Düsseldorf

At today’s Annual General Meeting the Düsseldorf-headquartered mechanical engineering group GEA announced that order intake of the first quarter 2013 amounted to EUR 1,447 million. Adjusted for currency effects and acquisitions, it was thus down EUR 85 million from the previous year (EUR 1,545 million) in organic terms. In this context it also must be taken into consideration that due to a large order in excess of EUR 70 million, GEA saw a record order intake in the equivalent prior-year period. Taking these effects into account, order intake in the first quarter of 2013 nearly reached last year's level or, respectively, the level of the fourth quarter of 2012. 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).The company will publish detailed figures relating to the course of the first quarter on May 8, 2013.

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