GEA increases operating margin to 8.6 percent in Q2 and confirms outlook

31-Jul-2012 - Germany

GEA’s order intake grew by 8.9 percent to EUR 2,946 million in the first six months of 2012. However, it was noticeable in the second quarter that fewer major orders were recorded compared with the first quarter. The GEA Food Solutions segment that was acquired last year increased its organic order intake in the second quarter. Revenue was up 3.1 percent to EUR 1,391 million in the second quarter and 11.2 percent to EUR 2,655 million in the first half of the year.

Adjusted for purchase price allocation effects, the operating EBIT margin increased from 8.1 percent to 8.6 percent year-on-year in the second quarter. Consolidated profit climbed 41.2 percent and amounted to EUR 72.8 million in the second quarter. This corresponds to earnings per share of EUR 0.40 in the second quarter of 2012, after EUR 0.28 in the comparable prior-year period.

The settlement most recently described in the 2011 Annual Report took effect on June 11, 2012, when the contingent capital was entered in the commercial register, terminating the award proceedings that have been ongoing since 1999.

“Many business and economic indicators worsened in the second quarter of 2012 compared with the beginning of the year. However, assuming that economic conditions do not deteriorate further, we would like to use this opportunity to confirm our previous business outlook for 2012,” said Jürg Oleas, CEO of GEA Group Aktiengesellschaft.

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