conference call call presentation 17q2_tcm40... · q3 12 q3 13 q3 14 q3 15 q3 16 0% 20% 40% 60% 80%...

Conference Call

Results Q2 2017

DÜSSELDORF, 26 JULY 2017

This presentation contains forward-looking statements. Forward-looking statements may include, in

particular, statements about future events, future financial performance, plans, strategies, expectations,

prospects, competitive environment, regulation and supply and demand. Statements with respect to the

future are characterized by the use of words such as "expect", "intend", "plan", "anticipate", "believe",

"estimate" and similar terms. 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 materially from the estimates given here.

Factors that could cause such a divergence include, inter alia, 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. Given these uncertainties,

readers should not put undue reliance on any forward-looking statements. We undertake no obligation

to update or revise any 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

2GEA Conference Call Presentation Q2 2017

1. Results Q2 2017

2. Financials Q2 2017

3. Outlook FY 2017

3

Key figures Q2 2017

Executive Summary


1Operating ROCE L4Q = operating EBIT (L4Q) / Capital employed excluding EUR ~800m goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L12M)

Op. ROCE1

19.4%

Δ -528 bps YoY

Op. CFD Margin

7.0%

Δ -416 bps YoY

Order Intake

(EURm)

1,241

Δ +1.6% YoY

Sales

(EURm)

1,138

Δ -1.6% YoY

Op. EBITDA

(EURm)

122

Δ -15.7% YoY

Operating

EBIT (EURm)

102

Δ -18.6% YoY

GEA on February 6th, 2017 announced:

• Share buyback of up to EUR 450m

• To be executed within a year starting in March 2017

• Repurchased shares to be cancelled

• Current # of shares outstanding 192.5m

Status as per Friday, July 21st:

• Total shares bought back since March 8th: 8,448,235

• Average purchasing price: EUR 37.97

• ~70% of EUR 450m have been spent so far

Link to the interim reporting of the share buy back program:

http://www.gea.com/de/investoren/share-information/aktienruckkauf/index.jsp

Share buyback program


http://www.gea.com/de/investoren/share-information/aktienruckkauf/index.jsp

Strategic projects to complete OneGEA


Steering Systems

• OneGEA Finance

• Project Database

• HR software (Workday)

• Common CRM (also enhances

pipeline visibility)

Operational Excellence

• Manufacturing footprint

• Procurement Excellence

• OneEngineering

Digitalization @ GEA

• Processes

• Products/services

IT-Excellence

• IT Platform outsourcing (Platform as a

Service)

Current Strategic Projects (“below the line”) Cash Expenditures (P&L and CapEx)


in €m P&L2) CapEx P&L

2) CapEx P&L2) CapEx

Steering Systems ~ 20 ~ 25 ~ 10 ~ 15 ~ 30 ~ 40

Operational Excellence ~ 20 ~ 20 ~ 25 ~ 30 ~ 45 ~ 50

IT Excellence ~ 15 ~ 10 ~ 5 ~ 20 ~ 10

Digitalization ~ 2 ~ 3 ~ 5

Total ~ 57 ~ 55 ~ 43 ~ 45 ~ 100 ~ 100

20171)

20181) Total

1) spending could partially be delayed into the subsequent year2) "below the line", i.e. adjusted for in operating EBITDA

OneGEA manages businesses across legal entitiesOneGEA Finance reports data accordingly

Products, Applications,

Services

Regio

ns / C

ou

ntr

ies

Managers of

Products (BA-E), or

Applications (BA-S), or

Service categories

8

?

GEA Conference Call Presentation Q2 2017

Various product groups / applications

GEA until 2015 One GEA

Ma

na

ge

rs o

f

Reg

ion

s o

r

Co

un

trie

s

Example: „How

much money

do we make with

dairy separators

in the US?“

Sa

les

in

va

rio

us

co

un

trie

s

Ac

ros

s c

ou

ntr

ies

Across products and applications

Example: „How

much money

do we make

in company XYZ

located in country

ABC?“

• Central view on KPIs of

individual legal entities

without granularity

• No view across legal entities

by application, product or

service category

OneGEA Finance enables all GEA managers to more effectively steer in the OneGEA Organization

• Migration to OneGEA

organization, involving

>200 legal entities

• Heterogeneous

reporting dimensions

and processes

across legal entities

• Limited central

accessibility of

financial details

on legal entity level

• High complexity due

to variety of local

Finance systems

• Overall low level of

reporting automation

17Q2

Primary Costs

by Organizational Units

(Total Cost Method)

Overhead Costs

by Organizational Units

(Cost of Sales Method)

Sales & Gross Margin

by Product Groups /

Applications / Services

(Cost of Sales Method)

2016/2017 2018/2019 Target StateStarting situation

Legal entity

review

(e.g. systems)

Global

cost center

structure

Continuous improvements

(e.g. process automation, cost data granularity and drill-down

functionality, harmonization of accounting and master data, etc.)

• Financial steering dimensions

aligned with organizational

structure

• Harmonized structures &

reporting across legal entities

• Central transparency on

Sales and Gross Margin

for Products / Applications /

Services across countries

• Central transparency on

Total Costs in each

OneGEA Org. Unit

• Increased granularity

of Overhead Costs

by OneGEA Org. Unit

• Higher efficiency and

automation in reporting

processes

GEA Conference Call Presentation Q2 2017 9

Action until End of 2018 Targeted status 2020

Timeline for the OneGEA ERP Project


Targeted status 2023

Perf

orm

ance

Scalability

Perf

orm

ance

Scalability

Perf

orm

ance

Scalability

OneGEA

ERP

Step 1:

• Migration of the weakest

platforms has already started

• Platforms to be migrated into

existing better solutions which

can be further migrated in the

second step with much less

effort

Step 2:

• Consolidating the number of

platforms onto the best existing

ones

• 80% of GEA is aimed to run on

SAP platforms by the end of

2020

Step 3:

• Eventually, consolidation into

only one common high

performance platform

• OneGEA ERP (SAP, Cloud

solutions) to be fully

operational from 2023

onwards

Weakest platforms

Interim solution

Existing well performing platforms

One high performance uniform platform

‘One for all’

1. Results Q2 2017


3. Outlook FY 2017

11

86 97

62 35

0 €m

50 €m

100 €m

150 €m

200 €m

Q2 16 Q2 17

BA Equipment BA Solutions

571 586

634 602

0 €m

400 €m

800 €m

1,200 €m

1,600 €m

Q2 16 Q2 17


617 622

659 672

0 €m

500 €m

1,000 €m

1,500 €m

Q2 16 Q2 17


Δ

ΔΔ

Key figures and change YoY Q2 2017


1 Please note that the difference between the sum of the BAs and the Group is explained by consolidation/others; 2 Adjusted = before currency translation and structural effects

Order Intake1

Operating EBITDA MarginOperating EBITDA1

Sales1

1,222 1,241

1,157 1,138

145122

+1.6% -1.6%

-15.7%

+0.8%

+2.0%

adjusted2: +0.6% adjusted

2: -2.5%

+2.6%

-5.0%

+12.6%

-43.1%

adjusted2: -15.7%

Q2 16 Q2 17 Δ YoY

BA Equipment 15.1% 16.5% 148 bps

BA Solutions 9.7% 5.8% -391 bps

GEA Group 12.6% 10.8% -180 bps

12.0% 11.9%12.6%

13.4%13.7%

12.0%

10.3% 10.3%10.9%

11.6% 11.9%

10.2%

0%

2%

4%

6%

8%

10%

12%

14%

16%

2,500 €m

3,000 €m

3,500 €m

4,000 €m

4,500 €m

5,000 €m

5,500 €m

Q2 12 Q2 13 Q2 14 Q2 15 Q2 16 Q2 17

Order Intake L4Q Sales L4Q Operating EBITDA Margin L4Q Operating EBIT Margin L4Q

Order Intake, Sales, Operating Margins


Order intake development by size


773 765835 791 791 765 799

718805 754

812 758 788

170 174

182163 190

158201

194

193156

221211

228

103 68

8791

112

48

128

96

179

137

79116

89123 160

5483

55

97

118

136

46

36

11150

1361,170 1,168 1,158

1,127 1,149

1,068

1,246

1,144

1,222

1,084

1,223

1,136

1,241

0 €m

200 €m

400 €m

600 €m

800 €m

1,000 €m

1,200 €m

1,400 €m

Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17

< €1m >= €1m < €5m >= €5m < €15m >= €15m

Order intake split as of Q2 2017 L4Q: Top 20 countries account for 74% of GEA‘s order intake

15

More than 5%

Betw een 1% and 5%

Betw een -1% and 1%

Betw een -5% and -1%

Less than -5%


32% of order intake

31% of order intake

0% of order intake

6% of order intake

31% of order intake

Country Share of total order intake Growth y/y BtB

USA 16% 1.01

Germany 9% 1.08

China 7% 0.89

France 4% 0.95

Canada 4% 1.99

Netherlands 3% 0.85

Great Britain 3% 0.97

Russia 3% 1.15

India 3% 1.15

New Zealand 3% 1.75

Spain 3% 0.90

Italy 2% 1.33

Mexico 2% 1.23

Poland 2% 0.81

Australia 2% 1.00

Brazil 2% 1.09

Japan 2% 1.04

Indonesia 2% 1.38

Belgium 2% 0.79

South Africa 2% 1.25

Emerging Markets 37% 1.03

GEA 100% 1.03

Reported order intake development YoY/QoQ as of Q2 2017


Less than -5% Between -5% and -1% Between -1% and 1% Between 1% and 5% More than 5%

Q2 17 L4Q Share of order intake

Q/Q Y/Y Y/Y Q2 17 L4Q BtB L4Q

Dairy Farming 13% 1.05

Dairy Processing 18% 0.95

Food 28% 1.09

Beverages 11% 0.89

Food & Beverages 70% 1.01

Pharma 8% 1.16

Chemical 7% 1.05

Pharma/Chemical 15% 1.11

Oil & Gas 1% 0.85

Marine 2% 0.90

Others 12% 1.12

Other Industries 15% 1.06

GEA 100% 1.03

Q2 17 Quarter selective

0%

20%

40%

60%

80%

100%

120%

140%

160%

Q3 12 Q3 13 Q3 14 Q3 15 Q3 16

0%

20%

40%

60%

80%

100%

120%

140%

160%

L4Q order intake and sales indexed since Q2 2012

17

Ord

er

Inta

ke

Sa

les


CAGR Q2 12 - Q2 17:

Food 4%

Beverages 0%

GEA 2%

CAGR Q2 12 - Q2 17:

Pharma/Chemical 4%

Other Industries 1%

GEA 2%

CAGR Q2 12 - Q2 17:

Dairy Farming 2%

Dairy Processing -1%

GEA 2%

CAGR Q2 12 - Q2 17:

Food 4%

Beverages -2%

GEA 2%

CAGR Q2 12 - Q2 17:

Pharma/Chemical 5%

Other Industries 2%

GEA 2%

Q3 12 Q3 13 Q3 14 Q3 15 Q3 16 Q3 12 Q3 13 Q3 14 Q3 15 Q3 16

CAGR Q2 12 - Q2 17:

Dairy Farming 1%

Dairy Processing 2%

GEA 2%

Book-to-Bill ratios L4QShare of L4Q Order Intake


BtB ratio L4Q

Asia

Pacific

DACH

& Eastern

Europe

Western EU

& Middle

East/Africa

Northern &

Central

Europe

Latin

America

North

America Total

Dairy Farming 1.08 1.04 1.05 0.98 1.02 1.08 1.05

Dairy Processing 1.34 0.84 0.75 0.73 1.34 0.69 0.95

Food 1.05 1.14 1.02 0.95 0.91 1.34 1.09

Beverages 0.86 1.25 0.56 0.88 0.80 0.99 0.89

Pharma 0.93 1.94 1.34 0.78 0.73 1.29 1.16

Chemical 1.16 1.08 0.78 0.66 3.02 0.74 1.05

Oil & Gas 1.36 0.71 0.81 0.74 1.40 0.86 0.85

Marine 0.65 0.98 1.24 0.98 1.14 1.13 0.90

Others 0.89 0.98 1.04 0.96 1.45 1.48 1.06

Total 1.07 1.10 0.92 0.87 1.18 1.11 1.03

Share of L4Q OI

Dairy Farming 1% 3% 1% 1% 1% 5% 13%

Dairy Processing 6% 4% 2% 2% 2% 2% 18%

Food 6% 5% 6% 3% 2% 6% 28%

Beverages 3% 3% 1% 1% 1% 2% 11%

Pharma 2% 2% 1% 1% 0% 1% 8%

Chemical 3% 1% 1% 0% 1% 1% 7%

Oil & Gas 0% 0% 0% 0% 0% 0% 1%

Marine 1% 0% 0% 1% 0% 0% 2%

Others 3% 2% 4% 2% 1% 3% 15%

Total 24% 20% 17% 12% 7% 20% 100%

2,137 2,185

2,038

2,2562,195 2,148

2,054

2,2292,359 2,324

2,2642,389 2,410

0 €m

500 €m

1,000 €m

1,500 €m

2,000 €m

2,500 €m

3,000 €m

Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17

Order backlog development


1.02 1.01 1.00 1.01 1.00 0.99 1.00 1.02 1.03 1.04 1.04 1.02 1.03

L4Q BtB ratio#

ROCE development


ROCE = EBIT (L4Q) / Capital employed excluding EUR ~800m goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L12M)

Op. ROCE = op. EBIT (L4Q) / Capital employed excluding EUR ~800m goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L12M)

1,912 1,929 1,943 1,974 2,0072,053

2,120 2,1372,188

2,2342,293

2,370 2,391

22.9% 23.2%22.6% 22.7%

16.4%

14.5% 14.6% 14.1%

19.7%18.7%

16.9% 16.5%

15.1%

25.7% 25.4% 25.0% 24.7%

22.8%

21.1%20.5%

19.4%

0%

5%

10%

15%

20%

25%

30%

0 €m

500 €m

1,000 €m

1,500 €m

2,000 €m

2,500 €m

Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17

Capital Employed (average L12M) ROCE op. ROCE

Working capital to sales ratio


590548

424

588 583632

547591

651

725750 760

706

13.4%

12.3%

9.4%

12.9% 12.7%

13.8%

11.9%

13.0%14.3%

16.0%16.7% 16.7%

15.6%

11.9% 12.1% 12.1% 12.2% 12.3% 12.6%13.1%

13.1%

13.2%13.5%

14.5%

15.4%16.1%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

0 €m

200 €m

400 €m

600 €m

800 €m

1,000 €m

1,200 €m

Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17

WC as of reporting date WC as of reporting date as % of sales (L4Q) WC (average L12M) as % of sales (L4Q)

Working capital development


€m Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Δ YoY Δ QoQ

+ Inventories 613 639 645 611 671 664 25 -7

Trade receivables w/o POC 669 762 767 929 839 830 68 -8

Advance Payments w/o POC 239 247 237 207 225 251 4 26

+ Net trade receivables w/o POC 430 515 530 722 614 579 64 -34

POC receivables 399 430 442 461 442 493 62 50

POC liability 342 377 367 420 399 430 53 32

+ Net POC receivables 58 54 75 41 44 62 9 19

- Trade payables 509 556 526 624 568 600 44 32

= Working Capital 591 651 725 750 760 706 54 -54

Cash Flow Driver Margin as of Q2 2017


EBITDA (L4Q) Capex (L4Q) ∆ Working Capital (Average L12M)

Sales (L4Q) Sales (L4Q) Sales (L4Q)

- - +

1 Operating Cash Flow Driver Margin is based on operating EBITDA, not on reported EBITDA, and on capex, adjusted for strategic projects

1

-19 -38 -41 -47 -43 -39 -54 -35 -31 -37 -48-108 -134

536 546 540 550

433 404 430 422

553 543 501 506 476

-123 -114 -94 -92 -87 -82 -91 -87 -86 -92 -91

-98 -112

9.0% 8.8% 9.0% 9.0%

6.6%6.2% 6.2%

6.6%

9.6%9.1%

8.0%

6.6%

5.1%

10.7%10.3%

10.9% 11.1%

10.2%9.5%

8.0%

7.0%

0%

2%

4%

6%

8%

10%

12%

-200 €m

0 €m

200 €m

400 €m

600 €m

800 €m

Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17

Delta Working Capital (average L12M) EBITDA (L4Q) Capex (L4Q)

Cash Flow Driver Margin op. Cash Flow Driver Margin

1

Net liquidity per June 2017


Net Liquidity reconciliation

[EURm]

Capex

Taxes -66.6

Interests 5.4

-112.2

Delta Working Capital -81.3

Operating EBITDA 546.0

Net Cash 30.06.2016 613.8

-261.1

Dividend -152.8

Effects from Acquisitions -6.2

Discontinued Operations -16.2

Net Debt bef. DOP, M&A and Dividend 780.0

Others

cash out "F2020" -92.9

Net Cash 30.06.2017 343.7

Share buy back program

-32.2

D +EUR 259m

excl. cash out

“F2020”

1,362

877

521

1,410

909

542

0 €m

200 €m

400 €m

600 €m

800 €m

1,000 €m

1,200 €m

1,400 €m

1,600 €m

GEA BA Equipment BA Solutions

Q2 16 L4Q Q2 17 L4Q

Service business as of Q2 2017 L4Q: 31% of sales


Note: adjusted = before currency translation and structural effects

30% 31% 39% 39% 21% 22%

adjusted: +3%

+4%

adjusted: +3%

+4%

adjusted: +3%

+4%

1. Results Q2 2017


3. Outlook FY 2017

26

FY 2017 Outlook – ad hoc publication July 15, 2017


We are aiming for, in the absence of:

• any further weakening of global economic growth and

• in particular, material weakening in any of our relevant customer industries, or adverse shifts in

demand among those industries resulting in a negative margin impact

• material adverse currency (translation or competitive) impacts

Operating EBITDA (adjusted for

strategic projects) (EURm)

600 – 640

Before additional cost for bottling projects

* No deterioration of margin range expected despite

bottling projects impact

Operating Cash Flow Driver Margin

(based on operating EBITDA and on

Capex adjusted for strategic projects)

8.5% to 9.5%*

Unchanged from original guidance

Sales (in reported terms)

Moderate growth

Unchanged from original guidance

Cf. p. 15 Q2 17 report

http://www.gea.com/en/binaries/2017.07.26.%20Q2%20report%20GEA_tcm11-38613.pdf

Including the bottling projects, operating EBITDA for FY 2017 is expected between €573m and €633m


Reconciliation of expectation operating EBITDA

as per ad hoc announcement to forecast operating EBTIDA as per HGB* (in €m) From To

Expectation operating EBITDA as per the ad hoc announcement (July 15, 2017) 600 640

Expense for bottling lines recognized in first half year -7 -7

Risk of additional costs for bottling lines -20 0

Operating EBITDA as per forecast (HGB) 573 633* Handelsgesetzbuch (German Commercial Code)

http://www.gea.com/en/binaries/2017.07.26. Q2 report GEA_tcm11-38613.pdf

Additional Financial Information for FY 2017


Depreciation &

Amortization

(incl PPA)

(EURm)

around

120

Thereof

impact from

PPA in 2017

(EURm)

around

30

Interest

Expense

Financial

Liabilities

(EURm)

below

10

Dividend Policy

Payout ratio

40% -

50%of net income

Working Capital

Average L12M

(of sales L4Q)

Between

15.7% -

16.2%(previously

15.7% – 16.7%)

Target Capex

Level

(of sales)

Operating

max.

2%(as used in

op. CFD

outlook)

Additional

capex for

strategic

projects

~€55m

Tax Rate

around

22%1

1 Will successively increase in subsequent years; tax rate applies subject to the condition that tax law in GEA countries will not change

2017

July 27-28, 2017 Roadshow UK London Citi

Aug 23, 2017 Conference Finland Helsinki Deutsche Bank

Aug 24, 2017 Conference Sweden Stockholm SEB

Aug 25, 2017 Roadshow Norway Oslo Barclays

Aug 29-30, 2017 Conference Germany Frankfurt Commerzbank

Sep 7-8, 2017 Conference UK London Morgan Stanley

Sep 19, 2017 Roadshow Austria Vienna Commerzbank

Sep 20-21, 2017 Conference Germany Munich Baader

Investor Relations CalendarUpcoming Roadshows and Conferences


Investor Relations CalendarPlease note the change in the Financial Calendar


2017

Nov 3, 2017

(new date)Quarterly Financial Report for the period to September 30, 2017

Backup Additional Slides related to the Preliminary Q2 17 Call

32

EBITDA bridge Q2 2016 to Q2 2017

33

EBITDA

Q2 17

122.4

Other

1.2

FX impact

& financial

result

4.9

Net other

income/

(expenses)

1.0

Administration

expenses

10.1

Selling

expenses

1.6

R&D

expenses

2.9

Gross

Margin

EBITDA

Q2 16

145.2

At 5.5% of order

intake, in line with Q2

2016

SSC steady state costs

and indirect temporary

workforce

EURm


• 8.5 EURm Margin

improvement

• (5.2) EURm volume

impact

• (4.7) EURm bottling

projects

1.2

EBITDA bridge H1 2016 to H1 2017

34

EBITDA

H1 17

218.8

Other

0.1

FX impact

& financial

result

0.0

Net other

income/

(expenses)

5.1

Administration

expenses

13.0

Selling

expenses

16.3

R&D

expenses

3.3

Gross

Margin

17.3

EBITDA

H1 16

239.1

EURm


• +14,8 EURm volume

• +7.7 EURm Margin

improvement

• (5.2) EURm bottling

projects

Partly driven by service ramp-

up, also including indirect

temporary workforce

SSC steady state costs

and indirect temporary

workforce

Other income H1 2017 was

lower than in H1 2016.

Catch-up expected

Key figures | projection lower vs. higher end scenario outlook (ad-hoc)


Lower end outlook (ad-hoc)

Higher endoutlook (ad-hoc)

EURm

H1 2017 H2 2017 Total H1 2017 H2 2017 Total

Sales

Gross Margin(excl. bottling projects)

in % of sales

Overhead(incl. net other income (expenses), FX

impact & financial result, adj. forD&A, PPA)

Op. EBITDA(excl. bottling projects)

in % of sales

82032.0%

2,5606.9% YoY growth

41416.2%

(406)

1,50332.0%


64013.6%

(863)

68331.9%


22610.6%

(457)

78431.7%


37415.1%

(410)

1,46731.8%


60013.0%

(867)

68331.9%


22610.6%

(457)

H1 summary & H2 projection forlower end scenario outlook (ad-hoc)


H1 phasing

BA Solutions

BA Equipment

Subtotal

Op. EBITDA

Consolidation

Overhead2

5 bottling projects

1,122

1,117

2,142

-97

Sales abs.

Op. EBITDA (excl. bottling projects)

219

(457)

7

676

GM abs.

226

1,315

1,250

2,470

Sales abs.

~46%

~47%

Sales rel. GM rel.

784

GM abs.

H2 projection

374

-95

(410)

Total Op. EBITDA (H2 simulated) 600

GM rel.EURm

31.6% (31.9%)1

31.8%

1. Excluding bottling projects 2. incl. net other income (expenses), FX impact & financial result, adj. for D&A, PPA

1

2

3 4

5

Topline Analysis BA SOLUTIONS

37

Backlog Analysis Sales Phasing Analysis

EURmEURm

+0.6%

Q2 2017

1,795

Q2 2016

1,78353%

2015

2,475

46%

54%

2014

2,404

46%

54%

2013

2,338

46%

54%

Average

(13-16)

2,411

46%

54%

2016

2,426

47%

Project-by-project Analysis

Backlog profile Q2 2017

supports higher sales

conversion rate than

Q2 2016

Sales phasing 2016 was distorted by

(customer-induced) execution delays

in larger dairy projects

Detailed project-by-project

assessment based on

scheduled project

milestones

H1H2

Supports moderately

higher growth for H2 2017


1

1

Topline Analysis BA EQUIPMENT

38

616 667

Q2 2016

+8.3%

Q2 2017 2015

2,324

48%

52%

2014

2,308

46%

54%

2013

2,164

46%

54%

47%

2016

2,262

53%

47%

2,264

Average(13-16)

53%

H1H2

Current YTD sales at

1,117 m€ are 5.2%

above prior year and

support moderate

growth assumption

Backlog Analysis Sales Phasing Analysis Project-by-project Analysis

EURmEURm


2

2

GEA Group Sales & Gross Margin Development


2,156

H1 2015

2,098

H1 2016

2,3942,443

H2 2015 H1 2017

2,142

H2 2016 H2 2017

31.8% 32.7%31.5%1

(31.4%)231.6%1

(31.9%)2

31.9%1

(30.9%)2

1. Adjusted for additional cost in special projects (in 2017 only bottling projects)2. All-in Gross Margin

≥31.8%

Development consistently showed an upswing in second half of a year

Gross

Margin

Sales

in EURm

3 4

Strict commitment to saving

targets by our managers

R&D expenses usually reviewed

for capitalization towards end of

the year

Engineers will shift from quotation

work (selling exp.) to project

execution (CoGS)

Income from subsidiaries is paid

towards the end of the year

Overhead projection for lower end scenario outlook (ad-hoc)

40

Cost

reduction

drivers


Saving

measures

package

Capitalization

of R&D

Utilization

shift H2

Income from

subsidiaries &

other income

1

2

3

4

H1 16

419

H2 16

413

H1 17

457

H2 17

projection

410

Overhead(incl. net other income (expenses), FX impact &

financial result, adj. for D&A, PPA)

5

Performance issues with 1st version bottling technology limited to 5 projects (total order volume ~EUR30m)

41

2013-20152008/9-2012

Development &

Testing

Internal project to

develop a

completely new

bottling

technology

Five projects,

based on a first

version of this new

bottling technology,

with a single digit

million contract

value each, were

sold in the period

2013-2015

Performance issues

with this first version

led to a stop of its

marketing early

2016. Based on a

modified version,

the bottling

technology is still

considered to be

valuable

Performance

issues

2015

Sale of 5

projects

2016-2017

Further technical

difficulties

Further technical

difficulties with the

first version

emerged in 2016

(also mentioned in

analyst call Oct’16).

In 2017, GEA

realized that for

some projects the

then planned

measures were

likely to be insuffi-

cient to fully achieve

targeted KPIs.

2017-2018

Agreements &

completion

Agreements to

rectify the technical

issues have been

reached with two

customers and

solutions are

expected to be

reached within 2017

for the remaining

customers. All

projects expected to

be completed by

2018.

Stop of

marketing

Final

acceptance


H1 2017

Financial impact of these five projects

42

~ EUR 7m

Additional

remaining

risk

The expenses in relation to the five projects are included in the operating EBITDA2 and will be shown

as a separate line.

EBITDA impact (EURm)

1. Excluding a potential EUR6.5m non-cash impairment on the technology

2. As defined in the annual report 2016, page 206

Up to

EUR 20m1

The YTD impact includes:

o the actual project costs for H1 2017

o additional provisions for GEA’s best estimate of its

costs to complete the projects

Potential risk that further measures would be required to

rectify the technical challenges and that GEA might face

additional customer claims


Appendix

43

GEA – Q2 2017 figures


1 Adjusted = before FX and structural effects; 2 Op. ROCE (L4Q) = op. EBIT (L4Q) / Capital employed excluding EUR ~800m goodwill from the acquisition of the former GEA AG by the former

Metallgesellschaft AG in 1999 (average L12M)

Sales by Customer

Industry

Order Intake Development by SizeOrder Intake, Sales and Op. EBIT Margin (L4Q)

Sales by Region

10.3%

10.9%11.6% 11.9%

10.2%

6%

7%

8%

9%

10%

11%

12%

3,900 €m

4,200 €m

4,500 €m

4,800 €m

Q2 13 Q2 14 Q2 15 Q2 16 Q2 17

Order Intake Sales Operating EBIT Margin

722 724 747 754 773 765 835 791 791 765 799 718805 754 812 758 788

234 167211 160 170 174

182163 190

158201

194193

156221

211 228

102132 67 88 103 68

8791 112

48

12896

179

13779

116 89162

144 12122

123 16054

83 5597

118

136

46

36111

50136

1,2201,1681,144

1,024

1,1701,1681,1581,1271,1491,068

1,2461,144

1,222

1,084

1,2231,136

1,241

0 €m

400 €m

800 €m

1,200 €m

Q2 13 Q2 14 Q2 15 Q2 16 Q2 17

< €1m >= €1m < €5m >= €5m < €15m >= €15m

13%

20%

27%

12%

14%

14%

Sales L4Q

as of Q2 17

EUR 4,536m

23%

19%

6%19%

14%

19%

Asia-Pacific -4% YoY -5% adj. YoY

DACH & Eastern Europe -8% YoY -9% adj. YoY

Latin America +12% YoY +4% adj. YoY

North America +4% YoY +2% adj. YoY

Northern/Central Europe -7% YoY -5% adj. YoY

Western Europe, M. East/Africa +12% YoY +8% adj. YoY

GEA -0% YoY -2% adj. YoY

Sales L4Q

as of Q2 17

EUR 4,536m

Dairy Farming -4% YoY

Dairy Processing -7% YoY

Food +15% YoY

Beverages -10% YoY

Pharma/Chemical +3% YoY

Other Industries -6% YoY

GEA -0% YoY

[ in EU R mill ion] Q2 16 Q2 17 ∆ Y oY L4 Q Q2 16 L4 Q Q2 17 ∆ Y oY

Order Int ake 1.6% 0.1%

ad just ed1

0.6% -1.9%

Sales -1.6% -0.1%

ad just ed1

-2.5% -1.7%

Order B acklog 2,359.0 2 ,4 0 9 .9 2.2% 2,359.0 2 ,4 0 9 .9 2.2%

Operat ing EB ITD A 145.2 12 2 .4 -15.7% 622.6 54 6 .0 -12.3%

Operat ing EB ITD A M arg in 12.6% 10 .8 % -180 bps 13.7% 12 .0 % -167 bps

Operat ing EB IT 125.2 10 1.9 -18.6% 539.8 4 6 3 .7 -14.1%

Operat ing EB IT M arg in 10.8% 8 .9 % -187 bps 11.9% 10 .2 % -166 bps

Operat ing R OC E2

24.7% 19 .4 % -528 bps 24.7% 19 .4 % -528 bps

4,680.2 4 ,6 8 4 .3

4,540.9 4 ,53 6 .1

1,222.1 1,2 4 1.1

1,156.9 1,13 8 .5

BA Equipment – Q2 2017 figures




Sales by Customer

Industry


Sales by Region

11.8%12.5%

13.5%14.6% 14.4%

0%

2%

4%

6%

8%

10%

12%

14%

16%

1,000 €m

1,200 €m

1,400 €m

1,600 €m

1,800 €m

2,000 €m

2,200 €m

2,400 €m

2,600 €m

Q2 13 Q2 14 Q2 15 Q2 16 Q2 17


518 513 501 539 538 528 538 560 548 522 552 514 551 522 556 550 566

45 35 4230 32 30 27 27 25

2435

4825

3242 53 36

571 573 553 575 570 565 586 587 573547

587 570617

562598

622 622

0 €m

100 €m

200 €m

300 €m

400 €m

500 €m

600 €m

700 €m

Q2 13 Q2 14 Q2 15 Q2 16 Q2 17

< €1m >= €1m < €5m >= €5m < €15m >= €15m

27%

10%

30%

7%

7%

19%

Asia-Pacific +9% YoY +9% adj. YoY

DACH & Eastern Europe +2% YoY +0% adj. YoY

Latin America +11% YoY +13% adj. YoY

North America +0% YoY -1% adj. YoY


Western Europe, M. East/Africa -1% YoY -2% adj. YoY

BA Equipment +2% YoY +2% adj. YoY

21%

22%

6%23%

12%

16%

Sales L4Q

as of Q2 17

EUR 2,318m

Sales L4Q

as of Q2 17

EUR 2,318m

Dairy Farming -4% YoY

Dairy Processing +6% YoY

Food +3% YoY

Beverages +14% YoY

Pharma/Chemical +18% YoY


BA Equipment +2% YoY


Order Int ake 0.8% 3.5%

ad just ed1

-0.3% 2.7%

Sales 2.6% 2.1%

ad just ed1

1.6% 1.7%

Order B acklog 615.6 6 6 7.0 8.3% 615.6 6 6 7.0 8.3%

Operat ing EB ITD A 86.0 9 6 .9 12.6% 388.3 3 9 1.4 0.8%

Operat ing EB ITD A M arg in 15.1% 16 .5% 148 bps 17.1% 16 .9 % -21 bps

Operat ing EB IT 72.1 8 2 .4 14.3% 332.1 3 3 2 .7 0.2%

Operat ing EB IT M arg in 12.6% 14 .1% 145 bps 14.6% 14 .4 % -27 bps

Operat ing R OC E2 21.6% 2 1.2 % -40 bps 21.6% 2 1.2 % -40 bps

617.2 6 2 2 .0 2,321.1 2 ,4 0 2 .9

570.9 58 5.5 2,270.6 2 ,3 17.6

20198

4182176

1188 18

BA Solutions – Q2 2017 figures




Sales by Customer

Industry


Sales by Region

9.0%9.4%

10.1%9.5%

5.6%

-1%

1%

3%

5%

7%

9%

11%

1,250 €m

1,500 €m

1,750 €m

2,000 €m

2,250 €m

2,500 €m

2,750 €m

Q2 13 Q2 14 Q2 15 Q2 16 Q2 17


253 257 290 268 288 279348

278 296 295 293 252307 278 316

258 274

189 133170

130 138 146

155

137166 133 166

146

168125

179

158192

95124

5682

103 61

66

91112

48

128

88

138

129

79

9770

162127 121

22

123 16054

8355

97

118

136

46

36

111

50

136

698641 636

502

652 647 622588

629574

705

622659

569

685

564

672

0 €m

100 €m

200 €m

300 €m

400 €m

500 €m

600 €m

700 €m

800 €m

Q2 13 Q2 14 Q2 15 Q2 16 Q2 17

< €1m >= €1m < €5m >= €5m < €15m >= €15m

28%

23%17%

21%

11%25%

17%

7%15%

16%

21%

Asia-Pacific -12% YoY -13% adj. YoY

DACH & Eastern Europe -17% YoY -18% adj. YoY

Latin America +12% YoY -4% adj. YoY

North America +10% YoY +8% adj. YoY


Western Europe, M. East/Africa +23% YoY +16% adj. YoY

BA Solutions -2% YoY -5% adj. YoY

Sales L4Q

as of Q2 17

EUR 2,419m

Sales L4Q

as of Q2 17

EUR 2,419m

Dairy Processing -10% YoY

Food +34% YoY

Beverages -16% YoY

Pharma/Chemical -1% YoY


BA Solutions -2% YoY


Order Int ake 2.0% -2.7%

ad just ed1

1.3% -5.6%

Sales -5.0% -1.9%

ad just ed1

-5.9% -4.5%

Order B acklog 1,783.1 1,79 4 .5 0.6% 1,783.1 1,79 4 .5 0.6%

Operat ing EB ITD A 61.7 3 5.1 -43.1% 253.1 154 .0 -39.2%

Operat ing EB ITD A M arg in 9.7% 5.8 % -391 bps 10.3% 6 .4 % -390 bps

Operat ing EB IT 57.1 3 0 .7 -46.3% 233.1 13 4 .9 -42.1%

Operat ing EB IT M arg in 9.0% 5.1% -391 bps 9.5% 5.6 % -388 bps

Operat ing R OC E2 39.1% 18 .2 % -2090 bps 39.1% 18 .2 % -2090 bps

633.7 6 0 1.7 2,465.4 2 ,4 18 .9

658.6 6 71.5 2,559.2 2 ,4 8 9 .4

Order intake Q2 2017


in EURm ∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in %

Order Intake

previous period

Structural Change 0 0.0% 0 0.0% 23 1.0% 67 1.4%

Currency Translation 11 0.9% -18 -1.6% 36 1.5% 23 0.5%

Like-for-Like Development 8 0.6% 123 10.8% -49 -2.1% -87 -1.9%

Order Intake

current period4,684 0.1%1,241 1.6% 2,377 0.5%1,241 9.2%

L4Q Q2 17 vs. L4Q

Q2 16Q2 17 vs. Q2 16

Q1 - Q2 17 vs. Q1 -

Q2 16Q2 17 vs. Q1 17

1,222 2,3661,136 4,680

Sales Q2 2017



Sales

previous period



Like-for-Like Development -29 -2.5% 148 14.8% 3 0.1% -76 -1.7%

Sales

current period

4,541

1,138 -1.6% 1,138 13.4% 2,142 2.1% 4,536 -0.1%

1,157 1,004 2,098

Q2 17 vs. Q2 16 Q2 17 vs. Q1 17Q1 - Q2 17 vs. Q1 -

Q2 16

L4Q Q2 17 vs. L4Q

Q2 16

Operating EBITDA Q2 2017



Operating EBITDA

previous period



Like-for-Like Development -23 -15.7% 27 28.1% -22 -9.2% -87 -13.9%

Operating EBITDA

current period-8.5% 546 -12.3%122 -15.7% 122 26.9% 219

Q2 17 vs. Q2 16 Q2 17 vs. Q1 17Q1 - Q2 17 vs. Q1 -

Q2 16

L4Q Q2 17 vs. L4Q

Q2 16

145 96 239 623

FX Development


EUR 48% - -

USD 18% 1.08 -3%

CNY 4% 7.44 2%

DKK 4% 7.44 0%

GBP 3% 0.86 11%

SGD 3% 1.52 -1%

PLN 2% 4.27 -2%

AUD 2% 1.44 -6%

INR 2% 71.18 -5%

NZD 2% 1.53 -7%

CAD 2% 1.45 -3%

*Share of functional (i.e. local P&Ls) currencies in the

translation mix of the group

Currency% total Q2

2017 *

FX Rates Q2

2017

(average)

∆ FX YoY Q2 2017

vs Q2 2016

Key figures time line (1/14)


Order Intake

[in EUR million]

Q1 09 Q2 09 Q3 09 Q4 09 FY

2009

Q1 10 Q2 10 Q3 10 Q4 10 FY

2010

BA Equipment 319.8 295.8 282.4 299.0 1,196.9 305.2 347.7 348.5 336.2 1,337.5

BA Solutions 369.7 430.0 348.0 442.3 1,590.1 439.9 465.2 440.3 546.6 1,892.0

Consolidation / Others -25.1 -22.7 -25.3 -25.7 -98.9 -31.8 -35.6 -33.5 -28.4 -129.2

GEA 664.4 703.0 605.0 715.6 2,688.1 713.4 777.3 755.3 854.4 3,100.3

Order Backlog

[in EUR million]Q1 09 Q2 09 Q3 09 Q4 09

FY

2009Q1 10 Q2 10 Q3 10 Q4 10

FY

2010

BA Equipment 439.3 421.5 389.4 365.3 365.3 403.4 438.3 422.4 379.0 379.0

BA Solutions 855.2 868.4 803.6 811.4 811.4 919.9 1,003.7 967.1 974.6 974.6


GEA 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

Sales

[in EUR million]

Q1 09 Q2 09 Q3 09 Q4 09 FY

2009

Q1 10 Q2 10 Q3 10 Q4 10 FY

2010

BA Equipment 312.1 308.2 303.3 320.6 1,244.2 270.9 315.8 348.4 379.2 1,314.3

BA Solutions 378.1 401.6 408.4 449.6 1,637.7 352.0 408.8 446.8 541.8 1,749.5


GEA 674.5 688.4 695.0 756.1 2,814.0 603.2 700.7 769.7 889.5 2,963.1

Adjusted Sales Growth

YoY [in %]

Q1 09 Q2 09 Q3 09 Q4 09 FY

2009

Q1 10 Q2 10 Q3 10 Q4 10 FY

2010

BA Equipment n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.

BA Solutions n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.

Consolidation / Others n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.

GEA n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.

Book-to-Bill Ratio LTM

(rolling last 12 months)Q1 09 Q2 09 Q3 09 Q4 09

FY

2009Q1 10 Q2 10 Q3 10 Q4 10

FY

2010

BA Equipment n.a. n.a. n.a. n.a. n.a. 0.98 1.02 1.04 1.02 1.02

BA Solutions n.a. n.a. n.a. n.a. n.a. 1.03 1.05 1.08 1.08 1.08


GEA n.a. n.a. n.a. n.a. n.a. 1.00 1.02 1.05 1.05 1.05



Order Intake

[in EUR million]

Q1 11 Q2 11 Q3 11 Q4 11 FY

2011

Q1 12 Q2 12 Q3 12 Q4 12 FY

2012

BA Equipment 385.2 523.9 524.8 506.9 1,940.8 547.3 535.2 534.3 552.5 2,169.2

BA Solutions 525.8 540.5 554.6 581.3 2,202.2 642.6 535.8 622.2 628.0 2,428.7


GEA 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

Order Backlog


FY

2011Q1 12 Q2 12 Q3 12 Q4 12

FY

2012

BA Equipment 531.9 575.8 586.9 510.4 510.4 602.7 620.9 599.5 558.0 558.0

BA Solutions 1,070.5 1,092.7 1,140.8 1,118.4 1,118.4 1,269.9 1,312.7 1,371.3 1,298.2 1,298.2


GEA 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

Sales

[in EUR million]

Q1 11 Q2 11 Q3 11 Q4 11 FY

2011

Q1 12 Q2 12 Q3 12 Q4 12 FY

2012

BA Equipment 326.3 488.6 516.1 583.0 1,914.0 440.1 514.2 547.0 583.2 2,084.4

BA Solutions 409.6 505.2 512.8 632.4 2,060.0 482.2 521.2 553.0 676.8 2,233.2


GEA 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


YoY [in %]

Q1 11 Q2 11 Q3 11 Q4 11 FY

2011

Q1 12 Q2 12 Q3 12 Q4 12 FY

2012

BA Equipment n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.

BA Solutions n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.


GEA 14.2% 22.7% 16.4% 12.7% 16.4% 22.8% -0.4% 4.0% 0.5% 3.4%



FY

2011Q1 12 Q2 12 Q3 12 Q4 12

FY

2012

BA Equipment 1.03 1.03 1.04 1.01 1.01 1.04 1.03 1.02 1.04 1.04

BA Solutions 1.09 1.08 1.10 1.07 1.07 1.09 1.08 1.09 1.09 1.09


GEA 1.06 1.05 1.07 1.04 1.04 1.06 1.06 1.05 1.07 1.07



Order Intake

[in EUR million]

Q1 13 Q2 13 Q3 13 Q4 13 FY

2013

Q1 14 Q2 14 Q3 14 Q4 14 FY

2014

BA Equipment 533.3 570.6 573.2 553.1 2,230.2 574.9 569.7 564.7 585.8 2,295.1

BA Solutions 610.2 698.2 640.8 636.3 2,585.5 502.1 652.4 646.5 622.3 2,423.4


GEA 1,095.1 1,220.0 1,168.3 1,144.4 4,627.9 1,024.3 1,169.9 1,167.9 1,157.5 4,519.6

Order Backlog


FY

2013Q1 14 Q2 14 Q3 14 Q4 14

FY

2014

BA Equipment 597.8 616.3 618.1 554.5 554.5 627.6 624.1 596.7 532.6 532.6

BA Solutions 1,413.9 1,502.7 1,553.0 1,492.1 1,492.1 1,496.7 1,551.9 1,623.6 1,540.2 1,540.2


GEA 1,982.6 2,085.3 2,136.2 2,015.5 2,015.5 2,086.7 2,137.2 2,185.4 2,037.6 2,037.6

Sales

[in EUR million]

Q1 13 Q2 13 Q3 13 Q4 13 FY

2013

Q1 14 Q2 14 Q3 14 Q4 14 FY

2014

BA Equipment 465.4 533.2 554.4 610.9 2,164.0 495.4 565.4 598.3 648.5 2,307.6

BA Solutions 503.7 575.2 579.3 680.1 2,338.3 502.2 603.3 594.9 704.0 2,404.3


GEA 924.2 1,064.6 1,089.1 1,242.2 4,320.0 950.7 1,117.7 1,146.0 1,301.4 4,515.7


YoY [in %]

Q1 13 Q2 13 Q3 13 Q4 13 FY

2013

Q1 14 Q2 14 Q3 14 Q4 14 FY

2014

BA Equipment 4.5% 3.7% 3.6% 7.6% 4.9% 9.7% 9.0% 8.5% 5.3% 8.0%

BA Solutions 5.7% 12.1% 9.3% 4.5% 7.7% 2.4% 7.6% 2.0% 2.2% 3.5%


GEA 5.0% 8.0% 6.2% 6.5% 6.5% 6.0% 7.9% 5.2% 3.6% 5.6%



FY

2013Q1 14 Q2 14 Q3 14 Q4 14

FY

2014

BA Equipment 1.02 1.03 1.04 1.03 1.03 1.04 1.02 1.00 0.99 0.99

BA Solutions 1.06 1.11 1.10 1.11 1.11 1.06 1.03 1.02 1.01 1.01


GEA 1.05 1.07 1.08 1.07 1.07 1.05 1.02 1.01 1.00 1.00



Order Intake

[in EUR million]

Q1 15 Q2 15 Q3 15 Q4 15 FY

2015

Q1 16 Q2 16 Q3 16 Q4 16 FY

2016

BA Equipment 586.5 573.0 546.9 586.6 2,293.0 570.4 617.2 561.6 597.6 2,346.8

BA Solutions 588.3 628.9 573.7 704.6 2,495.6 622.2 658.6 568.5 685.3 2,534.6


GEA 1,127.5 1,148.8 1,068.3 1,245.5 4,590.1 1,144.3 1,222.1 1,083.9 1,223.3 4,673.6

Order Backlog


FY

2015Q1 16 Q2 16 Q3 16 Q4 16

FY

2016

BA Equipment 608.3 581.4 557.8 501.9 501.9 563.0 615.6 603.0 567.4 567.4

BA Solutions 1,684.4 1,652.9 1,634.2 1,585.4 1,585.4 1,702.1 1,783.1 1,755.8 1,742.5 1,742.5


GEA 2,256.0 2,195.5 2,148.4 2,053.7 2,053.7 2,228.5 2,359.0 2,323.7 2,264.0 2,264.0

Sales


FY

2015Q1 16 Q2 16 Q3 16 Q4 16

FY

2016

BA Equipment 527.0 587.9 558.9 650.0 2,323.7 490.8 570.9 566.8 633.7 2,262.2

BA Solutions 526.0 612.9 594.4 741.9 2,475.2 495.5 633.7 585.0 711.6 2,425.7


GEA 1,006.4 1,150.1 1,106.6 1,336.2 4,599.3 941.2 1,156.9 1,100.8 1,293.0 4,491.9


YoY [in %]Q1 15 Q2 15 Q3 15 Q4 15

FY

2015Q1 16 Q2 16 Q3 16 Q4 16

FY

2016

BA Equipment 0.8% -2.5% -9.6% -4.4% -4.2% -6.5% -0.8% 1.5% -1.8% -1.8%

BA Solutions -2.5% -5.8% -6.0% -1.5% -3.9% -6.3% -0.1% -4.3% -6.8% -4.4%


GEA -0.9% -4.1% -8.0% -3.3% -4.2% -6.4% -0.1% -1.8% -4.4% -3.1%

Book-to-Bill Ratio L4Q Q1 15 Q2 15 Q3 15 Q4 15FY

2015Q1 16 Q2 16 Q3 16 Q4 16

FY

2016

BA Equipment 0.99 0.98 0.99 0.99 0.99 1.00 1.02 1.03 1.04 1.04

BA Solutions 1.03 1.02 0.99 1.01 1.01 1.03 1.04 1.04 1.04 1.04


GEA 1.01 1.00 0.99 1.00 1.00 1.02 1.03 1.04 1.04 1.04



Order Intake

[in EUR million]

Q1 17 Q2 17

BA Equipment 621.7 622.0

BA Solutions 564.1 671.5

Consolidation / Others -49.8 -52.5

GEA 1,136.0 1,241.1

Order Backlog

[in EUR million]Q1 17 Q2 17


BA Solutions 1,780.9 1,794.5


GEA 2,388.9 2,409.9

Sales

[in EUR million]Q1 17 Q2 17




GEA 1,003.9 1,138.5


YoY [in %]Q1 17 Q2 17

BA Equipment 6.4% 1.6%

BA Solutions 0.6% -5.9%

Consolidation / Others n.a. n.a.

GEA 3.3% -2.5%

Book-to-Bill Ratio L4Q Q1 17 Q2 17



Consolidation / Others n.a. n.a.

GEA 1.02 1.03



Operating EBITDA

[in EUR million]

Q1 09 Q2 09 Q3 09 Q4 09 FY

2009

Q1 10 Q2 10 Q3 10 Q4 10 FY

2010

BA Equipment 31.2 35.7 42.5 52.6 162.0 35.0 40.5 58.6 57.9 192.0

BA Solutions 11.7 21.5 22.7 43.3 99.3 12.1 21.2 23.2 68.8 125.3

Consolidation / Others -0.2 0.1 0.9 -13.3 -12.6 -2.3 2.0 -2.0 -4.5 -6.7

GEA 42.7 57.3 66.2 82.6 248.7 44.9 63.7 79.8 122.3 310.6

Operating EBITDA - Margin

[in %]

Q1 09 Q2 09 Q3 09 Q4 09 FY

2009

Q1 10 Q2 10 Q3 10 Q4 10 FY

2010

BA Equipment 10.0% 11.6% 14.0% 16.4% 13.0% 12.9% 12.8% 16.8% 15.3% 14.6%

BA Solutions 3.1% 5.4% 5.6% 9.6% 6.1% 3.4% 5.2% 5.2% 12.7% 7.2%

GEA 6.3% 8.3% 9.5% 10.9% 8.8% 7.4% 9.1% 10.4% 13.7% 10.5%

EBITDA reported

[in EUR million]

Q1 09 Q2 09 Q3 09 Q4 09 FY

2009

Q1 10 Q2 10 Q3 10 Q4 10 FY

2010

BA Equipment 31.2 33.3 39.9 38.6 143.0 34.9 38.6 49.4 52.5 175.4

BA Solutions 10.5 17.9 11.9 32.3 72.6 12.0 19.8 21.1 55.9 108.9

Consolidation / Others -3.1 -2.2 -3.5 -19.2 -28.1 0.0 -1.2 -5.2 -6.1 -12.4

GEA 38.6 49.0 48.3 51.7 187.6 47.0 57.2 65.4 102.3 271.9

Operating EBIT

[in EUR million]

Q1 09 Q2 09 Q3 09 Q4 09 FY

2009

Q1 10 Q2 10 Q3 10 Q4 10 FY

2010

BA Equipment 24.8 29.0 35.6 45.4 134.9 27.4 32.6 50.7 47.2 157.8

BA Solutions 7.7 17.3 18.7 39.1 82.8 7.9 16.8 18.9 64.0 107.6


GEA 29.4 43.4 52.4 66.3 191.6 29.9 48.5 65.3 104.1 247.9

Operating EBIT - Margin

[in %]

Q1 09 Q2 09 Q3 09 Q4 09 FY

2009

Q1 10 Q2 10 Q3 10 Q4 10 FY

2010

BA Equipment 7.9% 9.4% 11.8% 14.2% 10.8% 10.1% 10.3% 14.5% 12.4% 12.0%

BA Solutions 2.0% 4.3% 4.6% 8.7% 5.1% 2.2% 4.1% 4.2% 11.8% 6.2%

GEA 4.4% 6.3% 7.5% 8.8% 6.8% 5.0% 6.9% 8.5% 11.7% 8.4%



Operating EBITDA

[in EUR million]

Q1 11 Q2 11 Q3 11 Q4 11 FY

2011

Q1 12 Q2 12 Q3 12 Q4 12 FY

2012

BA Equipment 41.6 66.8 74.0 95.6 278.0 43.3 66.5 80.2 98.4 288.4

BA Solutions 25.0 38.3 45.1 87.9 196.3 25.6 45.3 51.4 90.8 213.1

Consolidation / Others -4.2 -4.7 0.7 3.5 -4.7 -0.9 -1.1 0.6 -5.7 -7.1

GEA 62.4 100.3 119.8 187.0 469.6 68.0 110.7 132.3 183.5 494.4


[in %]

Q1 11 Q2 11 Q3 11 Q4 11 FY

2011

Q1 12 Q2 12 Q3 12 Q4 12 FY

2012

BA Equipment 12.7% 13.7% 14.3% 16.4% 14.5% 9.8% 12.9% 14.7% 16.9% 13.8%

BA Solutions 6.1% 7.6% 8.8% 13.9% 9.5% 5.3% 8.7% 9.3% 13.4% 9.5%

GEA 8.8% 10.4% 12.2% 15.9% 12.3% 7.7% 11.1% 12.5% 15.2% 11.9%

EBITDA reported

[in EUR million]

Q1 11 Q2 11 Q3 11 Q4 11 FY

2011

Q1 12 Q2 12 Q3 12 Q4 12 FY

2012

BA Equipment 41.6 47.1 74.7 94.9 258.2 7.4 62.3 73.6 80.4 223.7

BA Solutions 25.0 38.3 45.1 87.9 196.3 25.6 45.3 51.2 90.8 212.8

Consolidation / Others -6.8 -7.2 -1.9 1.7 -14.2 -3.6 -3.5 -1.8 -7.7 -16.5

GEA 59.9 78.1 117.9 184.4 440.3 29.4 104.1 123.0 163.5 420.1

Operating EBIT

[in EUR million]

Q1 11 Q2 11 Q3 11 Q4 11 FY

2011

Q1 12 Q2 12 Q3 12 Q4 12 FY

2012

BA Equipment 33.8 56.2 63.2 85.7 238.8 32.9 57.1 70.1 87.2 247.4

BA Solutions 20.6 33.7 40.1 82.7 177.1 21.0 40.5 46.6 85.2 193.4

Consolidation / Others -6.1 -6.7 -1.4 0.9 -13.3 -3.2 -2.7 -1.3 -7.8 -15.0

GEA 48.2 83.2 101.9 169.3 402.6 50.7 94.9 115.4 164.7 425.8


[in %]

Q1 11 Q2 11 Q3 11 Q4 11 FY

2011

Q1 12 Q2 12 Q3 12 Q4 12 FY

2012

BA Equipment 10.4% 11.5% 12.2% 14.7% 12.5% 7.5% 11.1% 12.8% 15.0% 11.9%

BA Solutions 5.0% 6.7% 7.8% 13.1% 8.6% 4.4% 7.8% 8.4% 12.6% 8.7%

GEA 6.8% 8.6% 10.4% 14.4% 10.5% 5.8% 9.5% 10.9% 13.6% 10.3%



Operating EBITDA

[in EUR million]

Q1 13 Q2 13 Q3 13 Q4 13 FY

2013

Q1 14 Q2 14 Q3 14 Q4 14 FY

2014

BA Equipment 48.6 66.3 84.3 113.4 312.7 56.6 72.4 90.5 131.7 351.1

BA Solutions 32.1 52.2 53.5 95.2 233.0 34.2 57.8 60.3 113.5 265.8


GEA 72.4 118.4 133.5 205.7 530.1 85.1 128.0 149.0 228.5 590.7


[in %]

Q1 13 Q2 13 Q3 13 Q4 13 FY

2013

Q1 14 Q2 14 Q3 14 Q4 14 FY

2014

BA Equipment 10.4% 12.4% 15.2% 18.6% 14.4% 11.4% 12.8% 15.1% 20.3% 15.2%

BA Solutions 6.4% 9.1% 9.2% 14.0% 10.0% 6.8% 9.6% 10.1% 16.1% 11.1%

GEA 7.8% 11.1% 12.3% 16.6% 12.3% 9.0% 11.5% 13.0% 17.6% 13.1%

EBITDA reported

[in EUR million]

Q1 13 Q2 13 Q3 13 Q4 13 FY

2013

Q1 14 Q2 14 Q3 14 Q4 14 FY

2014

BA Equipment 48.3 66.3 84.3 113.4 312.4 56.6 72.4 85.7 126.0 340.7

BA Solutions 32.1 52.2 53.5 95.2 233.0 34.2 57.8 58.6 113.8 264.5


GEA 71.1 113.8 130.0 200.3 515.2 83.0 123.1 140.0 193.9 539.9

Operating EBIT

[in EUR million]

Q1 13 Q2 13 Q3 13 Q4 13 FY

2013

Q1 14 Q2 14 Q3 14 Q4 14 FY

2014

BA Equipment 38.4 55.6 72.9 100.5 267.4 44.4 60.0 77.8 116.1 298.3

BA Solutions 27.4 47.6 48.7 90.8 214.4 29.8 53.1 55.7 109.2 247.8


GEA 55.4 101.0 115.6 186.8 458.8 66.8 109.3 130.2 207.2 513.5


[in %]

Q1 13 Q2 13 Q3 13 Q4 13 FY

2013

Q1 14 Q2 14 Q3 14 Q4 14 FY

2014

BA Equipment 8.3% 10.4% 13.1% 16.5% 12.4% 9.0% 10.6% 13.0% 17.9% 12.9%

BA Solutions 5.4% 8.3% 8.4% 13.3% 9.2% 5.9% 8.8% 9.4% 15.5% 10.3%

GEA 6.0% 9.5% 10.6% 15.0% 10.6% 7.0% 9.8% 11.4% 15.9% 11.4%



Operating EBITDA

[in EUR million] Q1 15 Q2 15 Q3 15 Q4 15

FY

2015Q1 16 Q2 16 Q3 16 Q4 16

FY

2016

BA Equipment 67.4 84.5 92.4 137.6 381.8 72.3 86.0 91.3 133.9 383.5

BA Solutions 32.3 58.1 51.9 113.1 255.3 26.5 61.7 18.5 76.7 183.5

Consolidation / Others -1.5 -3.3 -0.5 -10.9 -16.2 -4.9 -2.5 2.8 3.9 -0.7

GEA 98.2 139.3 143.7 239.8 621.0 93.9 145.2 112.7 214.5 566.3


[in %] Q1 15 Q2 15 Q3 15 Q4 15

FY

2015Q1 16 Q2 16 Q3 16 Q4 16

FY

2016

BA Equipment 12.8% 14.4% 16.5% 21.2% 16.4% 14.7% 15.1% 16.1% 21.1% 17.0%

BA Solutions 6.1% 9.5% 8.7% 15.2% 10.3% 5.3% 9.7% 3.2% 10.8% 7.6%

GEA 9.8% 12.1% 13.0% 17.9% 13.5% 10.0% 12.6% 10.2% 16.6% 12.6%

EBITDA reported


FY

2015Q1 16 Q2 16 Q3 16 Q4 16

FY

2016

BA Equipment 64.5 27.6 90.4 126.4 308.8 72.4 88.5 88.6 122.2 371.8

BA Solutions 31.7 31.1 45.1 94.6 202.6 22.6 62.5 15.9 62.3 163.3


GEA 93.0 6.4 110.4 220.0 429.8 85.2 137.3 100.4 177.7 500.6

Operating EBIT


FY

2015Q1 16 Q2 16 Q3 16 Q4 16

FY

2016

BA Equipment 54.3 71.5 78.1 122.9 326.8 59.0 72.1 77.5 117.5 326.0

BA Solutions 27.5 53.3 46.6 107.5 234.8 21.9 57.1 13.6 71.7 164.3

Consolidation / Others -3.0 -5.0 -2.1 -12.7 -22.8 -6.5 -4.0 0.7 4.6 -5.3

GEA 78.8 119.8 122.6 217.7 538.8 74.3 125.2 91.7 193.8 485.0


[in %] Q1 15 Q2 15 Q3 15 Q4 15

FY

2015Q1 16 Q2 16 Q3 16 Q4 16

FY

2016

BA Equipment 10.3% 12.2% 14.0% 18.9% 14.1% 12.0% 12.6% 13.7% 18.5% 14.4%

BA Solutions 5.2% 8.7% 7.8% 14.5% 9.5% 4.4% 9.0% 2.3% 10.1% 6.8%

GEA 7.8% 10.4% 11.1% 16.3% 11.7% 7.9% 10.8% 8.3% 15.0% 10.8%



Operating EBITDA

[in EUR million] Q1 17 Q2 17



Consolidation / Others 3.5 -9.6

GEA 96.4 122.4


[in %] Q1 17 Q2 17


BA Solutions 4.5% 5.8%

GEA 9.6% 10.8%

EBITDA reported





GEA 90.9 106.6

Operating EBIT





GEA 76.3 101.9


[in %] Q1 17 Q2 17



GEA 7.6% 8.9%



EBIT reported

[in EUR million]

Q1 09 Q2 09 Q3 09 Q4 09 FY

2009

Q1 10 Q2 10 Q3 10 Q4 10 FY

2010

BA Equipment 24.2 26.0 32.2 30.7 113.2 26.6 29.8 40.7 40.4 137.5

BA Solutions 5.8 13.0 7.2 26.7 52.7 7.1 14.7 16.1 50.3 88.2


GEA 24.0 33.7 33.0 33.4 124.2 30.5 40.4 49.3 82.0 202.2

Capital Employed w/o goodwill1)

(average LTM)

[in EUR million]

Q1 09 Q2 09 Q3 09 Q4 09FY

2009Q1 10 Q2 10 Q3 10 Q4 10

FY

2010

BA Equipment - - - - n.a. 633.4 632.0 630.7 641.6 641.6

BA Solutions - - - - n.a. 382.9 375.0 369.1 360.8 360.8

Consolidation / Others - - - - n.a. 62.1 64.0 66.1 67.0 67.0

GEA - - - - n.a. 1,078.4 1,071.0 1,066.0 1,069.5 1,069.5

ROCE w/o goodwill2) LTM

[in%]Q1 09 Q2 09 Q3 09 Q4 09

FY

2009Q1 10 Q2 10 Q3 10 Q4 10

FY

2010

BA Equipment - - - - n.a. 18.2% 18.9% 20.3% 21.4% 21.4%

BA Solutions - - - - n.a. 14.1% 14.9% 17.5% 24.4% 24.4%

GEA - - - - n.a. 12.1% 12.8% 14.4% 18.9% 18.9%

EBIT reported

[in EUR million]

Q1 11 Q2 11 Q3 11 Q4 11 FY

2011

Q1 12 Q2 12 Q3 12 Q4 12 FY

2012

BA Equipment 33.0 27.4 56.1 81.2 197.7 -7.6 48.0 58.5 50.5 149.3

BA Solutions 19.8 33.0 39.5 80.0 172.2 20.1 39.5 45.3 84.5 189.6


GEA 44.0 51.1 91.6 160.2 347.0 6.5 82.3 100.1 125.4 314.3


(average LTM)

[in EUR million]

Q1 11 Q2 11 Q3 11 Q4 11FY

2011Q1 12 Q2 12 Q3 12 Q4 12

FY

2012

BA Equipment 694.6 843.9 1,007.6 1,175.3 1,175.3 1,299.8 1,340.7 1,376.0 1,402.6 1,402.6

BA Solutions 356.2 353.3 356.8 370.1 370.1 393.2 410.6 419.1 408.0 408.0

Consolidation / Others 67.1 69.2 72.3 74.2 74.2 79.0 79.0 77.6 76.8 76.8

GEA 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


[in%]Q1 11 Q2 11 Q3 11 Q4 11

FY

2011Q1 12 Q2 12 Q3 12 Q4 12

FY

2012

BA Equipment 20.7% 16.8% 15.6% 16.8% 16.8% 12.1% 13.2% 13.1% 10.6% 10.6%

BA Solutions 28.3% 33.7% 39.9% 46.5% 46.5% 43.9% 43.6% 44.1% 46.5% 46.5%

GEA 19.3% 17.9% 18.7% 21.4% 21.4% 17.5% 18.6% 18.6% 16.7% 16.7%



EBIT reported

[in EUR million]

Q1 13 Q2 13 Q3 13 Q4 13 FY

2013

Q1 14 Q2 14 Q3 14 Q4 14 FY

2014

BA Equipment 33.0 50.5 67.9 95.5 246.9 39.3 55.2 68.2 105.6 268.3

BA Solutions 26.5 46.7 47.8 89.5 210.5 28.9 52.3 53.1 108.8 243.0


GEA 48.1 90.4 106.0 175.1 419.6 58.7 98.7 115.4 167.0 439.9


(average LTM)

[in EUR million]

Q1 13 Q2 13 Q3 13 Q4 13FY

2013Q1 14 Q2 14 Q3 14 Q4 14

FY

2014

BA Equipment 1,428.1 1,438.7 1,444.9 1,454.9 1,454.9 1,466.1 1,480.1 1,494.7 1,506.2 1,506.2

BA Solutions 391.3 381.5 372.1 371.3 371.3 365.4 365.0 370.2 375.5 375.5


GEA 1,890.1 1,890.6 1,886.5 1,895.0 1,895.0 1,900.2 1,912.0 1,929.0 1,943.4 1,943.4


[in%]Q1 13 Q2 13 Q3 13 Q4 13

FY

2013Q1 14 Q2 14 Q3 14 Q4 14

FY

2014

BA Equipment 13.3% 13.4% 14.0% 17.0% 17.0% 17.3% 17.4% 17.3% 17.8% 17.8%

BA Solutions 50.1% 53.2% 55.3% 56.7% 56.7% 58.3% 59.9% 60.4% 64.7% 64.7%

GEA 18.8% 19.3% 19.6% 22.1% 22.1% 22.6% 22.9% 23.2% 22.6% 22.6%

EBIT reported


FY

2015Q1 16 Q2 16 Q3 16 Q4 16

FY

2016

BA Equipment 46.5 8.1 72.3 100.2 227.1 54.1 69.6 69.7 99.5 292.9

BA Solutions 25.7 24.9 37.6 82.3 170.5 16.3 53.8 7.0 56.2 133.4


GEA 67.5 -20.9 83.1 179.7 309.4 59.0 108.2 70.5 149.4 387.0


(average L12M)

[in EUR million]

Q1 15 Q2 15 Q3 15 Q4 15FY

2015Q1 16 Q2 16 Q3 16 Q4 16

FY

2016

BA Equipment 1,519.8 1,526.8 1,530.6 1,543.7 1,543.7 1,538.9 1,537.5 1,538.9 1,540.1 1,540.1

BA Solutions 391.0 417.1 460.6 514.6 514.6 541.5 596.2 634.2 676.6 676.6


GEA 1,974.0 2,006.7 2,053.2 2,119.6 2,119.6 2,136.8 2,187.8 2,233.6 2,293.2 2,293.2

ROCE w/o goodwill2)

[in%]Q1 15 Q2 15 Q3 15 Q4 15

FY

2015Q1 16 Q2 16 Q3 16 Q4 16

FY

2016

BA Equipment 18.1% 15.0% 15.2% 14.7% 14.7% 15.3% 19.3% 19.1% 19.0% 19.0%

BA Solutions 61.3% 51.0% 42.8% 33.1% 33.1% 29.8% 31.9% 25.1% 19.7% 19.7%

GEA 22.7% 16.4% 14.5% 14.6% 14.6% 14.1% 19.7% 18.7% 16.9% 16.9%



EBIT reported





GEA 63.6 78.7


(average L12M)

[in EUR million]

Q1 17 Q2 17

BA Equipment 1,557.3 1,568.8


Consolidation / Others 79.1 80.3

GEA 2,370.4 2,390.7

ROCE w/o goodwill2)

[in%]Q1 17 Q2 17



GEA 16.5% 15.1%

Key figures time line (14/14): Remarks

• Please note:

Adjusted sales growth = before currency translation and structural change

• 1) Capital employed excluding EUR ~800m goodwill from the acquisition of the former GEA AG by the

former Metallgesellschaft AG in 1999.

• 2) ROCE L4Q = EBIT reported (L4Q) / Capital employed excluding EUR ~800m goodwill from the

acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L12M).


Investor Relations Contact


Donat von Müller

+49 211 9136 1080

[email protected]

Dr. Helmut Schmale

CFO

+49 211 9136 1082

[email protected]

Thomas Rosenke

+49 211 9136 1085

[email protected]

gea.com

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