GEA GROUP AG 
The operating return on sales (EBITDA margin) before restructuring costs will rise to between 14.9 and 15.2 percent in the current year (2023: 14.4 percent), the company announced on Wednesday. GEA had previously forecast 14.5 to 14.8 percent. As planned, sales - excluding acquisitions and disposals - are expected to increase by two to four percent. This would result in an operating result (EBITDA) of around EUR 820 to 850 (774) million, with group sales of EUR 5.5 to 5.6 billion. "This means we will achieve our ambitious 'Mission 26' financial targets two years earlier than planned," said CEO Stefan Klebert.
In 2021, GEA had forecast an operating margin of more than 15 percent for 2026; in 2020, it was 11.5 percent. By then, sales were expected to increase by an average of four to six percent per year to more than six billion euros. GEA wanted to increase its return on capital employed (ROCE) to more than 30 percent - with an expected 32 to 35 percent (previously: 29 to 34 percent), this would also be achieved this year.
In the first six months of the year, GEA's revenue - excluding acquisitions and disposals - rose by 2.2 percent to EUR 2.57 billion. The operating result increased to EUR 381 (363) million, which corresponds to a return on sales of 14.9 (13.9) percent. "We are pleased with the positive development in the first half of the year," said Klebert. GEA is "looking to the second half of the year with confidence". The share, which is listed on the MDax small cap index, rose by 0.8 percent to EUR 39.34.
(Report by Alexander Hübner, edited by Ralf Banser. If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)
