Q2 2014 Presentation for Roadshows and Conferences GEA ... › de › binaries › GEA on Roadshow and Conferen… · engineering for a better world GEA in summary 5 GEA on Roadshows

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


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


Agenda

The GEA Group

Results Q2 2014

Backup



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


GEA in summary


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.


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


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

http://www.gearefrigeration.com/de-de/produkte/Wärmepumpen/FX-P/Pages/GEAGrassoFXPWaermepumpe.aspx


End markets: ~ 75% food exposure


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.


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


~ 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


GEA among the global market leaders for milk powder plants


• 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


Emerging Markets driving at least 40% of our business


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%


Steadily growing sales and margins


[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


0

20

40

60

80

100

120

140

2009 2010 2011 2012 2013

GDP GEA

GEA has been growing by more than 5% organically


CAGR Global GDP

growth 2009-2013:

+3.8%

CAGR GEA organic sales

growth 2009-2013:

+5.8%

(Index 2009 = 100)

14


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]


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


Segment structure


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


ROCE FY 2013: 17.4%

Dairy and Brewery Systems

Aseptic Filling

Pharma Systems

GEA Process Engineering

40% of Group Sales

~ 75 %

food related


ROCE FY 2013: 73.2%

Compressors

Ice Machines

Freezers

GEA Refrigeration

Technologies

17 % of Group Sales

~ 62 %

food related


ROCE FY 2013: 22.7%

http://www.westfalia.com/hq/en/products_services/proformance_equipment/products/milking_equipment/milking_components/default.aspx

http://www.westfalia.com/hq/en/products_services/promilk_Hygiene_consumables/products/hygiene/udder_hygiene/noniodinedip.aspx

http://www.westfalia.com/hq/de/products_services/milking_cooling/farm_management/herd_management_software/default.aspx


Summary: Why to invest in GEA?


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


Agenda

The GEA Group

Results Q2 2014

Backup



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


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


D -4%

organic: -2%

1,220 1,170

Q2 2013 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


Development LTM: Order Intake, Sales, Operating Margins


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


Order Intake Sales Operating EBITDA Margin Operating EBIT Margin

5,000

4,000

3,000

2,000

1,000

[in EUR million]


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



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]


Large Order Development since Q2 2010

1,400

1,200

1,000


Regional Sales Trend LTM per 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%


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


Sales by Customer Industry since Q4 2009*

Pharma/Chemical D -7% YoY


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


Book to Bill Ratios by Industry/Region

Strong BtB-Ratios in Food & Beverages driven by Dairy Processing


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


Top Line Trend / Order Backlog

2,137

Continuously positive BtB-Ratio

2,500

2,000

1,500

1,000


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)


[in EUR million]


ROCE Development

ROCE approaching 23% despite slightly increased capital employed following recent capex projects

3,000

2,500

2,000

1,500

1,000


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


Working Capital Working Capital (average LTM) as % of sales (LTM)

Working Capital / Sales ratio stabilized in guided corridor

[in EUR million]


Working Capital Development


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]


Cash Flow Driver Margin Development


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]


Net Liquidity Reconciliation incl. GEA HX


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]


Service Business per Q2 LTM: 27% of Sales


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



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


Guidance FY 2014 continuing operations confirmed


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%


Additional Financial Information for 2014


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


Investor Relations Calendar Upcoming Roadshows and Conferences

Sept 9, 2014 Conference Germany Frankfurt

Sept 3, 2014 Conference UK London


Sept 24 - 25, 2014 Conference Germany Munich

Sept 30, 2014 Conference Italy Milan

Oct 13, 2014 Capital Markets Day London

2 0 1 4


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


October 28, 2014 Interim Report Q3 2014

2 0 1 4


Financial Calendar

October 13, 2014 Capital Markets Day


Agenda

The GEA Group

Results Q2 2014

Backup



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)


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]



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


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 EBIT 5.5 10.0 +81.3% 5.6 13.1 +131.2%


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]





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]


Δ YoY

+7%


LTM per

Q2 2014:

EUR 614m

+7% YoY

LTM per

Q2 2014:

EUR 614m

+7% YoY


15%

42% 9%

9%

25%

Dairy Processing

Food

Beverages

Pharma/Chemical

Other Industries

GEA Mechanical Equipment

Sales by Customer


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-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]





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]



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


43%

5% 25%

20%

7%

Dairy Processing

Food

Beverages

Pharma/Chemical

Other Industries

GEA Process Engineering

+7%

-10%

+10%

-27%

+11%

Sales by Customer


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 EBIT 41.2 45.0 +9.1% 66.9 71.6 +7.0%


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]





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]



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


6%

50%

4%

7%

32%

Dairy Processing

Food

Beverages

Pharma/Chemical

Other Industries

GEA Refrigeration Technologies

+20%

-26%

+33%

-2%

+6%

Sales by Customer


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 EBIT 14.3 17.4 +21.1% 21.7 27.3 +26.1%


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]





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]



LTM per

Q2 2014:

EUR 739m

+3% YoY

LTM per

Q2 2014:

EUR 739m

+3% YoY

Δ YoY Δ YoY

-11%


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


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]





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]



LTM per

Q2 2014:

EUR 1,452m

-4% YoY

LTM per

Q2 2014:

EUR 1,452m

-4% YoY

1,200

1,500

1,800


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]


Order Intake Q2 2014

∆ abs. ∆ in %

∆ abs. ∆ in %

∆ abs. ∆ in %


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


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]


Sales Q2 2014


Q2 2014 vs.

Q2 2013

Q1-Q2 2014 vs.

Q1-Q2 2013

Q2 2014 vs.

Q1 2014

Operating EBITDA

previous period 118 191 111


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]


Operating EBITDA Q2 2014


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]


EBITDA Bridge Q2 2014


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%


FX Development Q2 2014 YoY


623

551

623

936

929

943

542

647

517

495

470

459

521

363

590


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


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


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 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 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


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 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 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 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%





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




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 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




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 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 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 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%



EBITDA reported









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



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 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



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 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





EBITDA reported




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 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









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 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



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 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



Capital Employed w/o goodwill3) (average LTM)



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 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%


Capital Employed w/o goodwill3) (average LTM)


GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. - - - - - - - - - - - -


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 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 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 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%


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).



ADR Information


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: [email protected] and website: www.adr.db.com

Depositary bank’s local custodian: Deutsche Bank Frankfurt

60

mailto:[email protected]


Investor Relations Contact


Donat von Müller

+49 211 9136 1080

donat.vonmueller

@gea.com

61

Dr. Helmut Schmale

CFO

+49 211 9136 1492

[email protected]

Axel Wolferts

+49 211 9136 1490

axel.wolferts

@gea.com

Rebecca Grabotin

+49 211 9136 1081

rebecca.grabotin

@gea.com

Documents

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