GEA raises outlook for 2023 following strong first quarter

GEA has raised its outlook for fiscal year 2023 following a strong first quarter. Revenue is now forecast to grow on an organic basis by more than 8.0 percent (previously: more than 5.0 percent). EBITDA before restructuring expenses at constant exchange rates is expected to be at the upper part of the range between EUR 730 million and 790 million (previously: range between EUR 730 million and 790 million). At the same time, GEA aims to further increase the EBITDA margin before restructuring expenses to at least 14.0 percent (previously: more than 13.8 percent). GEA now expects ROCE to be more than 32.0 percent at constant exchange rates (previously: at least 29.0 percent).