GEA Group Aktiengesellschaft: GEA lifted by demand from food process technology
(firmenpresse) - GEA Group Aktiengesellschaft / Key word(s): Enterprise/
GEA Group Aktiengesellschaft: GEA lifted by demand from food process
technology
DGAP-Media / 08.05.2012 / 07:30
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GEA lifted by demand from food process technology
Düsseldorf, May 8, 2012 - GEA generated a 24.4 percent increase in its
order intake to EUR 1,544.9 million in the first quarter of 2012. As in the
previous quarters, this again represented a significant year-on-year
increase. In line with this trend, consolidated revenue also rose by 21.7
percent year-on-year to EUR 1,263.7 million.
Adjusted for purchase price allocation effects of EUR 6.4 million (previous
year: EUR 2.2 million), operating EBIT declined by EUR 29.8 million and the
operating EBIT margin fell back to 3.1 percent. This is mainly a result of
changes in estimates in the Food Solutions Segment, which reduced
consolidated profit in the first quarter by a total of approximately EUR 36
million due to nonrecurring factors. However, only a small proportion of
the underlying negative changes in estimates are cash expenses. Excluding
the new GEA Food Solutions Segment, the result would have been an increase
of EUR 15.3 million or 22.2 percent to EUR 84.3 million, with the EBIT
margin rising by 32 basis points to 7.0 percent.
'The ongoing strong demand for food process technology worldwide is the
main reason for our order intake's encouraging development. This is why the
food and beverage sector expanded by 38 percent, increasing its share of
GEA's business to more than 55 percent. Small orders with a volume of less
than EUR 1 million also contributed in particular to this increase,
exceeding the threshold of EUR 1 billion for the first time in Q1,' said
Jürg Oleas, Chairman of the Executive Board of GEA Group
Aktiengesellschaft.
GEA Group: Key IFRS figures (EUR million)
All figures as of the reporting date already include the acquisitions of
CFS and Bock starting from the second quarter. These acquisitions will be
reported in the figures for the period.
Q1 2012 Q1 2012 Q1 2011 1)
without GEA FS
Order Intake 1,544.9 1,447.5 1,242.1
Revenue 1,263.7 1,211.0 1,038.0
Order backlog 2,935.6 2,812.8 2,666.6
EBITDA pre purchase price allocation
and one-offs 2)3) 100.8 108.1 91.9
EBITDA pre purchase price
allocation 3) 65.0 108.1 91.9
as % of revenue 5.1 8.9 8.9
EBITDA 64.9 108.0 91.9
EBIT pre purchase price allocation and
one-offs 2)3) 74.9 84.3 69.0
EBIT pre purchase price allocation 3) 39.2 84.3 69.0
as % of revenue 3.1 7.0 6.6
EBIT 32.8 66.8
as % of revenue 2.6 6.4
EBT 16.3 55.9
Profit for the period 12.7 39.8
Earnings per share pre purchase
allocation 4) 0.10 0.22
Earnings per share 4) 0.07 0.22
Working capital (reporting date) 5) 771.6 647.3
Working capital (average) 5)6) 730.0 561.3
as % of revenue 7) 12.9 12.4
Net liquidity (+)/Net debt (-) 8)9) -635.5 -550.0
ROCE in % 10)11) 11.9 12.3
ROCE in % (goodwill adjusted) 10)12) 17.9 20.6
CAPEX on property, plant and equipment 22.7 15.4
Employees (reporting date) 13) 24,337 22,945
1) Amounts adjusted due to change in accounting policy for pension
obligations and leasing obligations (Q1 report 2012 page 32 f.)
2) Before one-offs from GEA FS due to changes of estimation
(35.8 EUR million)
3) Before amortization and depreciation specifically of purchase
price allocations from acquisitions
4) EUR
5) Working capital = inventories + trade receivables - trade
payables - advance payments received
6) Average of the past 12 months
7) Working capital (average of the past 12 months) / revenue of
the past 12 months
8) Including discontinued operations
9) Net liquidity/debt = cash and cash equivalents + marketable
securities - liabilities to banks
10) ROCE = EBIT (sum of last 12 month, in 2010 before restructuring
expenses) / capital employed (average of the past 12 months)
11) Capital employed including goodwill from the acquisition of
the former GEA AG by the former Metallgesellschaft AG in 1999
12) Capital employed excluding goodwill from the acquisition of
the former GEA AG by the former Metallgesellschaft AG in 1999
13) Full-time equivalents (FTE) excluding vocational trainees and
inactive employment contracts
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 24,000 people worldwide as of March 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 the STOXX(R) Europe 600 Index. 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)gea.com
Internet: www.gea.com
ISIN: DE0006602006
WKN: 660200
Indices: MDAXListed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, München; Freiverkehr in Hannover,
Stuttgart
End of News DGAP-Media
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