DGAP-Media: GEA Group Aktiengesellschaft: GEA continues on successful path
(firmenpresse) - GEA Group Aktiengesellschaft / Key word(s): Enterprise
29.10.2010 07:30
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* Order intake up 20% on prior-year quarter
* Revenue 6% higher than Q3 2009
* EBIT before restructuring up 6% on prior-year quarter
* Ratio of working capital to revenue reduced by 415 bps to 13.1%
* Outlook for 2010 confirmed
Bochum, October 29, 2010 - In the third quarter of 2010, GEA Group
Aktiengesellschaft's order intake increased by 19.8 percent compared with
the previous year to EUR 1,153 million (Q3 2009: EUR 962 million), which
represents year-on-year growth of 8.4 percent in the first nine months. The
Company continues to expect a rise of 7 to 10 percent for fiscal year 2010.
Revenue in the third quarter was up by 5.6 percent as against Q2 2010 to
EUR 1,125 million and by 6.0 percent compared with the prior-year quarter.
Earnings before interest, tax, and restructuring expenses increased by 6.1
percent. As in Q3 2009, the EBIT margin adjusted for restructuring expenses
amounted to 8.2 percent, up 150 basis points on Q2 2010.
'The year-on-year reduction in our working capital is particularly
encouraging,' said Jürg Oleas, Chairman of the Executive Board of GEA Group
Aktiengesellschaft. 'This contributed to an improvement in our net debt,
which declined by EUR 117 million as against the prior-year figure.'
Commenting on market developments, Oleas added: 'The positive trends from
the second quarter continued in Q3. As a result, we are confirming our
previous outlook for the fiscal year.'
GEA Group consolidated data
(EUR million) Q3 2010 Q3 2009
Order Intake 1,152.6 962.3
Revenue 1,124.7 1,060.8
EBITDA before restructuring expenses 117.6 111.7
as % of revenue 10.5 10.5
EBITDA 86.7 87.9
EBIT before restructuring expenses 92.6 87.2
as % of revenue 8.2 8.2
EBIT 61.1 63.5
as % of revenue 5.4 6.0
EBT 49.5 49.3
Profit after tax from continuing operations 35.3 36.0
Profit or loss after tax from discontinued operat. -0.0 -1.2
Profit for the period 35.3 34.8
Earnings per share from continuing operations 1) 0.19 0.19
Earnings per share from discontinued operations 1) 0.00 -0.01
Earnings per share 1) 0.19 0.19
Net debt 2)3) 97.4 214.1
Capital expenditure 15.8 22.1
Employees as of the reporting date 4) 20,421 20,708
1) in EUR
2) Including discontinued operations
3) Net debt= loan liabilities - cash - securities
4) Full-time equivalents (FTE) excl. apprentices/trainees and
inactive employment contracts
GEA Group Aktiengesellschaft is one of the largest system providers for
food and energy processes with about EUR 4.4 billion in 2009 revenue. As an
internationally operating technology group, the company focuses on process
technology and components for demanding production processes in various end
markets. The group gains about 70 percent of its revenue in the long-term
growing food and energy industries. The company's workforce comprised over
20,000 employees worldwide as of September 30, 2010. GEA Group is a market
and technology leader in its business areas. The company is listed in the
MDAX index (G1A, WKN 660 200).
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Language: English
Company: GEA Group Aktiengesellschaft
Dorstener Straße 484
44809 Bochum
Deutschland
Internet: www.geagroup.com
End of Announcement DGAP-Media
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Datum: 29.10.2010 - 07:30 Uhr
Sprache: Deutsch
News-ID 32442
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