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GEA Group Q3 Order Intake Declines 15.9%

GEA Group (GEAGF.PK,GEAGY.PK) reported a 15.9% decline in its third-quarter order intake, negatively impacted in particular by customers' reluctance to sign large orders.

The company's third-quarter order intake was EUR 1.055 billion, down 15.9%, compared to EUR 1.255 billion reported last year.

Revenue for the quarter fell 7.2% to EUR 1.146 billion from the previous year's revenue of EUR 1.235 billion.

Despite the lower revenue, GEA increased third-quarter EBITDA before restructuring measures by EUR 2.2 million or 1.6% year-on-year to EUR 145 million versus prior year's EUR 143 million.

Looking ahead, the company expects fiscal 2020 revenue to slightly decline from the prior year's revenue of EUR 4.880 billion. Further, the company now projects 2020 EBITDA before restructuring measures to be more than EUR 500 million, versus its previously communicated outlook of at minimum the upper end of the range of EUR 430 million - EUR 480 million.

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