Ad-hoc notification according to Article 17 MAR Preliminary Q2-figures, adjustment of Guidance for 2017
Based on preliminary figures, GEA for the second quarter 2017 expects an order intake of approx. EUR 1,241 million (prior year: EUR 1,222 million), working capital of approx. EUR 710 million (prior quarter: EUR 760 million), revenues of approx. EUR 1,141 million (prior year: EUR 1,157 million), and an operating EBITDA* of approx. EUR 122 million (prior year: EUR 145 million).
Today, making use of the authorization to acquire and use treasury stock granted by the Annual General Meeting on April 16, 2015, the Executive Board of GEA Group Aktiengesellschaft decided with the consent of the Supervisory Board, that the Company shall purchase own shares in an aggregate value of up to EUR 450 mn (not including ancillary acquisition costs) on the stock exchange during the period from March 1, 2017 through February 28, 2018.
Based on preliminary figures for September 2016, GEA expects for Q3 2016 sales around EUR 1,100 million (last year EUR 1,107 million, -1.8% organic change – i.e. adjusted for currency and acquisition effects – against Q3 2015), order intake around EUR 1,084 million (last year EUR 1,068 million, 0.3% organic change against Q3 2015) and operating EBITDA* around EUR 113 million (last year EUR 144 million).
Within the scope of its “Fit for 2020” initiative, the Executive Board of GEA Group Aktiengesellschaft resolved to introduce a new group structure.
GEA Group Aktiengesellschaft sells its segment Heat Exchangers to funds advised by Triton.
The management board of GEA Group Aktiengesellschaft decided with the approval of the supervisory board to separate from the segment GEA Heat Exchangers in the medium term.
A settlement was reached today before Dortmund Regional Court in the award proceedings between the applicants, including the joint representatives, and GEA Group Aktiengesellschaft.