GEA Announces Full-Year Results and High Level Steps for Restructuring; Shares Undervalued
We are maintaining our wide moat rating for GEA Group. While the shares rallied on the back of high level restructuring measures announced by new management, GEA still trades at a deep discount to our fair value estimate, negative 38% relative to our EUR 38 fair value estimate, and below 2 times book value.Details behind the high level comments won't come until September's capital markets day, but nearly all the initiatives are in line with low hanging fruit that we've highlighted in our notes ...
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.
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