GEA Group Reports Fiscal Year 2023 Earnings Increase and Dividend Growth

GEA Group Aktiengesellschaft announced a positive financial performance for the fiscal year 2023, with a noticeable rise in earnings and a proposal for a dividend hike. Despite a reported order intake decrease of 3.7% to EUR 5,469 million, the organic order intake experienced a modest growth of 0.8%. The company's revenue increased by 4.0% to EUR 5,373 million, with organic revenue rising by 8.4%. Notably, EBITDA before restructuring expenses surged by EUR 62 million to EUR 774 million, resulting in a margin improvement from 13.8% to 14.4%. The Return on Capital Employed (ROCE) also saw an uptick to 32.7%.

Stefan Klebert, CEO of GEA Group, attributed the company's resilient performance to the dedication of its employees amidst the fiscal year's challenging conditions. He also highlighted a positive outlook for fiscal year 2024, with expectations of revenue growth between 2 and 4% and an EBITDA margin before restructuring expenses ranging from 14.5 to 14.8%.

The company's medium-term financial goals through 2026 have been reaffirmed, targeting a continued organic revenue growth, an EBITDA margin beyond 15%, and a ROCE of over 30%. Furthermore, GEA plans to engage its shareholders in its Climate Transition Plan 2040, aiming for a net-zero transformation.