GEA Group (G1A) Q2 2026 earnings summary

Executive summary

• Achieved double-digit growth in order intake (+14.2%) and revenue (+10.0%) in Q2 2026, with all divisions contributing to revenue and profitability growth.

• EBITDA before restructuring expenses rose 15.6% to EUR 251 million, with margin improving to 17.4%.

• Net liquidity improved to EUR 71 million, reflecting strong free cash flow and disciplined capital allocation.

• Raised full-year 2026 guidance for organic sales/revenue growth, EBITDA margin, and ROCE.

• Launched a new share buyback program of up to EUR 500 million, bringing total buybacks to EUR 1.2 billion between 2021 and 2027.

Financial highlights

• Q2 2026 order intake grew 14.2% year-over-year to EUR 1.5 billion; organic order intake up 15.4%.

• Sales/revenue increased 10.0% to EUR 1.44 billion; organic sales growth at 11.0%.

• EBITDA before restructuring expenses rose 15.6% to EUR 251 million; margin improved to 17.4%.

• Free cash flow in Q2 reached EUR 151 million, the highest second quarter in six years.

• Net working capital to sales/revenue ratio at 7.0%, at the bottom of the guided corridor.

Outlook and guidance

• Organic sales/revenue growth guidance for 2026 raised to 6.0–8.0% (from 5.0–7.0%).

• EBITDA margin before restructuring expenses now expected at 17.0–17.4% (prior: 16.6–17.2%).

• ROCE guidance increased to 36.0–40.0% (prior: 34.0–38.0%).

• Division-level guidance also raised, with all segments expected to deliver higher organic growth and margins.

• Free cash flow for full year expected to be in line with 2025.