GEA Group Aktiengesellschaft (OTCPK:GEAGF) Q3 2024 Earnings Conference Call November 6, 2024 8:00 AM ET
Company Participants
Oliver Luckenbach – Head of Investor Relations
Stefan Klebert – Chief Executive Officer
Bernd Brinker – Chief Financial Officer
Conference Call Participants
Klas Bergelind – Citi Investment Research (Europe)
Sven Weier – UBS Limited (Germany)
Akash Gupta – JP Morgan
Sebastian Künne – RBC Capital Markets
Sebastian Growe – Exane BNP Paribas
Lars Vom Cleff – Deutsche Bank
Oliver Luckenbach
Yes, thank you, Sarah. Good afternoon, ladies and gentlemen, and thank you for joining us today for our Third Quarter 2024 Earnings Conference Call.
With me on the call are Stefan Klebert, our CEO; and Bernd Brinker, our CFO. Stefan will begin today’s call with the highlights of the third quarter. Bernd will then cover the business and financial review before Stefan takes over again for the outlook 2024. Afterwards, we open up the call for the Q&A session. Please be aware of the cautionary language that is included in our safe harbor statement, as in the material that we have distributed today.
And with that, I hand over to Stefan.
Stefan Klebert
Thank you, Oliver, and good afternoon, everybody. It’s my pleasure to welcome you on our conference call today. The third quarter of 2024, GEA has once again delivered a significant EBITDA margin expansion. We have mentioned for many months that we are expecting an order intake recovery in the second half of this year, and the third quarter confirmed our expectation.
Order intake rose year-over-year by 4.3% to €1.3 billion. In organic terms, the increase has been even more pronounced with a year-over-year growth rate of 6.6%. Sales rose organically by 1.4%, benefiting from a further expansion of our service business.
EBITDA before restructuring expenses increased by 4.9% year-over-year to €217 million. The
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