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GEA Group Q1 Profit Increases; Confirms FY Outlook

GEA Group (GEAGF.PK,GEAGY.PK) reported that its first quarter profit increased 27.2 percent to 72.2 million euros from the prior year's 56.7 million euros. Earnings per share rose to 0.41 euros from 0.31 euros in the previous year.

Earnings per share, before restructuring expenses, were 0.43 euros, compared to 0.39 euros in the prior-year quarter.

Revenue for the quarter rose 5.7 percent year-over-year to 1.13 billion euros and by 6.6 percent on an organic basis.

Order intake rose significantly by 20.4 percent to 1.54 billion euros.

GEA has confirmed its outlook for fiscal year 2022. Revenue is forecast to grow on an organic basis by more than 5.0 percent. EBITDA before restructuring expenses at constant exchange rates is expected to be in a range between 630 million euros and 690 million euros.

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