Corporate press release
GEA raises outlook for fiscal year 2021 and publishes preliminary figures for the second quarter
29 Jul 2021
As a result of a very good performance to date in the first half of 2021 and increasingly effective efficiency measures, GEA Group AG is raising its current outlook for fiscal year 2021.
The Group now expects organic revenue growth of 5 to 7 percent, compared with 0 to 5 percent previously. EBITDA before restructuring expenses at constant exchange rates is now expected to be in a range between EUR 600 and 630 million. Previously, this figure was expected to be between EUR 530 million and EUR 580 million. For return on capital employed (ROCE) at constant exchange rates, the new expectation is 23 to 26 percent instead of the previous 16 to 20 percent. These figures mean that the new forecast is above the current market expectations of financial analysts. In this new forecast, GEA assumes that there will no longer be any severe restrictions on economic activity in the second half of 2021 due to measures to combat the Covid-19 pandemic.
| Fiscal Year 2021 | ||
| Fiscal Year 2020 | Initial Guidance | Updated Guidance |
|---|---|---|---|
Organic growth of revenue | -2.6% | 0 – 5% | 5 – 7% |
EBITDA1 | EUR 532 million | EUR 530 – 580 million | EUR 600 – 630 million |
EBITDA1-margin | 11.5% | 11.4 – 12.2% | 12.4 – 13.0% |
ROCE1,2 | 17.1% | 16 – 20% | 23 – 26% |
1 before restructuring expenses
2 at constant FX
"GEA performed excellently in the first half of the year due to its very good market position and the increasing success of the ongoing efficiency program. Demand for our components, plants, and services continues to grow," commented Stefan Klebert, CEO of GEA Group AG. "Our appreciation goes to our global workforce, who, despite continued difficult working conditions in some areas, are ensuring customer satisfaction and at the same time the consistent implementation of our projects."
Following a strong first quarter of 2021, key financial indicators continued to develop very well in the second quarter based on preliminary figures. Order intake increased significantly by 25.1 percent to EUR 1,294 million. Organic growth was as high as 30.2 percent. Revenue decreased slightly by 0.8 percent to EUR 1,156 million. Organically, however, revenue increased by 3.4 percent. EBITDA before restructuring expenses increased by 9.4 percent to EUR 153.7 million. ROCE increased significantly to 21.7 percent (previous year: 14.8 percent).
GEA will publish its full half-year report 2021 as planned on August 13, 2021.
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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.
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.
