GEA second quarter figures
Double-digit growth in order intake and revenue, with significantly higher profitability
Corporate press release - Aug 10, 2026
- Order intake increased by 14.2 percent to EUR 1,495 million (Q2 2025: EUR 1,309 million); organic growth of 15.4 percent
- Revenue grew by 10.0 percent to EUR 1,442 million (Q2 2025: EUR 1,312 million); organic revenue growth of 11.0 percent
- EBITDA before restructuring expenses increased by 15.6 percent to EUR 251 million (Q2 2025: EUR 217 million); EBITDA margin before restructuring expenses improved significantly to 17.4 percent (Q2 2025: 16.5 percent)
- Return on capital employed (ROCE) further increased to 36.8 percent (Q2 2025: 35.3 percent)
- Free cash flow rose significantly to EUR 151 million, reaching highest level for a second quarter since 2020 (Q2 2025: EUR 38 million); net liquidity at EUR 71 million (Q2 2025: net debt of EUR 60 million)
- 2026 guidance raised: organic revenue growth of 6.0 to 8.0 percent (previously 5.0 to 7.0 percent), EBITDA margin before restructuring expenses of 17.0 to 17.4 percent (previously 16.6 to 17.2 percent), and ROCE of 36.0 to 40.0 percent (previously 34.0 to 38.0 percent)
GEA continued to make progress in implementing its Mission 30 strategy during the second quarter of 2026. The company significantly accelerated its growth momentum while simultaneously delivering a substantial increase in profitability. GEA improved all key financial performance metrics and raised its guidance for the full year.
“Our second quarter was, once again, very strong. We achieved double-digit growth in both order intake and revenue. This went hand in hand with higher profitability. In the current environment, only very few industrial technology companies can achieve that,” said CEO Stefan Klebert. “GEA has excellent future prospects. We are underscoring this with our recently raised outlook, our new share buyback program and our highly acclaimed sustainability agenda.”
Double-digit growth in order intake and revenue
Order intake in the second quarter of 2026 increased by 14.2 percent to EUR 1,494.7 million (Q2 2025: EUR 1,309.1 million). On an organic basis, it grew by 15.4 percent. Demand was particularly strong in the customer industries dairy farming, dairy processing and food. Revenue increased by 10.0 percent to EUR 1,442.5 million (Q2 2025: EUR 1,311.8 million); on an organic basis, revenues grew by 11.0 percent. All four divisions meaningfully contributed to revenue growth. The service business continued its positive development, with service revenue increasing by 8.5 percent to EUR 570.6 million (Q2 2025: EUR 526.0 million) and accounting for 39.6 percent of Group revenue.
Profitability, return, and liquidity metrics once again improved
EBITDA before restructuring expenses rose by 15.6 percent to EUR 250.6 million (Q2 2025: EUR 216.7 million). The corresponding EBITDA margin improved significantly to 17.4 percent from 16.5 percent in the prior-year quarter. Profit for the period increased by 13.8 percent to EUR 121.8 million (Q2 2025: EUR 107.0 million). Earnings per share before restructuring expenses rose to EUR 0.79 (Q2 2025: EUR 0.69), while earnings per share increased to EUR 0.75 (Q2 2025: EUR 0.66).
As of the June 30, 2026, reporting date, GEA reported net liquidity of EUR 70.9 million, compared with net debt of EUR 59.8 million on the prior-year reporting date. The significantly improved financial position mainly reflects the strong free cash flow generated in the second quarter. Free cash flow increased substantially to EUR 151.1 million from EUR 38.0 million in the prior-year quarter, representing GEA’s highest free cash flow for a second quarter since 2020.
Net working capital as a share of revenue improved further to 7.0 percent, placing it at the lower end of the target range of 7.0 to 9.0 percent (June 30, 2025: 7.8 percent). Return on Capital Employed (ROCE) rose further to 36.8 percent (Q2 2025: 35.3 percent).
Profitable growth also on a half-year basis
At EUR 2,949.0 million, order intake in the first half of 2026 was 8.3 percent above the prior-year figure of EUR 2,724.0 million. Revenue increased by 5.7 percent to EUR 2,715.6 million (H1 2025: EUR 2,570.2 million) and grew organically by 8.2 percent. The service share of revenue amounted to 40.3 percent (H1 2025: 40.9 percent).
EBITDA before restructuring expenses increased by 10.0 percent to EUR 456.5 million (H1 2025: EUR 415.0 million). The corresponding EBITDA margin improved to 16.8 percent (H1 2025: 16.1 percent). Profit for the period improved by 10.0 percent to EUR 221.5 million (H1 2025: EUR 201.4 million). Earnings per share before restructuring expenses increased to EUR 1.43 (H1 2025: EUR 1.32); earnings per share increased to EUR 1.36 (H1 2025: EUR 1.23).
Sustainability leadership confirmed in TIME Magazine ranking
In the “World’s Most Sustainable Companies 2026” ranking by TIME Magazine and Statista, GEA was recognized for the first time as Germany’s most sustainable company. GEA also achieved a top positioning on a global scale, where the company ranked 17th amongst all 750 finalists. The ranking confirms the company’s rapid progress in implementing its climate and sustainability targets. GEA had previously achieved its intermediate climate targets for the reduction of Scope 1 and Scope 2 greenhouse gas emissions one year ahead of schedule.
New share buyback program underscores confidence in long-term value creation potential
At the beginning of August, the Executive Board approved a new share buyback program with a total volume of up to EUR 500 million. With this move, management underscores its confidence in the company’s attractive growth prospects. The first tranche of up to EUR 250 million will commence in August 2026. The program once again includes an ESG component: a portion of the gains due to the price advantage achieved by repurchasing shares below the average market price over the course of the program ('outperformance') will be donated to the Deutsche Universitätsstiftung.
Increased outlook for full year 2026
At the end of July, GEA raised its guidance for fiscal year 2026 in light of its strong operating performance. The company now expects organic revenue growth of 6.0 to 8.0 percent (previously 5.0 to 7.0 percent). The EBITDA margin before restructuring expenses is expected to be between 17.0 and 17.4 percent (previously 16.6 to 17.2 percent). GEA now expects ROCE in the range of 36.0 to 40.0 percent (previously 34.0 to 38.0 percent).
GEA Financial Figures Q2 and H1
| (EUR million) | Q2 20261 | Q2 20251 | Change in % | H1 2026 | H1 2025 | Change in % |
|---|---|---|---|---|---|---|
|
Results of operations |
||||||
| Order intake | 1,494.7 | 1,309.1 | 14.2 |
2,949.0 |
2,724.0 |
8.3 |
| Book-to-bill ratio | 1.04 |
1.00 |
- | 1.09 | 1.06 | - |
| Order backlog | 3,540.4 | 3,131.4 | 13.1 | 3,540.4 | 3,131.4 | 13.1 |
| Revenue | 1,442.5 | 1,311.8 | 10.0 | 2,715.6 | 2,570.2 | 5.7 |
| Organic revenue growth (%)2 | 11.0 |
1.5 | 956 bp | 8.2 | 1.2 | 707 bp |
| Share of service revenue (%) | 39.6 | 40.1 | -54 bp | 40.3 | 40.9 | -54 bp |
| EBITDA before restructuring | 250.6 | 216.7 | 15.6 | 456.5 | 415.0 | 10.0 |
| as% of revenue | 17.4 | 16.5 | 85 bp | 16.8 | 16.1 | 66 bp |
| EBITDA | 240.6 | 207.9 | 15.7 | 441.1 | 398.8 | 10.6 |
| EBITA before restructuring expenses | 211.9 | 179.0 | 18.4 | 380.1 | 342.6 | 11.0 |
| EBITA | 201.9 | 170.1 | 18.7 | 364.7 | 326.4 | 11.7 |
| EBIT before restructuring expenses | 196.7 | 162.9 | 20.8 | 349.0 | 312.6 | 11.7 |
| EBIT | 186.7 | 154.0 | 21.2 | 333.7 | 294.3 | 13.4 |
| Profit for the period | 121.8 | 107.0 | 13.8 | 221.5 | 201.4 | 10.0 |
| ROCE (%) | 36.8 | 35.3 | 148 bp | 36.8 | 35.3 | 148 bp |
|
Financial Position |
||||||
| Cash flow from operating activities | 185.0 | 82.4 | >100 | 60.3 | 64.6 | -6.6 |
| Cash flow from investing activities | -33.9 | -44.4 | 23.6 | -99.5 | -75.4 | -32.0 |
| Free cash flow | 151.1 | 38.0 | >100 | -39.2 | -10.8 | <-100 |
|
Net Assets |
||||||
| Net working capital (reporting date) | 395.7 | 422.2 | -6.3 | 395.7 | 422.2 | -6.3 |
| as % of revenue (LTM) | 7.0 | 7.8 | -76 bp | 7.0 | 7.8 | -76 bp |
| Capital employed (reporting date)3 | 2,086.3 | 1,952.4 | 6.9 | 2,086.3 | 1,952.4 | 6.9 |
| Equity | 2,503.0 | 2,233.5 | 12.1 | 2,503.0 | 2,233.5 | 12.1 |
| Equity ratio in % | 41.2 | 39.7 | 147 bp | 41.2 | 39.7 | 147 bp |
| Net liquidity (+)/Net debt (-)4 | 70.9 | -59.8 | – | 70.9 | -59.8 | – |
|
GEA Shares |
||||||
| Earnings per share (EUR) | 0.75 | 0.66 | 13.8 | 1.36 | 1.23 | 10.5 |
| Earnings per share before restructuring expenses (EUR) | 0.79 | 0.69 | 15.5 | 1.43 | 1.32 | 8.7 |
| Market capitalization (EUR billion; reporting date)5 | 9.8 | 9.7 | 1.1 | 9.8 | 9.7 | 1.1 |
| Employees (FTE; reporting date) | 18,894 | 18,323 | 3.1 | 18,894 | 18,323 | 3.1 |
| Total workforce (FTE; reporting date) | 19,804 | 19,153 | 3.4 | 19,804 | 19,153 | 3.4 |
1) Additional information: not subject to external audit review.
2) Adjusted for portfolio and currency translation effects.
3) Since April 1, 2026, certain employee-related provisions and liabilities have no longer been allocated to the operating segments but are allocated in the "Other/Consolidation” segment. Prior-year figures have been adjusted accordingly.
4) Including lease liabilities of EUR 261.0 million as of June 30, 2026 (June 30, 2025: EUR 213.4 million).
5) XETRA closing price as of June 30, 2026: EUR 60.05; XETRA closing price as of June 30, 2025: EUR 59.40.
Matthias Schnettler
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 DAX, 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.
