substantially in an economically challenging environment, achieved key climate goals ahead of
schedule and further improved profitability. And we have entered the DAX, Germany’s premier market
index. All of this, we achieved on our own strength,” said GEA CEO Stefan Klebert. “This year, we will
accelerate our growth trajectory. The strong order backlog, our more agile and flexible organization,
and the global demand for our sustainable systems and processes are key growth drivers.”
Strong increase in order intake
The technology group improved all financial key performance indicators. Order intake was up 6.7
percent to EUR 5.9 billion (2024: EUR 5.6 billion). On an organic basis – adjusted for portfolio and
currency translation effects – growth was a strong 9.1 percent. This was largely due to higher
volumes of large orders (orders > EUR 15 million). All in all, GEA won 15 major contracts worth a
total of EUR 560.6 million (2024: EUR 437.2 million). The highly profitable service business also
expanded, accounting for 40.0 percent of GEA’s total revenue as of the reporting date (2024: 38.9 percent). Regarding customer industries, the main growth drivers were dairy processing, food and pharma. GEA generated approximately half of its revenue in Europe, with North America and Asia-Pacific contributing around 20 percent each.
Revenue increased by 1.4 percent year on year to EUR 5.5 billion (2024: EUR 5.4 billion). Organic growth came to 3.7 percent and resulted primarily from growth in the divisions Food & Healthcare Technologies, Heating & Refrigeration Technologies and Separation & Flow Technologies.
Financial position further strengthened; dividend increase proposed
EBITDA before restructuring expenses rose by 8.4 percent year on year to EUR 907.4 million (2024: EUR 837.3 million). The EBITDA margin before restructuring expenses improved once again, this time by more than one percentage point to reach 16.5 percent (2024: 15.4 percent). GEA succeeded in enhancing return on capital employed (ROCE) to 36.2 percent from last year’s already high level (2024: 33.8 percent). Net working capital amounted to 3.2 percent of revenue at the year-end (2024: 6.0 percent). Accordingly, GEA likewise improved free cash flow, which came to EUR 511.8 million in the past fiscal year (2024: EUR 504.8 million). Net cash increased by 10 percent to EUR 378.9 million (2024: EUR 343.5 million). Cash conversion was similarly strong, with 59 percent of EBITDA before restructuring expenses converted into free cash flow.
At the upcoming Annual General Meeting on April 29, 2026, the Executive Board and Supervisory Board will jointly propose a further dividend increase of 15 cents to EUR 1.30 per share (2024: EUR 1.15 per share).
Progress on all Mission 30 growth drivers
In its Mission 30, GEA defined six strategic growth drivers. In 2025, the Group made progress in all of these areas.
Sustainability: Sustainable technologies now already account for over 45 percent of revenue, with a target of 60 percent by 2030.
New Food: The highly innovative business with alternative proteins generated revenue of around EUR 70 million and has been further strengthened in terms of capabilities
Digitalization: Revenue generated by digital solutions increased to around EUR 80 million, thus moving further toward the 2030 target of over EUR 200 million.
Service: The service business contributed EUR 2.2 billion to overall revenue and is targeted to reach EUR 2.9 billion by 2030. It now accounts for 40 percent of total revenue.
Innovation: Additionally, the vitality index – the share of revenue generated with solutions less than five years old – increased to nearly 20 percent, with a target of 30 percent by 2030.
Above-average growing verticals: Order intake in innovative technologies with above-average growth (such as GEA Nexus) surged considerably by 30 percent.
Significant progress on sustainability strategy
GEA also advanced in implementing its sustainability strategy. The company achieved key interim targets in its climate strategy early, reducing Scope 1 and 2 greenhouse gas emissions by 62 percent compared to 2019 by the end of 2025 – a year ahead of schedule, with a 60 percent reduction initially planned for the end of 2026. GEA is also well on target in reducing Scope 3 greenhouse gas emissions, which by the end of the fiscal year were down 38 percent on the 2019 figure. This means GEA is on track to achieve its target of net-zero emissions by 2040.
GEA follows an integrated sustainability strategy that focuses on both climate targets and social engagement. The company has committed to donating one percent of net profit each year to charitable causes through the GEA Foundation. In the past fiscal year, the Foundation donated over EUR 4 million. Its focus areas are on promoting education in STEM subjects, access to clean water and sustainable energy, combating child poverty and providing emergency disaster relief.
Stefan Klebert: “At GEA, we believe responsibility means more than just conserving resources. We consciously invest in people and communities. This is part of our philosophy. I firmly believe this way of thinking also contributes to our business success.”
Year of milestones achieved and foundations laid
Fiscal year 2025 was a year of multiple milestones for GEA. In September, the company achieved fast entry into the German blue-chip DAX index, reflecting the successful transformation and strong share price performance over recent years. GEA also secured one of the largest single orders in its corporate history, for the construction of the world’s biggest integrated milk powder production plant in Algeria. With a volume of EUR 140 to 170 million, this project underscores GEA’s expertise as a leading provider of large-scale plant and process technology. By opening a technology center for alternative proteins in the United States, GEA has also strengthened its capabilities in the growth market of New Food.
At the end of 2025, GEA paved the way for its next ambitious growth phase, streamlining the organizational structure to boost flexibility and speed up decision making. Among other areas, the growth markets of China and India were given a higher priority. The number of divisions has been reduced to four: Pure Flow Processing, Nutrition Plant Engineering, Pharma & Food Applications, and Farm Technologies. From Q1 2026 onwards, GEA will report its financials in the new structure. Additionally, CEO Stefan Klebert has been confirmed in office until the end of 2028, following an early decision by the supervisory board.
Outlook for 2026: accelerated revenue growth and further increases in profitability
For fiscal year 2026, GEA anticipates organic revenue growth of between 5.0 and 7.0 percent. The EBITDA margin before restructuring expenses is guided between 16.6 and 17.2 percent. For ROCE, GEA is forecasting a figure of between 34.0 and 38.0 percent.
