 2021. GRAMMER AG expects the challenging economic conditions to persist in 2021 particularly in the markets that it addresses. The further course of the global supply-chain constraints in the semiconductor industry and prices on international commodity markets are leaving significant traces on the earnings forecast. Consequently, GRAMMER is now forecasting full-year operating EBIT of between 17 and 22 million euros. It had previously been expecting operating EBIT of around 65 million euros. At the same time, it reaffirms its previous revenue guidance of around 1.8 billion euros.

The quarterly statement for the third quarter of 2021 will be published on October 27, 2021.