15.07.2017 11:17:21
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GEA Group Expects Lower Q2 Revenues, Operating EBITDA
(RTTNews) - GEA Group AG (GEAGF.PK) announced that, based on preliminary figures, it expects second quarter order intake of approx. EUR 1.241 billion and revenues of approx. EUR 1.141 billion. In the second quarter of 2016, the company reported order intake of EUR 1.222 billion and revenues of EUR 1.157 billion.
The company also forecast second quarter operating EBITDA of approx. EUR 122 million, compared to EUR 145 million. The company noted that the decline at group level was mainly caused in the Business Area Solutions, in particular by volume- and margin-mix effects, as well as a medium single digit million EUR charge for additional costs relating to bottling lines which had previously been addressed during the the third quarter 2016 communication and whose sale has been discontinued in this variant.
As a consequence, GEA adjusted its guidance for the financial year 2017 and currently forecast an operating EBITDA in the range of EUR 600 million to EUR 640 million, instead of previously expected EUR 620 million to EUR 670 million, however before additional costs related to the afore-mentioned bottling lines. It is expected that such additional costs will not exceed a lower double digit million EUR amount.
Meanwhile, the company confirmed that moderate growth of revenues as previously guided.
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