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GEA Group Posts FY20 Profit; Revenue Down 5%

Food and beverages company GEA Group (GEAGF.PK,GEAGY.PK) Thursday reported a profit for the full year 2020, despite a 5 percent downslide in revenue. The Group proposed a stable dividend of 0.85 euros per share for the year and said it expects higher revenues and earnings for the next year.

For the year 2020, the Group's net profit totaled 96.8 million euros, compared to a net loss of 170.7 million euros last year. EBIT before restructuring measure rose by 22.1 percent to 331.4 million euros.

The Group's revenue for the year declined by 5 percent to 4.63 billion, and order intake during the year slid by 4.6 percent to 4.70 billion euros.

Looking ahead to the fiscal 2021, GEA said it expects slight organic growth in revenue and EBITDA before restructuring measures between 530 million and 580 million euros.

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