The following is a summary of the GEA Group Aktiengesellschaft (GEAGF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• GEA Group reported a Q1 order decrease of 9.7% organically and 13.6% reported, due to negative currency translation effects.

• Despite lower orders, the company experienced an organic sales rise by 2.7%, anticipating a 2024 organic sales growth of 2-4%.

• EBITDA before restructuring expenses saw a 5.1% yearly increase, reaching €181 million.

• Both return on capital employed and net liquidity saw decreases, with the latter being impacted by the share buyback program.

Business Progress:

• GEA is proceeding with its share buyback program, having already spent €135 million euros to buy back 3.8 million shares.

• The company secured overwhelming shareholder agreement for its path to becoming a zero-emission entity by 2040.

• Despite high interest rates, negative foreign exchange development, and geopolitical uncertainties, GEA expects 2024 revenue growth.

• Notably, GEA has acknowledged and addressed issues within FHT, leading to margin improvements; an indication of increased order intake and more new projects in the pipeline suggests potential future revenue streams.

More details: GEA GROUP AG IR

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