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GEA Group Aktiengesellschaft
Düsseldorf, July 28th, 2014
Q2 2014 Presentation for Roadshows and Conferences GEA continuing operations
engineering for a better world
Forward-looking statements are based on our current assumptions and forecasts. These statements naturally entail
risks and uncertainties, which may cause the actual results of operations, financial position or performance to diverge
significantly from the estimates given here. Factors that could cause such a divergence include changes in the
economic and business environment, fluctuations in exchange rates and interest rates, launches of competing products,
poor acceptance of new products or services, and changes in business strategy. We are under no obligation to update
forward-looking statements.
Due to rounding, the sum of percentages of order intake and sales by region as well as by customer industry may vary
from 100%.
Disclaimer
GEA on Roadshows and Conferences - Q2 2014 2
engineering for a better world
Table of Contents
GEA in Summary
GEA on Roadshows and Conferences - Q2 2014
Pages 5 - 18
Industry Split Page 8
Segment Performance incl. Organic Growth Rates Pages 42 – 47
Q2 2014 Results Presentation Pages 20 - 35
Outlook Pages 36 – 37
Regional Split Page 12
Historical Key Figures GEA Group and Segments Pages 54 - 58
ADR Information Page 60
3
engineering for a better world
Agenda
The GEA Group
Results Q2 2014
Backup
GEA on Roadshows and Conferences - Q2 2014 4
engineering for a better world
GEA in summary
5 GEA on Roadshows and Conferences - Q2 2014
The GEA Group is a global leader in equipment and process technology providing
innovative solutions for smart food processing and for a more efficient use of energy
resources.
Sales EUR 4.3bn (FY13) Employees >18,000 (June14)
Operating EBIT Margin 10.6% (FY13) Market Cap >EUR 6.5bn (June14)
Dairy Farming Dairy Processing Beverages Food
engineering for a better world
GEA in summary
6 GEA on Roadshows and Conferences - Q2 2014
You are in touch with food processed by GEA equipment every day…
Every fourth liter of milk you are consuming has been processed through GEA equipment.
Every third instant coffee production line around the globe has been built by GEA.
Every third chicken nugget you are eating has been processed by our equipment.
Every second liter of beer you are drinking has gone through our components.
…we are all this and more every day.
engineering for a better world
Growth drivers
Megatrend Demand relevant for GEA
Growing interest in
efficient production
processes that conserve
resources
Resource-conserving technologies
Energy-saving machines and processes/heat
recovery
“Intelligent” engineering solutions
Rising energy costs/
environmental regulations
Urbanization/
expansion of middle class
Growing quality
requirements for foodstuffs
and pharmaceuticals
Processed foods/ready meals
Enriched lifestyle drinks and food
Pharmaceuticals
7 GEA on Roadshows and Conferences - Q2 2014
Megatrend Significance for demand Demand relevant for GEA
Growing concern about
food safety and quality
Willingness to pay for
process safety
Rising standards of hygiene
Aseptic process requirements
engineering for a better world
End markets: ~ 75% food exposure
8 GEA on Roadshows and Conferences - Q2 2014
Pharma/Chemical
Dairy Farming
Food 22%
Dairy Processing
23%
14%
Beverages
Others*
15%
12%
14%
No 100% food exposure due to
dual-use of our products
e.g. separators
*Others include Environmental, Oil & Gas, Marine etc.
engineering for a better world
Highly fragmented client base
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Top Customer Top 10 Top 50 Top 100 Top 150 Top 200
Cum
ula
tive
Reve
nu
e S
ha
re
Number of customers
GEA on Roadshows and Conferences - Q2 2014 9
~ 30% of the Top 50 customers are already
coming from Developing Markets
~2%
~12%
~32%
engineering for a better world 10 GEA on Roadshows and Conferences - Q2 2014
Dairy equipment demand should grow for structural reasons
• Prime export regions: NZL, NW Europe, USA, Argentina
• Prime import regions: China, Russia, (sub) tropical latitudes
Milk usually is shipped as powder (weighing 85% less, durable)
Source and copyright of maps: © IFCN Dairy Research Center 2014, rendered by GEA Group with kind permission, consumption data: FAO
Food Outlook, other (2012)
Per capita consumption:
New Zealand 309 kg
EU-27 287 kg
USA 276 kg
Brazil 173 kg
China 38 kg
Indonesia 13 kg
engineering for a better world
GEA among the global market leaders for milk powder plants
11 GEA on Roadshows and Conferences - Q2 2014
• Milk is usually shipped as powder
• We have built the world‘s largest dairy
spray dryer
• The produced milk powder will be
exported to more than 20 markets
worldwide
I
Fonterra – Darfield plant
engineering for a better world
Emerging Markets driving at least 40% of our business
12 GEA on Roadshows and Conferences - Q2 2014
Top-3-Countries
* According to the definition of emerging/developing economies by International Monetary Fund. Note: Numbers per Q2 2014 LTM
USA: 15%
China: 10%
Germany: 9%
North America
16%
Western Europe
36%
Eastern Europe & CIS
9%
Latin America
6%
Africa
3%
Middle East
4%
Asia-Pacific
25%
Emerging Markets*
39%
engineering for a better world
Steadily growing sales and margins
13 GEA on Roadshows and Conferences - Q2 2014
[in EUR million]
9.3%
11.0%
12.0% 11.9%
12.6%
7.2%
9.0%
10.3% 10.3%
10.9%
6%
7%
8%
9%
10%
11%
12%
13%
0
1.000
2.000
3.000
4.000
5.000
Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14
Order Intake LTM Sales LTM Operating EBITDA Margin LTM Operating EBIT Margin LTM
5,000
4,000
3,000
2,000
1,000
engineering for a better world
0
20
40
60
80
100
120
140
2009 2010 2011 2012 2013
GDP GEA
GEA has been growing by more than 5% organically
GEA on Roadshows and Conferences - Q2 2014
CAGR Global GDP
growth 2009-2013:
+3.8%
CAGR GEA organic sales
growth 2009-2013:
+5.8%
(Index 2009 = 100)
14
engineering for a better world
1,772 1,830 1,873 1,887 1,890 1,891 1,886 1,895 1,900 1,912
17.5% 18.6% 18.6%
16.7%
18.8% 19.3%
19.6%
22.1% 22.6% 22.9%
0%
5%
10%
15%
20%
25%
0
500
1.000
1.500
2.000
2.500
3.000
Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14
Capital Employed (average LTM) ROCE (average LTM)
*ROCE LTM = EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)
[in EUR million]
GEA on Roadshows and Conferences - Q2 2014 15
Strong focus on cash generation and ROCE
Cash Flow Driver Margin ROCE*
3,000
2,500
2,000
1,500
1,000
142 173 189
207
310
355 387
414 404 394 3.6%
4.3% 4.6%
5.0%
7.4%
8.3%
9.0%
9.6% 9.3%
9.0%
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
0
50
100
150
200
250
300
350
400
450
Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14
Cash Flow Driver (LTM) Cash Flow Driver Margin (LTM)
engineering for a better world GEA on Roadshows and Conferences - Q2 2014
722 732 802
974 1,114 1,153 1,171
2008 2009 2010 2011 2012 2013 Q2 14 LTM
Service Sales GEA
Service business at EUR 1.2bn corresponding to ~27% of sales
16
[in EUR million]
26.6% of sales
engineering for a better world
Segment structure
17 GEA on Roadshows and Conferences - Q2 2014
Milking & Cooling
Farm Services
Farm Equipment
GEA Farm Technologies
13 % of Group Sales
~ 100 %
food related
Operating EBIT FY 2013: 7.7%
ROCE FY 2013: 12.7%
Separators & Decanters
Homogenizers & Flow Components
Food Solutions
GEA Mechanical Equipment
30 % of Group Sales
~ 64 %
food related
Operating EBIT FY 2013: 14.1%
ROCE FY 2013: 17.4%
Dairy and Brewery Systems
Aseptic Filling
Pharma Systems
GEA Process Engineering
40% of Group Sales
~ 75 %
food related
Operating EBIT FY 2013: 10.5%
ROCE FY 2013: 73.2%
Compressors
Ice Machines
Freezers
GEA Refrigeration
Technologies
17 % of Group Sales
~ 62 %
food related
Operating EBIT FY 2013: 8.4%
ROCE FY 2013: 22.7%
engineering for a better world
Summary: Why to invest in GEA?
18 GEA on Roadshows and Conferences - Q2 2014
Pure play on food equipment market
Globally leading positions
Strong focus on cash generation and ROCE
Steadily growing sales and profitability
…engineering for a better world
engineering for a better world
Agenda
The GEA Group
Results Q2 2014
Backup
GEA on Roadshows and Conferences - Q2 2014 20
engineering for a better world
Order
Intake (EURm)
1,170
Sales (EURm)
1,118
Operating
EBITDA (EURm)
128.0
CFD Margin
9.0%
D organic:
-2% YoY
Key Highlights Q2 2014
GEA on Roadshows and Conferences - Q2 2014 21
Operating
EBIT (EURm)
109.3
ROCE
22.9%
Confirmation of FY14 guidance due to strong Q2 results:
D organic:
+8% YoY
D +368 bps
YoY D +8% YoY D +8% YoY
D +63 bps
YoY
D organic:
+14% QoQ
Organic
growth in all
segments
Q2 record
margin of
9.8%
+30 bps YoY
Q2 record
margin of
11.5%
+33 bps YoY
engineering for a better world
D -4%
organic: -2%
1,220 1,170
Q2 2013 Q2 2014
GEA on Roadshows and Conferences - Q2 2014
Order Intake
D +5%
organic: +8%
1,065 1,118
Q2 2013 Q2 2014
Sales
D +8%
101 109
Q2 2013 Q2 2014
Operating EBIT
D +30 bps
9.5% 9.8%
Q2 2013 Q2 2014
Operating EBIT Margin
[in EUR million]
Key Figures Q2 2014 and change YoY
22
engineering for a better world
Development LTM: Order Intake, Sales, Operating Margins
23 GEA on Roadshows and Conferences - Q2 2014
Highest Sales and Operating Margins ever achieved on rolling LTM
9.3%
11.0%
12.0% 11.9%
12.6%
7.2%
9.0%
10.3% 10.3%
10.9%
6%
7%
8%
9%
10%
11%
12%
13%
0
1.000
2.000
3.000
4.000
5.000
Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14
Order Intake Sales Operating EBITDA Margin Operating EBIT Margin
5,000
4,000
3,000
2,000
1,000
[in EUR million]
engineering for a better world
14 17
41 45
42 41
6 10
Q2 2013 Q2 2014
GEA FT
GEA ME
GEA PE
GEA RT
181 204
570 501
346 329
156 170
Q2 2013 Q2 2014
GEA FT
GEA ME
GEA PE
GEA RT
Segments Q2 2014
1,220 1,170
D -5%
D -12%
D +13%
D +9%
Operating EBIT Margin
[in EUR million]
D -4%
organic: -2%
Order Intake
189 189
436 469
334 340
134 154
Q2 2013 Q2 2014
GEA FT
GEA ME
GEA PE
GEA RT
1,065 1,118
D +2%
D +8%
D -0%
D +15%
D +5%
organic +8%
Sales
101 109
D +9%
D -3%
D +21%
D +81%
D +8%
Operating EBIT
Q2 2013 Q2 2014 D YoY
GEA FT 4.1% 6.5% +236 bps
GEA ME 12.6% 12.0% -61 bps
GEA PE 9.5% 9.6% +13 bps
GEA RT 7.6% 9.2% +161 bps
GEA Group 9.5% 9.8% +30 bps
GEA on Roadshows and Conferences - Q2 2014 24
engineering for a better world
519 518 576 596 619 705 686 669
737 711 702 745 710 722 724 747 754 773
157 139 149
173 168
185 166 208 214
172 221 175 144
234 167
211 160 170
61 65 63
64 135
135 128 111
96 102
124 107 131
102 132
67 88
103
40 33
66 41
60 58
100
44 65 112
110
162 144 121
22
123
0
200
400
600
800
1.000
1.200
1.400
Q2 10 Q3 10 Q4 10 Q1 11 Q2 11(w/o FS)
Q2 11 (incl.FS)
Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
14% sequential growth vs. Q1 2014 driven by base orders and large orders
[in EUR million]
GEA on Roadshows and Conferences - Q2 2014 25
Large Order Development since Q2 2010
1,400
1,200
1,000
engineering for a better world
Regional Sales Trend LTM per Q2 2014
26 GEA on Roadshows and Conferences - Q2 2014
Top-3-Countries
North America
D YoY: -4%
Western Europe
D YoY: +12%
Eastern Europe & CIS
D YoY: +1%
* According to the definition of emerging/developing economies by International Monetary Fund.
USA: 15% (16%)
D abs.: -4% YoY
China: 10% (10%)
D abs.: +0% YoY
Germany: 9% (8%)
D abs.: +15% YoY
16% 36% 9%
Latin America
D YoY: +0% 6%
Africa
D YoY: -16% 3%
Middle East
D YoY: -1% 4%
Asia-Pacific
D YoY: +2% 25%
Emerging Markets*
D YoY: -2%
39%
engineering for a better world
14% (13%)
23% (22%)
22% (24%)
14% (13%)
12% (14%)
15% (14%)
Sales LTM
per Q2 2014:
EUR 4,400m
+3% YoY
* Average last four quarters: Q1 – Q4 2009 = Index 100
Dairy Farming D +6% YoY
Food D -7% YoY
Beverages D +8% YoY
Other Industries D +14% YoY
80%
100%
120%
140%
160%
180%
200%
220%
Dairy Farming Dairy Processing GEA Group
80%
100%
120%
140%
160%
180%
200%
220%
Q409
Q110
Q210
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
Pharma/Chemical Other Industries GEA Group
80%
100%
120%
140%
160%
180%
200%
220%
Food Beverages GEA Group
Dairy
Processing D +9% YoY
GEA on Roadshows and Conferences - Q2 2014 27
Sales by Customer Industry since Q4 2009*
Pharma/Chemical D -7% YoY
engineering for a better world
Book to bill ratio (L4Q)
Q2 2014
Dairy Farming 1,03 5,4% 1,04 1,4% 1,05 4,6% 0,98 0,9% 1,37 0,0% 0,76 0,0% 1,01 1,4% 1,03 13,7%
Dairy Processing 1,09 9,7% 0,98 1,7% 0,91 3,0% 1,44 1,8% 1,74 1,0% 1,08 0,9% 1,15 6,8% 1,11 24,8%
Food 1,04 9,1% 0,85 2,0% 1,07 3,2% 1,26 1,5% 1,04 1,4% 0,98 0,9% 0,97 3,8% 1,02 22,0%
Beverages 0,82 3,3% 1,13 1,6% 0,72 1,0% 0,44 0,4% 2,89 1,9% 1,16 0,5% 0,81 3,7% 0,92 12,5%
Food & Beverages 1,02 27,5% 0,98 6,6% 0,98 11,8% 1,06 4,7% 1,66 4,4% 1,05 2,3% 0,99 15,7% 1,03 72,9%
Pharma 1,02 2,2% 0,42 0,3% 0,98 1,0% 1,17 0,7% 0,24 0,1% 1,45 0,4% 0,97 2,1% 0,95 6,6%
Chemical 0,88 1,2% 1,03 0,1% 1,07 1,1% 0,99 0,3% 1,05 0,0% 0,20 0,1% 1,04 1,8% 0,93 4,6%
Pharma/Chemical 0,97 3,4% 0,53 0,4% 1,03 2,0% 1,10 1,0% 0,37 0,1% 0,68 0,5% 1,00 3,8% 0,94 11,3%
Environment 1,15 1,6% 1,13 0,3% 0,96 0,7% 0,33 0,1% 0,84 0,0% 0,94 0,1% 1,25 1,3% 1,07 4,1%
Oil & Gas 1,59 0,9% 3,27 0,7% 0,85 0,7% 0,34 0,0% 1,53 0,2% 0,11 0,1% 0,88 1,4% 1,01 4,0%
Marine 1,14 1,5% 1,82 0,1% 0,99 0,1% 0,64 0,1% 0,76 0,0% 0,97 0,0% 1,50 1,8% 1,27 3,7%
Power 1,37 0,3% 0,38 0,0% 2,26 0,1% 0,93 0,1% 0,75 0,1% 0,23 0,1% 1,28 0,1% 0,84 0,9%
Others 1,07 1,1% 1,28 0,3% 0,69 0,2% 0,69 0,2% 0,94 0,0% 0,73 0,1% 1,09 1,2% 1,00 3,2%
Other Industries 1,19 5,4% 1,77 1,4% 0,91 1,9% 0,57 0,6% 1,02 0,3% 0,35 0,4% 1,16 5,8% 1,06 15,8%
Total 1,04 36,3% 1,01 8,4% 0,98 15,7% 0,99 6,2% 1,48 4,8% 0,79 3,2% 1,03 25,4% 1,02 100,0%
Latin America Africa Middle - East Asia - Pacific TotalWestern
Europe
Eastern
Europe & CIS
North America
<= 0.8 > 0.8 and < 1.0 >= 1.2 > 1.0 and < 1.2
Colour code: Only cross-sections with a share of > 1% of group order intake are colored
Book to Bill categories
BtB % of OI BtB % of OI BtB % of OI BtB % of OI BtB % of OI BtB % of OI BtB % of OI BtB % of OI
GEA on Roadshows and Conferences - Q2 2014 28
Book to Bill Ratios by Industry/Region
Strong BtB-Ratios in Food & Beverages driven by Dairy Processing
engineering for a better world
1,100 1,200 1,350 1,300
544
701
735 837
0
500
1.000
1.500
2.000
2.500
Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14
Order Backlog invoicable in respective FY Order Backlog invoicable after respective FY Order Intake Sales LTM BtB ratio
1.04 1.06 1.06 1.05 1.08 1.07 1.06 1.07 1.07 1.05 1.07
#
[in EUR million]
1.05 1.02
2,136
1,644 1,701
1,599
1,841 1,901
1,983 2,085
1,830 1,932
2,015 2,087
GEA on Roadshows and Conferences - Q2 2014 29
Top Line Trend / Order Backlog
2,137
Continuously positive BtB-Ratio
2,500
2,000
1,500
1,000
engineering for a better world
1,772 1,830 1,873 1,887 1,890 1,891 1,886 1,895 1,900 1,912
17.5% 18.6% 18.6%
16.7%
18.8% 19.3% 19.6%
22.1% 22.6% 22.9%
0%
5%
10%
15%
20%
25%
0
500
1.000
1.500
2.000
2.500
3.000
Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14
Capital Employed (average LTM) ROCE (average LTM)
*ROCE LTM = EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)
[in EUR million]
GEA on Roadshows and Conferences - Q2 2014 30
ROCE Development
ROCE approaching 23% despite slightly increased capital employed following recent capex projects
3,000
2,500
2,000
1,500
1,000
engineering for a better world
345 351 269
404 449 460
395
523 521 511
356
515 521 538
363
535 590
13.4%
12.4%
11.6% 11.3% 11.0% 11.3% 11.4% 12.1%
12.8% 12.9% 12.7% 12.2%
11.9% 11.7% 11.7% 11.8% 11.9%
0%
2%
4%
6%
8%
10%
12%
14%
16%
0
100
200
300
400
500
600
700
800
Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14
Working Capital Working Capital (average LTM) as % of sales (LTM)
Working Capital / Sales ratio stabilized in guided corridor
[in EUR million]
GEA on Roadshows and Conferences - Q2 2014 31
Working Capital Development
engineering for a better world
142 173 189 207
310 355
387 414 404 394 3.6%
4.3% 4.6%
5.0%
7.4%
8.3%
9.0%
9.6% 9.3%
9.0%
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
0
50
100
150
200
250
300
350
400
450
Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14
Cash Flow Driver (LTM) Cash Flow Driver Margin (LTM)
536
394
123 -19
505 524
Ø WC Q3 12-Q2 13
Ø WC Q3 13-Q2 14
Cash Flow Driver LTM
per Q2 14 D WC LTM CAPEX LTM
per Q2 14 EBITDA LTM
per Q2 14 [in EUR million]
GEA on Roadshows and Conferences - Q2 2014 32
Cash Flow Driver Margin Development
engineering for a better world
Cash generation LTM: EUR ~200m
Taxes / Interests -139,8
CAPEX
Net Debt 30.06.2014
-97.5
-551.8
Dividend -115.5
Effect from acquisitions -2.8
-52.0
Net Debt bef. DOP, M&A and Dividend -381.5
Others
Discontinued Operations
-153,9
Delta Working Capital -77.4
EBITDA 667.5
Net Debt 30.06.2013 -580.4
D +EUR 199m
[in EUR million]
GEA on Roadshows and Conferences - Q2 2014 33
Net Liquidity Reconciliation incl. GEA HX
engineering for a better world
1,139
243
457
247
193
1,171
242
471
253
205
GEA Group GEA FT GEA ME GEA PE GEA RT
Share of Service Sales
Organic growth YoY of +6.7% (+2.8% reported)
D +7%
(+3% reported)
%
27% 27%
39%
35% 35%
14% 14%
27% 28%
42%
Q2 2013 LTM Q2 2014 LTM
D +5%
(0% reported)
D +7%
(+3% reported)
D +6%
(+3% reported)
D +9%
(+6% reported)
[in EUR million]
GEA on Roadshows and Conferences - Q2 2014 34
Service Business per Q2 LTM: 27% of Sales
engineering for a better world
Q2 13 Q2 14 D % D %
organic
Order Intake 346.4 329.1 -5.0 -3.2
Sales 334.0 340.4 +1.9 +4.0
Operating
EBIT
42.0 40.8 -3.0
Operating
EBIT Margin
12.6% 12.0% -61
bps
Q2 13 Q2 14 D % D %
organic
Order Intake 155.7 169.7 +9.0 +14.4
Sales 133.8 154.2 +15.3 +20.7
Operating
EBIT
5.5 10.0 +81.3
Operating
EBIT Margin
4.1% 6.5% +236
bps
GEA FT GEA ME
GEA PE GEA RT
[in EUR million]
Q2 13 Q2 14 D % D %
organic
Order Intake 570.0 500.9 -12.1 -10.0
Sales 435.6 469.1 +7.7 +10.1
Operating
EBIT
41.2 45.0 +9.1
Operating
EBIT Margin
9.5% 9.6% +13
bps
Q2 13 Q2 14 D % D %
organic
Order Intake 181.2 204.1 +12.7 +15.2
Sales 189.2 189.0 -0.1 +3.5
Operating
EBIT
14.3 17.4 +21.1
Operating
EBIT Margin
7.6% 9.2% +161
bps
Summary Segment Performance Q2 2014 YoY
GEA on Roadshows and Conferences - Q2 2014 35
engineering for a better world
At the condition of no unexpected economic downturns, assuming constant FX-rates versus FY 2013 and
disregarding potential acquisitions and one-off expenses we are aiming in 2014 for:
Sales
moderate growth
Operating EBITDA (EURm)
550 - 590
Cash Flow Driver Margin
9.0% - 9.5%
Cash Flow Driver Margin:
EBITDA – Capex - / + D Working Capital (LTM)
Sales Sales Sales
GEA on Roadshows and Conferences - Q2 2014 36
Guidance FY 2014 continuing operations confirmed
engineering for a better world
Depreciation &
amortization
(incl PPA) (EURm)
Thereof impact
from PPA in
2014 and in
subsequent
years (EURm)
Long term target
capex level (of sales)
Working Capital
LTM (of sales LTM)
Dividend policy Interest rate
financial
liabilities
around100 around 23 p.a
around 2% approx. 11%
- 13%
payout ratio around
1/3 of net
income
below 3.5%
GEA on Roadshows and Conferences - Q2 2014 37
Additional Financial Information for 2014
engineering for a better world
July 29, 2014 Roadshow Switzerland Zurich
July 31, 2014 Roadshow UK Edinburgh
July 30, 2014 Roadshow Germany Frankfurt
July 30, 2014 Roadshow UK London
Aug 1, 2014 Roadshow Ireland Dublin
Sept 4, 2014 Roadshow France Paris
Sept 8 - 9, 2014 Conference USA New York
2 0 1 4
GEA on Roadshows and Conferences - Q2 2014 38
Investor Relations Calendar Upcoming Roadshows and Conferences
Sept 9, 2014 Conference Germany Frankfurt
Sept 3, 2014 Conference UK London
engineering for a better world
Sept 24 - 25, 2014 Conference Germany Munich
Sept 30, 2014 Conference Italy Milan
Oct 13, 2014 Capital Markets Day London
2 0 1 4
GEA on Roadshows and Conferences - Q2 2014 39
Investor Relations Calendar Upcoming Roadshows and Conferences
Sept 10, 2014 Roadshow Denmark Copenhagen
Sept 10, 2014 Conference UK London
Sept 10 – 11, 2014 Roadshows USA/Canada East Coast
engineering for a better world
October 28, 2014 Interim Report Q3 2014
2 0 1 4
GEA on Roadshows and Conferences - Q2 2014 40
Financial Calendar
October 13, 2014 Capital Markets Day
engineering for a better world
Agenda
The GEA Group
Results Q2 2014
Backup
GEA on Roadshows and Conferences - Q2 2014 41
engineering for a better world
7.2%
9.0%
10.3% 10.3% 10.9%
0%
2%
4%
6%
8%
10%
12%
0
1.000
2.000
3.000
4.000
5.000
Q210
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
[in EUR million]
Order Intake Sales Operating EBIT Margin
14%
23%
22%
14%
12%
15%
Dairy Farming
Dairy Processing
Food
Beverages
Pharma/Chemical
Other Industries
GEA Group
+14%
-7%
-7%
+9%
+6%
Sales by Customer
Industry [in EUR million] Q2 2013 Q2 2014 ∆
Q1-Q2
2013
Q1-Q2
2014 ∆
Order Intake
organic
1,220.0
1,169.9
-4.1%
-1.5%
2,315.1
2,194.2
-5.2%
-2.0%
Sales
organic
1,064.6
1,117.7
+5.0%
+7.9%
1,988.7
2,068.3
+4.0%
+7.0%
Order Backlog 2,085.3 2,137.2 +2.5% 2,085.3 2,137.2 +2.5%
Operating EBITDA 118.4 128.0 +8.1% 190.8 213.2 +11.7%
Operating EBITDA-Margin 11.1% 11.5% +33 bps 9.6% 10.3% +71 bps
Operating EBIT 101.0 109.3 +8.3% 156.4 176.1 +12.6%
Operating EBIT-Margin 9.5% 9.8% +30 bps 7.9% 8.5% +65 bps
ROCE (LTM)* 19.3% 22.9% +365 bps 19.3% 22.9% +365 bps
Order Intake, Sales and Operating EBIT Margin (LTM)
*ROCE LTM = EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)
Order Intake by Size / Large Order Development Q2 2014
36%
25%
16%
9%
6% 4% 3%
Western Europe
Asia-Pacific
North America
Eastern Europe&CIS
Latin America
Middle East
Africa -16%
0%
+1%
-4%
+2%
+12%
-1%
Sales by Region
519 518 576 596 619 705 686 669 737 711 702 745 710 722 724 747 754 773
157 139 149 173 168
185 166 208 214 172 221 175
144 234 167 211 160 170
61 65 63 64
135 135 128 111
96 102
124 107 131
102 132 67 88 103
40 33
66 41
60 58 100
44 65 112 110
162 144 121 22 123
0
200
400
600
800
1.000
1.200
1.400
Q210
Q310
Q410
Q111
Q211
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
[in EUR million]
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
GEA on Roadshows and Conferences - Q2 2014 42
LTM per
Q2 2014:
EUR 4,400m
+3% YoY
Δ YoY Δ YoY
3,000
4,000
5,000
+8%
2,000
1,000
1,000
1,200
1,400
LTM per
Q2 2014:
EUR 4,400m
+3% YoY
w/o FS Incl.FS
engineering for a better world
100%
Dairy Farming
GEA Farm Technologies
Sales by Customer
Industry
[in EUR million] Q2 2013 Q2 2014 ∆ Q1-Q2
2013
Q1-Q2
2014
∆
Order Intake
organic
155.7
169.7
+9.0%
+14.4
294.4
331.3
+12.5%
+17.8%
Sales
organic
133.8
154.2
+15.3%
+20.7
244.6 280.8
+14.8%
+20.5%
Order Backlog 120.9 129.8 +7.4% 120.9 129.8 +7.4%
Operating EBITDA 8.5 13.1 +53.6% 11.6 19.2 +65.8%
Operating EBITDA-Margin 6.4% 8.5% +212 bps 4.7% 6.8% +210 bps
Operating EBIT 5.5 10.0 +81.3% 5.6 13.1 +131.2%
Operating EBIT-Margin 4.1% 6.5% +236 bps 2.3% 4.6% +234 bps
ROCE (LTM)* 11.6% 15.2% +361bps 11.6% 15.2% +361 bps
4.7%
6.3%
6.7% 7.3%
8.5%
0%
2%
4%
6%
8%
10%
0
100
200
300
400
500
600
700
Q210
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
[in EUR million]
Order Intake Sales Operating EBIT Margin
Order Intake, Sales and Operating EBIT Margin (LTM)
*ROCE LTM = EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)
Order Intake by Size / Large Order Development Q2 2014
40%
10%
33%
10%
7%
Western Europe
Asia-Pacific
North America
Eastern Europe&CIS
Latin America
Δ YoY
0%
+7%
+17%
+12%
-16%
Sales by Region
116 115 116 126 130 140 129 147 144 146 143 139 151 149 151 161 165
3
1 1 1 5 2 1
1 5
0
30
60
90
120
150
180
Q210
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
[in EUR million]
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
Δ YoY
+7%
GEA on Roadshows and Conferences - Q2 2014 43
LTM per
Q2 2014:
EUR 614m
+7% YoY
LTM per
Q2 2014:
EUR 614m
+7% YoY
engineering for a better world
15%
42% 9%
9%
25%
Dairy Processing
Food
Beverages
Pharma/Chemical
Other Industries
GEA Mechanical Equipment
Sales by Customer
Industry [in EUR million] Q2 2013 Q2 2014 ∆
Q1-Q2
2013
Q1-Q2
2014 ∆
Order Intake
organic
346.4
329.1
-5.0%
-3.2%
676.1
668.2
-1.2%
+0.9%
Sales
organic
334.0
340.4
+1.9%
+4.0%
632.1
650.5
+2.9%
+5.2%
Order Backlog 446.5 437.5 -2.0% 446.5 437.5 -2.0%
Operating EBITDA 48.3 48.4 +0.3% 86.9 90.5 +4.3%
Operating EBITDA-Margin 14.5% 14.2% -23 bps 13.7% 13.9% +18 bps
Operating EBIT 42.0 40.8 -3.0% 74.7 75.3 +0.8%
Operating EBIT-Margin 12.6% 12.0% -61 bps 11.8% 11.6% -25 bps
ROCE (LTM)* 13.1% 17.0% +396 bps 13.1% 17.0% +396 bps
13.9% 13.8% 14.0%
0%
2%
4%
6%
8%
10%
12%
14%
16%
0
200
400
600
800
1.000
1.200
1.400
1.600
Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14
[in EUR million]
Order Intake Sales Operating EBIT Margin
Order Intake, Sales and Operating EBIT Margin (LTM)
*ROCE LTM = EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)
Order Intake by Size / Large Order Development Q2 2014
35%
26%
19%
6%
7% 5% 2%
Western Europe
Asia-Pacific
North America
Eastern Europe&CIS
Latin America
Middle East
Africa +5%
-12%
-1%
0%
+14%
+1%
-22%
Sales by Region
278 280 274 336
280 271 289 289 300 301 283 311 302
46 30 49 42 44 26 19 38 31 40
21 27 9 19
7 12 8 8 8
11 6 33
17 18
0
50
100
150
200
250
300
350
400
Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14
[in EUR million]
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
GEA on Roadshows and Conferences - Q2 2014 44
LTM per
Q2 2014:
EUR 1,346m
+3% YoY
LTM per
Q2 2014:
EUR 1,346m
+3% YoY
Δ YoY
+13%
+23%
-6%
-1%
-7%
Δ YoY
1,000
1,200
1,400
1,600
engineering for a better world
43%
5% 25%
20%
7%
Dairy Processing
Food
Beverages
Pharma/Chemical
Other Industries
GEA Process Engineering
+7%
-10%
+10%
-27%
+11%
Sales by Customer
Industry [in EUR million] Q2 2013 Q2 2014 ∆
Q1-Q2
2013
Q1-Q2
2014 ∆
Order Intake
organic
570.0
500.9
-12.1%
-10.0%
1,051.2
867.6
-17.5%
-14.4%
Sales
organic
435.6
469.1
+7.7%
+10.1%
830.0
859.8
+3.6%
+6.0%
Order Backlog 1,269.5 1,304.7 +2.8% 1,269.5 1,304.7 +2.8%
Operating EBITDA 45.0 48.8 +8.5% 74.4 79.0 +6.2%
Operating EBITDA-Margin 10.3% 10.4% +8 bps 9.0% 9.2% +23 bps
Operating EBIT 41.2 45.0 +9.1% 66.9 71.6 +7.0%
Operating EBIT-Margin 9.5% 9.6% +13 bps 8.1% 8.3% +27 bps
ROCE (LTM)* 66.6% 76.5% +997 bps 66.6% 76.5% +997 bps
7.2% 7.7%
9.4% 10.0%
10.6%
0%
2%
4%
6%
8%
10%
12%
0
400
800
1.200
1.600
2.000
Q210
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
[in EUR million]
Order Intake Sales Operating EBIT Margin
Order Intake, Sales and Operating EBIT Margin (LTM)
*ROCE LTM = EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)
Order Intake by Size / Large Order Development Q2 2014
33%
34%
11%
8%
8% 4% 4%
Western Europe
Asia-Pacific
North America
Eastern Europe&CIS
Latin America
Middle East
Africa -25%
+11%
+8%
-18%
-5%
+28%
0%
Sales by Region
117 136 177 169 178 167 159 186 175 170 197 174 170 166 194 184 185
121 110 119 133 122 116 121
144 107 132 100 104
155 98
130 91 96
61 43
58 59 127
90 111 82
75 101 94 126
82 124
50 69 96 40 33
66 41 60 58
100
44
65 79 78 162
127 121
22
123
0
100
200
300
400
500
600
Q210
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
[in EUR million]
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
GEA on Roadshows and Conferences - Q2 2014 45
LTM per
Q2 2014:
EUR 1,828m
+3% YoY
LTM per
Q2 2014:
EUR 1,828m
+3% YoY
Δ YoY Δ YoY
1,200
1,600
2,000
engineering for a better world
6%
50%
4%
7%
32%
Dairy Processing
Food
Beverages
Pharma/Chemical
Other Industries
GEA Refrigeration Technologies
+20%
-26%
+33%
-2%
+6%
Sales by Customer
Industry [in EUR million] Q2 2013 Q2 2014 ∆
Q1-Q2
2013
Q1-Q2
2014 ∆
Order Intake
organic
181.2
204.1
+12.7%
+15.2%
359.1
397.0
+10.6%
+14.3%
Sales
organic
189.2
189.0
-0.1%
+3.5%
341.2
343.9
+0.8%
+4.3%
Order Backlog 268.8 288.1 +7.2% 268.8 288.1 +7.2%
Operating EBITDA 16.8 19.9 +18.5% 26.4 32.3 +22.4%
Operating EBITDA-Margin 8.9% 10.5% +165 bps 7.7% 9.4% +166 bps
Operating EBIT 14.3 17.4 +21.1% 21.7 27.3 +26.1%
Operating EBIT-Margin 7.6% 9.2% +161 bps 6.3% 7.9% +159 bps
ROCE (LTM)* 21.8% 24.8% +294 bps 21.8% 24.8% +294 bps
3.6%
6.7%
7.8%
8.1% 9.1%
0%
2%
4%
6%
8%
10%
0
200
400
600
800
Q210
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
[in EUR million]
Order Intake Sales Operating EBIT Margin
Order Intake, Sales and Operating EBIT Margin (LTM)
*ROCE LTM = EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)
Order Intake by Size / Large Order Development Q2 2014
42%
15%
14%
13%
2%
7% 7%
Western Europe
Asia-Pacific
North America
Eastern Europe&CIS
Latin America
Middle East
Africa
-13%
+4%
+1%
+4%
+4%
+35%
Sales by Region
121 122 120 128 145 126 135 140 139 146 142 140 134 139 146 134
155
30 17 27 19 17
20 35 29 22
44 50 22 35 35
40 46
42 10 5 6 19
8 20
10 6 12
6 13 7
16
0
50
100
150
200
250
Q210
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
[in EUR million]
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
GEA on Roadshows and Conferences - Q2 2014 46
LTM per
Q2 2014:
EUR 739m
+3% YoY
LTM per
Q2 2014:
EUR 739m
+3% YoY
Δ YoY Δ YoY
-11%
engineering for a better world
33%
29%
18%
6%
4% 4%
6%
Environment
Power
Oil & Gas
Pharma/Chemical
Food & Beverages
Marine
Others
GEA Heat Exchangers (discontinued operations)
Δ YoY
-10%
-8%
+4%
+3%
-12%
+1%
+3%
Sales by Customer
Industry [in EUR million] Q2 2013 Q2 2014 ∆
Q1-Q2
2013
Q1-Q2
2014 ∆
Order Intake
organic
363.5
350.0
-3.7%
-1.0%
725.4
749.7
+3.3%
+6.9%
Sales
organic
385.9
355.7
-7.8%
-5.4%
704.0
667.2
-5.2%
-2.5%
Order Backlog 846.5 874.8 +3.3% 846.5 874.8 +3.3%
Operating EBITDA 37.6 32.7 -12.9% 63.7 58.6 -8.0%
Operating EBITDA-Margin 9.7% 9.2% -54 bps 9.0% 8.8% -27 bps
Operating EBIT 29.0 24.4 -15.7% 46.8 42.1 -10.0%
Operating EBIT-Margin 7.5% 6.9% -64bps 6.6% 6.3% -34 bps
ROCE (LTM)* 19.2% 17.5% -172bps 19.2% 17.5% -172bps
8.9% 7.8% 7.5%
8.6% 8.2%
0%
2%
4%
6%
8%
10%
0
300
600
900
1.200
1.500
1.800
Q210
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
[in EUR million]
Order Intake Sales Operating EBIT Margin
Order Intake, Sales and Operating EBIT Margin (LTM)
*ROCE LTM = EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)
Order Intake by Size / Large Order Development Q2 2014
44%
17%
10%
13%
3%
7% 5%
Western Europe
Asia-Pacific
North America
Eastern Europe&CIS
Latin America
Middle East
Africa
Δ YoY
-34%
-44%
-0%
+30%
-6%
+0%
+2%
Sales by Region
266 256 239 290 294 276 254 281 272 274
225 261 276 253 248 251 276
52 46 74 37 47 61
33 62 66 45
54 65 48
57 61 60 44 27 30 7
18 42 32
72 33 12
8 31
12 40 10 28 32 30
53 73 80 31
63 104 30
28 49 39
24 29
89 56
0
50
100
150
200
250
300
350
400
450
500
Q210
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
[in EUR million]
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
GEA on Roadshows and Conferences - Q2 2014 47
LTM per
Q2 2014:
EUR 1,452m
-4% YoY
LTM per
Q2 2014:
EUR 1,452m
-4% YoY
1,200
1,500
1,800
engineering for a better world
Q2 2014 vs.
Q2 2013
Q1-Q2 2014 vs.
Q1-Q2 2013
Q2 2014 vs.
Q1 2014
Order Intake
previous period 1,220 2,315 1,024
Structural Change 0 0% 0 0% 0 0%
Currency Effects -31 -2.6% -75 -3.3% +5 +0.5%
Organic Development -19 -1.5% -46 -2.0% +141 +13.8%
Order Intake
current period 1,170 -4.1% 2,194 -5.2% 1,170 +14.2%
[in EUR million]
GEA on Roadshows and Conferences - Q2 2014 48
Order Intake Q2 2014
∆ abs. ∆ in %
∆ abs. ∆ in %
∆ abs. ∆ in %
engineering for a better world
Q2 2014 vs.
Q2 2013
Q1-Q2 2014 vs.
Q1-Q2 2013
Q2 2014 vs.
Q1 2014
Sales
previous period 1,065 1,989 951
Structural Change 0 0% 0 0% 0 0%
Currency Effects -32 -3.0% -60 -3.0% +5 +0.5%
Organic Development +85 +7.9% +140 +7.0% +162 +17.0%
Sales
current period 1,118 +5.0% 2,068 +4.0% 1,118 +17.6%
∆ abs. ∆ in %
∆ abs. ∆ in %
∆ abs. ∆ in %
[in EUR million]
GEA on Roadshows and Conferences - Q2 2014 49
Sales Q2 2014
engineering for a better world
Q2 2014 vs.
Q2 2013
Q1-Q2 2014 vs.
Q1-Q2 2013
Q2 2014 vs.
Q1 2014
Operating EBITDA
previous period 118 191 111
Structural Change 0 0% 0 0% 0 0%
Currency Effects -3 -2.9% -5 -2.9% 0 +0.3%
Organic Development +13 +11.1% +28 +14.6% +17 +15.5%
Operating EBITDA
current period 128 +8.1% 213 +11.7% 128 +15.8%
∆ abs. ∆ in %
∆ abs. ∆ in %
∆ abs. ∆ in %
[in EUR million]
GEA on Roadshows and Conferences - Q2 2014 50
Operating EBITDA Q2 2014
engineering for a better world
123128
132
118
One-Offs Q2 2014
Reported EBITDA
Q2 2014
Operating EBITDA
FX Q2 2014 Operating
EBITDA before FX
Organic Q2 2013 Operating
EBITDA
+13 -3 -5
+11.1%
-2.9% -4.2%
[in EUR million]
GEA on Roadshows and Conferences - Q2 2014 51
EBITDA Bridge Q2 2014
engineering for a better world
USD
DKK
GBP
CNY
PLN
BRL
SGD
NZD
AUD
16%
6%
5%
5%
2%
2%
3%
4%
2%
-4.2%
-0.1%
+3.6%
-3.8%
0.0%
-15.3%
-5.5%
-1.7%
-13.5%
Currency % total Q2
3rd party Sales
FX development
Q2 14 vs Q2 13 (avg)
CAD 2% -11.2%
GEA on Roadshows and Conferences - Q2 2014 52
FX Development Q2 2014 YoY
engineering for a better world
623
551
623
936
929
943
542
647
517
495
470
459
521
363
590
GEA on Roadshows and Conferences - Q2 2014
Trade
Receivables Inventories
Trade
Payables Advance
Payments
Working
Capital
Q4 2013
Q2 2014
+13
+1%
+72
+13%
-129
-20%
-12
-3%
+227
+62%
Q2 2013
-7
-1%
-72
-12%
+104
+19%
-25
-5%
-158
-30%
_
_
_
[in EUR million]
53
Working Capital Development
engineering for a better world
Key Figures Time Line (1/6)
Order Intake
[in EUR million]Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) 95,1 116,4 100,5 85,7 397,7 75,6 101,2 81,6 95,5 353,9 115,5 94,5 100,7 98,9 409,6
GEA Farm Technologies 123,5 120,5 137,0 116,0 497,1 94,9 101,2 94,9 98,6 389,6 101,1 116,1 115,0 116,3 448,5
GEA Mechanical Equipment2) 257,4 258,0 237,0 177,0 929,4 194,9 162,2 158,6 169,4 685,1 172,0 194,7 191,9 181,8 740,4
GEA Process Engineering 367,3 355,4 346,4 264,4 1.333,6 251,0 308,7 254,0 334,6 1.148,3 335,7 339,0 321,7 419,7 1.416,1
GEA Refrigeration Technologies 174,1 152,3 144,2 143,3 613,9 138,9 143,2 114,3 130,3 526,6 127,5 150,6 148,9 152,5 579,6
GEA Group excluding HX 899,2 863,9 842,9 687,1 3.293,0 664,4 703,0 605,0 715,6 2.688,1 713,4 777,3 755,3 854,4 3.100,3
GEA Heat Exchangers 485,0 416,4 389,1 431,4 1.721,9 413,6 338,9 365,0 301,3 1.418,7 304,4 398,3 404,1 399,2 1.506,0
GEA Group incl. HX 1.374,3 1.272,7 1.223,5 1.113,3 4.983,9 1.072,5 1.036,0 962,3 1.009,9 4.080,7 1.010,2 1.167,3 1.152,6 1.247,8 4.578,0
Order Backlog
[in EUR million]Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
GEA Farm Technologies 107,8 106,0 111,1 77,5 77,5 86,0 89,5 77,2 61,5 61,5 77,1 89,4 80,6 63,1 63,1
GEA Mechanical Equipment2) 290,8 357,5 376,5 338,0 338,0 325,6 303,5 285,2 280,8 280,8 298,3 319,1 306,1 284,1 284,1
GEA Process Engineering 850,7 830,9 826,6 666,2 666,2 651,5 658,2 627,9 660,2 660,2 757,6 821,2 788,9 813,0 813,0
GEA Refrigeration Technologies 241,9 235,5 236,8 204,1 204,1 222,4 231,7 196,7 169,9 169,9 183,8 203,9 205,9 183,8 183,8
GEA Group excluding HX 1.483,5 1.520,3 1.539,2 1.283,6 1.283,6 1.276,0 1.274,4 1.175,8 1.161,1 1.161,1 1.301,8 1.417,0 1.362,1 1.333,5 1.333,5
GEA Heat Exchangers 1.348,3 1.344,1 1.291,7 1.172,1 1.172,1 1.203,6 1.165,3 1.142,6 1.008,6 1.008,6 1.006,7 1.061,1 1.071,3 1.086,9 1.086,9
GEA Group incl. HX 2.822,6 2.857,8 2.823,8 2.450,7 2.450,7 2.476,2 2.435,3 2.312,2 2.164,1 2.164,1 2.301,1 2.468,5 2.423,7 2.414,0 2.414,0
Sales
[in EUR million]Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) 91,8 99,1 98,5 104,8 394,2 89,0 79,8 82,8 82,5 334,1 101,0 99,8 93,1 103,7 397,6
GEA Farm Technologies 94,9 123,9 138,5 147,1 504,5 86,6 98,5 112,0 114,7 411,8 85,4 106,6 119,8 134,9 446,7
GEA Mechanical Equipment2) 196,9 190,7 210,9 211,2 809,7 200,0 179,9 163,8 174,0 717,5 156,7 173,7 193,1 201,9 725,4
GEA Process Engineering 328,2 395,8 364,5 398,9 1.487,4 270,7 281,9 278,1 313,2 1.144,0 256,9 298,5 330,9 402,2 1.288,5
GEA Refrigeration Technologies 132,5 159,3 142,9 175,9 610,6 122,3 136,9 148,2 158,2 565,6 117,4 135,3 139,7 171,3 563,7
GEA Group excluding HX 735,9 856,2 844,4 916,2 3.352,7 674,5 688,4 695,0 756,1 2.814,0 603,2 700,7 769,7 889,5 2.963,1
GEA Heat Exchangers 398,7 449,8 481,7 529,0 1.859,2 387,0 421,2 372,0 443,1 1.623,4 340,9 370,8 361,6 410,1 1.483,4
GEA Group incl. HX 1.127,2 1.295,8 1.318,0 1.438,0 5.179,0 1.054,5 1.103,9 1.060,8 1.191,9 4.411,2 938,2 1.065,1 1.124,7 1.290,4 4.418,4
Operating EBITDA
[in EUR million] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) -4,5 7,0 9,4 7,6 19,4 -2,9 4,9 7,0 6,4 15,5 13,5 10,3 5,5 6,8 36,2
GEA Farm Technologies 6,0 13,6 21,3 21,5 62,3 0,8 8,1 10,8 9,4 29,1 3,8 6,1 11,8 16,2 37,9
GEA Mechanical Equipment2) 30,1 32,9 32,8 43,5 139,3 26,7 23,2 28,4 37,0 115,2 24,8 26,9 37,7 46,9 136,4
GEA Process Engineering 12,1 26,1 28,0 47,0 113,2 11,1 17,3 21,0 38,6 88,0 14,7 20,5 23,0 48,3 106,5
GEA Refrigeration Technologies 7,7 11,9 11,7 16,9 48,1 4,3 8,6 5,0 10,7 28,6 3,8 8,2 9,2 15,8 37,1
GEA Group excluding HX 51,9 82,7 87,8 120,7 343,0 42,7 57,3 66,2 82,6 248,7 44,9 63,7 79,8 122,3 310,6
GEA Heat Exchangers 42,6 55,7 65,2 79,8 243,2 36,1 38,2 45,5 58,6 178,4 33,2 34,2 38,3 47,0 152,7
GEA Group incl. HX 94,5 138,6 152,7 200,1 585,9 78,8 95,4 111,7 147,2 433,1 78,1 97,9 118,1 169,5 463,5
Operating EBITDA - Margin
[in %] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) -4,9% 7,1% 9,5% 7,2% 4,9% -3,2% 6,2% 8,4% 7,8% 4,6% 13,4% 10,3% 5,9% 6,6% 9,1%
GEA Farm Technologies 6,3% 11,0% 15,4% 14,6% 12,4% 0,9% 8,2% 9,6% 8,2% 7,1% 4,4% 5,7% 9,9% 12,0% 8,5%
GEA Mechanical Equipment2) 15,3% 17,3% 15,5% 20,6% 17,2% 13,4% 12,9% 17,3% 21,3% 16,1% 15,8% 15,5% 19,5% 23,3% 18,8%
GEA Process Engineering 3,7% 6,6% 7,7% 11,8% 7,6% 4,1% 6,2% 7,5% 12,3% 7,7% 5,7% 6,9% 7,0% 12,0% 8,3%
GEA Refrigeration Technologies 5,8% 7,5% 8,2% 9,6% 7,9% 3,5% 6,3% 3,4% 6,7% 5,1% 3,2% 6,1% 6,6% 9,2% 6,6%
GEA Group excluding HX 7,0% 9,7% 10,4% 13,2% 10,2% 6,3% 8,3% 9,5% 10,9% 8,8% 7,4% 9,1% 10,4% 13,7% 10,5%
GEA Heat Exchangers 10,7% 12,4% 13,5% 15,1% 13,1% 9,3% 9,1% 12,2% 13,2% 11,0% 9,7% 9,2% 10,6% 11,5% 10,3%
GEA Group incl. HX 8,4% 10,7% 11,6% 13,9% 11,3% 7,5% 8,6% 10,5% 12,4% 9,8% 8,3% 9,2% 10,5% 13,1% 10,5%
GEA on Roadshows and Conferences - Q2 2014 54
engineering for a better world
Key Figures Time Line (2/6)
GEA on Roadshows and Conferences - Q2 2014 55
Order Intake
[in EUR million]Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14
GEA Food Solutions1) 125,5 - - - - - - - - - - - - - - - -
GEA Farm Technologies 125,9 129,5 140,3 131,7 527,4 148,1 145,7 147,4 142,6 583,9 138,8 155,7 150,7 151,6 596,7 161,6 169,7
GEA Mechanical Equipment2) 219,2 332,5 329,5 323,6 1.204,7 336,2 329,0 327,1 355,6 1.347,9 329,7 346,4 357,7 334,4 1.368,2 339,1 329,1
GEA Process Engineering 401,5 426,2 433,3 449,0 1.709,9 511,3 401,2 468,5 469,2 1.850,2 481,3 570,0 515,2 494,6 2.061,0 366,7 500,9
GEA Refrigeration Technologies 152,7 162,8 164,8 170,1 650,4 177,9 180,4 200,1 197,8 756,2 177,9 181,2 174,9 192,3 726,3 192,9 204,1
GEA Group excluding HX 874,3 1.024,8 1.040,6 1.047,0 3.986,7 1.146,0 1.028,6 1.111,6 1.139,2 4.425,4 1.095,1 1.220,0 1.168,3 1.144,4 4.627,9 1.024,3 1.169,9
GEA Heat Exchangers 375,5 445,6 369,8 462,3 1.653,2 406,1 379,0 375,1 349,7 1.509,8 361,9 363,5 348,1 426,8 1.500,3 399,7 350,0
GEA Group incl. HX 1.242,1 1.462,5 1.402,8 1.502,2 5.609,7 1.544,9 1.401,0 1.477,3 1.477,9 5.901,1 1.447,1 1.574,0 1.509,2 1.562,5 6.092,7 1.415,1 1.510,0
Order Backlog
[in EUR million]Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14
GEA Food Solutions1) 104,4 - - - - - - - - - - - - - - - -
GEA Farm Technologies 85,4 92,5 93,9 74,4 74,4 104,5 117,3 107,1 79,9 79,9 107,8 120,9 112,2 85,6 85,6 114,3 129,8
GEA Mechanical Equipment2) 304,1 431,2 445,9 395,2 395,2 446,5 452,9 442,5 438,4 438,4 442,6 446,5 456,8 428,4 428,4 456,3 437,5
GEA Process Engineering 888,2 927,4 972,2 951,2 951,2 1.082,3 1.104,5 1.142,5 1.069,6 1.069,6 1.164,2 1.269,5 1.334,9 1.290,5 1.290,5 1.267,9 1.304,7
GEA Refrigeration Technologies 210,4 206,6 206,1 197,0 197,0 224,4 245,8 265,4 257,0 257,0 283,6 268,8 253,1 229,5 229,5 272,2 288,1
GEA Group excluding HX 1.581,2 1.643,7 1.700,9 1.599,2 1.599,2 1.841,1 1.900,9 1.932,4 1.829,9 1.829,9 1.982,6 2.085,3 2.136,2 2.015,5 2.015,5 2.086,7 2.137,2
GEA Heat Exchangers 1.092,5 1.135,4 1.063,5 1.086,0 1.086,0 1.103,2 1.074,1 1.045,5 933,3 933,3 979,3 846,5 799,5 805,1 805,1 878,8 874,8
GEA Group incl. HX 2.666,6 2.770,6 2.755,7 2.677,3 2.677,3 2.935,6 2.967,4 2.967,8 2.751,6 2.751,6 2.950,0 2.919,1 2.926,5 2.810,9 2.810,9 2.956,6 2.999,5
Sales
[in EUR million]Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14
GEA Food Solutions1) 112,9 - - - - - - - - - - - - - - - -
GEA Farm Technologies 99,6 118,3 138,1 153,8 509,8 117,8 133,1 157,8 172,3 580,9 110,8 133,8 156,9 176,2 577,7 126,6 154,2
GEA Mechanical Equipment2) 191,6 311,1 317,0 371,0 1.190,7 269,3 319,2 328,6 349,2 1.266,4 298,1 334,0 336,3 359,3 1.327,8 310,0 340,4
GEA Process Engineering 300,8 385,1 394,7 496,6 1.577,2 373,2 401,2 423,6 518,3 1.716,3 394,3 435,6 441,3 526,7 1.798,0 390,7 469,1
GEA Refrigeration Technologies 132,8 166,6 166,2 181,6 647,2 149,5 165,2 177,0 203,1 694,8 152,1 189,2 184,8 210,6 736,6 154,9 189,0
GEA Group excluding HX 706,7 964,6 980,5 1.176,4 3.828,3 880,5 994,1 1.060,5 1.207,2 4.142,3 924,2 1.064,6 1.089,1 1.242,2 4.320,0 950,7 1.117,7
GEA Heat Exchangers 338,1 390,9 424,2 463,6 1.616,8 389,7 404,3 392,1 422,7 1.608,8 318,1 385,9 380,8 404,2 1.489,1 311,4 355,7
GEA Group incl. HX 1.038,0 1.349,0 1.397,4 1.632,2 5.416,5 1.263,7 1.391,3 1.445,6 1.619,6 5.720,1 1.232,7 1.441,9 1.459,5 1.638,1 5.772,2 1.253,1 1.466,4
Operating EBITDA
[in EUR million] Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14
GEA Food Solutions1) 6,2 - - - - - - - - - - - - - - - -
GEA Farm Technologies 5,0 8,4 15,0 16,8 45,2 5,0 11,2 17,8 24,5 58,5 3,1 8,5 17,6 27,8 56,9 6,1 13,1
GEA Mechanical Equipment2) 32,7 50,9 51,5 69,9 204,9 32,9 47,7 54,9 63,8 199,3 38,6 48,3 56,8 71,0 214,7 42,1 48,4
GEA Process Engineering 20,0 31,2 38,6 73,4 163,2 20,1 39,4 43,0 75,9 178,4 29,4 45,0 46,3 82,5 203,2 30,2 48,8
GEA Refrigeration Technologies 8,9 14,5 14,1 22,4 60,0 11,0 13,4 16,0 24,9 65,2 9,6 16,8 17,1 27,5 71,0 12,4 19,9
GEA Group excluding HX 62,4 100,3 119,8 187,0 469,6 68,0 110,7 132,3 183,5 494,4 72,4 118,4 133,5 205,7 530,1 85,1 128,0
GEA Heat Exchangers 29,5 35,3 46,9 48,7 160,4 32,6 35,9 37,5 61,5 167,5 26,1 37,6 38,6 55,9 158,2 25,8 32,7
GEA Group incl. HX 91,9 135,7 166,7 235,7 630,1 100,6 146,6 169,8 245,0 661,9 98,5 156,0 172,1 261,6 688,3 110,6 160,3
Operating EBITDA - Margin
[in %] Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14
GEA Food Solutions1) 5,5% - - - - - - - - - - - - - - - -
GEA Farm Technologies 5,0% 7,1% 10,8% 10,9% 8,9% 4,2% 8,5% 11,3% 14,2% 10,1% 2,8% 6,4% 11,2% 15,8% 9,9% 4,8% 8,5%
GEA Mechanical Equipment2) 17,1% 16,4% 16,2% 18,8% 17,2% 12,2% 14,9% 16,7% 18,3% 15,7% 12,9% 14,5% 16,9% 19,8% 16,2% 13,6% 14,2%
GEA Process Engineering 6,6% 8,1% 9,8% 14,8% 10,3% 5,4% 9,8% 10,1% 14,6% 10,4% 7,5% 10,3% 10,5% 15,7% 11,3% 7,7% 10,4%
GEA Refrigeration Technologies 6,7% 8,7% 8,5% 12,4% 9,3% 7,3% 8,1% 9,0% 12,2% 9,4% 6,3% 8,9% 9,3% 13,1% 9,6% 8,0% 10,5%
GEA Group excluding HX 8,8% 10,4% 12,2% 15,9% 12,3% 7,7% 11,1% 12,5% 15,2% 11,9% 7,8% 11,1% 12,3% 16,6% 12,3% 9,0% 11,5%
GEA Heat Exchangers 8,7% 9,0% 11,1% 10,5% 9,9% 8,4% 8,9% 9,6% 14,5% 10,4% 8,2% 9,7% 10,1% 13,8% 10,6% 8,3% 9,2%
GEA Group incl. HX 8,9% 10,1% 11,9% 14,4% 11,6% 8,0% 10,5% 11,7% 15,1% 11,6% 8,0% 10,8% 11,8% 16,0% 11,9% 8,8% 10,9%
engineering for a better world
Key Figures Time Line (3/6)
EBITDA reported
[in EUR million] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) -4,5 7,0 9,4 7,6 19,4 -2,9 4,9 7,0 6,4 15,5 13,5 10,3 5,5 6,8 36,2
GEA Farm Technologies 6,0 13,6 21,3 21,5 62,3 0,8 6,0 10,2 5,9 23,0 3,8 5,7 11,7 13,1 34,3
GEA Mechanical Equipment2) 30,1 32,9 32,8 43,5 139,3 26,7 23,1 26,6 27,1 103,5 24,8 25,3 28,9 45,2 124,1
GEA Process Engineering 12,1 26,1 28,0 47,0 113,2 10,2 14,0 11,2 30,9 66,4 14,7 19,8 22,8 48,1 105,4
GEA Refrigeration Technologies 7,7 11,9 11,7 16,9 48,1 4,0 8,1 3,9 6,6 22,5 3,7 7,5 7,1 2,6 21,0
GEA Group excluding HX 49,8 80,5 85,6 118,5 334,4 38,6 49,0 48,3 51,7 187,6 47,0 57,2 65,4 102,3 271,9
GEA Heat Exchangers 42,6 55,7 65,2 79,8 243,2 35,5 30,7 35,2 59,4 160,8 32,1 23,4 18,7 15,2 89,4
GEA Group incl. HX 94,5 138,6 152,7 200,1 585,9 76,7 82,3 87,9 121,8 368,7 76,8 83,3 86,7 118,9 365,7
Operating EBIT
[in EUR million] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) -8,6 3,4 6,1 4,4 5,3 -8,2 1,5 3,7 3,4 0,4 9,5 7,0 1,6 3,1 21,2
GEA Farm Technologies 4,3 11,9 19,5 19,5 55,2 -1,3 6,0 8,6 7,0 20,3 1,0 3,1 8,8 13,4 26,3
GEA Mechanical Equipment2) 27,2 29,9 29,6 39,7 126,4 23,3 19,4 24,7 32,8 100,2 20,8 22,8 33,6 39,7 117,0
GEA Process Engineering 9,5 23,5 25,2 43,6 101,8 8,0 14,2 18,0 35,5 75,7 11,5 17,2 19,8 44,7 93,2
GEA Refrigeration Technologies 5,9 10,0 9,9 15,4 41,2 2,5 6,6 3,1 8,9 21,1 1,9 6,3 7,3 13,9 29,4
GEA Group excluding HX 40,6 71,0 75,4 107,2 294,1 29,4 43,4 52,4 66,3 191,6 29,9 48,5 65,3 104,1 247,9
GEA Heat Exchangers 36,5 49,3 58,4 72,3 216,6 28,5 29,8 37,0 49,0 144,3 24,5 25,1 29,2 40,0 118,8
GEA Group incl. HX 77,1 120,6 133,6 179,1 510,4 57,9 73,3 89,4 121,4 341,9 54,4 73,6 94,5 144,3 366,8
Operating EBIT - Margin
[in %] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) -9,4% 3,4% 6,2% 4,2% 1,3% -9,2% 1,9% 4,5% 4,1% 0,1% 9,4% 7,0% 1,7% 3,0% 5,3%
GEA Farm Technologies 4,6% 9,6% 14,1% 13,2% 10,9% -1,5% 6,1% 7,6% 6,1% 4,9% 1,2% 2,9% 7,4% 9,9% 5,9%
GEA Mechanical Equipment2) 13,8% 15,7% 14,0% 18,8% 15,6% 11,6% 10,8% 15,1% 18,8% 14,0% 13,3% 13,1% 17,4% 19,7% 16,1%
GEA Process Engineering 2,9% 5,9% 6,9% 10,9% 6,8% 3,0% 5,0% 6,5% 11,3% 6,6% 4,5% 5,8% 6,0% 11,1% 7,2%
GEA Refrigeration Technologies 4,5% 6,3% 6,9% 8,7% 6,8% 2,0% 4,8% 2,1% 5,6% 3,7% 1,6% 4,6% 5,3% 8,1% 5,2%
GEA Group excluding HX 5,5% 8,3% 8,9% 11,7% 8,8% 4,4% 6,3% 7,5% 8,8% 6,8% 5,0% 6,9% 8,5% 11,7% 8,4%
GEA Heat Exchangers 9,2% 11,0% 12,1% 13,7% 11,7% 7,4% 7,1% 9,9% 11,1% 8,9% 7,2% 6,8% 8,1% 9,8% 8,0%
GEA Group incl. HX 6,8% 9,3% 10,1% 12,5% 9,9% 5,5% 6,6% 8,4% 10,2% 7,8% 5,8% 6,9% 8,4% 11,2% 8,3%
EBIT reported
[in EUR million] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) -8,6 3,4 6,1 4,4 5,3 -8,2 1,5 3,7 3,4 0,4 9,5 7,0 1,6 3,1 21,2
GEA Farm Technologies 4,1 11,6 18,8 18,8 53,4 -1,6 3,6 7,4 3,1 12,4 0,5 2,2 8,1 9,2 20,0
GEA Mechanical Equipment2) 27,0 29,7 29,4 39,5 125,6 23,0 19,1 22,7 22,7 87,6 20,5 21,0 24,6 37,6 103,8
GEA Process Engineering 9,2 23,1 24,8 43,1 100,2 6,7 10,4 7,8 27,4 52,3 11,1 16,1 19,1 43,9 90,2
GEA Refrigeration Technologies 5,9 9,8 9,7 15,2 40,7 1,8 5,9 1,7 3,9 13,3 1,5 5,3 5,0 0,4 12,2
GEA Group excluding HX 37,6 67,7 71,7 103,5 280,5 24,0 33,7 33,0 33,4 124,2 30,5 40,4 49,3 82,0 202,2
GEA Heat Exchangers 36,4 49,1 58,1 71,8 215,4 27,2 21,8 26,0 48,8 123,8 22,8 13,4 8,9 -15,2 29,9
GEA Group incl. HX 76,1 119,3 131,8 177,1 504,2 53,8 58,1 63,5 92,8 268,2 51,0 56,4 60,8 68,2 236,5
GEA on Roadshows and Conferences - Q2 2014 56
engineering for a better world
Key Figures Time Line (4/6)
GEA on Roadshows and Conferences - Q2 2014 57
EBITDA reported
[in EUR million] Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14
GEA Food Solutions1) 6,2 - - - - - - - - - - - - - - - -
GEA Farm Technologies 5,0 8,4 15,0 16,8 45,2 5,0 11,2 17,8 24,2 58,2 2,8 8,5 17,6 27,8 56,7 6,1 13,1
GEA Mechanical Equipment2) 32,7 31,4 52,1 69,9 186,1 -3,0 43,5 48,3 46,1 134,9 38,6 48,3 56,8 71,0 214,7 42,1 48,4
GEA Process Engineering 20,0 31,2 38,6 73,4 163,2 20,1 39,4 42,7 75,9 178,1 29,4 45,0 46,3 82,5 203,2 30,2 48,8
GEA Refrigeration Technologies 8,9 14,3 14,1 21,7 59,0 11,0 13,4 16,0 24,9 65,2 9,6 16,8 17,1 27,5 71,0 12,4 19,9
GEA Group excluding HX 59,9 78,1 117,9 184,4 440,3 29,4 104,1 123,0 163,5 420,1 71,1 113,8 130,0 200,3 515,2 83,0 123,1
GEA Heat Exchangers 29,5 35,3 46,9 48,6 160,3 32,6 35,9 37,5 61,5 167,5 26,0 36,3 38,4 54,5 155,2 25,8 32,7
GEA Group incl. HX 91,9 116,0 167,4 234,9 610,2 64,7 142,4 162,9 226,9 597,0 98,1 152,4 168,9 240,5 659,8 106,7 151,5
Operating EBIT
[in EUR million] Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14
GEA Food Solutions1) 2,8 - - - - - - - - - - - - - - - -
GEA Farm Technologies 2,1 5,6 12,1 14,0 33,8 1,9 8,2 14,7 21,5 46,3 0,1 5,5 14,4 24,5 44,6 3,1 10,0
GEA Mechanical Equipment2) 28,6 44,4 44,8 64,0 181,7 26,8 42,6 49,1 57,0 175,5 32,7 42,0 50,1 62,8 187,6 34,5 40,8
GEA Process Engineering 16,5 27,6 34,6 69,4 148,2 16,6 35,8 39,1 71,3 162,7 25,7 41,2 42,4 79,0 188,3 26,6 45,0
GEA Refrigeration Technologies 7,1 12,3 11,9 20,1 51,3 8,7 11,1 13,8 22,6 56,2 7,3 14,3 14,7 25,2 61,5 10,0 17,4
GEA Group excluding HX 48,2 83,2 101,9 169,3 402,6 50,7 94,9 115,4 164,7 425,8 55,4 101,0 115,6 186,8 458,8 66,8 109,3
GEA Heat Exchangers 20,8 26,5 37,9 36,7 121,8 24,0 27,6 31,3 52,1 135,0 17,8 29,0 30,0 46,5 123,3 17,6 24,4
GEA Group incl. HX 69,0 109,7 139,8 206,1 524,6 74,7 122,5 146,7 216,8 560,8 73,2 129,9 145,6 233,3 582,1 84,1 133,3
Operating EBIT - Margin
[in %] Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14
GEA Food Solutions1) 2,5% - - - - - - - - - - - - - - - -
GEA Farm Technologies 2,1% 4,7% 8,7% 9,1% 6,6% 1,6% 6,2% 9,3% 12,5% 8,0% 0,1% 4,1% 9,2% 13,9% 7,7% 2,4% 6,5%
GEA Mechanical Equipment2) 14,9% 14,3% 14,1% 17,2% 15,3% 9,9% 13,3% 15,0% 16,3% 13,9% 11,0% 12,6% 14,9% 17,5% 14,1% 11,1% 12,0%
GEA Process Engineering 5,5% 7,2% 8,8% 14,0% 9,4% 4,4% 8,9% 9,2% 13,8% 9,5% 6,5% 9,5% 9,6% 15,0% 10,5% 6,8% 9,6%
GEA Refrigeration Technologies 5,3% 7,4% 7,2% 11,0% 7,9% 5,8% 6,7% 7,8% 11,1% 8,1% 4,8% 7,6% 8,0% 12,0% 8,4% 6,4% 9,2%
GEA Group excluding HX 6,8% 8,6% 10,4% 14,4% 10,5% 5,8% 9,5% 10,9% 13,6% 10,3% 6,0% 9,5% 10,6% 15,0% 10,6% 7,0% 9,8%
GEA Heat Exchangers 6,1% 6,8% 8,9% 7,9% 7,5% 6,2% 6,8% 8,0% 12,3% 8,4% 5,6% 7,5% 7,9% 11,5% 8,3% 5,7% 6,9%
GEA Group incl. HX 6,6% 8,1% 10,0% 12,6% 9,7% 5,9% 8,8% 10,1% 13,4% 9,8% 5,9% 9,0% 10,0% 14,2% 10,1% 6,7% 9,1%
EBIT reported
[in EUR million] Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14
GEA Food Solutions1) 2,8 - - - - - - - - - - - - - - - -
GEA Farm Technologies 1,5 5,0 11,4 13,2 31,1 1,2 7,5 13,9 20,3 42,9 -0,9 4,8 13,7 23,7 41,2 2,3 9,3
GEA Mechanical Equipment2) 28,4 17,6 38,9 60,3 145,2 -12,8 34,5 38,5 21,8 82,1 28,7 38,1 46,1 58,8 171,7 30,5 37,0
GEA Process Engineering 16,1 27,2 34,1 68,8 146,1 15,9 35,0 38,1 70,8 159,8 25,0 40,6 41,8 78,3 185,7 26,0 44,3
GEA Refrigeration Technologies 6,8 10,6 11,1 18,0 46,6 8,2 10,6 13,3 22,0 54,0 6,8 13,8 14,2 24,2 59,0 9,4 16,8
GEA Group excluding HX 44,0 51,1 91,6 160,2 347,0 6,5 82,3 100,1 125,4 314,3 48,1 90,4 106,0 175,1 419,6 58,7 98,7
GEA Heat Exchangers 20,2 25,7 37,2 35,0 118,0 23,4 27,0 30,7 49,2 130,3 17,1 27,1 29,3 42,4 116,0 17,0 23,8
GEA Group incl. HX 66,8 79,3 131,3 197,2 474,6 32,6 111,7 133,1 176,5 453,9 66,2 119,7 135,8 203,2 525,0 73,6 118,2
engineering for a better world
Key Figures Time Line (5/6)
Capital Employed w/o goodwill3) (average LTM)
[in EUR million]Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
GEA Farm Technologies n.a. n.a. n.a. 204,0 204,0 219,7 235,5 241,7 241,4 241,4 250,5 260,9 271,3 284,0 284,0
GEA Mechanical Equipment2) n.a. n.a. n.a. 349,8 349,8 364,3 371,3 374,2 367,7 367,7 346,5 327,9 309,9 300,7 300,7
GEA Process Engineering n.a. n.a. n.a. 270,6 270,6 274,2 276,2 269,7 255,1 255,1 241,1 235,7 237,8 238,9 238,9
GEA Refrigeration Technologies n.a. n.a. n.a. 221,1 221,1 236,8 249,9 258,6 258,7 258,7 244,9 226,6 202,4 177,9 177,9
GEA Group excluding HX n.a. n.a. n.a. 1.063,4 1.063,4 1.097,4 1.117,9 1.113,4 1.094,3 1.094,3 1.078,4 1.071,0 1.066,0 1.069,5 1.069,5
GEA Heat Exchangers n.a. n.a. n.a. 707,3 707,3 757,2 789,7 793,4 752,0 752,0 711,8 687,1 677,7 672,8 672,8
GEA Group incl. HX n.a. n.a. n.a. 1.772,4 1.772,4 1.853,4 1.903,4 1.899,0 1.835,9 1.835,9 1.780,9 1.750,3 1.738,4 1.739,9 1.739,9
ROCE w/o goodwill4) LTM
[in%]Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
GEA Farm Technologies n.a. n.a. n.a. 26,2% 26,2% 21,7% 16,8% 11,6% 5,1% 5,1% 5,8% 5,0% 5,1% 7,1% 7,1%
GEA Mechanical Equipment2) n.a. n.a. n.a. 35,9% 35,9% 33,4% 29,9% 27,9% 23,8% 23,8% 24,5% 26,5% 28,7% 34,5% 34,5%
GEA Process Engineering n.a. n.a. n.a. 37,0% 37,0% 35,7% 30,8% 25,2% 20,5% 20,5% 23,5% 26,4% 31,0% 37,7% 37,7%
GEA Refrigeration Technologies n.a. n.a. n.a. 18,4% 18,4% 15,5% 13,1% 9,5% 5,1% 5,1% 5,3% 5,5% 7,8% 6,9% 6,9%
GEA Group excluding HX n.a. n.a. n.a. 26,4% 26,4% 24,3% 20,8% 17,4% 11,3% 11,3% 12,1% 12,8% 14,4% 18,9% 18,9%
GEA Heat Exchangers n.a. n.a. n.a. 30,5% 30,5% 27,2% 22,7% 18,5% 16,5% 16,5% 16,8% 16,2% 13,8% 4,4% 4,4%
GEA Group incl. HX n.a. n.a. n.a. 28,4% 28,4% 26,0% 22,1% 18,6% 14,6% 14,6% 14,9% 15,1% 15,0% 13,6% 13,6%
GEA on Roadshows and Conferences - Q2 2014 58
Capital Employed w/o goodwill3) (average LTM)
[in EUR million]Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14
GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. - - - - - - - - - - - -
GEA Farm Technologies 288,6 289,7 292,5 297,7 297,7 302,1 308,2 314,8 319,3 319,3 324,7 327,9 327,4 325,4 325,4 322,4 321,2
GEA Mechanical Equipment2) 303,6 481,6 625,8 770,7 770,7 874,7 903,6 929,1 949,5 949,5 966,9 972,6 977,2 985,9 985,9 999,0 1.012,7
GEA Process Engineering 237,4 235,8 238,7 249,0 249,0 273,3 290,0 296,7 286,0 286,0 270,8 262,2 253,5 253,9 253,9 249,4 248,8
GEA Refrigeration Technologies 176,5 187,8 205,4 225,9 225,9 241,8 249,0 253,6 254,7 254,7 255,6 256,1 257,3 259,5 259,5 259,1 261,1
GEA Group excluding HX 1.117,9 1.266,4 1.436,7 1.619,6 1.619,6 1.771,9 1.830,3 1.872,7 1.887,4 1.887,4 1.890,1 1.890,6 1.886,5 1.895,0 1.895,0 1.900,4 1.912,0
GEA Heat Exchangers 680,7 684,2 691,6 694,6 694,6 690,5 688,2 675,9 669,9 669,9 658,2 646,6 641,2 634,7 634,7 639,8 644,3
GEA Group incl. HX 1.796,3 1.949,7 2.128,3 2.314,2 2.314,2 2.462,7 2.518,1 2.548,2 2.556,5 2.556,5 2.546,1 2.534,0 2.523,5 2.525,5 2.525,5 2.536,5 2.553,6
ROCE w/o goodwill4) LTM
[in%]Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14
GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. - - - - - - - - - - - -
GEA Farm Technologies 7,3% 8,3% 9,3% 10,4% 10,4% 10,2% 10,8% 11,3% 13,4% 13,4% 12,6% 11,6% 11,5% 12,7% 12,7% 13,8% 15,2%
GEA Mechanical Equipment2) 36,8% 22,5% 19,6% 18,8% 18,8% 11,9% 13,4% 13,0% 8,6% 8,6% 12,8% 13,1% 13,8% 17,4% 17,4% 17,4% 17,0%
GEA Process Engineering 40,1% 45,1% 50,8% 58,7% 58,7% 53,4% 53,0% 53,2% 55,9% 55,9% 62,4% 66,6% 70,3% 73,2% 73,2% 74,6% 76,5%
GEA Refrigeration Technologies 9,9% 12,2% 14,1% 20,6% 20,6% 19,8% 19,2% 19,7% 21,2% 21,2% 20,6% 21,8% 22,1% 22,7% 22,7% 23,8% 24,8%
GEA Group excluding HX 19,3% 17,9% 18,7% 21,4% 21,4% 17,5% 18,6% 18,6% 16,7% 16,7% 18,8% 19,3% 19,6% 22,1% 22,1% 22,6% 22,9%
GEA Heat Exchangers 4,0% 5,8% 9,8% 17,0% 17,0% 17,6% 17,8% 17,2% 19,4% 19,4% 18,8% 19,2% 19,1% 18,3% 18,3% 18,1% 17,5%
GEA Group incl. HX 14,0% 14,1% 16,2% 20,5% 20,5% 17,9% 18,8% 18,6% 17,8% 17,8% 19,2% 19,6% 19,7% 20,8% 20,8% 21,0% 20,8%
engineering for a better world
Key Figures Time Line (6/6): Remarks
1) All historical figures for GEA FS before Q2 2011 are pro-forma figures only and haven't been audited due to the fact that GEA
FS's Financial Year was ending end of February. The listed historical figures before Q2 2011 are not included in the Group-
numbers of the corresponding period.
2) Since Q2 2011 GEA ME figures includes GEA FS
3) Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999.
4) ROCE LTM = EBIT reported (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the
former Metallgesellschaft AG in 1999 (average LTM).
GEA on Roadshows and Conferences - Q2 2014 59
engineering for a better world
ADR Information
GEA on Roadshows and Conferences - Q2 2014
GEA Group has a sponsored level I ADR program
Ratio: 1 ADR = 1 Ordinary share
Bloomberg ticker: GEAGY:US
CUSIP: 361592108
ISIN: US3615921083
Depositary bank: Deutsche Bank Trust Company Americas
Depositary bank contacts: ADR broker helpline
Tel: +1 212 250 9100 (New York)
Tel: +44 207 547 6500 (London)
Email: adr@db.com and website: www.adr.db.com
Depositary bank’s local custodian: Deutsche Bank Frankfurt
60
engineering for a better world
Investor Relations Contact
GEA on Roadshows and Conferences - Q2 2014
Donat von Müller
+49 211 9136 1080
donat.vonmueller
@gea.com
61
Dr. Helmut Schmale
CFO
+49 211 9136 1492
ir@gea.com
Axel Wolferts
+49 211 9136 1490
axel.wolferts
@gea.com
Rebecca Grabotin
+49 211 9136 1081
rebecca.grabotin
@gea.com
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