Press Release
FOR IMMEDIATE RELEASE

Düsseldorf, August 7, 2024

GEA boosts profitability in second quarter of 2024––––––––

Order intake down 3.5 percent in organic terms; reported order intake down 6.7 percent to EUR
1,289 million (Q2 2023: EUR 1,381 million)
Organic revenue growth of 1.6 percent; reported revenue down by 1.4 percent to EUR 1,323 million(Q2 2023: EUR 1,342 million)
EBITDA before restructuring expenses increased to EUR 200.6 million (Q2 2023: EUR 191.5 million);further significant increase in the corresponding EBITDA margin to 15.2 percent (Q2 2023:14.3 percent)
ROCE of 32.3 percent remains at high level (Q2 2023: 33.8 percent)
Net working capital, at 9.1 percent of revenue, stable within target range of 8.0 to 10.0 percent (Q22023: 8.5 percent)
Outlook raised for EBITDA margin and ROCE on July 10; revenue outlook confirmed
GEA among the world’s most sustainable companies according to TIME Magazine and Statista
Rating agencies Moody’s and Fitch raise GEA’s credit rating

GEA once again increased profitability and significantly improved its EBITDA margin before restructuring
expenses in the second quarter of 2024. On July 10, 2024, in view of the positive operating performance,
the Executive Board raised the outlook for both the EBITDA margin and ROCE for the financial year2024.
“In the first half of 2024, we once again demonstrated our ability to operate efficiently and successfully,
even in difficult times,” said CEO Stefan Klebert. “Our profitability again increased significantly andorganic revenue growth remained stable. The market environment continues to be challenging, but weare confident about the second half of the year.”Further organic revenue growth; expansion of profitable service business continues
Order intake in the second quarter of 2024 was down 6.7 percent to EUR 1,289.4 million (Q2 2023: EUR
1,381.4 million). The organic decrease was 3.5 percent. Growth in the Separation & Flow Technologies
and Heating & Refrigeration Technologies divisions did not fully offset the decline in the other divisions.
In terms of customer industries, notably Beverage, Dairy Processing and Food showed increases while
the remaining customer industries were down.
Revenue decreased slightly in the reporting quarter by 1.4 percent to EUR 1,323.3 million (Q2 2023:
EUR 1,342.2 million). On an organic basis, however, revenue grew by 1.6 percent. Currency translation
effects reduced performance by around 3 percent. The Separation & Flow Technologies and Farm
Technologies divisions contributed most to the organic growth. The share of the service businessrevenue, which has above-average profitability, expanded markedly to 38.9 percent (Q2 2023:35.5 percent). All divisions contributed here.

GEA Group Aktiengesellschaft
Phone +49 211 9136-1492 - gea.com
Peter-Müller-Str. 12, 40468 Düsseldorf, Germany

Media Relations
Anne Putz, +49 211 9136-1500
pr@gea.com

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Press Release
Strong earnings performance continues in second quarter
EBITDA before restructuring expenses improved by 4.7 percent to EUR 200.6 million in the second
quarter, mainly due to the higher gross profit. The corresponding EBITDA margin grew significantly from
14.3 percent in the prior-year quarter to 15.2 percent. All divisions, with the exception of FarmTechnologies, increased their EBITDA margin.
Profit for the period rose to EUR 98.8 million, compared to EUR 97.8 million in the second quarter of2023. With a reduced number of shares, earnings per share increased from EUR 0.57 to EUR 0.59. At
EUR 0.66, earnings per share before restructuring expenses were also up on the prior-year figure ofEUR 0.62.
Net working capital remains within target range
Net liquidity amounted to EUR 31.8 million as of the June 30, 2024 (June 30, 2023: EUR 65.1 million).
The decrease mainly related to payouts for the share buyback program and the May 2024 dividend
payment for the financial year 2023. Net working capital as a proportion of revenue, at 9.1 percent,remained stable within the target range of 8.0 to 10.0 percent (June 30, 2023: 8.5 percent).
Return on capital employed (ROCE) fell slightly to what is still a high level of 32.3 percent as of June 30,2024 (June 30, 2023: ROCE of 33.8 percent). The decline was mainly due to the fact that capital
employed increased by more than EBIT before restructuring expenses.
First half-year 2024 at a glance
At EUR 2,654.4 million, order intake in the first half of the financial year 2024 was 10.4 percent below theprior-year figure of EUR 2,962.1 million. In organic terms, this corresponds to a decline of 6.8 percent.
Revenue decreased slightly by 1.9 percent to EUR 2,564.5 million (H1 2023: EUR 2,613.1 million), but
was 2.2 percent up in organic terms. The share of service business revenue increased to 38.5 percent(H1 2023: 36.0 percent). EBITDA before restructuring expenses rose by 4.9 percent to EUR 381.1million (H1 2023: EUR 363.3 million). The corresponding EBITDA margin grew noticeably to 14.9percent (H1 2023: 13.9 percent). Profit for the period improved by 5.5 percent to EUR 189.3 million (H12023: EUR 179.5 million). Earnings per share rose to EUR 1.12 (H1 2023: EUR 1.04); before
restructuring expenses, earnings per share increased to EUR 1.25 (H1 2023: EUR 1.17).
Outlook raised for EBITDA margin and ROCE; revenue outlook confirmed
On July 10, 2024, due to the positive operating performance in the first half of 2024, GEA significantly
raised its outlook for the EBITDA margin before restructuring expenses in the financial year 2024. GEA
now puts the outlook range at 14.9 to 15.2 percent (previously: 14.5 to 14.8 percent). In addition, theoutlook for return on capital employed (ROCE) has been revised upward to between 32.0 and 35.0
percent (previously: 29.0 to 34.0 percent). The outlook for organic revenue growth remains unchanged at
between 2.0 and 4.0 percent.
GEA is one of the world’s most sustainable companies and ranks among the top 3 in Germany
The prestigious TIME Magazine and Statista have determined the world’s most sustainable companiesof 2024. The top 500 out of 5,000 companies worldwide were assessed in detail against more than 20
sustainability criteria. GEA ranked 33rd globally and third in Germany.

GEA Group Aktiengesellschaft
Phone +49 211 9136-1492 - gea.com
Peter-Müller-Str. 12, 40468 Düsseldorf, Germany

Media Relations
Anne Putz, +49 211 9136-1500
pr@gea.com

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Press Release
Rating agencies Moody’s and Fitch recognize GEA’s improved financial and business profile
GEA’s credit rating has been assessed by international rating agencies Moody’s and Fitch for manyyears. These have now acknowledged the improvement in the company’s financial and business profile
in recent years. In May 2024, Fitch confirmed its BBB credit rating for GEA and raised the outlook fromstable to positive. Moody’s lifted GEA’s long-term rating in June 2024 from Baa2 to Baa1 and at thesame time revised the outlook from positive to stable.

GEA Group Aktiengesellschaft
Phone +49 211 9136-1492 - gea.com
Peter-Müller-Str. 12, 40468 Düsseldorf, Germany

Media Relations
Anne Putz, +49 211 9136-1500
pr@gea.com

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Press Release
Financial Key Figures of GEA
Q2
20241

Q2
20231

Changein %

Q1-Q2
2024

Q1-Q2
2023

Changein %1,289.4

1,381.4-6.7

2,654.4

2,962.1-10.4

Book-to-bill ratio

0.97

1.03

–

1.04

1.13

–

Order backlog

3,163.8

3,451.9-8.3

3,163.8

3,451.9-8.3

Revenue(EUR million)
Results of operations
Order intake

1,323.3

1,342.2-1.4

2,564.5

2,613.1-1.9

Organic revenue growth2

1.6

9.4

-779 bp

2.2

11.5-935 bp

Share of service revenue in %

38.9

35.5

332 bp38.5

36.0

243 bp

EBITDA before restructuring expenses

200.6

191.5

4.7

381.1

363.3

4.9

14.3

89 bp

14.9

13.9

96 bp

358.2

336.5

6.4

as % of revenue

15.2

EBITDA

185.5

179.2

3.5

EBIT before restructuring expenses

151.1

147.4

2.5

284.0

275.2

3.2

EBIT

136.1

135.1

0.7257.9

248.0

4.0

Profit for the period

98.8

97.8

1.0

189.3

179.5

5.5

ROCE in %3

32.3

33.8

-150 bp

32.3

33.8

-150 bp

Cash flow from operating activities

117.3

30.7

> 100

75.1

-18.6

–

Cash flow from investing activities

-34.1

-63.7

46.5

-49.3

-66.8

26.2

Free cash flow

83.3

-33.0

–

25.8

-85.4

–

486.1

457.5

6.3

486.1

457.5

6.3

8.5

63 bp

9.1

8.5

63 bp

1,912.2

1,862.9

2.6

Financial position

Net assets
Net working capital (reporting date)
as % of revenue (LTM)

9.1

Capital employed (reporting date)4

1,912.2

1,862.9

2.6

Equity2,317.5

2,261.0

2.5

2,317.5

2,261.0

2.5

Equity ratio in %

40.8

39.6

124 bp40.8

39.6

124 bp

Net liquidity (+)/Net debt (-)5

31.8

65.1

-51.1

31.8

65.1

-51.1

Earnings per share (EUR)

0.59

0.57

3.4

1.12

1.04

7.5

Earnings per share before restructuring expenses (EUR)

0.66

0.62

6.3

1.25

1.17

7.1

Market capitalization (EUR billion; reporting date)6

6.7

6.9

-2.9

6.7

6.9

-2.9Employees (FTE; reporting date)

18,56818,5550.1

18,56818,5550.1

Total workforce (FTE; reporting date)

19,371

19,567-1.0

19,371

19,567-1.0

GEA Shares

1) Additional information: not subject to external audit review
2) Adjusted for portfolio and currency translation effects.
3) EBIT before restructuring expenses of the last 12 months. Capital employed average of the last 4 quarters and excluding goodwill from the acquisition of the former GEA AG by former
Metallgesellschaft AG in 1999.
4) Capital employed excluding goodwill from the acquisition of the former GEA AG by former Metallgesellschaft AG in 1999.
5) Including lease liabilities of EUR 178.6 million as of June 30, 2024 (June 30, 2023: EUR 156.7 million).
6) The market capitalization include treasury shares; XETRA closing price as of June 28, 2023: EUR 38.90; XETRA closing price as of June 30, 2023: EUR 38.18

GEA Group Aktiengesellschaft
Phone +49 211 9136-1492 - gea.com
Peter-Müller-Str. 12, 40468 Düsseldorf, Germany

Media Relations
Anne Putz, +49 211 9136-1500
pr@gea.com

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Press ReleaseNOTE TO EDITORS––––––

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Media Relations
Anne Putz
Peter-Müller-Str. 12, 40468 Düsseldorf, Germany
Phone +49 211 9136-1500
anne.putz@gea.com
About GEAGEA is one of the world’s largest suppliers of systems and components to the food, beverage and pharmaceutical industries.
The international technology group, founded in 1881, focuses on machinery and plants, as well as advanced process
technology, components and comprehensive services. With more than 18,000 employees, the group generated revenues ofabout EUR 5.4 billion in more than 150 countries in the 2023 fiscal year. GEA plants, processes, components and services
enhance the efficiency and sustainability of customer’s production. They contribute significantly to the reduction of CO2emissions, plastic usage and food waste. In doing so, GEA makes a key contribution toward a sustainable future, in line with thecompany’s purpose: ”Engineering for a better world“.
GEA is listed on the German MDAX the European STOXX® Europe 600 Index and is among the companies comprising
the DAX 50 ESG, MSCI Global Sustainability as well as Dow Jones Sustainability World and Dow Jones Sustainability EuropeIndices.
More information can be found online at gea.com.
If you do not want to receive any further information from GEA, please send an e-mail to pr@gea.com.

GEA Group Aktiengesellschaft
Phone +49 211 9136-1492 - gea.com
Peter-Müller-Str. 12, 40468 Düsseldorf, Germany

Media Relations
Anne Putz, +49 211 9136-1500
pr@gea.com

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