GEA Increases Operating EBITDA Margin to 12.6 Percent
In the second quarter of 2016, GEA posted organic growth in order intake of 7.3 percent, up to EUR 1,222 million.
While the situation in dairy farming remained challenging, performance in that customer industry was more than compensated by, in some cases, double-digit growth in other industries, for example, in food, where GEA s new group structure is now bearing fruit. After a relatively subdued first quarter of 2016 - and despite a good prior-year quarter in 2015 - revenue in the second quarter was on a par with the previous year.
The figures for operating EBITDA and the corresponding margin represent all-time highs for GEA, both for a second quarter (EUR 145.2 million and 12.6 percent respectively) as well as for the first six months of a year (EUR 239.1 million and 11.4 percent respectively). Adjusted for strategy projects, the cash flow driver margin for the last 12 months amounted to 11.1 percent, compared with 10.5 percent for the prior-year period.
"Robust order intake coupled with very good order-backlog figures are an excellent basis for realising our full-year targets, which we can confirm," said Jürg Oleas, Chairman of the Executive Board of GEA in his appraisal of the present situation.
Source: GEA Group Aktiengesellschaft