At the occasion of its annual general meeting, GEA Group Aktiengesellschaft today published a first preliminary trading update.
Group revenues of the German engineering group rose by about 6 percent organically in the first quarter 2014. All business segments contributed to the increase. Despite currency translation effects of around 3 percent, GEA thus reached a revenue level of EUR 951 million (prior year: EUR 924 million).
Group order intake declined organically by around 2 percent in the first quarter. This was exclusively caused by a decline in large orders for the Segment GEA Process Engineering, which however saw its base business increase slightly in organic terms. All other segments experienced clear growth in orders. Despite adverse currency translation effects of around 4 percent and the decline in more volatile large orders, GEA for the first quarter could report a group order intake of EUR 1,024 million (prior year: EUR 1,095 million).
At the condition of no unexpected economic downturns, assuming constant exchange rates versus 2013 and disregarding potential acquisitions and one-off expenses GEA is still aiming in 2014 for a moderate revenue growth and an operating EBITDA of between EUR 550 million and EUR 590 million after EUR 530 million in fiscal 2013. Under the same conditions the cash flow driver margin is expected between 9 and 9.5 percent.
The company will publish detailed figures relating to the course of the first quarter on May 6, 2014.