Dairy key driver for GEA profits in 2024

GEA, the technology group focused on mechanical and plant engineering, announced an improvement in order intake and revenue for 2024, despite navigating a challenging economic climate. Key growth sectors included dairy processing, food, and pharma, with strong performance in the Asia-Pacific and North America regions. Revenue saw a year-on-year increase of 0.9% to €5,422.1 billion, with a significant organic growth contribution coming from separation & flow technologies, farm technologies, and heating & refrigeration technologies.

The company also surpassed its 2026 financial targets earlier than planned, as EBITDA margins improved, prompting a dividend increase for shareholders and a special bonus for all employees. CEO Stefan Klebert remarked on the achievements, highlighting the company's innovative strength and sustainable technology focus as essential competitive advantages.

Despite broader industry trends, GEA succeeded in enhancing key financial metrics, notably increasing order intake by 1.5% to €5.5 billion, driven in part by large order volumes and an expanded service business across all divisions. The service sector's contribution to total revenue grew to 38.9% as of the reporting period.