GEA Boosts Profitability in Second Quarter of 2024

GEA Group Aktiengesellschaft reported a notable rise in profitability for the second quarter of 2024, despite challenging market conditions. EBITDA before restructuring expenses rose to EUR 200.6 million from EUR 191.5 million in the same period of the previous year. The EBITDA margin increased to 15.2% from 14.3%.

The company saw a slight decline in revenue by 1.4% to EUR 1,323 million, with organic revenue growing by 1.6%. However, order intake decreased by 6.7% to EUR 1,289 million.

CEO Stefan Klebert highlighted the company's resilience and efficiency in difficult times. The service business, which is highly profitable, saw its revenue share grow to 38.9% from 35.5%.

GEA's net working capital remained stable at 9.1% of revenue. The company's ROCE stood at a high level of 32.3%. Both Moody’s and Fitch have upgraded GEA's credit rating, recognizing its improved financial profile.

GEA also ranked among the world's most sustainable companies, placing 33rd globally in TIME Magazine and Statista's analysis.