GEA’s order intake in the third quarter of 2017 was EUR 1,057 million and 2.5 percent below the previous year’s level. In terms of revenue, the Business Area (BA) Solutions in particular made gains, with overall group revenue increasing by 2.7 percent to EUR 1,131 million.

The dairy processing and dairy farming applications were significant sources of momentum here. The three regions Western Europe, Middle East & Africa, and Latin America and DACH & Eastern Europe all posted significant growth in revenue. Operating EBITDA rose to EUR 121 million, an increase of 7.0 percent compared with the same period in the previous year. Adjusted for the EUR 14.5 million in additional costs for filling machines included in this total, operating EBITDA in the quarter under review amounted to EUR 135 million.

“Thanks to a positive earnings performance by the Business Area Solutions in particular, operating EBITDA managed to gain ground again in the quarter under review, this despite the extra outlay on filling machines. As far as the operating result for 2017 is concerned, we are looking at closing the year in the lower regions of our target corridor,” said Jürg Oleas, CEO of GEA, in his assessment of the result for the quarter. “Nevertheless, we are convinced that the measures and structural enhancements already introduced, together with a strategy of focusing on the food and beverages industry – which is characterized by long-term growth – will have a positive effect going forward.”

IFRS key figures of GEA

(EUR million) Q3 2017 Q3 2016 Change in % Q1-Q3 2017 Q1-Q3 2016 Change in %
Results of operations
Order intake 1,056.7 1,083.9 –2.5 3,433.8 3,450.3 –0.5
Revenue 1,130.7 1,100.8 2.7 3,273.1 3,198.9 2.3
Operating EBITDA¹ 120.5 112.7 7.0 339.4 351.8 –3.5
as % of revenue 10.7 10.2 10.4 11.0
Operating EBIT¹ 99.0 91.7 7.9 277.2 291.2 –4.8
as % of revenue 8.8 8.3 8.5 9.1
EBIT 77.6 70.5 10.2 219.9 237.7 –7.5
Net assets
Working capital intensity in % (average of the last 12 months) 16.4 13.5 16.4 13.5
Net liquidity (+)/Net debt (–) 227.4 623.3 –63.5 227.4 623.3 –63.5
Financial position
Operating cash flow driver margin² 7.2 10.2 7.2 10.2
ROCE in % (goodwill adjusted)³ 15.4 18.7 15.4 18.7
Full-time equivalents (reporting date) 17,163 16,995 1.0 17,163 16,995 1.0
GEA Shares
Earnings per share (EUR) 0.24 0.21 15.1 0.82 0.81 0.7

¹) Before effects of purchase price allocations and adjustments (see page 7) 

²) 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) 

³) Capital employed excluding goodwill from the acquisition of the former GEA AG by former Metallgesellschaft AG in 1999 (average of the last 12 months)

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