GEA Group AG

Earnings Release • May 6, 2010

News Details

Corporate | 6 May 2010 07:30

GEA Group Aktiengesellschaft: Solid results in Q1

GEA Group Aktiengesellschaft / Quarter Results

06.05.2010 07:30

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* Order intake: EUR 1,010.2 million
* EBIT before restructuring expenses: EUR 52.6 million (EBIT margin: 5.6%)
* Earnings per share: EUR 0.15

Bochum, May 6, 2010 - In an environment that remained challenging, GEA
Group Aktiengesellschaft's order intake in the first quarter was on a level
with Q4 2009 at EUR 1,010.2 million. The 11.0 percent year-on-year
reduction in sales reflects the decline in order intake in 2009, with a
time lag.

Although EBIT was below the prior-year figure at EUR 51.3 million (before
restructuring expenses: EUR 52.6 million), the EBIT margin increased to 5.5
percent (before restructuring expenses: 5.6 percent). Discontinued
operations again had no impact on the group's results in the first quarter.
Liquidity has declined since the end of the past fiscal year due to the
increase in working capital that is attributable to seasonal factors.
However, the ratio of working capital to the annual revenue improved as
against the prior-year quarter.

'Although we were again confronted by the effects of the financial and
economic crisis in the first quarter, we have generated respectable
results,' said Jürg Oleas, CEO of GEA Group Aktiengesellschaft. 'We
stabilized our order intake in the first quarter at the level of Q4 2009,
and therefore above EUR 1 billion. Our profitability increased compared
with the prior-year period. This shows that the measures we implemented to
adjust capacity in 2009 are now taking full effect, despite price
pressures.'

GEA Group consolidated data for Q1 2010
(EUR million) Q1 2010 Q1 2009

Order Intake 1,010.2 1,072.5
Revenue 938.2 1,054.5
EBITDA before restructuring expenses 78.1 78.9
as % of revenue 8.3 7.5
EBITDA 76.8 76.7
EBIT before restructuring expenses 52.6 56.0
as % of revenue 5.6 5.3
EBIT 51.3 53.8
as % of revenue 5.5 5.1
EBT 37.2 39.5
Profit after tax from continuing operations 27.2 28.8
Profit or loss after tax from discontinued operat. 0.0 0.0
Profit for the period 27.2 28.8
Earnings per share from continuing operations 1) 0.15 0.16
Earnings per share from discontinued operations 1) 0.00 0.00
Earnings per share 1) 0.15 0.16
Net debt 2)3) 75.7 211.2
Capital expenditure 13.4 31.9
Employees as of the reporting date 4) 20,441 21,257
1) in EUR
2) Including discontinued operations
3) Net debt= bank liabilities - cash - securities
4) Full-time equivalents (FTE) excl. apprentices/trainees and
inactive employment contracts

06.05.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: GEA Group Aktiengesellschaft
Dorstener Straße 484
44809 Bochum
Deutschland
Phone: +49 (0)234 980-0
Fax: +49 (0)234 980-1004
E-mail: ir@geagroup.com
Internet: www.geagroup.com
ISIN: DE0006602006
WKN: 660200
Indices: MDAX
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard),
Düsseldorf, München, Hamburg; Freiverkehr in Hannover,
Stuttgart

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