By Bhaskar Ch on Tue, 07/18/2017 - 13:37

Based on preliminary figures, GEA for the second quarter 2017 expects an order intake of approx. EUR 1,241 million (prior year: EUR 1,222 million), working capital of approx. EUR 710 million (prior quarter: EUR 760 million), revenues of approx. EUR 1,141 million (prior year: EUR 1,157 million), and an operating EBITDA* of approx. EUR 122 million (prior year: EUR 145 million). That decline at group level was mainly caused in the Business Area Solutions, in particular by volume- and margin-mix effects, as well as a medium single digit million EUR charge for additional costs relating to bottling lines which had previously been addressed during the Q3 2016 communication and whose sale has been discontinued in this variant.

As a consequence, GEA adjusts its guidance for the financial year 2017 - with assumptions otherwise unchanged - as follows: 

  • Instead of previously EUR 620 million to EUR 670 million now an operating EBITDA* in the range of EUR 600 million to EUR 640 million, however before additional costs related to the afore-mentioned bottling lines. It is expected that such additional costs will not exceed a lower double digit million EUR amount.
  • An operating cash flow driver margin* before capex for strategic projects between 8.5 and 9.5 per cent, however now before additional costs in respect of the above-mentioned bottling lines.
  • Moderate growth of revenues is confirmed as previously guided. 

GEA is one of the largest suppliers of process technology for the food industry and a wide range of other industries. The international technology group focuses on process technology and components for sophisticated production processes in various end-user markets.
In 2016, GEA generated consolidated revenues of about EUR 4.5 billion. The food and beverages sector, which is a long-term growth industry, accounted for around 70 percent. As of March 31, 2017, the company employed about 17,000 people worldwide. GEA is a market and technology leader in its business areas. The company is listed on the German MDAX stock index (G1A, WKN 660 200) and included in the STOXX® Europe 600 Index. In addition, the company is listed in selected MSCI Global Sustainability Indexes.