Corporate press release
GEA announces figures for the first quarter 2018
04 May 2018
Thanks to robust growth in small and mid-sized orders, GEA’s order intake in the first quarter of 2018 almost matched the level of the previous year. Although no orders were posted with a volume in excess of EUR 15 million, order intake amounted to EUR 1,103 million. In the same period GEA increased its revenue to EUR 1,039 million. Organic growth, adjusted for exchange rate and acquisition effects, stood at 4.5 percent. While the Business Area Equipment even recorded double-digit organic growth, the figure for the Business Area Solutions remained at the previous year’s level. Operating EBITDA declined to almost EUR 67 million.
“As announced at the beginning of April with the preliminary figures for the first quarter, GEA is still operating in a challenging environment. As a result, we posted currency-related costs and disproportionate growth in revenue from our lower-margin product groups. Likewise, there was a weak result in the US and a lower gross margin especially in the Business Area Solutions,” stated Jürg Oleas, CEO of GEA, in his assessment of the quarterly results.
IFRS key figures1 of GEA
| (EUR million) | Q1 2018 | Q1 2017 | Change in % |
|---|---|---|---|
| Results of operations | |||
| Order intake | 1,102.6 | 1,136.0 | –2.9 |
| Revenue | 1,039.4 | 1,003.9 | 3.5 |
| Order backlog | 2,401.0 | 2,388.9 | 0.5 |
| Operating EBITDA2 | 66.6 | 96.4 | –31.0 |
| as % of revenue | 6.4 | 9.6 | – |
| Operating EBIT2 | 43.8 | 76.3 | –42.7 |
| as % of revenue | 4.2 | 7.6 | – |
| EBIT | 23.5 | 63.6 | –63.0 |
| Net assets | |||
| Working capital intensity in % (average of the last 12 months) | 15.6 | 15.4 | – |
| Net liquidity (+)/Net debt (-) | –162.9 | 718.2 | – |
| Financial position | |||
| Operating cash flow driver margin in %3 | 9.1 | 8.0 | – |
| ROCE in % (goodwill adjusted)4 | 13.6 | 16.5 | – |
| Full-time equivalents (reporting date) | 18,073 | 17,035 | 6.1 |
| GEA Shares | |||
| Earnings per share (EUR) | 0.02 | 0.29 | –93.7 |
1) The key figures for the constant exchange rates are presented on page 5 of the quarterly statement.
2) Before effects of purchase price allocations and adjustments
3) Operating cash flow driver = operating EBITDA – capital expenditure + adjustment of capital expenditure in strategic projects – change in working capital (average of the last 12 months)
4) Capital employed excluding goodwill from the acquisition of the former GEA AG by former Metallgesellschaft AG in 1999 (average of the last 12 months)
Media Relations
GEA Group Aktiengesellschaft
Peter-Müller-Str. 12
40468
Düsseldorf
Germany
+49 211 9136-0
About GEA
GEA is one of the world’s largest suppliers of systems and components to the food, beverage and pharmaceutical industries. The international technology group, founded in 1881, focuses on machinery and plants, as well as advanced process technology, components and comprehensive services.
