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Ad hoc: GEA releases preliminary figures for 2018 and gives first indication for the 2019 financial year

06 Feb 2019

Based on preliminary figures, GEA expects for the financial year 2018 an order intake of approximately EUR 4,920 million (previous year: EUR 4,751 million; organic growth*: plus 2.2 percent), revenue in the amount of about EUR 4,830 million (previous year: EUR 4,605 million) and an operating EBITDA** of approximately EUR 515 to 520 million (previous year: EUR 564 million).

GEA Center Düsseldorf

In financial year 2018 and based on constant exchange rates:

  • revenue rose by approximately 7.9 percent (most recent forecast: approximately plus 7.5 percent)
  • operating EBITDA margin amounted to about 10.5 percent (most recent forecast: approximately 11.1 percent)
  • operating cash flow driver*** margin amounted to approximately 6.0 percent (most recent forecast: 6.5 to 7.0 percent). 

Nonetheless, also supported by the reduction in working capital of around EUR 150 million during the fourth quarter, the net liquidity at the end of December 2018 improved to approximately EUR minus 70 million (actual net liquidity at the end of September 2018: EUR minus 330 million). 

From today's perspective, the Executive Board expects for 2019 that revenues will be moderately lower than in the previous year and that operating EBITDA will decline to a range from EUR 440 to 480 million. Herein, for the sake of comparability, the effects from the initial application of IFRS 16 are not yet reflected. 

This indicative assessment is based, on the one hand, on the further deteriorating macroeconomic conditions entailing increased price pressure. On the other hand, rising personnel and IT infrastructure costs will have an adverse impact on profitability in the current financial year. In addition, the preliminary 2018 result benefits from non-recurring other operating income in the order of some EUR 20 to 25 million.

In view of these developments, GEA considers its mid-term guidance from March 2018 no longer valid.

Based on the cautious preliminary outlook, GEA assumes that tax loss carryforwards will be usable only to a lesser extent, which should result in a tax expense in the financial year 2018 from an impairment of deferred tax assets by a higher double-digit million amount.

On March 14, 2019, GEA will publish its final figures for 2018, including the dividend distribution proposal, as well as the final outlook for the 2019 financial year together with the audited consolidated financial statements for the year 2018. 


* organic growth: adjusted for currency translation effects and changes in the scope of consolidated companies (in 2018 in particular the acquisitions Pavan and VIPOLL)

**operating EBITDA as defined in the 2018 Half-Yearly Financial Report, p.8 and 44ff.

*** operating cash flow driver as defined in the 2018 Half-Yearly Financial Report, p.3 

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About GEA

GEA 是食品加工行业及众多工业领域的领先供应商之一,2019 年的销售总额约达 49 亿欧元。

作为国际技术集团,我们专注于机械制造,生产运营,工艺技术及其设备组件。 GEA 为各种终端用户市场的复杂生产流程提供可持续的能源解决方案,并提供全面的服务组合。集团在长期持续增长的食品和饮料行业的收入约占其总收入的 70%。截至 2018 年 12 月 31 日,集团的全球员工已超过 18,500 人。GEA 在其业务领域中是市场和技术领导者。GEA 是德国 MDAX 上市公司(G1A,WKN 660 200),拥有 STOXX® Europe 600 指数和优选的 MSCI 全球可持续发展指数。
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