impeller.net The Online Pump Magazine

23.08.2018

GEA Publishes Figures for the Second Quarter

In the second quarter of 2018, GEA topped the previous year´s figure for order intake, setting a new quarterly record.

Second-quarter revenue was above the level of the previous year. Operating EBITDA in the second quarter was slightly above the figure for the same quarter of the previous year. The corresponding margin remained on a par with the previous year.

"Demand for our products and applications hit record levels in the second quarter of the year thanks to our innovative capabilities and leading technologies. Whereas negative currency effects produced a headwind, our latest acquisitions had a positive impact. Revenue was in line with expectations. Due to an increase in revenue and ongoing cost discipline, among other factors, operating EBITDA was slightly above the previous year s level. However, GEA was not able to make up the shortfall from the first quarter. The negative effects of a strong euro, increases in material costs and the resulting pressure on margins means that hitting our margin targets will remain a big challenge," said Jürg Oleas, CEO of GEA. "Judging by the key indicators for the first half of the year, we assume that revenue growth for the whole of 2018 will likely land at the upper end of the published corridor. However, in terms of the figures for the operating EBITDA margin and, thus, the operating cash flow driver margin, we now expect to close the financial year at the lower end of the forecasted corridor."

Source: GEA

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