GEA Group
 
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GEA reaches communicated guidance in a difficult environment

• Order intake increases by 5.2% to EUR 5,901 million, revenue up 5.6% to EUR 5,720 million
• Operating EBIT rises to EUR 562 million, resulting in an operating EBIT margin of 9.8%
• Net debt reduced by EUR 62 million to EUR 326 million
• Dividend proposal: EUR 0.55

Düsseldorf, February 6, 2013 – GEA Group’s order intake increased by 5.2 percent in fiscal year 2012 to EUR 5,901 million and reached EUR 1,478 million in the fourth quarter of 2012, repeating the level recorded in the third quarter. Despite the increasingly difficult economic environment, no weakening in demand was therefore evident. Group revenue for the full year rose by 5.6 percent to EUR 5,720 million.

Operating EBIT, meaning EBIT before the effect of purchase price allocation and one-offs in the GEA Food Solutions Segment, increased again last fiscal year by around 7.1 percent to EUR 562 million. Various operational improvement programs contributed to this. As a result, the group’s operating EBIT margin improved by around 10 basis points to 9.8 percent. Excluding the GEA Food Solutions Segment, the operating EBIT margin was actually at a record high of 10.7 percent, following an already outstanding 10.0 percent in the previous year. Discontinued operations again did not have any impact on consolidated profit.

Net debt compared with December 31, 2011, (EUR 387 million) narrowed by EUR 62 million to EUR 326 million as of December 31, 2012. This was primarily attributable to the reduction in working capital. The ratio of working capital to revenue decreased to 9.3 percent at the reporting date (previous year: 10.7 percent).

“Thanks to the outstanding achievements of our employees, we further increased both our revenue and our operating EBIT margin in an increasingly difficult economic environment. We have resolved to distribute a bonus of approximately EUR 5 million to non-executive employees in recognition of their outstanding work,” noted Jürg Oleas, CEO of GEA Group Aktiengesellschaft. He announced that “In light of these encouraging figures, the Executive Board and Supervisory Board will propose an unchanged dividend of EUR 0.55 to the Annual General Meeting for the increased number of shares, which now total 192.5 million.”

For the current 2013 fiscal year, GEA believes that demand in its sales markets will match the high levels seen in 2012. Assuming that there is no downturn in global economic growth, the group is expecting moderate revenue growth in the current fiscal year. With regard to cash flow drivers, namely the net amount of EBITDA, capital expenditures and change in working capital, GEA is aiming for a ratio to revenue of at least 8.0 percent in 2013, after 6.5 percent in the previous year. In terms of price quality, the market environment is also expected to remain unchanged as against 2012. On this basis, earnings (EBITDA) of around EUR 700 million are targeted for 2013 (around EUR 600 million prior year).




All figures for 2012 are preliminary and have not yet been audited. GEA’s consolidated financial statements and the annual financial statements of GEA Group Aktiengesellschaft are being prepared by the Executive Board and will be approved by the Supervisory Board at the beginning of March. The audited Annual Report will be published on GEA Group’s website on March 11, 2013.


Preliminary figures for GEA Group for 2012

All figures as of the reporting date for 2011 already include the acquisitions of CFS and Bock starting from the second quarter 2011. These acquisitions will be reported in the figures for the period.




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 2012, GEA generated consolidated revenues in excess of EUR 5.7 billion, 70 percent of which came from the food and energy sectors, which are long-term growth industries. The group employed about 24,500 people worldwide as of December 31, 2012. 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) and the STOXX® Europe 600 Index.

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