GEA Group Reports Profitable Growth in Q1 2024, Maintains Positive Full-Year Outlook

• GEA Group Aktiengesellschaft continues profitable growth in Q1 2024, with organic revenue growth of 2.7% and an increase in EBITDA margin by one percentage point despite challenging market conditions.
• Order intake for Q1 2024 was down 13.6% to EUR 1,365 million, primarily due to a strong prior-year quarter and negative currency translation effects.
• Revenue decreased slightly by 2.3% to EUR 1,241 million, but adjusted for portfolio and currency translation effects, revenue rose by 2.7%.
• EBITDA before restructuring expenses increased by 5.1% to EUR 180.5 million, and the corresponding EBITDA margin increased by 1.0 percentage point to 14.5%.
• GEA's shareholders approved the Climate Transition Plan 2040 with a majority of 98.4%, making GEA the first member of the DAX index family to obtain shareholder approval for its path to net zero.
• GEA plans to begin the second tranche of its share buyback program in June 2024, after the completion of the first tranche. The total volume of the share buyback program is EUR 400 million.

The next important date, Quarterly report as of March 31, 2024, at GEA Group is on 08.05.2024.

The price of GEA Group at the time of the news was 37,24EUR and was down -0,05 % compared with the previous day.
16 minutes after the article was published, the price was 37,56EUR this corresponds to a plus of +0,86 % since publication.
At this time, the index MDAX was at 26.550,39PKT (-0,11 %).

GEA Group

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ISIN:DE0006602006WKN:660200

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