GEA Group Confirms 2019 Outlook Despite Weaker Q2 [Reuters]
GEA GROUP AG SP ADR (GEAGY)
NASDAQ:AMEX Investor Relations:
gea.com/en/investor-relations/index.jsp
Company Research
Source: Reuters
GEA Group AG (GEAGY.PK) Key Developments | Reuters.com Aug 6 (Reuters) - GEA Group AG ::DGAP-NEWS: GEA GROUP AKTIENGESELLSCHAFT: GEA CLOSES SECOND QUARTER OF 2019 WITH STRONG REVENUE AND STANDS BY OUTLOOK FOR YEAR.OUTLOOK FOR 2019 CONFIRMED DESPITE SPECIAL FACTORS IN Q2.STRONG REVENUE (EUR 1.25 BILLION) IN Q2; BOTH BUSINESS AREAS AND GEA AS A WHOLE EXCEED PRIOR-YEAR FIGURE; SERVICE BUSINESS GROWS BY MORE THAN 7 PERCENT.EBITDA BEFORE RESTRUCTURING MEASURES (EUR 111 MILLION) IN Q2 IMPAIRED BY SPECIAL EFFECTS (EUR 30 MILLION COMPARED TO PREVIOUS YEAR).ORDER INTAKE (EUR 1.15 BILLION) DECLINES AFTER RECORD PRIOR-YEAR QUARTER; BASIC BUSINESS STABLE, BUT FEWER MAJOR ORDERS DUE TO CUSTOMER DELAYS.MEASURES TO INCREASE EARNINGS IN BUSINESS AREA SOLUTIONS ON SCHEDULE.EBITDA BEFORE RESTRUCTURING MEASURES (EUR 111 MILLION) WAS DOWN ON PREVIOUS YEAR (EUR 142 MILLION; INCLUDING A PROFORMA IFRS 16 EFFECT OF EUR 16 MILLION).CORRESPONDING MARGIN OF 8.9 PERCENT WAS AROUND 270 BASIS POINTS BELOW VALUE OF
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