GEA Group Q3 Net Income Rises; Confirms Outlook

GEA Group AG (GEAGF.PK,GEAGY.PK) said it continued the positive trend from the first half of the year through the third quarter with all divisions contributing with their operational performance. Looking forward, the company confirmed its outlook for fiscal 2021.

Third quarter profit increased some 87 percent to 81.1 million euros from 43.4 million euros, prior year. Earnings per share was 0.45 euros compared to 0.24 euros. EBITDA before restructuring expenses increased by 16.9 percent to 169.9 million euros. EBITDA margin improved significantly by 1.5 percentage points to 14.2 percent. Earnings per share before restructuring expenses was 0.48 euros compared to 0.37 euros.

Revenue increased by 4.7 percent to 1.20 billion euros from 1.15 billion euros, and by 6.0 percent on an organic basis. Order intake increased by 27.9 percent to 1.35 billion euros. In organic terms, order intake rose 29.6 percent.

GEA has confirmed fiscal 2021 outlook. Revenue is anticipated to grow on an organic basis from 5.0 to 7.0 percent. EBITDA before restructuring expenses at constant exchange rates will be in a range between 600 million euros and 630 million euros.

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