GEA reports strong operating cash flow in first quarter
In the first quarter of 2013, EBITDA rose by 51.6 percent to EUR 98.1 million (previous year: EUR 64.7 million). As a result, the EBITDA margin increased by 284 basis points to 8.0 percent of revenue. At EUR 66.2 million, EBIT in the first quarter of 2013 also significantly exceeded the prior-year figure (EUR 32.6 million). The EBIT margin rose to 5.4 percent of revenue. Consolidated profit in the first quarter amounted to EUR 40.8 million (previous year: EUR 12.1 million). This corresponds to earnings per share of EUR 0.21, after EUR 0.07 in the comparable prior-year period.
“Thanks to our systematic cash flow management, we have reduced our net debt as against the prior-year reporting date by EUR 141.5 million to EUR 494 million,” said Jürg Oleas, CEO of GEA Group Aktiengesellschaft.
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