GEA Announces Figures for the First Quarter
Thanks to robust growth in small and mid-sized orders, GEA s order intake in the first quarter of 2017 almost matched the level of the previous year.
Despite reticence on the part of customers to place major orders, the company secured order intake of EUR 1,136 million in the period under review. In terms of revenue, both Business Areas made significant gains, with overall group revenue increasing by 6.7 percent to EUR 1,004 million. The food and pharma applications and the regions of Western Europe, Middle East & Africa and Latin America were significant sources of momentum. Operating EBITDA rose to EUR 96 million, an increase of 2.7 percent compared with the same period in the previous year.
"The macroeconomic uncertainties are expected to intensify, so we ll have to see how GEA fares in the second quarter of 2017 before venturing a prediction as to where in our performance corridor we will close the year," said Jürg Oleas, CEO of GEA, in his assessment of the situation.
Source: GEA Group Aktiengesellschaft