GEA Group AG

GEA Group focuses on the development and production of process technology and components for production methods. Co. segments include: GEA Food Solutions, which manufactures machinery for preparing, marinating, processing, cutting, and packaging meat, poultry, and other foods; GEA Farm Technologies, which manufacturers product solutions for milk production and livestock farming; GEA Mechanical Equipment, which concentrates in separators, decanters, valves, pumps, and homogenizers; GEA Process Engineering, which designs and develops of process solutions for the pharmaceutical, and chemical industries; and GEA Refrigeration Technologies, which concentrates in refrigeration technology.
  • Ticker660200
  • ISINDE0006602006
  • SectorIndustrial Engineering
  • CountryGermany

Analysts

Ibrahim Firdaus

GEA Group

Denise Molina

Morningstar | GEA Trading at Lowest P/B in Eight Years; Management Issues Cautious Statement; Not Much Was New

GEA’s market cap lost nearly EUR 800 million after announcing EUR 70 million in expected additional expenses in 2019 versus 2018, as well as increased working capital needs in 2018 from good order growth in the fourth quarter so far. The shares are trading at 1.9 times book value, around the last low in 2010. Short sellers have been active in the name for a couple of years with some continuing to build positions in the last couple of months (based on the public filings.) Looking into the trading update, we found the share price reaction out of proportion with the information provided. We think...

Denise Molina

GEA Trading at Lowest P/B in Eight Years; Management Issues Cautious Statement; Not Much Was New

GEA’s market cap lost nearly EUR 800 million after announcing EUR 70 million in expected additional expenses in 2019 versus 2018, as well as increased working capital needs in 2018 from good order growth in the fourth quarter so far. The shares are trading at 1.9 times book value, around the last low in 2010. Short sellers have been active in the name for a couple of years with some continuing to build positions in the last couple of months (based on the public filings.) Looking into the trading...

GEA Group Aktiengesellschaft - December 2017 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

GEA Group Aktiengesellschaft: GEA's second profit warning in less than a year is credit negative but does not affect its Baa2 rating

CORPORATES ISSUER COMMENT 19 July 2017 RATINGS GEA Group Aktiengesellschaft Long term issuer rating Baa2 Outlook stable Contacts Oliver Giani 49-69-70730-722 VP-Senior Analyst oliver.giani@moodys.com Anke Rindermann 49-69-70730-788 Associate Managing Director anke.rindermann@moodys.com Perrine Bajolle 49-69-70730-902 Associate Analyst perrine.bajolle@moodys.com GEA Group Aktiengesellschaft GEA

GEA Group Aktiengesellschaft: Annual update of credit opinion

CORPORATES CREDIT OPINION 7 July 2017 Update RATINGS GEA Group Aktiengesellschaft Domicile Dusseldorf, Germany Long Term Rating Baa2 Type LT Issuer Rating - Dom Curr Outlook Stable Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Oliver Giani 49-69-70730-722 VP-Senior Analyst oliver

Denise Molina

Morningstar | GEA Trading at Lowest P/B in Eight Years; Management Issues Cautious Statement; Not Much Was New

GEA’s market cap lost nearly EUR 800 million after announcing EUR 70 million in expected additional expenses in 2019 versus 2018, as well as increased working capital needs in 2018 from good order growth in the fourth quarter so far. The shares are trading at 1.9 times book value, around the last low in 2010. Short sellers have been active in the name for a couple of years with some continuing to build positions in the last couple of months (based on the public filings.) Looking into the trading update, we found the share price reaction out of proportion with the information provided. We think...

Denise Molina

GEA Trading at Lowest P/B in Eight Years; Management Issues Cautious Statement; Not Much Was New

GEA’s market cap lost nearly EUR 800 million after announcing EUR 70 million in expected additional expenses in 2019 versus 2018, as well as increased working capital needs in 2018 from good order growth in the fourth quarter so far. The shares are trading at 1.9 times book value, around the last low in 2010. Short sellers have been active in the name for a couple of years with some continuing to build positions in the last couple of months (based on the public filings.) Looking into the trading...

Stefan Augustin

GEA GROUP - Cash flow warning and cooling ambitions for FY 19

Denise Molina

Morningstar | Activist Investor Gains Seat on GEA's Board; Shares Attractive

We welcome the news that GBL, an activist investor with a 7% holding in wide-moat GEA Group, has gained a seat on the company's board as it should support restructuring efforts from the new management team. GBL representative Colin Hall is stepping in for Werner Bauer, who resigned from the board before the end of his term. Hall will stand for election to a permanent seat next year in April. Based on our research, we believe the other activist shareholder, Elliott Management, is familiar with GEA's new CEO, Stefan Klebert, through a previous investment, and we believe greater activist involvem...

Denise Molina

Activist Investor Gains Seat on GEA's Board; Shares Attractive

We welcome the news that GBL, an activist investor with a 7% holding in wide-moat GEA Group, has gained a seat on the company's board as it should support restructuring efforts from the new management team. GBL representative Colin Hall is stepping in for Werner Bauer, who resigned from the board before the end of his term. Hall will stand for election to a permanent seat next year in April. Based on our research, we believe the other activist shareholder, Elliott Management, is familiar with GE...

A director bought 1,300 shares at 38.239EUR and

A director at Gea Group Ag bought 1,300 shares at 38.239EUR and the significance rating of the trade was 55/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of ...

Ibrahim Firdaus

GEA Group

Ibrahim Firdaus

GEA Group

Ibrahim Firdaus

GEA Group

Ibrahim Firdaus

GEA Group

Ibrahim Firdaus

GEA Group

Expert Corporate Governance Service (ECGS)

Proxy Report - 19/04/2018

Item 3: We recommend to oppose the discharge of the Management Board due to our concerns triggered by the two profit warnings issued by the Company in financial years 2017 and 2016. Item 6: We recommend opposing the share repurchase authorisation requested by the Company as we consider it currently not being in shareholders' interest. General: On 18 March 2018, the Company disclosed that CEO Jürg Oleas had informed the Supervisory Board that he is not seeking to extend his term of office beyond 31 December 2019 and had suggested to leave the Management Board at the AGM 2019 "in order to allo...

Expert Corporate Governance Service (ECGS)

Etude de l'AG du 20/04/2017

Item 5: KPMG, Berlin, is proposed as auditor for the current financial year. KPMG has audited the Company since the financial year 2011. Ratio of non-audit/audit fees was 71.40% during the year under review and 64.70% over a three-year aggregate period which exceeds our guidelines. We therefore recommend opposing the proposal.Item 6: The Company shall be authorised until 19 April 2022 to increase the share capital by up to EUR 77m (~15% of the share capital) by issuing shares against contributions in cash. The total shares issued while disapplying preemptive rights under the proposed authorisa...

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