Media | 6 May 2011 07:30
GEA Group Aktiengesellschaft / Key word(s): Enterprise/
06.05.2011 / 07:30
* Earnings per share up by 46.7% from EUR 0.15 to EUR 0.22
* Order intake increases by 23.0% year-on-year to EUR 1,242 million
* Revenue up 10.6% compared with Q1/2010 to EUR 1,038 million
* EBIT margin grows by 76 basis points to 6.4%
Düsseldorf, May 6, 2011 - In the first quarter of 2011, GEA Group continued
its strong order intake from the previous quarter, recording a 23.0 percent
increase to EUR 1,242 million. This represents the fourth significant
quarterly year-on-year rise in a row since the beginning of the financial
and economic crisis. As a result, Group revenue climbed by 10.6 percent
compared with the previous year to EUR 1,038.0 million.
'The encouraging performance of our order intake is attributable to
continued strong global demand for food process technology, in particular
from Asia. This positive trend continued in April,' said Jürg Oleas,
Chairman of the Executive Board of GEA Group Aktiengesellschaft.
Earnings before interest and tax (EBIT) increased by 25.7 percent in the
reporting period to EUR 66.1 million (previous year: EUR 52.6 million). As
a result, the EBIT margin improved by 76 basis points to 6.4 percent of
revenue. Once again, discontinued operations did not affect GEA Group's
profit for the period. The Company's improved results lifted earnings per
share by 46.7 percent to EUR 0.22.
Following the approval by the responsible antitrust authorities, the
purchase prices for the acquisitions of Convenience Food Systems and Bock
Kältemaschinen were paid as of March 31, 2011.
GEA Group financial data (in EUR million)
While the balance sheets and other data as of the reporting date (such as
order backlog) from the recent acquisitions have been consolidated as of
March 31, 2011 in accordance with IFRSs, period performance data (P&L) will
only be consolidated from April 1, 2011 and hence are not part of the Q1
figures presented.
Q1 2011 Q1 2010
Order Intake 1,242.1 1,010.2
Revenue 1,038.0 938.2
Order backlog 2,666.6 2,301.1
EBITDA 1) 91.0 78.1
as % of revenue 8.8 8.3
EBIT before purchase price allocation 1)2) 68.3 54.7
as % of revenue 6.6 5.8
EBIT 1) 66.1 52.6
as % of revenue 6.4 5.6
EBT 55.9 37.2
Profit after tax from continuing operations 39.8 27.2
Profit or loss after tax from discontinued operat. - -
GEA Group profit for the period 39.8 27.2
Earnings per share from continuing operations 3) 0.22 0.15
Earnings per share from discontinued operations 3) - -
Earnings per share 3) 0.22 0.15
Working capital (reporting date) 4) 647.3 566.9
Working capital (average) 5) 561.3 644.4
as % of revenue 6) 12.4 15.0
Net debt 7)8) 550.0 75.7
ROCE in % 5)9)10) 12.4 11.5
ROCE in % (goodwill adjusted) 5)11) 20.9 18.6
Capital expenditure 15.4 13.4
Employees as of the reporting date 12) 22,945 20,441
1) in 2010 before restructuring expenses of 1.3 EUR million
2) Earnings before interest, taxes as well as amortization and
depreciation specifically of purchase price allocations from
acquisitions, including those prior to Q1 2011
3) in EUR
4) WC=inventories+trade receivables-trade payables-advance
payments received
5) Average of the past 12 months
6) WC (average) / revenue of the past 12 months
7) Including discontinued operations
8) Net liquidity(+) or debt(-) = cash + securities - loan liabilities
9) ROCE=EBIT before restructuring expenses/capital employed (average)
10) Capital employed including goodwill from the acquisition of the
former GEA AG by the former Metallgesellschaft AG in 1999
11) Capital employed excluding goodwill from the acquisition of the
former GEA AG by the former Metallgesellschaft AG in 1999
12) Full-time equivalents (FTE) excl. apprentices/trainees and
inactive employment contracts
GEA Group Aktiengesellschaft is one of the largest suppliers of process
technology and components for the food and energy industries. As an
international technology group, the Company focuses on sophisticated
production processes. In 2010, GEA generated consolidated revenues in
excess of EUR 4.4 billion, 70 percent of which came from the food and
energy sectors, which are long-term growth industries. The group employed
about 23,000 people worldwide as of March 31, 2010. GEA Group is a market
and technology leader in its business areas. It is listed in Germany's MDAX
stock index (G1A, WKN 660 200).
To unsubscribe from GEA Group Aktiengesellschaft's news distribution list,
please send an e-mail to pr@geagroup.com or call us on +49
(0)211-9136-1492.
Contact:
GEA Group Aktiengesellschaft
Phone +49 (0)211 9136 1492
Fax +49 (0)211 9136 31087
www.geagroup.com
End of Media Release
---------------------------------------------------------------------
06.05.2011 Dissemination of a Press Release, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: GEA Group Aktiengesellschaft
Peter-Müller-Straße 12
40468 Düsseldorf
Deutschland
Phone: +49 (0)211 9136-0
Fax: +49 (0)211 9136-31087
E-mail: ir@geagroup.com
Internet: www.geagroup.com
ISIN: DE0006602006
WKN: 660200
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, München; Freiverkehr in Hannover,
Stuttgart
End of News DGAP-Media
---------------------------------------------------------------------
123288 06.05.2011