GEA Group Increases 2024 Earnings Forecast After Strong Q3

GEA Group Aktiengesellschaft has once again raised its earnings forecast for fiscal year 2024 following a robust performance in the third quarter. The company now anticipates an EBITDA margin before restructuring expenses of 15.4 to 15.6 percent, up from the previous estimate of 14.9 to 15.2 percent. This adjustment stems from strong results in the first nine months of the year, particularly driven by a healthy order intake and steady base business.

GEA maintains its organic revenue growth forecast at 2.0 to 4.0 percent and its return on capital employed (ROCE) between 32 to 35 percent. CEO Stefan Klebert expressed optimism, citing the positive response to the company's Mission 30 strategy aimed at enhancing profitability. The full financial report for the third quarter will be available on November 6, 2024.