AI Terminal
GEA Group AG
Earnings Release • Oct 10, 2018
176_rns_2018-10-10_796d007b-e461-47f1-9220-6ff1265e8f03.html
Earnings Release
Open in ViewerOpens in native device viewer
News Details
Ad-hoc | 10 October 2018 22:55
GEA Group Aktiengesellschaft: GEA adjusts outlook for the 2018 fiscal year
GEA Group Aktiengesellschaft / Key word(s): Change in Forecast
GEA Group Aktiengesellschaft: GEA adjusts outlook for the 2018 fiscal year
10-Oct-2018 / 22:55 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.
GEA adjusts outlook for the 2018 fiscal year
Based on the preliminary figures for the third quarter of 2018, the Executive Board of GEA Group Aktiengesellschaft has decided to adjust the outlook for the 2018 fiscal year. Compared with the same period last year, the positive trend in order intake, revenue and earnings has persisted throughout the third quarter of 2018:
- Order intake of approx. EUR 1,180 million (+12 percent; previous year: EUR 1,056.7 million)
- Revenue of approx. EUR 1,180 million (+4 percent; previous year: EUR 1,130.7 million)
- Operating EBITDA* of approx. EUR 135 million (+12 percent; previous year: EUR 120.5 million)
However, earnings development, particularly in the customer industry Dairy Processing, falls short of the company’s own expectations. This is why, for the 2018 fiscal year, the Executive Board currently expects revenue of approx. EUR 4,800 million (or approx. EUR 4,950 million on constant exchange rates) and operating EBITDA of approx. EUR 540 million (or approx. EUR 550 million on constant exchange rates). This corresponds to an operating EBITDA margin of approx. 11.3 percent (or approx. 11.1 percent on constant exchange rates).
Adjusted outlook
Accordingly, and on constant exchange rates, the Executive Board expects the following figures for the current fiscal year:
- Revenue growth of approx. 7.5 percent (previously: at the upper end of 5 to 6 percent)
- Operating EBITDA margin of approx. 11.1 percent (previously: at the lower end of 12 to 13 percent)
- Operating cash flow driver** margin of approx. 8.5 percent (previously: at the lower end of 8.7 to 9.7 percent)
The other assumptions remain unchanged as outlined in the 2017 Annual Report (p. 120) and the 2018 Half-Yearly Financial Report (p. 15).
Results of the third quarter will be published on October 29th, 2018.
* operating EBITDA as defined in the 2018 Half-Yearly Financial Report, pp. 8 and 44ff.
** operating cash flow driver as defined in the 2018 Half-Yearly Financial Report, p. 3
Contact:
GEA Group Aktiengesellschaft
Donat von Mueller
Head of IR
Phone +49 (0)211 9136 1081
Fax +49 (0)211 9136 31087
10-Oct-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 |