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GEA Prelim. 2018 Revenue Up Approx. 7.9% - Quick Facs

GEA (GEAGF.PK,GEAGY.PK) announced, based on preliminary figures, the company expects for the financial year 2018, an order intake of approximately 4.92 billion euros, an organic growth of 2.2 percent, revenue in the amount of about 4.83 billion euros and an operating EBITDA of approximately 515 to 520 million euros. For 2018, on constant exchange rates, the company's revenue rose by approximately 7.9 percent, compared to most recent forecast of approximately plus 7.5 percent.

GEA noted that its preliminary 2018 result benefited from non-recurring other operating income in the order of some 20 to 25 million euros.

For 2019, the Executive Board expects that revenues will be moderately lower than in the previous year and that operating EBITDA will decline to a range from 440 to 480 million euros. Also, GEA considers its mid-term guidance from March 2018 no longer valid. The company said the rising personnel and IT infrastructure costs will have an adverse impact on profitability in the current financial year.

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