GEA Announces Figures for the Third Quarter
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."
Source: GEA Group Aktiengesellschaft