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MarketScreener Homepage  >  Equities  >  Xetra  >  GEA Group AG    G1A   DE0006602006

GEA GROUP AG

(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% 40.55 Delayed Quote.-4.25%
DRAFT INC. -4.92% 1488 End-of-day quote.0.00%
EURO / BRITISH POUND (EUR/GBP) 0.14% 0.9138 Delayed Quote.7.73%
GEA GROUP AG -0.39% 30.44 Delayed Quote.3.70%
THE GLOBAL LTD. 0.00% 192 End-of-day quote.-59.24%
THYSSENKRUPP AG -2.69% 5.572 Delayed Quote.-52.43%
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Financials
Sales 2020 4 710 M 5 577 M 5 577 M
Net income 2020 165 M 195 M 195 M
Net Debt 2020 93,4 M 111 M 111 M
P/E ratio 2020 32,6x
Yield 2020 2,72%
Capitalization 5 518 M 6 524 M 6 532 M
EV / Sales 2020 1,19x
EV / Sales 2021 1,13x
Nbr of Employees 18 298
Free-Float 91,5%
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Technical analysis trends GEA GROUP AG
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TrendsNeutralBullishBullish
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 24
Average target price 28,60 €
Last Close Price 30,57 €
Spread / Highest target 24,3%
Spread / Average Target -6,46%
Spread / Lowest Target -57,5%
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Managers
NameTitle
Stefan Klebert Chairman-Executive Board
Helmut Perlet Chairman-Supervisory Board
Johannes Giloth Chief Operating Officer
Marcus A. Ketter Chief Financial Officer
Hartmut Eberlein Member-Supervisory Board
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