Amberg, Germany — Grammer AG, a supplier of automotive seating and interiors, had total sales of 534 million euros ($597.5 million) in first quarter of 2019, up 17.6 percent vs. the same period last year.
Earnings before interest and taxes across the business rose 20 percent and reached 24 million euros ($26.8 million) in the first quarter.
The Amberg-based company's automotive division business sales rose 20.4 percent between the first quarter of 2018 and the first quarter of 2019, reaching 378 million euros ($422.9 million) in first quarter of 2019, up from 314 million euros ($351 million) last year.
Most of this is due to the consolidation of Toledo Molding & Die, a Toledo, Ohio-based plastics molder purchased in October 2018. This year marks its first full quarter of consolidation into the accounts.
Earnings for the auto division rose nearly 27 percent, reaching 12.3 million euros ($13.7 million), the company said, saying that the funds brought in by Toledo Molding outweighed the "muted revenue performance in Europe."