GEA (dpa-AFX) - GEA Group AG (GEAGF.PK, GEAGY.PK), a German food corporation, on Friday registered an increase in preliminary EBITDA, before restructuring for the third quarter, despite a decline in sales.
Stefan Klebert, CEO of GEA Group, said: 'Order intake was particularly encouraging, driven by strong base business. We will implement our recently published Mission 30 strategy step by step, thereby further increasing the group's profitability.'
For three-month period, the Group registered EBITDA, before restructuring of 217 million euros, higher than 207 million euros, recorded for the same period last year.
Order intake improved to 1.301 billion euros, as against prior year's 1.247 billion euros. Sales stood at 1.350 billion euros, compared with 1.351 billion euros in 2023.
Citing the positive third quarter operating performance, the Group has revised up its annual EBITDA margin, before restructuring expenses to a range of 15.4 to 15.6 percent from the previous range of 14.9 percent to 15.2 percent.
The company also confirmed its organic revenue growth outlook of 2 percent to 4 percent, for the year.
GEA will release its third quarter earnings report on November 6.
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