GEA posts first quarter order intake of EUR 1.144 million
On the occasion of the Annual General Meeting, GEA Group Aktiengesellschaft announced its preliminary order intake for the first quarter of 2016.
Order intake totaled roughly EUR 1,144 million, slightly up on the previous year at 1.5 percent, with currency translation effects in the amount of EUR 26 million adversely impacting on order intake. The first quarter saw several larger orders, in particular for the application area dairy processing, but also for food.
"Thanks to our strong position in the market, we have managed to win new orders in the dairy processing segment. Nonetheless, in the light of the critical situation of the dairy farmers that continues to persist, we are faced with a difficult market environment in the area of conventional milking technology as well as in the oil and gas industry", commented Jürg Oleas, Chairman of GEA s Executive Board. "Notwithstanding, we confirm our guidance for the fiscal year 2016 that was issued on February 4, 2016."
The report on first quarter results for 2016 will be released on GEA s website on May 9, 2016.
Source: GEA Group Aktiengesellschaft