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GEA Group Q3 Profit Edges Down; Raises FY Revenue Outlook

GEA Group AG (GEAGF.PK,GEAGY.PK) reported that its third-quarter profit decreased 0.3 percent to 59.8 billion euros from 60.0 billion euros in the prior year. It increased its annual revenue forecast, reflecting the rise in order intake and the positive revenue trend.

Order intake for the third-quarter was 1.25 billion euros, an increase of around 5 percent from the prior year.

Revenue for the quarter grew to 1.23 billion euros from 1.19 billion euros in the prior year.

The company now expects revenue for 2019 as a whole to be on par with previous year's revenue of 4.83 billion euros. It was previously expected that revenue to be slightly below the 2018 level.

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