March 17, 2020 / 6:43 AM / in 15 days

BRIEF-GEA Sees Slight Drop In 2020 Revenue Due To Coronavirus

March 17 (Reuters) - GEA Group AG:

* DGAP-NEWS: GEA GROUP AKTIENGESELLSCHAFT: GEA CHARTS GROWTH IN REVENUE AND ORDER INTAKE IN 2019 WITH IMPORTANT PROGRESS ACHIEVED IN GROUP RESTRUCTURING

* ORDER INTAKE AND REVENUE REACH RECORD LEVEL

* EBITDA BEFORE RESTRUCTURING EXPENSES (EUR 479 MILLION) AT UPPER END OF PROJECTED CORRIDOR DESPITE SPECIAL FACTORS (AROUND EUR 41 MILLION)

* FREE CASH FLOW OF EUR 342 MILLION LEADS TO POSITIVE NET FINANCIAL POSITION (EUR 28 MILLION)

* DIVIDEND OF EUR 0.85 PER SHARE PROPOSED

* ORDER INTAKE ROSE LIGHTLY BY 0.3 PERCENT TO EUR 4,931.1 MILLION

* REVENUE ROSE BY 1.1 PERCENT TO EUR 4,879.7 MILLION

* EBITDA BEFORE RESTRUCTURING EXPENSE DROPPED BY 11.1 PERCENT TO EUR 479.2 MILLION

* EFFICIENCY INCREASES IN NEW, CENTRAL PURCHASING ORGANIZATION ARE EXPECTED TO RESULT IN SAVINGS OF MORE THAN EUR 25 MILLION IN 2020

* GEA IS PURSUING SALE OF INDIVIDUAL PARTS OF COMPANY, PARTICULARLY THOSE TRANSACTIONS THAT WERE INITIATED IN 2019

* OUTLOOK FOR 2020: IMPACT ON EARNINGS DUE TO COVID-19

* AGAINST BACKDROP OF COVID-19, WHOSE IMPACT IS CURRENTLY VERY DIFFICULT TO ESTIMATE, WE EXPECT REVENUE TO DECLINE SLIGHTLY IN 2020

* EBITDA BEFORE RESTRUCTURING EXPENSE IS INTENDED TO REACH EUR 430 TO 480 MILLION IN 2020

* IN SPITE OF MAJOR GLOBAL CHALLENGES WE FACE AT MOMENT AS A RESULT OF CORONAVIRUS, WE ARE CONFIDENT THAT WE CAN ACHIEVE OUR MID-TERM FINANCIAL GOALS FOR 2022 Source text for Eikon: [tinyurl.com/stbb5ph] Further company coverage: (Berlin Speed Desk)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below