Hartmut Müller

Equipment seat manufacturer Grammer AG has recorded double-digit growth in 2013 revenue.

Despite disparate conditions in the global economy, Grammer posted an 11.7% rise in consolidated revenue of EUR1.266 billion (USD1.747 billion), compared to 2012's EUR1.133 billion (USD1.563 billion). Operating earnings (EBIT) grew by 18.4% from EUR49 million (USD67 million) to EUR58 million (USD80 million). Net profit after tax came to EUR29.6 million (USD40.9 million), 10.5% higher than EUR26.8 million (USD37 million) in 2012.

Hartmut Müller, CEO of Grammer AG, says: "In 2013, we benefited heavily from our strategic orientation and innovativeness. Despite fairly mixed conditions in the global automotive market, this allowed us to achieve new records in revenue and earnings. This year, we will be stepping up our efforts to broaden our global presence and continue on our growth trajectory in all regions."

In the automotive division, in which Grammer produces interior components for premium automotive OEMs and systems suppliers in the automotive industry, revenue jumped by 14.4% to EUR 813.3 million/USD1.123 million (2012: EUR711.1 million/USD981.4 million)).

The seating systems division, which develops and produces seating systems for trucks, off-road vehicles, buses and trains, posted a 7.7% increase in revenue to EUR472.8 million (USD652.2 million) compared to EUR439.1 million (USD606 million) in 2012.

As of December 31, 2013, Grammer had 10,082 employees,1,462 more than at the end of the previous year. This increase was mainly due to its acquisition of Czech Republic-based Nectec Automotive and the establishment of new facilities and extensions to existing ones.