GEA : continues positive performance in second quarter 2022

EBITDA before restructuring expenses increased by 9 percent to EUR 167.4 million in the second quarter (Q2 2021: EUR 153.7 million). The corresponding EBITDA margin remains at a high level of 13.2 percent (Q2 2021: 13.3 percent), despite the negative impact of the global supply chain issues and the war in Ukraine. The increase in gross profit more than compensated for the offsetting effects resulting from divestments as well as higher travel and personnel expenses.

At EUR 76.7 million, profit for the period remained at the prior-year level (Q2 2021: EUR 76.9 million). The positive operating performance was impacted notably by higher restructuring expenses of around EUR 20 million related to the optimization of production sites. Earnings per share therefore remained unchanged at EUR 0.43. Before restructuring expenses, however, earnings per share were up on the prior-year figure of EUR 0.48, at EUR 0.53.

Net liquidity improved to EUR 263.7 million as of June 30, 2022, compared with EUR 202.8 million in the prior-year period. This increase was due in particular to the significant improvement in earnings. Net working capital as a percentage of revenue amounted to 7.9 percent compared with 8.3 percent in the previous year. Return on capital employed (ROCE) climbed to 29.7 percent from to 21.4 percent in the previous year. All divisions contributed to this development, with some recording significant growth in ROCE.