GEA released a mixed bag of results, with sales declining further (9M 20: -3.8% yoy vs H1 20: -2% yoy), EBITDA improving (+17.8% yoy), and net income slightly growing (+2.6% yoy). EBITDA benefited from higher-than-expected overheads and raw material costs, though net income was negatively impacted by impairment losses from the sale of GEA Bock. Consequently, GEA is more confident about its FY20 EBITDA target, raising it from at least €455m to at least €500m.
06 Nov 2020
Will Q4 impact turnover further?
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Will Q4 impact turnover further?
GEA Group Aktiengesellschaft (G1A:WBO), 0 | GEA Group Aktiengesellschaft (0MPJ:LON), 0 | GEA Group Aktiengesellschaft (GEAGF:OTC), 0 | GEA Group Aktiengesellschaft (G1A:ETR), 0
- Published:
06 Nov 2020 -
Author:
David Chaucayanqui -
Pages:
3
GEA released a mixed bag of results, with sales declining further (9M 20: -3.8% yoy vs H1 20: -2% yoy), EBITDA improving (+17.8% yoy), and net income slightly growing (+2.6% yoy). EBITDA benefited from higher-than-expected overheads and raw material costs, though net income was negatively impacted by impairment losses from the sale of GEA Bock. Consequently, GEA is more confident about its FY20 EBITDA target, raising it from at least €455m to at least €500m.