Contrary to internal expectations, GEA Group Aktiengesellschaft's working capital continued to rise in October as a result of ongoing positive sales growth and a high order backlog. Against this backdrop, the Executive Board has decided to adjust the outlook for the 2018 financial year with regard to the operating cash flow driver margin to a corridor between 6.5 and 7.0 percent (previously: approx. 8.5 percent) on the basis of constant exchange rates compared with the previous year.
Following the Group’s business development in October, the Executive Board of GEA Group Aktiengesellschaft has decided to adjust its outlook for the operating cash flow driver margin* for the 2018 financial year (based on constant exchange rates) to a corridor of 6.5 to 7.0 percent (previously: approx. 8.5 percent).
Colin Hall (47) was appointed to the Supervisory Board of GEA Group Aktiengesellschaft by order of the Düsseldorf local court. Colin Hall, an American national, is Head of Investments at Groupe Bruxelles Lambert (GBL), simultaneously holding the position of CEO at Sienna Capital, a 100 percent subsidiary of GBL. He succeeds Prof. Dr. Ing. Werner J. Bauer (67), who resigned from the Supervisory Board for personal reasons as of November 12, 2018. It is planned that Colin Hall will stand as a candidate for election by the shareholders in April 2019.