GEA increases operating margin to 8.6 percent in Q2 and confirms outlook
Adjusted for purchase price allocation effects, the operating EBIT margin increased from 8.1 percent to 8.6 percent year-on-year in the second quarter. Consolidated profit climbed 41.2 percent and amounted to EUR 72.8 million in the second quarter. This corresponds to earnings per share of EUR 0.40 in the second quarter of 2012, after EUR 0.28 in the comparable prior-year period.
The settlement most recently described in the 2011 Annual Report took effect on June 11, 2012, when the contingent capital was entered in the commercial register, terminating the award proceedings that have been ongoing since 1999.
“Many business and economic indicators worsened in the second quarter of 2012 compared with the beginning of the year. However, assuming that economic conditions do not deteriorate further, we would like to use this opportunity to confirm our previous business outlook for 2012,” said Jürg Oleas, CEO of GEA Group Aktiengesellschaft.
Other news from the department business & finance
Get the chemical industry in your inbox
From now on, don't miss a thing: Our newsletter for the chemical industry, analytics, lab technology and process engineering brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.