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MULTIVAC celebrated its 60th anniversary in 2022
GEA continues positive performance in second quarter 2022
According to CEO Stefan Klebert: “Thanks to a solid performance in the second quarter, GEA is on track for continued profitable growth. In addition, we implemented appropriate measures at an early stage to prepare GEA for the uncertain economic situation. We therefore confirm our outlook for 2022.”
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GEA’s positive performance at the beginning of the year continued in the second quarter, with further improvement in its key financial indicators.
Order intake rose by 8.5 percent to EUR 1.40 billion. Revenue climbed by 10 percent to EUR 1.27 billion. All divisions contributed to the organic revenue growth of 8.9 percent. EBITDA before restructuring expenses grew by 9 percent to EUR 167 million. The corresponding EBITDA margin remains at a high level of 13.2 percent despite the negative impact of the global supply chain issues and the war in Ukraine. Return on capital employed (ROCE) climbed to 29.7 percent while net working capital as a percentage of revenue improved to 7.9 percent and net liquidity rose significantly to EUR 264 million.
First half of 2022 at a glance
In the first six months of the current fiscal year, order intake rose by a significant 14.4 percent (organic: 13.5 percent) to EUR 2,947 million (previous year: EUR 2,576 million). Revenue rose by 7.9 percent in the first half of the year (organic: 7.8 percent) to EUR 2,397 million (previous year: EUR 2,221 million). The service business accounted for 35.4 percent of total revenue (previous year: 34.5 percent). EBITDA before restructuring expenses improved by 11.2 percent to EUR 305.7 million (previous year: EUR 274.8 million). The corresponding EBITDA margin improved by 0.4 percentage points to 12.8 percent (previous year: 12.4 percent). Profit for the period rose by 11.4 percent to EUR 148.9 million in the first half of the year (previous year: EUR 133.6 million). Earnings per share rose accordingly from EUR 0.74 to EUR 0.84.
Outlook for 2022 confirmed
GEA has confirmed its outlook for fiscal year 2022. Revenue is forecast to grow on an organic basis by more than 5 percent. EBITDA before restructuring expenses at constant exchange rates is expected to be in a range between EUR 630 million and 690 million. For ROCE, the company anticipates a figure between 24 and 30 percent (at constant exchange rates).
