The report highlights GRAMMER AG's financial performance for the year 2008, which was a positive one despite the challenging economic conditions in the second half of the year. The company was able to meet its guidance for 2008 and for the first time generated revenues in excess of one billion euros. Operating profit (EBIT) also met expectations, remaining at the previous year's level despite one-time expenses. The report highlights the company's strong performance in the Seating Systems division, which was the motor of growth and key to the success of the GRAMMER Group. Revenue and earnings were improved substantially over the previous year. The report also describes the company's international expansion efforts, including the set-up of a plant in Serbia and the expansion of its Shanghai location into an Asian research and development center and production site. The report concludes with an outlook for 2009, which anticipates difficult conditions due to the ongoing global economic downturn.
