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GEA Group AG
Earnings Release • Nov 22, 2018
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Earnings Release
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News Details
Ad-hoc | 22 November 2018 19:35
GEA Group Aktiengesellschaft: GEA adjusts outlook for operating cash flow driver margin for 2018
GEA Group Aktiengesellschaft / Key word(s): Change in Forecast
GEA Group Aktiengesellschaft: GEA adjusts outlook for operating cash flow driver margin for 2018
22-Nov-2018 / 19:35 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 pursuant to Article 17 MAR
GEA adjusts outlook for operating cash flow driver margin for 2018**
Following the Group’s business development in October, the Executive Board of GEA Group Aktiengesellschaft has decided to adjust its outlook for the operating cash flow driver margin* for the 2018 financial year (based on constant exchange rates) to a corridor of 6.5 to 7.0 percent (previously: approx. 8.5 percent). This forecast corresponds to a reported (i.e. based on current exchange rates) operating cash flow driver margin of 7.0 to 7.5 percent. This new appraisal reflects the higher level of working capital, which has persisted in the current financial year for longer than in the previous year due to volume.
The remaining elements of the outlook and other assumptions for the 2018 financial year remain unchanged as outlined in the Report for the Third Quarter (see page 6) and in the 2017 Annual Report (see page 120).
Despite the good volume development in 2018, GEA is less confident about the development of its business in 2019. The deteriorating macroeconomic environment combined with further increases in material and personnel costs will have a negative impact.
* Operating cash flow driver as defined on pages 3, 8 and 44ff of the 2018 Half-yearly Financial Report.
Contact:
GEA Group Aktiengesellschaft
Donat von Mueller
Head of IR
Phone +49 (0)211 9136 1080
Fax +49 (0)211 9136 31087
22-Nov-2018 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 |
| End of Announcement | DGAP News Service |