Corporate | 6 May 2014 07:30

GEA Group Aktiengesellschaft: GEA starts fiscal year 2014 with record-breaking quarter

GEA Group Aktiengesellschaft / Key word(s): Quarter Results

06.05.2014 / 07:30

GEA starts fiscal year 2014 with record-breaking quarter

– Record Q1 revenue (EUR 951 million)
– Record Q1 operating result (operating EBITDA: EUR 85 million)
– Record Q1 operating margin (operating EBITDA margin: 9.0%)

Düsseldorf, May 6, 2014 – In the first quarter of 2014, revenue generated by GEA’s continuing operations increased by 2.9 percent to EUR 950.7 million (previous year: EUR 924.2 million). Exchange rate developments impacted this figure by -3.1 percent. Organic revenue thus increased significantly by 6.0 percent year-on-year.

At EUR 85.1 million, the group’s operating EBITDA was up EUR 12.7 million, or 17.6 percent, as against the prior-year figure. As a result, the operating EBITDA margin improved by around 110 basis points to 9.0 percent of revenue. Consolidated profit amounted to EUR 47.2 million, a 15.6 percent increase year-on-year. This corresponds to earnings per share of EUR 0.25 (previous year: EUR 0.21).

“The key message is that we have recorded our highest ever first-quarter figure for operating EBITDA, topping our record year in 2008. At 9.0 percent, our operating EBITDA margin is also at a new record level,” said Jürg Oleas, CEO of GEA Group Aktiengesellschaft.

Assuming that there is no unexpected slowdown in global economic growth, GEA is reiterating its previous business outlook for 2014.

GEA Group: Key IFRS figures
(EUR million)  Q1 2014   Q1 2013 1)

Order Intake 1,024.3 1,095.1
Revenue 950.7 924.2
Order backlog 2,086.7 1,982.6
Operating EBITDA 2) 85.1 72.4
as % of revenue 9.0 7.8
EBITDA 83.0 71.1
Operating EBIT 2) 66.8 55.4
as % of revenue 7.0 6.0
EBIT 58.7 48.1
as % of revenue 6.2 5.2
EBT 40.4 34.6
Profit after tax from continuing operations 31.7 27.8
Profit or loss after tax from discontinued operat. 15.5 13.0
Profit for the period 47.2 40.8
Earnings per share pre ppa (EUR) 0.27 0.24
Earnings per share (EUR) 0.25 0.21
Working capital (reporting date) 535.3 514.7
Working capital (average of the past 12m) 512.6 511.5
as % of revenue (average of the past 12m) 11.8 12.2
Net liquidity (+)/Net debt (-) (incl. DOP) -432.4 -494.0
Cash flow driver 3) 404.3 309.7
as % of revenue (average of the past 12m) 9.3 7.4
ROCE in % (EBIT/Capital Employed) 4) 16.0 13.1
ROCE in % (goodwill adjusted) 5) 22.6 18.8
CAPEX on property, plant and equipment 18.9 17.7
Employees (reporting date) 6) 17,998 17,324

1) Amounts adjusted due to classification of an operation as discontinued operation
2) Before effects of purchase price allocations and before one-offs
3) Cash flow driver = EBITDA – Capital expenditure – Change in Working Capital (average of the past 12 months)
4) Capital employed (average of the past 12 months) including goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999
5) Capital employed (average of the past 12 months) excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999
6) Full-time equivalents (FTE) excluding vocational trainees and inactive employment contracts

About GEA Group
GEA Group Aktiengesellschaft is one of the largest suppliers for the food processing industry and a wide range of other process industries. As an international technology group, the Company focuses on process technology and components for sophisticated production processes. In 2013, GEA generated consolidated revenues in excess of EUR 4.3 billion, more than 70 percent of which came from the food sector, which is a long-term growth industry. The group employed about 18,000 people worldwide as of March 31, 2014. 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) and the STOXX ^(R) Europe 600 Index. Further information is available on the Internet at: www.gea.com .

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Contact:
GEA Group Aktiengesellschaft
Phone +49 (0)211 9136 1492
Fax +49 (0)211 9136 31087
www.gea.com

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Language:	English
Company:	GEA Group Aktiengesellschaft
	Peter-Müller-Straße 12
	40468 Düsseldorf
	Germany
Phone:	+49 (0)211 9136-0
Fax:	+49 (0)211 9136-31087
E-mail:	ir@gea.com
Internet:	www.gea.com
ISIN:	DE0006602006
WKN:	660200
Indices:	MDAX
Listed:	Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime Standard), Hamburg, München; Freiverkehr in Hannover, Stuttgart

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266439  06.05.2014