07.02.2017
GEA Group Aktiengesellschaft DE0006602006
DGAP-News: GEA Group Aktiengesellschaft: GEA releases preliminary figures and decides share buyback program
DGAP-News: GEA Group Aktiengesellschaft / Key word(s): Preliminary
Results/Forecast
GEA Group Aktiengesellschaft: GEA releases preliminary figures and decides
share buyback program
07.02.2017 / 07:30
The issuer is solely responsible for the content of this announcement.
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GEA releases preliminary figures and decides share buyback program
Düsseldorf, February 7, 2017 - Düsseldorf-based engineering group GEA has
just published preliminary figures for the 2016 financial year, together
with a business outlook for 2017. According to the data released, order
intake rose to EUR 4,673 million on the back of very significant growth in
the food sector. As last predicted in October 2016, revenue fell moderately
to EUR 4,492 million. The group's operating EBITDA amounted to EUR 566
million and this too was in line with last autumn's forecast. As regards
its operating cash flow driver, the company posted a ratio to revenue of
9.5 percent last year.
"The general geopolitical climate became highly volatile in the course of
the 2016 financial year. That said, implementation of our new group
structure steadily gained in momentum in the course of the year and this
helped us to hold our ground in this challenging market environment and to
tap into emerging markets more effectively. However, the underlying
economic uncertainties are not going to diminish in the foreseeable future
and that goes for the current business year 2017 too," explained Jürg
Oleas, CEO of GEA. "So, at the moment, it's difficult to say how our
individual markets are going to fare. In particular, recent and upcoming
elections in key sales markets are making it virtually impossible to
predict the shape of the future political framework and its potential for
business and the economy. Furthermore, current forecasts from important
food producers are more cautious than they were for 2016. In order to best
prepare ourselves to face the present challenges, we've already launched
several new strategic projects such as the one in the field of our
manufacturing footprint that is currently in the detailed design phase."
GEA is looking to achieve moderate growth in revenue, an operating EBITDA
of between EUR 620 million and EUR 670 million, and an operating cash flow
driver margin before investments in strategic projects of between 8.5 and
9.5 percent for the 2017 financial year. This forecast is subject to there
being no slowdown in global economic growth and no material adverse
currency impacts. Further, the outlook presupposes an absence of serious
slumps in demand from relevant customer industries or shifts between these
industries which could negatively impact margins.
Already on Monday, the Executive Board of GEA Group Aktiengesellschaft
decided with the consent of the Supervisory Board, that the Company shall
purchase own shares in an aggregate value of up to EUR 450 million with the
purpose of cancellation during the period from March 1, 2017 through
February 28, 2018.
Since all the figures for the 2016 financial year are preliminary, they
have yet to be audited. The consolidated financial statements for the GEA
group and the annual financial statements for GEA Group Aktiengesellschaft
are being prepared by the Executive Board and will be approved by the
Supervisory Board. The annual report with the management report and the
consolidated financial statements will be published on the GEA website on
March 10, 2017.
Preliminary IFRS indicators
(EUR million) 2016 2015
Order Intake 4,673.6 4,590.1
Revenue 4,491.9 4,599.3
Operating EBITDA 1) 566.3 621.0
as % of revenue 12.6 13.5
Operating EBIT 1) 485.0 538.8
as % of revenue 10.8 11.7
EBIT 383.6 309.4
Operating Cash flow driver 2) as % of revenue 9.5 10.3
ROCE in % 3) 16.7 14.6
Employees (FTE as of reporting date) 16,937 17,533
1) Before effects of purchase price allocations and adjustments (see GEA's
half-yearly financial report 2016, p. 42)
2) Operating Cash flow driver = Operating EBITDA - Capital expenditure -
Change in Working Capital (average of the past 12 months)
3) Capital employed excluding ca. EUR800m goodwill from the acquisition of
the former GEA AG by former Metallgesellschaft AG in 1999 (average of the
past 12 months)
Corporate Media and Press:
Marc Pönitz
Peter-Müller-Str. 12, 40468 Düsseldorf, Germany
Phone +49 (0)211 9136-1500
[email protected]
About GEA
GEA is one of the largest suppliers for the food processing industry and a
wide range of process industries that generated consolidated revenues of
approximately EUR 4.5 billion in 2016. As an international technology
group, the Company focuses on process technology and components for
sophisticated production processes in various end-user markets. The Group
generates more than 70 percent of its revenue in the food sector that
enjoys long-term sustainable growth. As of December 31, 2016, the Company
employed about 17,000 people worldwide. GEA is a market and technology
leader in its business areas. The Company is listed on Germany's MDAX (G1A,
WKN 660 200). In addition, GEA's share is a constituent of the MSCI Global
Sustainability Indexes. Further information is available on the Internet at
gea.com.
If you do not want to receive any further information from GEA, please send
an email to [email protected].
Contact:
GEA Group Aktiengesellschaft
Phone +49 (0)211 9136 1492
Fax +49 (0)211 9136 31087
gea.com
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Language: English
Company: GEA Group Aktiengesellschaft
Peter-Müller-Straße 12
40468 Düsseldorf
Germany
Phone: +49 (0)211 9136-0
Fax: +49 (0)211 9136-31087
E-mail: [email protected]
Internet: www.gea.com
ISIN: DE0006602006
WKN: 660200
Indices: MDAX
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime
Standard), Hamburg, Munich; Regulated Unofficial Market in
Hanover, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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