Weaker than previously expected economic growth, in particular in China, has forced management to adopt a more cautious view. It no longer expects revenue to increase on an organic basis but only because of first-time consolidations. Nevertheless, it continues projecting an EBITDA profit of between €590m and €640m.
However, management’s profit forecasts are ‘adjusted’ numbers and we do not see this as being reached. In fact, our TP might be on the high side as we are projecting a dividend of ....
30 Sep 2015
Management adjusts guidance for 2015
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Management adjusts guidance for 2015
GEA Group Aktiengesellschaft (G1A:WBO) | 0 0 0.5% | Mkt Cap: 7,394m
- Published:
30 Sep 2015 -
Author:
Hans-Peter Wodniok -
Pages:
2
Weaker than previously expected economic growth, in particular in China, has forced management to adopt a more cautious view. It no longer expects revenue to increase on an organic basis but only because of first-time consolidations. Nevertheless, it continues projecting an EBITDA profit of between €590m and €640m.
However, management’s profit forecasts are ‘adjusted’ numbers and we do not see this as being reached. In fact, our TP might be on the high side as we are projecting a dividend of ....