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Citibank Hong Kong Proactively Underpins the Development of Digital Banking and Innovation

HONG KONG SAR – Media OutReach – 29 September 2021 – Citibank Hong Kong earlier partnered the Hong Kong Science and Technology Parks Corporation (HKSTP) to participate in its Banking, Financial Services and Insurance (BFSI) Accelerator 2021. The programme allows us to enhance our connection and exchange with local and overseas tech ventures, accelerating the digital transformation for banking services.  It also serves a platform for us to create synergies with industry players, sparking innovation through co-creation to achieve viable solutions, nurturing FinTech talents and fostering the ecosystem.  Mr Nailesh Shah, Head of Digital Channels and Experience, Citibank Hong Kong attended the Partner Sharing Session at the Demo Day yesterday and shared with event participants the insights and experience of collaborating with local and overseas tech ventures.

 

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Republic of Korea Continues Food Support for Returning Migrant Workers in Quarantine

Republic of Korea Continues Food Support for Returning Migrant Workers in Quarantine
Republic of Korea Continues Food Support for Returning Migrant Workers in Quarantine.

The Government of the Republic of Korea announced its support to the Ministry of Health and the World Food Programme (WFP) to continue providing food to returning migrants in mandatory Covid-19 quarantine.

Schneider Electric Wins ‘Sustainable Infrastructure Vendor of the Year’ at the CRN UK Tech Impact Awards

  • Award reflects Schneider Electric’s leadership in sustainable infrastructure solutions and its commitments to helping partners and customers reduce their environmental impact
  • To date, Schneider Electric has helped its partners and customers reduce 320 million tonnes of CO2
  • Green Premium™ products accounted for more than 76% of sales in 2020
  • Circular economy addressed though Trade-UPS and ECOFIT™, recycling, and take-back programs

HONG KONG SAR – Media OutReach – 29 September 2021 – Schneider Electric, the leader in digital transformation of energy management and automation, has been awarded ‘Sustainable Infrastructure Vendor of the Year’ at the CRN Tech Impact Awards 2021. The award recognises the company’s leadership in developing sustainable and energy efficient technologies for data centers and edge computing environments, and its proven track record in helping partners and customers deliver solutions that address the crucial issues of sustainability and the circular economy. Launched in March 2021, the CRN Tech Impact Awards honours the vendors, distributors, IT resellers and MSPs leading the way in addressing their own environmental and social impact, and that of their technologies, solutions and services.

 

At Schneider Electric, sustainability is part of our DNA. Our purpose is to empower all to make the most of our energy and our resources, and work with our channel community to bring progress and sustainability through digitization and electrification to a wide range of industries including data centers, energy grids, buildings, and industrial facilities.  Named as Corporate Knights’ ‘Most Sustainable Corporation in the World’ in 2021, Schneider Electric has a history of driving digital transformation globally and today it works with both channel partners and customers to reduce their environmental impact through technological innovation and sustainable business strategies.

 

The company’s Green Premium™ products, for example, offer sustainable performance by design and accounted for more than 76% of sales in 2020. Its ECOFIT™ and Trade-UPS, recycle and take-back programs address the circular economy and ensure the responsible disposal of discarded infrastructure technologies such as MV equipment and UPSs. Further, its EcoStruxure™ solutions and Energy & Sustainability Services directly enable customers to reduce their CO2 footprint and deliver an average of 20% reduced carbon emissions.

 

The company is also no stranger to Net Zero and has worked tirelessly to address the impact of scope-3 emissions on the environment by creating strategies to minimise CO2 in its supply chain and throughout its partner ecosystem. Today its public commitments include:

  • Accelerating its 2030 goal of carbon neutrality in its extended ecosystem by five years to 2025;
  • Removing gas and ensuring the end of SF6 by the end of 2025;
  • Reaching net-zero operational emissions by 2030 as part of validated SBT target;
  • Achieving a net-zero supply chain by 2050.

In 2020, Schneider Electric announced it was accelerating its sustainability commitments and promised to help customers save/ avoid 800M tonnes of carbon emissions by 2025. Just a short time into that program, it has helped to reduce CO2 by 320 million tonnes. Further, it has launched The Zero Carbon Project, an initiative to halve the carbon emissions of its top supply chain partners by 2025, and a call to action already joined by 91% of them.

 

Sustainable technologies for the channel

 

Data center and edge computing energy demands are increasing exponentially and a new report from Schneider Electric found that IT Energy Demands could increase 50% by 2030.  To help partners design, build and deploy sustainable data centers from the cloud to the edge, Schneider has created an industry-leading portfolio of solutions to address the issues of sustainability and energy efficiency. They include:

  • EcoStruxure Data Center Solutionsbringing together power, cooling, racks and management to support sustainable IT in edge applications and data centers.
  • EcoStruxure IT – The industry’s first vendor-agnostic, open, interoperable remote monitoring software platform enabling partners to gain data driven insights that drive sustainable decision-making and digital services.
  • Single and three-phase lithium-ion uninterruptible power supplies (UPS) – such as its Galaxy series; a Green Premium UPS providing up to 99% efficiency when operated in ECOnversion mode.
  • Uniflair Cooling – free cooling system offering 25% more efficiency and sustainability than comparable systems.
  • Liquid cooling technologies – offering 14% lower CapEx and up to 30% energy reduction compared to air-cooling.
  • EcoStruxure Micro Data Centers – pre-integrated, energy efficient edge computing systems combining power, cooling, security, IT and software.
  • SF6-free switchgear – utilising pure air instead of SF6 gas, which has a high Global Warming Potential (GWP).

Further, its EcoStruxure Micro Data Centers offer partners the ability to design, build, and deploy edge facilities sustainably. These systems are used by Alliance Partners such as Cisco, Dell, and HPE to create a standardised, repeatable approach to edge computing, essential to reducing emissions at the edge. 

 

“Climate change has become the greatest challenge of our time, and the role of channel partners has never been more crucial,” said Karlton Gray, Channel Director, Schneider Electric, UK and Ireland. “No single company can reduce its environmental impact alone, and only through greater collaboration, digitization and transparency, can we make Net Zero a reality. At Schneider, our mission is to be your partner for efficiency and sustainability, and we’re truly delighted to have been named the CRN Tech Impact Sustainable Infrastructure Vendor of the Year.”

 

To learn more about Schneider Electric’s sustainability commitments, visit the website.

 

About EcoStruxure™

EcoStruxure™ is our open, interoperable, IoT-enabled system architecture and platform. EcoStruxure delivers enhanced value around safety, reliability, efficiency, sustainability, and connectivity for our customers. EcoStruxure leverages advancements in IoT, mobility, sensing, cloud, analytics, and cybersecurity to deliver Innovation at Every Level. This includes Connected Products, Edge Control, and Apps, Analytics & Services which are supported by Customer Lifecycle Software. EcoStruxure™ has been deployed in almost 500,000 sites with the support of 20,000+ developers, 650,000 service providers and partners, 3,000 utilities and connects over 2 million assets under management.

From energy and sustainability consulting to optimizing the life cycle of your operational systems, we have world-wide services to meet your business needs. As a customer-centric organization, Schneider Electric is your trusted advisor to help increase asset reliability, improve total cost of ownership and drive your enterprise’s digital transformation towards sustainability, efficiency and safety.

About Schneider Electric

Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.

Our mission is to be your digital partner for Sustainability and Efficiency. We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure, and industries.

We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive, and Empowered values.

https://www.se.com/hk/en/

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https://twitter.com/SchneiderElec

https://www.facebook.com/SchneiderElectric?brandloc=DISABLE

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https://www.youtube.com/user/SchneiderCorporate

https://www.instagram.com/schneiderelectric/

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Hashtags: #CRNTechImpact #Sustainability

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Hong Kong Baptist University invents novel cell sensor for rapid and low-cost screening of drug-resistant bacteria

HONG KONG SAR – Media OutReach – 29 September 2021 – A research team led by scientists at Hong Kong Baptist University (HKBU) has developed a novel cell sensor with a barcode-like micro-channel structure that enables rapid and low-cost screening of drug-resistant bacteria. The invention could potentially be used on a large-scale in resource-limited situations such as frequent safety screenings of water, food and public facilities, as well as urgent surveys of massive samples during an infectious disease outbreak, particularly in developing countries.

 

A research paper on the novel invention was published in the international academic journal Biosensors and Bioelectronics.

A research team led by Dr Ren Kangning, Associate Professor of the Department of Chemistry at HKBU (left), designed a fully automatic, microscope-free antimicrobial susceptibility testing (AST) system. It enables rapid and low-cost screening of drug-resistant bacteria by scanning the “barcode” on the cell sensor with a mobile app, which is shown by Chan Chiu-wing, a member of the research team and a PhD student of the Department of Chemistry at HKBU (right).

 

The cell sensor with a barcode-like micro-channel structure comprises two main parts: a cell culture zone and a “barcode” cell sensor.

A rapid and low-cost testing approach

 

Antibiotics are often used to treat bacterial infections, but the overuse and misuse of antibiotics have created the problem of drug resistance. Antimicrobial susceptibility testing (AST) is used to determine which antibiotics can effectively inhibit the growth of a certain type of bacteria effectively. However, conventional AST methods are too slow, as they require 16 to 24 hours for results, while modern rapid ASTs are expensive and require elaborated laboratory equipment. A rapid and cost-effective strategy is therefore needed to screen bacterial samples onsite, with advanced laboratory testing arranged only for those suspected of containing drug-resistant bacteria.

 

In response to this need, a research team led by Dr Ren Kangning, Associate Professor of the Department of Chemistry at HKBU designed a fully automatic, microscope-free AST system. It comprises two main parts: a cell culture zone and a “barcode” cell sensor. The cell culture zone consists of a set of micro-channels filled with fluids that contain cell culture media as well as different concentrations of the antibiotic. The “barcode” cell sensor contains an array of “adaptive linear filters” arranged in parallel that resembles a “barcode” structure. Users can finish the onsite screening within three hours by scanning the “barcode” with a mobile app developed by the researchers, and it will indicate whether any drug-resistant pathogenic bacteria is present in the sample.

 

Quantity of bacteria represented by bar length

 

When conducting AST with the system, bacterial samples will be injected into and incubated in the cell culture zone. Bacteria in the test sample inside the micro-channels show different proliferation rates depending on different concentrations of the antibiotic.

 

After completion of the culture period, the bacterial cells will flow through the “adaptive linear filters”. The cells will not accumulate around the nanopores on the sidewalls of the micro-channels, instead they will be driven down by the fluid and be collected from the end of the micro-channels. The accumulated cells will then form visible vertical bars, the lengths of which are proportional to the quantity of bacteria cells cultured under the different concentrations of the antibiotic.

 

A cell phone equipped with a macro-lens can then be used to photograph the “barcode” created by the AST. The image will be analysed automatically by the mobile app.

 

Results consistent with conventional AST

 

After the culture period, if all the “bars” of the cell sensor have similar lengths, it means the tested antibiotic cannot inhibit the growth of the bacteria, and thus the bacterial sample is resistant to the tested antibiotic. If the length of the “bars” is in general inversely proportional to the concentration of the antibiotic in the micro-channels, it shows that the tested antibiotic is generally effective at prohibiting the growth of the bacteria, and thus the bacteria is not drug-resistant. When two adjacent “bars” show a sharp difference in terms of length, it indicates that the antimicrobial effect of the antibiotic leaps when its concentration reaches a particular level.

 

The research team tested E. coli and S. aureus with the “barcode” cell sensor and the results were consistent with those of the conventional AST. The test can be completed in three hours, which is much faster than the conventional AST. Microfluidic approaches developed by other researchers can also attain comparable speed, but they rely on expensive instruments for analysis in general.  

 

Potential for use in resource-limited regions

 

“Our ‘barcode’ testing system is a promising new tool in the fight against antimicrobial resistance. We hope that it will benefit the routine screening of drug-resistant bacteria in the food industry, public areas and healthcare facilities as it does not require advanced clinical facilities or professional testing skills,” said Dr Ren.

 

The “barcode” cell sensor has a low production cost, and it is estimated to be below one US dollar per piece. The research team has filed a patent application for the “barcode” cell sensor. “We plan to develop our invention into a portable AST instrument, and ultimately, we hope it can be used in resource-limited regions,” Dr Ren added.

 

Apart from researchers from HKBU’s Department of Chemistry, the research team of the “barcode” cell sensor also included scientists from the Department of Computer Science at HKBU and the School of Medicine at Stanford University.

#HongKongBaptistUniversity #HKBU

Cushman & Wakefield Commits to Industry-Leading Science Based Targets and Reaching Net Zero Emissions Across Its Value Chain by 2050

Real estate firm sets ambitious science-based targets and commits to partnering with clients to achieve net zero value chain emissions by 2050

HONG KONG SAR – Media OutReach – 29 September 2021 – Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm, recently announced ambitious science-based targets to reduce greenhouse gas (GHG) emissions that are approved by the Science Based Targets initiative (SBTi). In addition, by signing up to the Business Ambition for 1.5ºC campaign, Cushman & Wakefield pledges to reach net zero emissions across its entire value chain by 2050.

 “With buildings generating a significant portion of the world’s carbon emissions, we recognize Cushman & Wakefield plays a vital role in shaping a sustainable future for the real estate industry and beyond,” said Brett White, Executive Chairman & CEO of Cushman & Wakefield.

 

Cushman & Wakefield will immediately focus efforts on its corporate offices and operations by committing to reduce absolute scope 1 and 2 market-based GHG emissions 50% by 2030 from a 2019 base year. Scope 1 includes direct emissions, and scope 2 emissions are from purchased heat and electricity.

 

The firm’s science-based targets will not only reduce absolute GHG emissions from its corporate operations, but will also include the facilities it manages on behalf of its clients, some of the world’s largest real estate owners and occupiers.

 

Leading by example, the firm commits to partnering with its clients (representing 70% of its scope 3 value chain emissions) to set their own science-based targets by 2025. Notably, approximately 99% of Cushman & Wakefield’s emissions come from facilities it manages on behalf of clients, and the firm is committed to actualizing its vision of a sustainable future that extends beyond its own corporate footprint.

 

These targets have been approved by the SBTi.

 

Additionally, by 2050, the firm pledges to achieve net zero emissions across its entire value chain, encompassing all direct and indirect business elements that contribute to GHG emissions (scopes 1, 2 and 3). This target was pledged through the Race to Zero campaign and the SBTi’s Business Ambition for 1.5°C pathway—initiatives using climate science frameworks to reach net zero in a global effort to avoid the most catastrophic impacts of climate change.

“As a leader in the commercial real estate industry, we understand environmental action requires bold commitments aligned with climate science,” said John Forrester, President of Cushman & Wakefield. “These commitments further our ongoing efforts to reduce our impact and our clients’ impact on the environment as well as mitigate the impacts of climate change. We have an opportunity and responsibility to continually evaluate our organization and hold ourselves accountable for the intended outcomes. We realize our work goes beyond the present moment and will impact generations to come.”

“We congratulate Cushman & Wakefield on setting science-based targets consistent with limiting warming to 1.5°C, the most ambitious goal of the Paris Agreement,” said Alberto Carrillo Pineda, Managing Director, Science Based Targets at CDP, one of the SBTi partners. “By setting ambitious science-based targets grounded in climate science, Cushman & Wakefield is taking action to prevent the most damaging effects of climate change.”

 

These recently announced science-based targets build upon Cushman & Wakefield’s longstanding commitment to reducing its own environmental impact across the property life cycle, in addition to suppliers’ and clients’ impact. In 2020, the firm achieved a 1.1% absolute reduction in scope 1 and 2 (market-based) GHG emissions; a 2.5% absolute reduction in scope 3 GHG emissions; and a 14% reduction in total scope 1 and 2 GHG emissions per million square feet (MSF) of office space. Cushman & Wakefield also worked with clients to provide energy and sustainability services to over 370 MSF of space in the U.S. in 2020. More information is available in the firm’s 2020 Corporate Social Responsibility Report.

 

Learn more about Cushman & Wakefield’s science-based targets and net zero commitment.

About Cushman & Wakefield

Cushman & Wakefield is a leading global advisory services firm that delivers exceptional value for real estate occupiers and owners, with approximately 50,000 employees in over 400 offices and 60 countries. In Greater China, a network of 22 offices serves local markets across the region, earning recognition and winning multiple awards for industry-leading performance. The firm had global revenues of US$7.8 billion in 2020 across core services including valuation, consulting, project & development services, capital markets, project & occupier services, industrial & logistics, retail and others.


#Cushman&Wakefield

Advanced Energy’s LGA110D delivers best-in-class DC-DC power conversion with 30% higher power density

Featuring high current rating, high density and flexible control functions, the new point-of-load DC-DC converter is ideal for complex and high current applications

DENVER, COLORADO – Media OutReach – 29 September 2021 – Advanced Energy (Nasdaq: AEIS) – a global leader in highly engineered, precision power conversion, measurement and control solutions – today introduced the Artesyn LGA110D, a 110 amp-rated, non-isolated digital point-of-load DC-DC converter. The latest addition to the company’s LGA family, the LGA110D delivers a higher current rating at 30% higher power conversion density than any DC-DC converters in its class, making it a superior solution for a broad range of applications in the industrial, medical, telecom and IT infrastructure markets.



“Thanks to its market-leading power density, the LGA110D increases operational efficiency to more than 96%,” said Joe Voyles, vice president of marketing, industrial power conversion products at Advanced Energy. “The higher peak efficiency reduces power dissipation by 15% compared to older generations with the same small form factor.”

 

In addition to its superior current density of 220 amps per square inch, the LGA110D features two independently controlled 55-amp/175-watt outputs, which means fewer power converters are needed in multiple channel or high current applications. The dual outputs can be selected as completely independent, configured to a single output or synchronized with up to three other LGA110D converters for truly flexible design combinations. This frees up PCB space and reduces overall system cost while addressing the increasing current requirements in FPGA or ASIC devices used in complex, demanding applications.

 

With both analog and digital control functions, the LGA110D can be conveniently controlled with external resistors or using the industry standard PMBus digital interface that features additional control functions to offer designers more system integration possibilities.

 

For detailed product information and technical specifications, visit www.artesyn.com/power-supplies/websheet/653/lga110d-series.

About Advanced Energy

Advanced Energy (Nasdaq: AEIS) is a global leader in the design and manufacturing of highly engineered, precision power conversion, measurement and control solutions for mission-critical applications and processes. AE’s power solutions enable customer innovation in complex applications for a wide range of industries including semiconductor equipment, industrial, manufacturing, telecommunications, data center computing and healthcare. With engineering know-how and responsive service and support around the globe, the company builds collaborative partnerships to meet technology advances, propel growth for its customers and innovate the future of power. Advanced Energy has devoted more than three decades to perfecting power for its global customers and is headquartered in Denver, Colorado, USA. For more information, visit www.advancedenergy.com.

Advanced Energy | Precision. Power. Performance.

#AdvancedEnergy

Over 480 Families Affected by Floods in Kenthao District, Xayaboury

Flooding in Kenthao District

Villages in Kenthao District, Xayaboury Province have suffered severe flooding after days of heavy rain.

Mission 26: GEA presents growth strategy for the next five years

  • Organic sales to grow by an average of 4.0 to 6.0 percent annually through 2026
  • Record EBITDA margin before restructuring charges of more than 15 percent expected by 2026
  • Tapping new opportunities in the dynamic New Food market and the service business to drive profitable growth
  • Company commits to ambitious climate and sustainability targets

LONDON, UK – EQS Newswire – 29 September 2021 – GEA Group presents today its “Mission 26” strategy in London as part of its Capital Markets Day. The plan for the next five years defines seven key levers to accelerate sustainable, profitable growth. The focus is on sustainability, innovation and digital solutions, New Food, as well as excellence initiatives in sales, service and operations. The company is also looking at targeted acquisitions.

“We have set ourselves the goal of being at the forefront of the mechanical and plant engineering industry,” says Stefan Klebert, CEO GEA. “We take it upon ourselves to protect future generations by offering sustainable solutions for the food and pharmaceutical industries. In these attractive markets, we want to continue to grow profitably while contributing to a better world, as anchored in our purpose – engineering for a better world.”

Ambitious financial targets set for 2026
“Mission 26” sets ambitious financial targets for 2026. Organic sales growth of 4.0 to 6.0 percent per year is expected, leading to sales of around EUR 6 billion (FY 2020: EUR 4.635 billion). The EBITDA margin before restructuring expenses is projected to grow to a record level of more than 15 percent (FY 2020: 11.5%). The Group-wide return on capital employed (ROCE) is anticipated to increase significantly to over 30 percent (FY 2020: 17.1%).

In the context of further targets, a stable ratio of net working capital to sales of 8.0 to 10.0 percent is expected by 2026. Capital expenditure (CAPEX) is projected to be around EUR 200 million annually until 2026. Overall, this leads to strong free cash flow generation of around EUR 2 billion from 2022 until 2026.

“We are creating significant value for our shareholders through 2026 and beyond,” says Marcus Ketter, CFO. “Our shareholders will participate in this success with sustainable dividend increases.”

Holistic climate and sustainability approach
In June 2021, GEA presented its interim targets for reducing its own greenhouse gas emissions alongside its net zero ambition for 2040. Greenhouse gas emissions in Scopes 1 and 2 are to be reduced by 60 percent and in Scope 3 by 18 percent by 2030 (base year 2019). The Science Based Targets initiative (SBTi), the globally recognized independent body for reviewing climate targets, validated GEA’s CO2 reduction targets in September 2021. SBTi thus confirms that GEA’s interim targets follow the latest climate science and make an effective contribution to achieving the 1.5-degree Celsius target of the Paris Climate Agreement.

In addition to the climate targets already communicated, GEA has set ambitious ESG targets. Combined, these measures focus on environmentally sustainable customer solutions and responsible operations. Furthermore, GEA aims to be the employer of choice in the industry.

“Sustainability is firmly anchored in the company’s DNA and is therefore also an essential part of Mission 26,” says Klebert. “With our ambitious approach, we help our customers achieve their own environmental goals. Likewise, we strive for the highest standards in our operations and support our employees in developing their skills. In this way, we live up to our social responsibility and ensure GEA’s lasting success.”

GEA drives product innovation with R&D and digitalization
“Innovation & Digitalization” are also expected to make a significant contribution to realizing the goals of “Mission 26”. Here, GEA aims to increase the proportion of sales of products that are less than five years old – from the current level of 10 percent to about 30 percent. To fuel this development, GEA will increase its research & development spending by approximately 45 percent over the next few years.

In addition to introducing new products, GEA will offer customers more digital solutions to further enhance their processes and GEA machine efficiency. To drive the digital customer journey and the development of digital solutions forward, these competencies haven been combined under the newly created position of Chief Digital Officer (CDO), effective August 1, 2021.

Growth market New Food: GEA with unique position
In the dynamically growing New Food market, GEA will expand its already strong position and become a market leader. Here, the company intends to leverage its strengths in scaling industrial applications and its unique position as a full-line supplier. GEA anticipates order intake for newly developed and existing machines from this segment to exceed EUR 400 million per year by 2026. “Consumer expectations around food are changing. For example, environmental impact and animal welfare are increasingly prioritized, and demand for high-quality, protein-rich foods is growing rapidly. GEA is optimally positioned to meet this demand,” explains Klebert.

GEA has already demonstrated its strength in this dynamic market by winning one of the largest orders in the company’s history: Novozymes, the world’s largest supplier of enzyme and microbial technologies in Denmark, is entrusting GEA with the turnkey fitting of a large-scale plant in the U.S. to produce plant-based proteins.

Excellence initiatives in sales, service and operations

Further growth opportunities for “Mission 26” lie in sales, service, purchasing and production. In GEA’s regions and countries, sales effectiveness and presence will be better exploited by deploying more of the company’s own sales staff in key markets. Sales of new machines are expected to grow by 4.0 to 5.0 percent per year until 2026.

Further growth potential was also identified in the service area, which is a resilient and profitable business for GEA. The aim is to increase coverage and expand the service business with customers by 2026, thereby boosting recurring revenue. This approach is expected to generate annual organic revenue growth of 5.0 to 6.0 percent in the service business until 2026.

The optimization measures announced at the 2019 Capital Markets Day impacting purchasing, production and logistics will be continued. In the process, purchasing activities were bundled in a central purchasing organization, the production network was improved, and greater flexibility was created at sites. The aim is to enable a transition to best-in-class procurement by 2026, further optimize the production network and reduce delivery times to customers.

“Global Operations is undergoing a comprehensive and long-term transformation process,” explains Johannes Giloth, COO GEA: “In addition to cost reductions, this also involves creating structures for further growth. In this way, Global Operations will continue to have a significant positive impact on profitability in the future.” Between 2022 and 2026, further optimizations in purchasing (EUR 90 million) and production (EUR 60 million) are expected to have a total net impact on EBITDA of EUR 150 million.

GEA examines possible acquisitions
Strong cash generation and a solid balance sheet will enable external growth. GEA will therefore examine value-enhancing acquisitions to strengthen its portfolio.

Outlook for business development in 2021 and 2022 confirmed
GEA confirms the guidance for fiscal year 2021 that was raised in July 2021. Organic growth of 5.0 to 7.0 percent is expected for revenue. EBITDA before restructuring expenses at constant exchange rates is anticipated to be in a range between EUR 600 million and EUR 630 million. The outlook for ROCE at constant exchange rates is likely to be in the range between 23 to 26 percent.

At the Capital Markets Day in September 2019, GEA communicated its targets up to 2022. In March 2021, when the annual figures for 2020 were presented, GEA adjusted its medium-term financial targets for 2022 upwards. GEA has confirmed these again. Group revenue is expected to grow by an average of 2.0 to 3.0 percent annually from 2019 until 2022, the EBITDA margin before restructuring expenses is to increase to a target corridor of 12.5 to 13.5 percent (Capital Markets Day 2019: 11.5 to 13.5 percent) and the ratio of net working capital to revenue is to be reduced to the range between 8.0 and 10.0 percent (Capital Markets Day 2019: 12.0 to 14.0 percent).

About GEA

GEA is one of the world’s largest systems suppliers to the food, beverage and pharmaceutical industries. The internationally active industrial technology group focuses on machines and plants as well as sophisticated process technology, components and comprehensive services. With more than 18,000 employees, the Group generated sales of more than EUR 4.6 billion in fiscal year 2020. A key focus is on making customers’ production processes ever more sustainable and efficient. GEA’s plants, processes and components help to significantly reduce CO2 emissions, the use of plastics and food waste in production worldwide. In line with its corporate mission statement “engineering for a better world”, GEA is thus making a decisive contribution to a sustainable future.

GEA is listed in the German MDAX and the STOXX(R) Europe 600 Index and is also one of the companies that make up the sustainability indices DAX 50 ESG and MSCI Global Sustainability.

GEA is also one of the companies that make up the DAX 50 ESG and MSCI Global Sustainability indices.

Here you can register for the virtual press conference at 10 am CET (9am GMT) on September 29: https://edge.media-server.com/mmc/p/yuzhrxej

For more information, visit gea.com.

If you do not wish to receive further communications from GEA, please email pr@gea.com.

#GEA