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GEA Group AG
Earnings Release • Jul 30, 2020
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Earnings Release
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News Details
Ad-hoc | 30 July 2020 17:53
GEA Group Aktiengesellschaft: GEA significantly improves preliminary earnings for the second quarter and raises part of its full-year 2020 guidance
GEA Group Aktiengesellschaft / Key word(s): Quarter Results/Change in Forecast
GEA Group Aktiengesellschaft: GEA significantly improves preliminary earnings for the second quarter and raises part of its full-year 2020 guidance
30-Jul-2020 / 17:53 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
**Ad hoc disclosure in accordance with article 17 of MAR
GEA significantly improves preliminary earnings for the second quarter and raises part of its full-year 2020 guidance**
GEA Group Aktiengesellschaft improved EBITDA before restructuring measures* to an expected EUR 140.4 million in the second quarter of 2020. This figure surpasses the market expectations calculated on the basis of the average analysis consensus estimates compiled by VARA Research on behalf of GEA. The consensus estimates for EBITDA before restructuring measures were EUR 114.6 million. No estimate was given for ROCE (return on capital employed), which is projected to have reached 14.8% (previous year: 10.5%).
Based on the company’s solid performance in the first half, GEA has raised part of its guidance for 2020 – despite the continuing uncertainties arising from COVID-19.
- GEA continues to project a slight decrease in revenue from the prior-year figure of EUR 4,880 million.
- For EBITDA before restructuring measures, the company is now forecasting at minimum a figure at the upper end of the previous range of EUR 430 to 480 million (previous year: EUR 479 million).
- In the case of ROCE, GEA now anticipates an increase to a range between 12.0% and 14.0%, up from the previous 9.0% to 11.0% (previous year: 10.6%).
GEA will be releasing the company’s financial report on the first half of 2020 on August 12, 2020.
*EBITDA before restructuring measures is defined on pages 40 and 257 of the 2019 Annual Report.
GEA’s 2019 Annual Report can be found online at gea.com .
Contact:
GEA Group Aktiengesellschaft
Oliver Luckenbach
Head of IR
Phone +49 (0)211 9136 1080
Fax +49 (0)211 9136 31087
30-Jul-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| 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 |
| EQS News ID: | 1106751 |
| End of Announcement | DGAP News Service |