GEA Group Aktiengesellschaft: GEA starts the year 2012 with an increase in order intake
(firmenpresse) - GEA Group Aktiengesellschaft / Key word(s): Enterprise/
GEA Group Aktiengesellschaft: GEA starts the year 2012 with an
increase in order intake
DGAP-Media / 24.04.2012 / 11:20
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GEA starts the year 2012 with an increase in order intake
Düsseldorf, April 24, 2012 - The Düsseldorf-headquartered mechanical
engineering group GEA recorded two-digit growth rates in terms of both
order intake and revenue in the first quarter and therefore raises its
outlook to an increase in order intake in 2012 by at least 5 percent. At
today's Annual General Meeting the company announced that the brisk order
intake in the prior quarter continued in the first quarter of fiscal 2012,
attaining EUR 1,545 million on a preliminary basis, and this corresponds to
a year-on-year up of 24 percent and a further boost in comparison with the
very good fourth quarter 2011. Given the positive order intake trend of the
past quarters, the preliminary revenue level of the group rose 22 percent
as against the prior-year period, to EUR 1,264 million. With respect to the
preliminary result before purchase price allocation, the company forecasts
an increase of about 20 percent from the respective prior-year mark for the
first quarter 2012, without considering the new GEA Food Solutions Segment.
'We owe the gratifying development of our order intake to worldwide
continuing vigorous demand for food process engineering in the first place,
and this is specifically reflected in the excellent order intake of our GEA
Process Engineering Segment. On this basis we are lifting the outlook
regarding order intake. For the full 2012 fiscal year we are now planning
an increase by at least 5 percent', affirmed Jürg Oleas, CEO of GEA Group
Aktiengesellschaft.
In the GEA Food Solutions Segment, which proceeded from the CFS acquisition
made in early 2011 and was previously named GEA Convenience-Food
Technologies, the group plans to exploit the business potential even better
in future. The new name was given to express more precisely the business
activity of the segment. In February 2012, the Segment Management was
replaced with experienced GEA staff. Following a detailed analysis of the
business, the company decided to review the appraisal of the operations. As
a consequence of this revised assessment, one-off effects totaling
presumably around EUR 35 million will burden the result of the segment and
hence of the group in the first quarter. But the facts having led to this
revision will only be cash-effective to a small extent. In view of the
anticipated continuing favorable business prospects, according to present
assessments this situation will not imply the need for goodwill impairment.
As a result of inefficiencies in implementing the realignment of the
production structure already initiated before the date of acquisition as
well as the not yet fully leveraged business potential in the service
sector, the Food Solutions Segment will recognize an operating loss of
presumably up to EUR 10 million in the first quarter. Action plans to
counter this development are being established right now to ensure that
they will take effect still in the course of the fiscal year. For the full
year 2012 the company plans to achieve a positive operating EBIT margin in
the Food Solutions Segment.
For the current fiscal year 2012, GEA continues to assume that demand of
its outlet markets will slightly exceed the high level of 2011. With this
proviso, the company expects to achieve an increase in order intake of not
less than 5 percent. Revenue is also to rise at least 5 percent. In terms
of price quality, GEA anticipates that the market environment will remain
the same as in 2011 in this respect. With the exclusion of the mentioned
one-off effects at GEA Food Solutions, the company maintains its plan to
reach an operating EBIT margin at least at the prior-year level which was
9.7 percent before purchase price allocation effects for the group as a
whole including the new GEA Food Solutions Segment.
The company will publish the detailed figures relating to the course of the
first quarter on May 8, 2012.
About GEA Group
GEA Group Aktiengesellschaft is one of the largest suppliers of process
technology and components for the food and energy industries. As an
international technology group, the Company focuses on sophisticated
production processes. In 2011, GEA generated consolidated revenues in
excess of EUR 5.4 billion, 70 percent of which came from the food and
energy sectors, which are long-term growth industries. The group employed
about 23,000 people worldwide as of December 31, 2011. GEA Group is a
market and technology leader in its business areas. It is listed in
Germany's MDAX stock index (G1A, WKN 660 200) and STOXX(R) Europe 600.
Further information is available on the Internet at: www.gea.com.
To unsubscribe from GEA Group Aktiengesellschaft's news distribution list,
please send an e-mail to pr(at)gea.com or call us on +49-211-9136-1492.
Contact:
GEA Group Aktiengesellschaft
Phone +49 (0)211 9136 1492
Fax +49 (0)211 9136 31087
www.gea.com
End of Media Release
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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: ir(at)geagroup.com
Internet: www.geagroup.com
ISIN: DE0006602006
WKN: 660200
Indices: MDAX
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, München; Freiverkehr in Hannover,
Stuttgart
End of News DGAP-Media
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