DGAP-News: GEA Group Aktiengesellschaft: GEA reaches communicated guidance in a difficult environment
(firmenpresse) - DGAP-News: GEA Group Aktiengesellschaft / Key word(s): Preliminary
Results/Dividend
GEA Group Aktiengesellschaft: GEA reaches communicated guidance in a
difficult environment
06.02.2013 / 07:30
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GEA reaches communicated guidance in a difficult environment
* Order intake increases by 5.2% to EUR 5,901 million, revenue up 5.6% to
EUR 5,720 million
* Operating EBIT rises to EUR 562 million, resulting in an operating EBIT
margin of 9.8%
* Net debt reduced by EUR 62 million to EUR 326 million
* Dividend proposal: EUR 0.55
Düsseldorf, February 6, 2013 - GEA Group's order intake increased by 5.2
percent in fiscal year 2012 to EUR 5,901 million and reached EUR 1,478
million in the fourth quarter of 2012, repeating the level recorded in the
third quarter. Despite the increasingly difficult economic environment, no
weakening in demand was therefore evident. Group revenue for the full year
rose by 5.6 percent to EUR 5,720 million.
Operating EBIT, meaning EBIT before the effect of purchase price allocation
and one-offs in the GEA Food Solutions Segment, increased again last fiscal
year by around 7.1 percent to EUR 562 million. Various operational
improvement programs contributed to this. As a result, the group's
operating EBIT margin improved by around 10 basis points to 9.8 percent.
Excluding the GEA Food Solutions Segment, the operating EBIT margin was
actually at a record high of 10.7 percent, following an already outstanding
10.0 percent in the previous year. Discontinued operations again did not
have any impact on consolidated profit.
Net debt compared with December 31, 2011, (EUR 387 million) narrowed by EUR
62 million to EUR 326 million as of December 31, 2012. This was primarily
attributable to the reduction in working capital. The ratio of working
capital to revenue decreased to 9.3 percent at the reporting date (previous
year: 10.7 percent).?'Thanks to the outstanding achievements of our employees, we further
increased both our revenue and our operating EBIT margin in an increasingly
difficult economic environment. We have resolved to distribute a bonus of
approximately EUR 5 million to non-executive employees in recognition of
their outstanding work,' noted Jürg Oleas, CEO of GEA Group
Aktiengesellschaft. He announced that 'In light of these encouraging
figures, the Executive Board and Supervisory Board will propose an
unchanged dividend of EUR 0.55 to the Annual General Meeting for the
increased number of shares, which now total 192.5 million.'
For the current 2013 fiscal year, GEA believes that demand in its sales
markets will match the high levels seen in 2012. Assuming that there is no
downturn in global economic growth, the group is expecting moderate revenue
growth in the current fiscal year. With regard to cash flow drivers, namely
the net amount of EBITDA, capital expenditures and change in working
capital, GEA is aiming for a ratio to revenue of at least 8.0 percent in
2013, after 6.5 percent in the previous year. In terms of price quality,
the market environment is also expected to remain unchanged as against
2012. On this basis, earnings (EBITDA) of around EUR 700 million are
targeted for 2013 (around EUR 600 million prior year).
All figures for 2012 are preliminary and have not yet been audited. GEA's
consolidated financial statements and the annual financial statements of
GEA Group Aktiengesellschaft are being prepared by the Executive Board and
will be approved by the Supervisory Board at the beginning of March. The
audited Annual Report will be published on GEA Group's website on March 11,
2013.
Preliminary figures for GEA Group for 2012
All figures as of the reporting date for 2011 already include the
acquisitions of CFS and Bock starting from the second quarter 2011. These
acquisitions will be reported in the figures for the period.
Q1-Q4 2012 Q1-Q4 2011
Order Intake 5,901.1 5,609.7
Revenue 5,720.1 5,416.5
Order backlog 2,751.6 2,677.3
Operative EBITDA 1) 662.8 630.1
as % of revenue 11.6 11.6
EBITDA 597.8 610.2
Operative EBIT 1) 561.6 524.6
as % of revenue 9.8 9.7
EBIT 454.8 474.6
as % of revenue 8.0 8.8
EBT 366.9 398.6
Working capital (reporting date) 533.2 577.1
Working capital (average) 2) 752.7 685.2
as % of revenue 13.2 12.6
Net liquidity (+)/Net debt (-) -325.5 -386.8
CAPEX on property, plant and equipment 161.2 155.2
Employees (reporting date) 3) 24,498 23,834
1) Before effects of purchase price allocations from revalued assets and
liabilities and one-offs
2) Average of the past 12 months
3) 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 2012, GEA generated consolidated revenues in
excess of EUR 5.7 billion, 70 percent of which came from the food and
energy sectors, which are long-term growth industries. The group employed
about 24,500 people worldwide as of December 31, 2012. 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 Corporate News
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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.comISIN: DE0006602006
WKN: 660200
Indices: MDAX
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, München; Freiverkehr in Hannover,
Stuttgart
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