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MarketScreener Homepage  >  Equities  >  Xetra  >  GEA Group    G1A   DE0006602006

GEA GROUP

(G1A)
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Slowdown in machinery exports points to weakening German economy

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08/21/2019 | 09:24am EDT
FILE PHOTO: Loading cranes are seen at a shipping terminal in the harbour at Hamburg

BERLIN (Reuters) - Trade conflicts and a weakening global economy have hit growth in Germany's export-reliant machine-building sector, data showed on Wednesday, adding to signs that Europe's largest economy could slip into a recession.

Exports grew by just 0.9% to 89.2 billion euros (£81.5 billion) in the first half of the year, according to figures released by industry association VDMA, as growth in the first quarter was all but wiped out by a contraction in the second.

"The uncertainty triggered by the trade conflict between the United States and China in particular, as well as the lack of prospects for an agreement on Brexit, are hurting our export-focused sector," said Ralph Wiechers, chief economist at VDMA.

Machine exports grew by 3.8% in the first quarter and fell by 1.8% in the three months that followed.

The German economy contracted by 0.1% in the second quarter, prompting calls for Finance Minister Olaf Scholz to ditch the country's balanced budget rules and draft a stimulus package.

The VDMA data, which the association said is based on figures from the Federal Statistics Office, showed exports to the United States had risen by 7.8% in the first six half, accounting for more than 11% of total output. But demand from China rose by just 0.6%.

(Reporting by Thomas Escritt; Editing by Joseph Nasr and David Holmes)

Stocks mentioned in the article
ChangeLast1st jan.
DMG MORI AKTIENGESELLSCHAFT 0.00% 42.9 Delayed Quote.-0.46%
EURO / BRITISH POUND (EUR/GBP) -0.14% 0.87345 Delayed Quote.-1.50%
GEA GROUP 0.79% 25.64 Delayed Quote.13.07%
THYSSENKRUPP AG -0.36% 12.56 Delayed Quote.-15.85%
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Financials (EUR)
Sales 2019 4 799 M
EBIT 2019 303 M
Net income 2019 167 M
Debt 2019 278 M
Yield 2019 2,97%
P/E ratio 2019 26,8x
P/E ratio 2020 23,0x
EV / Sales2019 1,02x
EV / Sales2020 0,95x
Capitalization 4 628 M
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Last Close Price 25,66  €
Spread / Highest target 48,1%
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Stefan Klebert Chairman-Executive Board
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Marcus A. Ketter Chief Financial Officer
Farouq Ahmad Bastaki Member-Supervisory Board
Hartmut Eberlein Member-Supervisory Board
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