GEA Group (G1A) Q4 2025 earnings summary

Executive summary

• Achieved record financial results in 2025, surpassing raised targets, with all divisions contributing to increased order intake and revenue.

• Secured one of the largest single orders in company history for a major dairy project in Algeria and entered the DAX index.

• Recognized among the world's most sustainable companies, achieving short-term climate targets ahead of schedule, including a 62% reduction in Scope 1 & 2 emissions from 2019.

• Advanced all Mission 30 strategic growth drivers and streamlined organizational structure with a new Executive Board.

• Significant progress in Scope 3 emissions, with a 38% reduction and improved sustainability rankings.

Financial highlights

• Order intake rose to €5.924 billion (+6.7% YoY, +9.1% organic); sales reached €5.5 billion (+1.4% YoY, +3.7% organic), with all divisions contributing.

• EBITDA before restructuring expenses increased 8.4% to €907 million; margin improved to 16.5%.

• Return on capital employed rose to 36.2% (+2.4pp YoY); proposed dividend increase to €1.30 per share (+13%).

• Free cash flow for the year at €512 million, with a record €470 million in Q4; net cash position of €379 million at year-end.

• Net working capital to sales ratio at a record low of 3.2%; cash conversion ratio at 59%.

Outlook and guidance

• 2026 guidance: organic sales/revenue growth of 5%-7%, EBITDA margin of 16.6%-17.2%, and ROCE of 34%-38%.

• Over 80% of €3.3 billion order backlog expected to convert to sales in 2026.

• Service business expected to continue outpacing new equipment growth.

• Key priorities include accelerating organic growth, improving profitability, driving COGS reduction, and advancing climate strategy.