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)