GEA Group Aktiengesellschaft: GEA raises outlook for fiscal year 2021 and publishes preliminary figures for the second quarter 2021

GEA is raising its outlook for sales, EBITDA before restructuring measures and return on capital employed (ROCE) for fiscal year 2021 as a result of a very good performance in the first half 2021 and increasingly effective efficiency measures. The new outlook exceeds the previously provided outlook as well as current capital market expectations (average values of the latest consensus estimates of financial analysts, published by Vara Research on July 29, 2021).

GEA adjusts its forecast for fiscal year 2021 as follows:

- Sales is now expected to grow organically (adjusted for foreign exchange effects and acquisitions/divestments) by 5 to 7 percent (previously: 0-5%).

- EBITDA before restructuring measures (based on constant currencies) is now expected to be in a range of EUR 600 to 630 million (previously: Euro 530 to 580 million; consensus EUR 572 million)

- ROCE (based on constant currencies) is now expected to be in the range of 23 to 26 percent (previously: 16 to 20 percent).

GEA's outlook assumes that there will be no severe restrictions on economic activity due to measures to combat the Covid-19 pandemic in the second half of 2021.

In the second quarter 2021 relevant preliminary financial figures developed as followed:

- Order intake increased significantly by 25.1 percent to EUR 1,294 million (organic growth: 30.2 percent; consensus: Euro 1,227 million).

- Sales declined slightly by 0.8 percent to EUR 1,156 million (organic growth: 3.4 percent; consensus: EUR 1,179 million).

- EBITDA before restructuring measures improved by 9.4 percent to Euro 153.7 million (consensus: EUR 145.6 million)

- ROCE increased significantly to 21.7 percent (prior year period: 14.8 percent).

The complete half-year financial report 2021 will be published on August 13, 2021.