DGAP-News: GEA Group Aktiengesellschaft: GEA lifts operating EBIT by 48 percent in Q2
(firmenpresse) - DGAP-News: GEA Group Aktiengesellschaft / Key word(s): Half Year
Results/Change in Forecast
GEA Group Aktiengesellschaft: GEA lifts operating EBIT by 48 percent
in Q2
29.07.2011 / 07:30
---------------------------------------------------------------------
* Q2 order intake up 25% year-on-year to EUR 1,463 million
* Q2 revenue up 27% year-on-year to EUR 1,349 million
* Earnings per share in Q2 up 82% to EUR 0.28
Düsseldorf, July 29, 2011 - In the second quarter of 2011, GEA's order
intake increased by 25.3 percent to EUR 1,462.5 million (organic growth:
17.5 percent). In the same period, revenue rose by 26.6 percent to EUR
1,349.0 million (organic growth: 17.1 percent). Operating profit, i.e.
before the effects of purchase price allocations, was up by 47.6 percent to
EUR 109.0 million. The corresponding EBIT margin for the Group grew by 115
basis points to 8.1 percent.
Earnings per share increased by 81.5 percent to EUR 0.28 in the second
quarter, compared with EUR 0.15 in the comparable prior-year period. After
adjustment for the effects of purchase price allocations, earnings per
share amounted to an impressive EUR 0.41 in Q2.
GEA also raised its forecast for 2011 and is now expecting - including all
acquisitions - an order intake of between EUR 5.4 and 5.6 billion and
revenue of between EUR 5.1 and 5.3 billion. Excluding the new GEA
Convenience-Food Technologies (GEA CT) Segment, the Company is predicting
an operating EBIT margin of between 9.3 and 9.5 percent. An operating EBIT
margin of between 8.5 and 9.0 percent is forecast for the GEA CT Segment
for the period from April to December. This outlook assumes a continued
stable economic environment.
'Our already existing five segments performed rather well in the first half
of the year. This is due to both a positive market environment and our
adjustment measures. The additional business generated by our new segment,
GEA Convenience-Food Technologies, has also contributed to the growth in
our operating profit since the second quarter,' said Jürg Oleas, Chairman
of the Executive Board of GEA Group Aktiengesellschaft.
GEA Group: Key IFRS figures (EUR million)
All balance-sheet figures as of the reporting date contained the CFS and
Bock acquisitions already as at Q1 2011. In the income statement, these
acquisitions are only included since the second quarter.
Q2 2011 Q2 2010
Order Intake 1,462.5 1,167.3
Revenue 1,349.0 1,065.1
Order backlog 2,770.6 2,468.5
EBITDA pre purchase price allocation 1)2) 134.7 98.3
as % of revenue 10.0 9.2
EBITDA 1) 115.1 98.3
EBIT pre purchase allocation 1)2) 109.0 73.9
as % of revenue 8.1 6.9
EBIT 1) 78.7 71.7
as % of revenue 5.8 6.7
EBT 62.1 41.3
Profit after tax from continuing operations 51.6 28.8
Profit or loss after tax from discontinued operat. - 0.0
Profit for the period 51.6 28.8
Earnings per share pre purchase allocation 3) 0.41 0.16
Earnings per share 3) 0.28 0.15
Working capital (reporting date) 4) 707.3 555.4
Working capital (average) 5) 593.2 592.1
as % of revenue 6) 12.4 13.9
Net debt 7)8) 698.9 106.1
ROCE in % 5)9)10) 12.0 11.5
ROCE in % (goodwill adjusted) 5)9)11) 19.6 19.0
Capital expenditure on property, plant and equip. 41.4 17.3
Employees (reporting date) 12) 23,098 20,401
1) in 2010 before restructuring expenses of 15.0 EUR million (Q2) and 16.3
EUR million (Q1-Q2)
2) before amortization and depreciation of purchase price allocations from
acquisitions, including those prior to Q2 2011
3) EUR
4) Working capital = inventories + trade receivables - trade payables -
advance payments received
5) Average of the past 12 months
6) Working capital (average of the past 12 months) / revenue of the past
12 months
7) Including discontinued operations
8) Net liquidity/debt = cash and cash equivalents + marketable securities -
liabilities to banks
9) ROCE = EBIT before restructuring expenses/capital employed (average)
10) Capital employed including goodwill from the acquisition of the
former GEA AG by the former Metallgesellschaft AG in 1999
11) Capital employed excluding goodwill from the acquisition of the
former GEA AG by the former Metallgesellschaft AG in 1999
12) Full-time equivalents (FTE) excl. vocational trainees and
inactive employment contracts
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 2010, GEA generated consolidated revenues in
excess of EUR 4.4 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 June 30, 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).
To unsubscribe from GEA Group Aktiengesellschaft's news distribution list,
please send an e-mail to pr(at)geagroup.com or call us on +49
(0)211-9136-1492.
Contact:
GEA Group Aktiengesellschaft
Phone +49 (0)211 9136 1492
Fax +49 (0)211 9136 31087
www.geagroup.com
End of Corporate News
---------------------------------------------------------------------
29.07.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
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
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, München; Freiverkehr in Hannover,
Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
133646 29.07.2011
Datum: 29.07.2011 - 07:30 Uhr
Sprache: Deutsch
News-ID 39239
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 174 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: GEA Group Aktiengesellschaft: GEA lifts operating EBIT by 48 percent in Q2"
steht unter der journalistisch-redaktionellen Verantwortung von
GEA Group Aktiengesellschaft (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
