DGAP-News: GEA Group Aktiengesellschaft: GEA increases operating margin to 10 percent in Q3/2011
(firmenpresse) - DGAP-News: GEA Group Aktiengesellschaft / Key word(s): Quarter Results
GEA Group Aktiengesellschaft: GEA increases operating margin to 10
percent in Q3/2011
02.11.2011 / 07:30
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Düsseldorf, November 2, 2011 - GEA recorded an order intake of EUR 1,402.8
million in the third quarter of 2011, up 21.7 percent year-on-year (organic
growth: 11.4 percent). Revenue also jumped by 24.2 percent year-on-year to
EUR 1,397.4 million (organic growth: 13.5 percent). Operating profit, i.e.
before purchase price allocation effects, grew again in the reporting
period, rising 46.8 percent to EUR 139.1 million. The corresponding EBIT
margin for the GEA Group increased by 153 basis points to 10.0 percent.
Third-quarter earnings per share more than doubled, to EUR 0.47 in 2011
(from EUR 0.19 in the prior-year period), since the reorganization expenses
were fully provided for in the 2010 result. After adjustments for the
effects of purchase price allocations, earnings per share in the third
quarter even amounted to EUR 0.50.
'Predictions concerning the development of the global economy are more
difficult than in the past, nevertheless we would like to confirm our
outlook for fiscal year 2011 as we gave it in the second quarter. We expect
for 2011 again that the fourth quarter will be GEA's strongest', said Jürg
Oleas, CEO of GEA Group Aktiengesellschaft.
Taking into account all acquisitions, GEA predicts an order intake in the
range from EUR 5.4 million to EUR 5.6 million and revenue in the range from
EUR 5.1 billion to EUR 5.3 billion. Excluding the new GEA Convenience-Food
Technologies Segment (GEA CT), the company predicts an operating EBIT
margin of between 9.3 and 9.5 percent. For the new GEA CT Segment, the
company predicts an operating EBIT margin before non-recurring integration
expenses of between 8.5 and 9.0 percent.
The group will announce its preliminary results for the year at a press
conference on February 6, 2012.
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.
Q3 2011 Q3 2010
Order Intake 1,402.8 1,152.6
Revenue 1,397.4 1,124.7
Order backlog 2,755.7 2,423.7
EBITDA pre purchase price allocation 1)3) 165.8 117.6
as % of revenue 11.9 10.5
EBITDA 1) 166.4 117.6
EBIT pre purchase price allocation 2)3) 139.1 94.8
as % of revenue 10.0 8.4
EBIT 2) 130.6 92.6
as % of revenue 9.3 8.2
EBT 110.9 49.5
Profit after tax from continuing operations 85.9 35.3
Profit or loss after tax from discontinued operat. - -0.0
Profit for the period 85.9 35.3
Earnings per share pre purchase allocation 4) 0.50 0.20
Earnings per share 4)0.47 0.19
Working capital (reporting date) 5) 720.4 566.4
Working capital (average) 6) 639.9 564.3
as % of revenue 7) 12.6 13.1
Net debt 8)9) 672.9 97.4
ROCE in % 6)10)11) 12.5 11.5
ROCE in % (goodwill adjusted) 6)10)12) 19.8 19.5
Capital expenditure on property, plant and equip. 37.9 15.8
Employees (reporting date) 13) 23,726 20,421
1) in 2010 before restructuring expenses of 31.0 EUR million (Q3) and 47.2
EUR million (Q1-Q3)
2) in 2010 before restructuring expenses of 31.5 EUR million (Q3) and 47.8
EUR million (Q1-Q3)
3) before effects 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 before restructuring expenses/capital employed (average)
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) excl. 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 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 September 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). Further information is
available on the Internet at: www.geagroup.com.
To unsubscribe from GEA Group Aktiengesellschaft's news distribution list,
please send an e-mail to pr(at)geagroup.com or call us on +49-211-9136-1492.
Contact:
GEA Group Aktiengesellschaft
Phone +49 (0)211 9136 1492
Fax +49 (0)211 9136 31087
www.geagroup.com
End of Corporate News
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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
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, München; Freiverkehr in Hannover,
Stuttgart
End of News DGAP News-Service
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