Media | 30 September 2015 07:30

GEA Group Aktiengesellschaft: GEA sees economic slowdown and specifies 2015 guidance

(DGAP-Media / 2015-09-30 / 07:30)

GEA sees economic slowdown and specifies 2015 guidance

Düsseldorf, September 30, 2015 – In light of indicators of a further global economic downturn – particularly in emerging economies including China – as well as the announcement of the International Monetary Fund (IMF) to revise downwards its estimates for global economic growth, also GEA specifies its guidance for fiscal year 2015. Although the company expects revenue growth to remain moderate in light of this development, this is no longer the case on an organic basis, i.e., adjusted for acquisitions and exchange rate effects. However, due to cost saving measures already implemented and the expected savings from the “Fit for 2020” initiative GEA is standing by the most recently announced figures for its earnings forecast. Hence, despite the challenging environment the company is still aiming for an operating EBITDA of between EUR 590 million and EUR 640 million in fiscal year 2015.

Jürg Oleas, CEO of GEA, commented on the current situation: “Our strategic decision to make the group structure more cost-efficient with flatter hierarchies has proven helpful, given the economic slowdown. In light of the measures introduced, we are standing by our earnings forecast and the dividend announced to date of at least EUR 0.70 per share.”

About GEA
GEA is one of the largest suppliers for the food processing industry and a wide range of process industries that generated consolidated revenues of approximately EUR 4.5 billion in 2014. As an international technology group, the Company focuses on process technology and components for sophisticated production processes in various end-user markets. The Group generates more than 70 percent of its revenue in the food sector that enjoys long-term sustainable growth. As of June 30, 2015, the Company employed around 18,000 people worldwide. GEA is a market and technology leader in its business areas. The Company is listed in Germany’s MDAX (G1A, WKN 660 200). In addition, GEA’s share is a constituent of the MSCI Global Sustainability Indexes. Further information is available on the Internet at www.gea.com .

If you do not want to receive any further information from GEA, please send an email to pr@gea.com or call us.

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

End of Media Release

Issuer: GEA Group Aktiengesellschaft
Key word(s): Enterprise

2015-09-30 Dissemination of a Press Release, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP 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
	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:	Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Munich; Regulated Unofficial Market in Hanover, Stuttgart

End of News DGAP Media

398597  2015-09-30