GEA Group Aktiengesellschaft: GEA completes share buyback program
February 08, 2018 at 08:50 am EST
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DGAP-News: GEA Group Aktiengesellschaft / Key word(s): Share Buyback
GEA Group Aktiengesellschaft: GEA completes share buyback program
08.02.2018 / 14:46
The issuer is solely responsible for the content of this announcement.
GEA completes share buyback program
Düsseldorf, February 8, 2018 - GEA Group Aktiengesellschaft completed its share buyback program in the amount of up to EUR 450 million within the envisaged timeframe. Between March 8, 2017, and February 6, 2018, a total of 12,003,304 shares were repurchased on the stock market. These repurchased shares account for 6.24 percent of the company's registered share capital. The shares were acquired at an average purchase price of EUR 37.49 EUR. Irrespective of a later date of cancellation, these repurchased shares do no longer carry the right to dividends.
"During the course of the previous years, we have utilized our net cash for the purpose of debt repayment and smaller and medium-sized acquisitions, thereby reinforcing our competitive position. In view of the strong cash position we held in early 2017, we further decided to invest up to EUR 450 million of our excess funds into our own shares over a period of one year. Now, we have managed to complete this program", said Helmut Schmale, Chief Financial Officer of GEA Group Aktiengesellschaft.
Corporate Media and Press:
GEA Group Aktiengesellschaft
Marc Pönitz
Peter-Müller-Str. 12, 40468 Düsseldorf, Germany
Phone +49 (0)211 9136-1500
marc.poenitz@gea.com
About GEA
GEA is one of the largest suppliers for the food processing industry and a wide range of other industries that generated consolidated revenues of approximately EUR 4.6 billion in 2017. The international technology group focuses on process technology, components and sustainable energy solutions for sophisticated production processes in various end-user markets. The group generates around 70 percent of its revenue in the food and beverages sector that enjoys long-term sustainable growth. As of December 31, 2017, the company employed about 18,000 people worldwide. GEA is a market and technology leader in its business areas. The company is listed on the German MDAX (G1A, WKN 660 200). In addition, GEA's stock is included in the MSCI Global Sustainability Indexes. Further information is available on the Internet at gea.com.
08.02.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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Language:
English
Company:
GEA Group Aktiengesellschaft
Peter-Müller-Straße 12
40468 Düsseldorf
Germany
Phone:
+49 (0)211 9136-0
Fax:
+49 (0)211 9136-31087
E-mail:
ir@gea.com
Internet:
www.gea.com
ISIN:
DE0006602006
WKN:
660200
Indices:
MDAX
Listed:
Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Munich; Regulated Unofficial Market in Hanover, Stuttgart, Tradegate Exchange
GEA Group AG is a German-based holding company of the GEA Group which operates as a supplier of system and components to the food, beverage and pharmaceutical industries worldwide. The activity of the Company is divided into five operating segment: Separation & Flow, Liquid & Powder, Food & Healthcare, Farm Technologies and Refrigeration Systems. Separation & Flow encompasses GEAâs process engineering components and machines including separators, decanters, homogenizers, valves and pumps. Liquid & Powder provides process solutions for the dairy, beverage, food, chemical and other industries. Moreover, Food & Healthcare offers solutions for food processing, covering the preparation, marinating and further processing. Farm Technologies offers, amongst others, automatic milking and feeding systems in addition to conventional milking solutions and digital herd management tools. Lastly, Refrigeration Technologies offers industrial refrigeration, heating and sustainable energy solutions.
GEA GROUP AG 
