GRAMMER AG Reports Increase in Revenue and Earnings for FY 2023, Appoints Guoqiang Li to Executive Board

GRAMMER AG announced a financial upturn in FY 2023 with a 6.8% increase in revenue reaching EUR 2,304.9 million and a significant rise in operating EBIT to EUR 56.8 million, a 60% improvement from the previous year. These results, however, fell short of the company’s expectations amidst persistent macroeconomic and sectoral uncertainties. GRAMMER has initiated a “Top 10 Measures” program aimed at boosting profitability in 2024. The company also anticipates maintaining its revenue at the previous year's level and expects a further improvement in profitability for the coming year.

In addition to its financial achievements, GRAMMER named Guoqiang Li, the current Chief Operating Officer, to its Executive Board effective April 1, 2024. This decision underscores the company's commitment to achieving operational excellence and accelerating the implementation of its profitability enhancement program. Jurate Keblyte, CFO of GRAMMER AG, emphasized the challenging nature of FY 2023 due to uncertainties, but remained optimistic about the company’s strategic measures to improve profitability.

Geographically, GRAMMER saw revenue growth in the EMEA and APAC regions, while the AMERICAS region faced challenges, including restructuring efforts and a decrease in volumes. Despite these obstacles, GRAMMER achieved a record-high order intake of EUR 2.7 billion for the financial year 2023, highlighting its ongoing customer satisfaction and innovative product offerings. The company remains focused on achieving its medium-term revenue target of EUR 2.5 billion by 2025.