Ad-hoc release
GEA Group Aktiengesellschaft resolves share buyback
07 Nov 2023
The Executive Board of GEA Group Aktiengesellschaft resolved today that the Company will acquire own GEA shares with a value of up to EUR 400 million (not including ancillary acquisition costs) in the period from November 2023 to the beginning of 2025 via the stock exchange using the authorization granted by the Annual General Meeting on 27 April 2023.
The program is scheduled to start in November 2023 with a first tranche of up to EUR 150 million (not including ancillary acquisition costs) and to be completed within six months.
At the same time, the Executive Board, with the approval of the Supervisory Board, resolved that the shares to be newly acquired under the share buyback program as well as the 8,161,096 treasury shares currently held by the Company (corresponding to 4.52% of the capital stock) shall be cancelled without reducing the Company’s share capital. These shares were acquired as part of the 2021/2022 share buyback. The volume of the buyback at that time totaled around EUR 300.5 million.
The share buyback is to be carried out in accordance with the safe harbor provisions of Article 5 of the EU Market Abuse Regulation (Regulation (EU) No. 596/2014) in conjunction with the provisions of the Delegated Regulation of the EU Commission (Regulation (EU) 2016/1052). The Company will provide regular information on the progress of the share buyback program on its website www.gea.com.
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GEA Group Aktiengesellschaft
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About GEA
GEA 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. For instance, every second pharma separator for essential healthcare products such as vaccines or novel biopharmaceuticals is produced by GEA. In food, every fourth package of pasta or every third chicken nugget are processed with GEA technology.
With more than 18,000 employees, the group generated sales of about EUR 5.5 billion in more than 150 countries in the 2025 fiscal year. GEA plants, processes, components and services enhance the efficiency and sustainability of customers’ production. They contribute significantly to the reduction of CO2 emissions, plastic usage and food waste. In doing so, GEA makes a key contribution toward a sustainable future, in line with the company’s purpose: ”Engineering for a better world.”
GEA is listed on the German MDAX, the European STOXX® Europe 600 Index and is also a constituent of the leading sustainability indices DAX 50 ESG, MSCI Global Sustainability and Dow Jones Best-in-Class World.
