Ad hoc disclosure in accordance with article 17 of MAR - GEA significantly improves preliminary earnings for the second quarter and raises part of its full-year 2020 guidance
Within the framework of its annual planning process, GEA Group Aktiengesellschaft has recognized a non-cash impairment in the amount of approximately EUR 248 million in the fourth quarter of 2019.
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).
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).
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