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GEA Group FY17 Earnings Down, Orders Rise; Lifts Dividend; Sees Growth In FY18

GEA Group AG (GEAGF.PK,GEAGY.PK), a system provider for food processing industry, reported Monday that its fiscal 2017 earnings before interest and tax declined to 380.9 million euros from 387 million euros last year.

Earnings per share dropped 11 percent to 1.31 euros from 1.48 euros last year.

Operating EBITDA amounted to 564 million euros, lower than 566.3 million euros a year ago.

Revenue in 2017 was 4.61 billion euros, a growth of 2.5 percent from 4.49 billion euros in the previous year. The food sector showed particularly positive development with around 12 percent growth.

Order intake amounted to 4.75 billion euros, 1.7 percent higher than than last year.

Based on the company's overall stable and sound business development, the GEA Executive Board and the Supervisory Board will suggest that the Annual General Meeting on April 19, 2018 resolve to distribute an increased dividend of 0.85 euros per share.

Looking ahead, for the 2018 fiscal year, GEA aims to grow revenue by between 5 and 6 percent thanks to the additional contribution from two latest acquisitions. The operating EBITDA margin will probably be between 12.0 and 13.0 percent of revenue in the current business year.

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