Ad-hoc notification pursuant to sec. 15 WpHG Preliminary Q3-figures, adjustment of Guidance for 2016
Düsseldorf, October 19, 2016 - Based on preliminary figures for September 2016, GEA expects for Q3 2016 sales around EUR 1,100 million (last year EUR 1,107 million, -1.8% organic change - i.e. adjusted for currency and acquisition effects - against Q3 2015), order intake around EUR 1,084 million (last year EUR 1,068 million, 0.3% organic change against Q3 2015) and operating EBITDA* around EUR 113 million (last year EUR 144 million).
Influencing factors for sales
- Business Area Solutions:
Slower execution mainly of dairy processing projects - in large parts customer induced - and decline in cooling solutions for the oil and gas industry leading to an approx. 4.5% organic decline
- Business Area Equipment:
Limited overall growth in light of an organic decline of approx. 8% in the dairy farming business
Influencing factors for order intake
Only slight organic growth due to delays in the placement of larger dairy processing orders which were expected for Q3 2016, as well as a continuing investment-restraint in the dairy farming and oil and gas industries.
Influencing factors EBITDA
- Business Area Solutions:
Cost overruns in a couple of large projects including additional provisions for remaining risks from these; adverse operating leverage effect from approx. 4.5% organic sales decline of the entire business area in Q3 2016 compared to previous year
- Business Area Equipment:
Adverse operating leverage effect from 8% organic sales decline in the dairy farming business during Q3 2016 compared to previous year
The figures for September revealed that adverse impacts for the group had accrued to such an extent that further potentials to fully mitigate these impacts until year's end by countermeasures such as additional saving initiatives seemed exhausted. While all other businesses are on track, they cannot mitigate the above mentioned adverse effects any more.
As a consequence, GEA adjusts its guidance for the financial year 2016 with assumptions unchanged as follows:
- Moderate sales decline against prior year (previously: moderate increase)
- An operating EBITDA* of around EUR 570 million including approx. EUR 10 million from the acquisition Imaforni (previously: guided range between EUR 645 million and EUR 715 million without Imaforni)
- Operating cash flow driver margin** around 10% (previously: 10.0-11.0%)
The mid-term financial targets given at the occasion of the Capital Markets Day at the beginning of October 2016 are confirmed in all aspects (see CMD 2016 presentation p. 98; accessible at www.gea.com).
GEA's Q3 results will be published on 28 October 2016.
* operating EBITDA is defined in GEA's half-yearly financial report 2016, p. 42 ** operating cash flow driver margin is defined in GEA's half-yearly financial report 2016, p. 3, FN 2 GEA's half-yearly financial report 2016 is accessible at www.gea.com.
Contact: GEA Group Aktiengesellschaft Phone +49 (0)211 9136 1492 Fax +49 (0)211 9136 31087 www.gea.com
19.10.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Company: GEA Group Aktiengesellschaft
Phone: +49 (0)211 9136-0
Fax: +49 (0)211 9136-31087
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime
Standard), Hamburg, Munich; Regulated Unofficial Market in
Hanover, Stuttgart, Tradegate Exchange
End of Announcement DGAP News-Service
Dazu newratings.com weiter: Deutsche Börse AG: Additional U S plaintiffs filed a complaint naming
Deutsche Börse AG subsidiary Clearstream
Deutsche Börse AG / Key word(s): Legal Matter
19 10 2016 21:34
Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG
The issuer is solely responsible for the content of this announcement . Deutsche Börse AG: Additional U.S. plaintiffs filed a complaint naming Deutsche Börse AG subsidiary Clearstream (english). weiterlesen ...
voanews.com meldet: An aid group says 5,000 people have fled fighting near Iraq’s northern city of Mosul and arrived at a refugee camp in Syria
Save the Children said Wednesday the refugees have fled to the al-Hol camp in northeastern Syria during the past 10 days . Aid Group Says 5,000 Have Fled Mosul Fighting. The group said about 1,000 more were waiting to cross the border.
Earlier this week, Iraqi and Kurdish forces launched an offensive to retake Mosul from Islamic State militants.
Tarik Kadir is head of Save the Children’s Mosul weiterlesen ...
Dazu berichtet nypost.com: A nationwide movie chain will show Wednesday night’s presidential debate at 206 of its theaters — for free . Your local movie theater may be showing the final debate for free. Regal Entertainment Group, which usually features the likes of “Batman v Superman” and “Alien vs. Predator.” is offering an extremely limited engagement — all 90 minutes of Wednesday’s presidential debate — around the country. A free showing weiterlesen ...
latimes.com schreibt dazu: On a single day earlier this month, Turkish authorities arrested more than 120 police officers in raids across the country and charged them with being members of a terrorist group — all because they were allegedly using an encrypted messaging app . In Turkey, you can be arrested for having this app on your phone. The app, called ByLock, has been linked to the weiterlesen ...
rss.dw.de schreibt dazu: Champions League: Leverkusen, Dortmund look to Europe to restore winning ways weiterlesen ...
Dazu rss.dw.de: Turkey-backed rebels seize Dabiq from 'IS' weiterlesen ...
Meldung von rss.dw.de: Turkish-backed Syrian rebels launch offensive on IS-held Dabiq weiterlesen ...
rss.dw.de: Suicide bomber targets funeral in Shiite-majority Baghdad neighborhood weiterlesen ...
Nachricht von rss.dw.de: Kansas men charged with planning to attack Somali immigrants weiterlesen ...
rss.dw.de schreibt dazu: French policeman attacked by mob in critical condition weiterlesen ...