Based on the preliminary figures for the third quarter of 2018, the Executive Board of GEA Group Aktiengesellschaft has decided to adjust the outlook for the 2018 fiscal year.
At today’s meeting, the Supervisory Board of GEA Group Aktiengesellschaft has appointed Stefan Klebert (53) to the company’s Executive Board with effect from November 15, 2018. On February 18, 2019, he will succeed the long-serving CEO, Jürg Oleas (60), who is going to leave the company after completion of the fiscal year and after handing over the reins in February 2019.
Today, the Supervisory Board of GEA Group Aktiengesellschaft and Dr. Helmut Schmale (61), Chief Financial Officer of GEA Group Aktiengesellschaft, have mutually agreed that Helmut Schmale will step down from the Executive Board prior to the termination of his appointment due to expire at the end of March 2021.
For the first quarter of 2018, GEA anticipates the following preliminary results: Operating EBITDA* is expected to amount to approximately EUR 65 million (previous year EUR 96 million).
Today, the long-standing CEO of GEA Group Aktiengesellschaft, Jürg Oleas (60), has informed the Chairman of the Supervisory Board, Dr. Helmut Perlet, that he is not seeking to extend his term of office beyond December 31, 2019. Furthermore, Jürg Oleas also suggested to leave the Executive Board at the Annual General Meeting in April 2019 in order to allow a swift change in leadership.
GEA projects the following preliminary figures for the 2017 fiscal year (excluding effects from acquisitions made in 2017): At approximately EUR 4,750 million (previous year EUR 4,674 million), order intake is moderately above the prior-year level. Revenue is up by almost 2 percent to approximately EUR 4,580 million (previous year EUR 4,492 million).
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.