GEA performance 2023
“In the face of the numerous challenges in fiscal year 2023, we managed to further improve our key financial figures. This is yet again testament to our strength and resilience,” says CEO Stefan Klebert. “We would not have achieved these results without our employees, whose extraordinary commitment is crucial to our success. I would like to thank each and every one of them for their vital contribution.”
Key financial figures
The 2023 financial year was again a year of major global challenges. The wars in Ukraine and the Middle East, a difficult economic situation with high inflation rates and rising interest rates weighed on industry and the economy. Nevertheless, GEA succeeded in further improving its key performance indicators and once again holding its own in a difficult environment.
Financial key figures of GEA
| 2023 | 2022 | Change in % | |
|---|---|---|---|
Order intake | 5,469.4 | 5,678.9 | -3.7 |
Book-to-bill ratio | 1.02 | 1.10 | - |
Order backlog | 3,116.6 | 3,192.7 | -2.4 |
Revenue | 5,373.5 | 5,164.7 | 4.0 |
Organic revenue growth1 | 8.4 | 8.9 | -59 bps |
Share of service revenue in % | 36.1 | 34.9 | 127 bps |
EBITDA before restructuring expenses | 774.3 | 712.0 | 8.7 |
as % of revenue | 14.4 | 13.8 | 62 bps |
EBITDA | 713.8 | 654 | 9.1 |
EBIT before restructuring expenses | 580.6 | 529.1 | 9.7 |
EBIT | 519.7 | 461 | 12.7 |
Profit for the period | 392.8 | 401.4 | -2.1 |
ROCE in %2 | 32,7 | 31,8 | 93 bps |
1) Adjusted for portfolio and currency translation effects.
| |||
| 2023 | 2022 | Change in % | |
|---|---|---|---|
Cash flow from operating activities | 529.4 | 471.6 | 12.3 |
Cash flow from investing activities | -198.2 | –175.8 | -12.8 |
Free cash flow | 331.2 | 295.8 | 12.0 |
| 2023 | 2022 | Change in % | |
|---|---|---|---|
Net working capital (reporting date) | 345.9 | 314.1 | 10.1 |
as % of revenue (LTM) | 6.4 | 6.1 | 36 bps |
Capital employed (reporting date)3 | 1,673.1 | 1,590.1 | 5.2 |
Equity | 2,397.7 | 2,280.9 | 5.1 |
Equity ratio in % | 40.3 | 38.5 | 175 bps |
Net liquidity (+)/Net debt (-)4 | 371.2 | 346.4 | 7.2 |
| 2023 | 2022 | Change in % | |
|---|---|---|---|
Earnings per share (EUR) | 2.28 | 2.28 | -0.1 |
Earnings per share before restructuring expenses (EUR) | 2.56 | 2.58 | -1.0 |
Market capitalization (EUR billion; reporting date)5 | 6.5 | 6.9 | –5.8 |
Employees (FTE; reporting date) | 18,773 | 18,236 | 2.9 |
Total workforce (FTE; reporting date) | 19,562 | 19,255 | 1.6 |
1) Adjusted for portfolio and currency translation effects.
2) EBIT before restructuring expenses of the last 12 months. Capital employed average of the last 4 quarters and excluding goodwill from the acquisition of the former GEA AG by former Metallgesellschaft AG in 1999.
3) Capital employed excluding goodwill from the acquisition of the former GEA AG by former Metallgesellschaft AG in 1999.
4) Including lease liabilities of EUR 154.8 million as of December 31, 2023 (prior year EUR 165.2 million).
5) The market capitalization includes treasury shares. XETRA closing price as of December 29, 2023: EUR 37.69; XETRA closing price as of December 30, 2022: EUR 38.20
2) EBIT before restructuring expenses of the last 12 months. Capital employed average of the last 4 quarters and excluding goodwill from the acquisition of the former GEA AG by former Metallgesellschaft AG in 1999.
3) Capital employed excluding goodwill from the acquisition of the former GEA AG by former Metallgesellschaft AG in 1999.
4) Including lease liabilities of EUR 154.8 million as of December 31, 2023 (prior year EUR 165.2 million).
5) The market capitalization includes treasury shares. XETRA closing price as of December 29, 2023: EUR 37.69; XETRA closing price as of December 30, 2022: EUR 38.20
GEA‘s Annual Report 2023
In an environment marked by geopolitical uncertainty, rising interest rates and negative exchange rate developments, GEA’s business has continued to perform well, with a further improvement in its key financial figures and another dividend increase proposed.
Report
Sustainability Report 2023
GEA informs its investors, customers, employees as well as non-governmental organizations (NGOs) and all other stakeholders on the implementation of sustainability in the company’s strategy regarding ecology and social responsibility in its latest sustainability report.
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Annual Report 2023
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Sustainability Report 2023
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Analyst Conference Call presentation
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Analyst Conference Call FY 2023 - transcript
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Corporate Governance Statement
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Annual Financial Statements of GEA Group Aktiengesellschaft for Fiscal Year 2023 (HGB)
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GEA at a glance - company presentation
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Historical Division KPI since Q1 2017
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Press release Annual Report 2023
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Remuneration Report 2023
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Präsentation Medien-Call Geschäftsergebnisse 2023 (only in German)
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Roadshow presentation FY 2023
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Factsheet 2024
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