Despite a less vibrant development of the global economy, GEA says 2014 was a highly successful fiscal year for the company.
The preliminary key figures for the Group show that the envisaged targets were attained.
As expected, order intake was almost on par with the previous year and reached €4,520 million (US$5,172.83 million).
The company managed to increase organic sales by 5.6% to a total of €4,516 million.
The long-term plan to achieve a corridor of 4-6% in terms of annual organic growth was achieved.
In the fiscal year just ended, GEA generated liquidity in the amount of €340 million from operating activities prior to cash outflows for dividend payments and acquisitions.
“While 2014 presented a more challenging economic environment, we accomplished everything we set out to do,” said CEO Jürg Oleas.
“Apart from the operating leverage from increased volume, consistent cost management, innovation as well as an increased share of service business were conducive to raising our operating earnings before interest and taxes margin to a new record high of 11.4%.”
Provided that there is no decline in global economic growth and a constant currency basis compared to 2014, and without taking into account the impact of acquisitions and one-off effects, GEA expects to achieve a moderate growth in sales and an operating before interest, taxes, depreciation and amortization of between €580 million and €620 million in the current fiscal year 2015.