12.04.2018
GEA Group Aktiengesellschaft DE0006602006
DGAP-News: GEA Group Aktiengesellschaft: GEA releases preliminary first quarter 2018 results
DGAP-News: GEA Group Aktiengesellschaft / Key word(s): Quarter Results
GEA Group Aktiengesellschaft: GEA releases preliminary first quarter 2018
results
12.04.2018 / 01:39
The issuer is solely responsible for the content of this announcement.
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GEA releases preliminary first quarter 2018 results
Düsseldorf, April 12, 2018 - GEA Group Aktiengesellschaft has announced
preliminary first quarter 2018 results while simultaneously confirming its
business outlook for the year 2018.
Order intake is expected to amount to approximately EUR 1,100 million
(previous year EUR 1,136 million). In this context, adverse currency effects
total just under EUR 60 million. Group revenue is likely to rise to around
EUR 1,035 million (previous year EUR 1,004 million). Adverse currency
effects add up to approximately EUR 50 million. Operating EBITDA is expected
to amount to approximately EUR 65 million (previous year EUR 96 million).
Following increased order intake levels in the months of January and
February, the Business Area Solutions has seen a rather subdued order intake
in March. Moreover, the sales volume generated by this Business Area in
March is approximately EUR 30 million down compared to previous year. While
the disappointing relative gross margin achieved by the Business Area
Solutions in January and February - notably in the American companies - has
gone up in March, it is still lagging behind previous year's level. In the
first quarter, the Business Area Equipment has witnessed a more than 10
percent overall organic growth in order intake with all product groups
contributing to this development. On the other hand, the earnings increase
of this Business Area due to volume growth was unable to fully offset the
currency-related disadvantages and adverse product mix effects, in
particular in the USA.
"We confirm our business outlook for the year 2018. This assessment is based
on our solid order backlog as well as the measures already initiated. Apart
from focusing our attention more strongly on the product mix, we have
already launched initiatives designed to enhance earnings contributions in
North America. Furthermore, we will continue to consistently exert cost
discipline throughout the current fiscal year. In a challenging environment,
the second quarter's order intake will also be essential for achieving our
business outlook," explained Jürg Oleas, CEO of GEA Group
Aktiengesellschaft.
GEA will release its final first quarter 2018 results on May 4, 2018.
Corporate Media and Press:
Marc Pönitz
Peter-Müller-Str. 12, 40468 Düsseldorf, Germany
Phone +49 211 9136-1500
[email protected]
About GEA
GEA is one of the largest suppliers for the food processing industry and a
wide range of other industries that generated consolidated revenues of
approximately EUR 4.6 billion in 2017. The international technology group
focuses on process technology, components and sustainable energy solutions
for sophisticated production processes in various end-user markets. The
group generates around 70 percent of its revenue in the food and beverages
sector that enjoys long-term sustainable growth. As of December 31, 2017,
the company employed about 18,000 people worldwide. GEA is a market and
technology leader in its business areas. The company is listed on the German
MDAX (G1A, WKN 660 200). In addition, GEA's stock is included in the MSCI
Global Sustainability Indexes. Further information is available on the
Internet at gea.com.
Contact:
GEA Group Aktiengesellschaft
Phone +49 (0)211 9136 1492
Fax +49 (0)211 9136 31087
gea.com
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12.04.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
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Archive at www.dgap.de
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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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673749 12.04.2018
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