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MarketScreener Homepage  >  Equities  >  Xetra  >  GEA Group    G1A   DE0006602006

GEA GROUP

(G1A)
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GEA : Transcritical CO2 refrigeration technology from GEA makes waves in global marine refrigeration business

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08/22/2019 | 05:53am EDT

In May 2019, GEA signed a contract for transcritical CO2 refrigeration technology with Shanghai Waigaoqiao Shipbuilding (SWS), China. SWS is a subsidiary of China State Shipbuilding Corp (CSSC). SWS is building the first two cruise ships ever built in China. They will work for the new Chinese brand CSSC Carnival Cruise Shipping Ltd., which is part of the world's largest commercial cruise company. The agreement between GEA and SWS provides for the supply of energy-efficient refrigeration and freezing for all food and beverage refrigeration equipment on two cruise ships. The first 133,500 GT ship will be delivered in 2023.

'The cruise market is booming worldwide. In China alone, growth to 4.5 million Chinese cruise passengers is forecast by 2020. This will be the first newly built cruise ship to be equipped with this type of sustainable technology. This is a really important reference project and we believe it will lead to a major spin-off,' says Marc Prinsen, GEA Head of Application Center Utilities Marine.

Disclaimer

GEA Group AG published this content on 22 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 August 2019 09:52:09 UTC

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Sales 2019 4 795 M
EBIT 2019 303 M
Net income 2019 165 M
Debt 2019 278 M
Yield 2019 3,02%
P/E ratio 2019 26,8x
P/E ratio 2020 22,8x
EV / Sales2019 1,02x
EV / Sales2020 0,93x
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