GEA Reports Preliminary Results for the First Quarter of 2017
On the occasion of its Annual General Meeting, GEA released selected preliminary key figures for the first quarter of 2017.
At approximately EUR 1,135 million, preliminary order intake was slightly down on the same period last year (EUR 1,144 million). GEA s preliminary first-quarter revenue increased to approximately EUR 1,000 million (previous year EUR 941 million). Totaling around EUR 95 million, operating EBITDA is also expected to be slightly up compared to the same period last year (EUR 94 million).
"As to year-on-year comparisons of the first quarter s order intake, one needs to take into account that this year saw over EUR 80 million less in large orders than prior year. Nonetheless, we were able to nearly match last year s order volume thanks to the solid growth in our base business with small and medium-sized orders", explained Jürg Oleas, GEA s CEO. "The macroeconomic uncertainty is likely to intensify over the course of the year. How our individual markets will develop respectively has become even more difficult to forecast from current perspective. It will depend in particular on the development of the second quarter in which area of our guided target range we will come out by the end of the year."
The Company s first quarter results for 2017 with detailed figures and explanations will be released on GEA s website.
Source: GEA Group Aktiengesellschaft