Grammer sales rise despite car market slowdown
European Plastics News staff
Posted 21 November 2012
Automotive injection moulder Grammer, based in Germany, said it is continuing to grow despite a “challenging environment”.
The group’s sales increased by 6% from €810m in the first three quarters of 2011 to €859m in the same period this year. Net profit rose by 13% from €16m to €18m, but operating profit fell from €36m to €34m over the same period due to one-time startup costs for new products and weakness in the Brazilian market.
In the third quarter, group revenue rose from €273m in 2011 to €285m in 2012. This was “despite an ongoing cool-down in core markets”, said Grammer.
For 2012 as a whole, Grammer said it is “expecting an overall result on par with last year”.
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