Management had given a profit warning on 20 October. At that time, we had believed that the company’s numbers would be about in line with our cautious view. This assumption was too optimistic. Whereas 9M revenue of €3.2bn (-2.0%) was just above our projected €3.17bn, pre-tax (€200m) and net earnings (€157m) were clearly below our €223m and €177m.
28 Oct 2016
Final 9M earnings clearly below our already cautious view
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Final 9M earnings clearly below our already cautious view
GEA Group Aktiengesellschaft (G1A:WBO) | 0 0 0.5% | Mkt Cap: 7,394m
- Published:
28 Oct 2016 -
Author:
Hans-Peter Wodniok -
Pages:
2
Management had given a profit warning on 20 October. At that time, we had believed that the company’s numbers would be about in line with our cautious view. This assumption was too optimistic. Whereas 9M revenue of €3.2bn (-2.0%) was just above our projected €3.17bn, pre-tax (€200m) and net earnings (€157m) were clearly below our €223m and €177m.