GEA achieved solid financial growth in 2024, surpassing its 2026 financial targets two years early. The company increased its EBITDA margin guidance twice throughout the year and reported gains in order intake, revenue, and profitability. In recognition of employees’ contributions, GEA is granting a special bonus, while shareholders will receive a proposed dividend increase of EUR 1.15 per share.
Financial Performance Overview
GEA’s order intake rose by 1.5% to EUR 5,553 billion (2023: EUR 5,469 billion), with organic growth at 4.6%. Revenue increased by 0.9% to EUR 5,422 billion (2023: EUR 5,373 billion), reflecting an organic growth rate of 3.7%. EBITDA before restructuring expenses climbed 8.1% to EUR 837 million (2023: EUR 774 million), raising the EBITDA margin to 15.4% (2023: 14.4%). Return on capital employed (ROCE) improved to 33.8% (2023: 32.7%).
Net working capital remained low at 6.0% of revenue, outperforming the target range of 8.0 to 10.0%. Free cash flow surged by 49.9% to EUR 504.8 million (2023: EUR 336.9 million), despite share buyback payments of EUR 230.5 million.
CEO Stefan Klebert highlighted GEA’s strong business performance:
“2024 was a strong year for GEA. Not only did we grow the business yet again – we also continued to drive our profitability. This goes to show that our innovative strength and clear focus on sustainable technologies are valuable competitive advantages.”
Growth Drivers and Market Trends
GEA’s performance was supported by strong order volumes, with 14 large orders exceeding EUR 15 million each, totaling EUR 437.2 million. The service business also expanded across all divisions, contributing 38.9% of total revenue (2023: 36.1%). Growth was particularly strong in the Dairy Processing, Food, and Pharma industries. Regionally, Asia-Pacific and North America led in revenue gains.
Segment-wise, Separation & Flow Technologies, Farm Technologies, and Heating & Refrigeration Technologies contributed the most to organic revenue growth. GEA’s improved profitability stemmed from expanding the high-margin service business and optimizing margins in new machinery sales.
CEO Stefan Klebert acknowledged employee efforts:
“The successful track record of GEA is driven by its fantastic teams all over the world. Their commitment and expertise have enabled us to achieve our Mission 26 financial targets two years ahead of schedule.”
2025 Outlook and Mission 30 Strategy
GEA expects continued profitable growth in 2025, forecasting organic revenue growth of 1.0% to 4.0%. The company anticipates an EBITDA margin between 15.6% and 16.0% and ROCE between 30.0% and 35.0%.
Looking ahead, GEA has set new mid-term targets under its Mission 30 strategy, aiming for average organic sales growth above 5%, an EBITDA margin of 17% to 19%, and ROCE exceeding 45% by 2030. Starting in 2027, EBITDA margin and ROCE will no longer be adjusted for restructuring expenses.
