EQS-News: GRAMMER AG publishes results for th...

GRAMMER AG publishes results for the first half of 2026

• Group revenue up by EUR 7.7 million to EUR 961.4 million
• Strong second quarter with revenue of EUR 499.4 million, exceeding first quarter of 2026 (EUR 462.0 million) and the prior-year quarter (EUR 466.3 million)
• Operating EBIT up 17.1% to EUR 41.7 million (01–06 2025: EUR 35.6 million); operating EBIT margin at 4.3% (01–06 2025: 3.7%)
• EBIT increased significantly to EUR 48.6 million (01–06 2025: EUR 24.2 million)
• Commercial Vehicles up 5.2% to EUR 358.9 million, while Automotive revenue decreased by 1.6% to EUR 602.5 million
• Long-term financing secured through multiple bank facilities
• Outlook confirmed: Revenue expected at previous year's level of around EUR 1.9 billion with operating EBIT of around EUR 80 million for 2026

Ursensollen, August 14, 2026 – Today, the GRAMMER Group published its financial results for the first half of 2026. GRAMMER increased revenue slightly by EUR 7.7 million, or 0.8%, to EUR 961.4 million in the first half of 2026 (01–06 2025: EUR 953.7 million). Adjusted for currency effects, revenue growth amounted to 2.7% to EUR 979.5 million. The increase was primarily driven by the APAC region, where revenue rose by 7.6% to EUR 264.3 million (01–06 2025: EUR 245.7 million). Revenue in EMEA remained stable at EUR 564.0 million (01–06 2025: EUR 563.9 million), while revenue in AMERICAS declined by 7.7% to EUR 153.0 million (01–06 2025: EUR 165.8 million). The second quarter of 2026 was particularly strong: With EUR 499.4 million, revenue exceeded both the first quarter of 2026 (EUR 462.0 million) and the second quarter of 2025 (EUR 466.3 million). The development in the two product areas was mixed. Revenue in the Commercial Vehicles product area rose by 5.2% to EUR 358.9 million (01–06 2025: EUR 341.1 million), while revenue in the Automotive product area declined by 1.6% to EUR 602.5 million (01–06 2025: EUR 612.6 million).

GRAMMER Group’s earnings benefited from the strong second quarter as well as from the continued implementation of measures to improve efficiency and competitiveness across the Group. Ongoing capacity adjustments, the further streamlining of organizational structures and the consistent execution of the “Top 10” measures contributed positively. Operating EBIT increased by 17.1% to EUR 41.7 million (01–06 2025: EUR 35.6 million), with the operating EBIT margin improving to 4.3% (01–06 2025: 3.7%). Operating EBIT was adjusted for positive currency effects of EUR 7.1 million and expenses for restructuring provisions of EUR 0.2 million (01–06 2025: negative currency effects of EUR 11.4 million, income from the dissolving of restructuring provisions of EUR 1.6 million and a deconsolidation loss for a US Group company of EUR 1.5 million). Consolidated earnings before interest and taxes (EBIT) rose accordingly to EUR 48.6 million (01–06 2025: EUR 24.2 million). Earnings before taxes amounted to EUR 31.2 million (01–06 2025: EUR 6.8 million) and earnings after taxes to EUR 24.3 million (01–06 2025: EUR 13.1 million).

Business development in the regions: APAC with strong growth, EMEA stable, AMERICAS below previous year

In the EMEA region, GRAMMER generated revenue of EUR 564.0 million in the first half of 2026 (01–06 2025: EUR 563.9 million) and thus remained stable compared with the same period of the previous year. Revenue in the Commercial Vehicles product area increased by 1.6% to EUR 238.0 million (01–06 2025: EUR 234.3 million), mainly driven by the Offroad and Rail&Road product market segments. The Automotive product area recorded a decline of 1.1% to EUR 326.0 million (01–06 2025: EUR 329.6 million), primarily resulting from the challenging market environment in the European automotive industry as well as lower R&D revenue. The “Top 10” measures again proved its effectiveness in the first half of the year, particularly in the second quarter, and had a positive impact on earnings. Operating EBIT increased to EUR 40.7 million (01–06 2025: EUR 24.4 million) and was adjusted for positive currency effects of EUR 0.9 million and expenses for restructuring provisions of EUR 0.2 million. The operating EBIT margin rose to 7.2% (01–06 2025: 4.3%). EBIT increased significantly to EUR 41.4 million (01–06 2025: EUR 20.0 million) as a result of capacity adjustments and organizational streamlining as well as an income from public funding programs for research and development.

Revenue in the APAC region rose by 7.6% to EUR 264.3 million in the first half of 2026 (01–06 2025: EUR 245.7 million). Adjusted for currency effects, revenue amounted to EUR 270.7 million, corresponding to growth of 10.2%. The increase was driven by the higher-margin Commercial Vehicles product area, where revenue grew by EUR 20.1 million or 30.7% to EUR 85.6 million (01–06 2025: EUR 65.5 million), supported by all Commercial Vehicles product market segments. The Automotive product area remained stable at EUR 178.7 million (01–06 2025: EUR 180.2 million). Adjusted for negative currency effects of EUR 0.7 million, operating EBIT improved to EUR 18.2 million (01–06 2025: EUR 17.7 million), with an operating EBIT margin of 6.9% (01–06 2025: 7.2%). Despite currency effects, EBIT was on a par with the previous year's level at EUR 17.4 million (01–06 2025: EUR 17.5 million).

Revenue in the AMERICAS region was 7.7% below the previous year's level at EUR 153.0 million (01–06 2025: EUR 165.8 million), reflecting weaker demand and currency effects. Adjusted for currency effects, revenue declined by only 2.7% to EUR 161.3 million. In the Automotive product area, revenue fell by 6.7% to EUR 102.3 million (01–06 2025: EUR 109.6 million), mainly because of currency effects. On a currency-adjusted basis, revenue was largely stable with a decline of 1.0%. In the Commercial Vehicles product area, revenue declined by 9.8% to EUR 50.7 million (01–06 2025: EUR 56.2 million) and by 6.0% adjusted for currency effects, primarily due to lower demand from key customers in the agricultural and construction equipment sectors in the Offroad business. Adjusted for positive currency effects of EUR 4.3 million, operating EBIT amounted to EUR –6.2 million (01–06 2025: EUR –0.2 million), corresponding to an operating EBIT margin of –4.1% (01–06 2025: –0.1%). EBIT improved to EUR –1.8 million (01–06 2025: EUR –5.8 million). Earnings were impacted by additional logistic and tariff-related costs, expenses associated with new project launches.

Jens Öhlenschläger, CEO of GRAMMER AG: "The first half of 2026 shows that our measures are taking effect. In a market environment that remains demanding, we grew revenue slightly, delivered a strong second quarter and significantly improved our operating result. That is the result of consistent work on our cost structures and our competitiveness. At the same time, we have put our financing on a stable, long-term footing with the refinancing that has now been completed. This gives us the room we need to implement our strategy. We will continue along this path with discipline in the second half of the year."

Net assets and financial position in the first half of 2026

The GRAMMER Group's total assets increased to EUR 1,722.0 million as of June 30, 2026 (December 31, 2025: EUR 1,607.2 million). Non-current assets rose by 2.4% to EUR 950.1 million (December 31, 2025: EUR 927.4 million). Current assets increased by 13.5% to EUR 771.8 million (December 31, 2025: EUR 679.9 million), mainly due to higher inventories and higher trade receivables following increased revenue in recent months.

Equity increased by 13.8% to EUR 317.0 million as of June 30, 2026 (December 31, 2025: EUR 278.6 million), driven by net profit for the period of EUR 24.3 million and positive other comprehensive income of EUR 16.9 million. The equity ratio improved to 18.4% (December 31, 2025: 17.3%). Non-current liabilities decreased by EUR 195.5 million to EUR 526.4 million (December 31, 2025: EUR 721.9 million), while current liabilities increased by EUR 271.8 million, or 44.8%, to EUR 878.5 million (December 31, 2025: EUR 606.7 million). This shift essentially reflects the reclassification of non-current financial liabilities to current financial liabilities. The successful refinancing is not yet reflected in the financial figures.

Long-term financing secured

After the reporting period, GRAMMER secured its long-term financing with multiple bank facilities totaling around EUR 762 million and maturities of three years. This improves the Group's maturity profile, provides the company with attractive conditions and enables the implementation of the planned business strategy.

Outlook for the full year 2026 confirmed

For the full year 2026, GRAMMER continues to expect revenue at the previous year's level of around EUR 1.9 billion with an operating EBIT of around EUR 80 million. The forecast published on March 27, 2026, therefore remains unchanged. However, the market environment is expected to remain challenging for the remainder of the year. Ongoing macroeconomic uncertainty, persistently elevated material, energy and personnel costs as well as geopolitical developments continue to weigh on the automotive industry and the global economy. In addition, trade policy uncertainties – particularly in connection with US tariff measures – may affect market dynamics and global supply chains. Against this backdrop, GRAMMER will continue to consistently execute its efficiency and competitiveness measures and adapt its operations to changing market conditions.

The Interim Financial Report January to June 2026 is available on the website at https://www.grammer.com/en/investor-relations/financial-publications-presentations/quarterly-reports/. 

GRAMMER Group key performance indicators

¹ From continuing operations
² In the reporting year 2025, a retrospective adjustment was made to the presentation within the balance sheet. For better comparability, the balance sheet figures and the cashflow statement were adjusted, for more details please see note 3 in the 2025 Annual Report.

The explanation of the key figure “operating EBIT” relevant to GRAMMER can be found on page 12 of the 2025 Annual Report.

Rounding differences in the financial figures are possible.

Company profile

GRAMMER AG, based in Ursensollen, specializes in the development and production of components and systems for car interiors as well as suspended driver and passenger seats for onroad and offroad vehicles. In the Automotive product area, the company supplies headrests, armrests, center console systems, high-quality interior components and operating elements for well-known car manufacturers and system suppliers in the vehicle industry. The Commercial Vehicles product area comprises the business areas of truck and offroad seats (tractors, construction machinery and forklifts) as well as train and bus seating. GRAMMER operates in 20 countries with around 11,400 employees. GRAMMER’s shares are listed in the Prime Standard and traded on the Munich and Frankfurt stock exchanges and the Xetra electronic trading platform.