In the first quarter of 2013, GEA received orders worth EUR 1,447.1 million (previous year: EUR 1,544.9 million) and generated revenue of EUR 1,232.7 million (previous year: EUR 1,263.7 million). Order intake in the prior-year period was significantly influenced by an exceptional large order worth more than EUR 70 million in the food and beverage end market. Adjusted for this large order, organic order intake declined by around 1.0 percent year-on-year only. In addition, demand is on a level with the average for the last three quarters of 2012 (EUR 1,452.1 million). The unadjusted order intake was down 6.3 percent against the very high prior-year level. Revenue decreased slightly by 2.4 percent. The main reasons for this are the reduced willingness of the power plant industry to invest, which has been reflected in order intake for several quarters now, and the resulting absence of large orders.
In the first quarter of 2013, EBITDA rose by 51.6 percent to EUR 98.1 million (previous year: EUR 64.7 million). As a result, the EBITDA margin increased by 284 basis points to 8.0 percent of revenue. At EUR 66.2 million, EBIT in the first quarter of 2013 also significantly exceeded the prior-year figure (EUR 32.6 million). The EBIT margin rose to 5.4 percent of revenue. Consolidated profit in the first quarter amounted to EUR 40.8 million (previous year: EUR 12.1 million). This corresponds to earnings per share of EUR 0.21, after EUR 0.07 in the comparable prior-year period.
“Thanks to our systematic cash flow management, we have reduced our net debt as against the prior-year reporting date by EUR 141.5 million to EUR 494 million,” said Jürg Oleas, CEO of GEA Group Aktiengesellschaft.
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