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GEA Group Aktiengesellschaft: GEA raises outlook for fiscal year 2021 and publishes preliminary figures for the second quarter

·4-min read

DGAP-News: GEA Group Aktiengesellschaft / Key word(s): Change in Forecast/Preliminary Results
29.07.2021 / 17:20
The issuer is solely responsible for the content of this announcement.

GEA raises outlook for fiscal year 2021 and publishes preliminary figures for the second quarter


Düsseldorf (Germany), July 29, 2021 - As a result of a very good performance to date in the first half of 2021 and increasingly effective efficiency measures, GEA Group AG is raising its current outlook for fiscal year 2021. The Group now expects organic revenue growth of 5 to 7 percent, compared with 0 to 5 percent previously. EBITDA before restructuring expenses at constant exchange rates is now expected to be in a range between EUR 600 and 630 million. Previously, this figure was expected to be between EUR 530 million and EUR 580 million. For return on capital employed (ROCE) at constant exchange rates, the new expectation is 23 to 26 percent instead of the previous 16 to 20 percent. These figures mean that the new forecast is above the current market expectations of financial analysts. In this new forecast, GEA assumes that there will no longer be any severe restrictions on economic activity in the second half of 2021 due to measures to combat the Covid-19 pandemic.

 

Fiscal Year 2021

 

   Fiscal Year 2020   

Initial Guidance

  Updated Guidance  

Organic growth of revenue

-2.6%

0 - 5%

5 - 7%

EBITDA1

EUR 532 million

EUR 530 - 580 million

EUR 600 - 630 million

EBITDA1-margin

11.5%

11.4 - 12.2%

12.4 - 13.0%

ROCE1,2

17.1%

16 - 20%

23 - 26%

 

1 before restructuring expenses
2 at constant FX


"GEA performed excellently in the first half of the year due to its very good market position and the increasing success of the ongoing efficiency program. Demand for our components, plants, and services continues to grow," commented Stefan Klebert, CEO of GEA Group AG. "Our appreciation goes to our global workforce, who, despite continued difficult working conditions in some areas, are ensuring customer satisfaction and at the same time the consistent implementation of our projects."

Following a strong first quarter of 2021, key financial indicators continued to develop very well in the second quarter based on preliminary figures. Order intake increased significantly by 25.1 percent to EUR 1,294 million. Organic growth was as high as 30.2 percent. Revenue decreased slightly by 0.8 percent to EUR 1,156 million. Organically, however, revenue increased by 3.4 percent. EBITDA before restructuring expenses increased by 9.4 percent to EUR 153.7 million. ROCE increased significantly to 21.7 percent (previous year: 14.8 percent).

GEA will publish its full half-year report 2021 as planned on August 13, 2021.

 

Media Relations:
Marc Pönitz
Peter-Müller-Strasse 12, 40468 Düsseldorf, Germany
Phone +49 (0)211 9136-1500
marc.poenitz@gea.com

About GEA
GEA is one of the world's largest systems suppliers for the food, beverage and pharmaceutical sectors. The international industrial technology group specializes in machinery and plants as well as advanced process technology, components and comprehensive services. With more than 18,000 employees, the group generated revenue of more than EUR 4.6 billion in fiscal year 2020. A major focus is on continuously enhancing the sustainability and efficiency of customers' production processes. GEA plants, processes and components help achieve significant reductions in carbon emissions, plastic use and food waste in production worldwide. In this way, GEA makes a decisive contribution toward a sustainable future, fully in line with its corporate philosophy of "engineering for a better world."

GEA is listed in the German MDAX and the STOXX(R) Europe 600 Index, and is also among the companies comprising the DAX 50 ESG and MSCI Global Sustainability Indices.

More information can be found online at gea.com.

Contact
GEA Group Aktiengesellschaft
Phone +49 (0)211 9136 1081
Fax +49 (0)211 9136 31087
gea.com


29.07.2021 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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

EQS News ID:

1222812


 

End of News

DGAP News Service

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