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Results Presentation
Q2 2019
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
GEA Q2 2019 Figures 22
1. Results Q2 2019
2. Financials Q2 2019
3. Outlook FY 2019
33
➢Q2 order intake declined by 17% YoY after a record order intake level in prior
year’s Q2 – however, H1 order intake only down by 6% YoY
Executive Summary Q2 2019
4GEA Q2 2019 Figures
Order Intake
€m 1,147
Sales
€m 1,247
EBITDA1
€m 111
EBIT1
€m 57
ROCE1,2
10.5%
1 Before effects from restructuring (see Annual Report, page 28 ff.); previous year: pro-forma figure incl. IFRS 16 effects
2 Capital employed excluding goodwill from the acquisition of the former GEA AG by former Metallgesellschaft AG in 1999 (average of the last 4 quarters); previous year: pro-forma
figure incl. IFRS 16 effects
FY 2019 Guidance confirmed
➢ Sales grew by 2% YoY driven by a strong service business (growing by 7.1%
YoY); record sales volume in both Business Areas
➢ EBITDA1 burdened by special effects in the amount of €30m – EBITDA1 would
have been otherwise almost on prior year’s level
➢ EBIT1 down by €34m YoY to €57m mainly driven by special effects impacting
EBITDA1
➢ ROCE1,2 down YoY from 15.5% to 10.5% due to a decline in L4Q EBIT1 and an
increase in L4Q capital employed resulting from IFRS 16 phasing in H1 2019
➢Giving P&L responsibility back to the operating divisions
➢ Preparations for the start of the gradual implementation of the new divisional structure on
October 1st are on track
➢ C-level division teams 13 out of 15 positions and all 7 regional heads hired
➢ Country organization serves as a local sales and service organization with one face to the
customer
➢ Process to further outline the dedicated divisional set-up at country level to be carried out
within the next weeks
➢Global production, global procurement and global technology staffed and operational
Strategic updateNew organizational structure
5GEA Q2 2019 Figures
Strategic updateRestructuring BA Solutions Dairy
6GEA Q2 2019 Figures
➢On track with the restructuring of BA Solutions Dairy
➢ Total reduction of ~230 FTE with total expenses of €30m to €35m are identified – both
within the guided ranges (FTE: 200 – 250; restructuring expenses: €30m to €45m)
➢ Restructuring expenses of €15m booked in Q2 2019
➢ Further restructuring expenses of ~€9m to be booked in H2 2019
➢ Potential annual run rate of savings of ~€17m to kick-in from 2020 onwards; full run rate
impact to be visible in 2021 due to structured process of exits
1. Results Q2 2019
2. Financials Q2 2019
3. Outlook FY 2019
7
Order Intake, Sales and Book-to-Bill
8GEA Q2 2019 Figures
1,2
41
1,0
57
1,3
17
1,1
03
1,3
83
1,1
97
1,2
35
1,1
86
1,1
47
1,1
38
1,1
31
1,3
31
1,0
39
1,2
27
1,1
89
1,3
73
1,0
57
1,2
47
0 €m
200 €m
400 €m
600 €m
800 €m
1,000 €m
1,200 €m
1,400 €m
Q2 17 Q2 18 Q2 19
Order Intake Sales
1.09 0.93 0.99 1.06 1.13 1.01 0.90 1.12 0.92
BtB
➢ Sales reached a new record level for a Q2
➢ Low book-to-bill due to record sales and low
order intake
➢Order intake expected to recover in H2
➢Order intake below last year’s all-time high level
also due to order deferrals by customers
YoY Development
➢ Stable base orders (<€1m)
QoQ Development
➢ Decline due to weaker order intake in the
medium (>€5m) and large order brackets
(>€15m)
11
5
11
2
20
1
61
12
6
12
8
15
7
75
11
1
87
83
16
8
27
91
91 9
7
27
57
21.9%21.8%19.8%
16.8%16.0%15.3%
12.3%12.0%10.5%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
0 €m
50 €m
100 €m
150 €m
200 €m
250 €m
Q2 17 Q2 18 Q2 19
EBITDA EBIT ROCE
EBITDA1, EBIT1 and ROCE1,2
9GEA Q2 2019 Figures
➢ Accounting change IFRS 16 from Q1 2019
onwards
➢ IFRS 16 impacts EBITDA as well as EBIT
positively
➢Q2 2019 EBITDA1 and EBIT1 down YoY due to
special effects despite positive IFRS 16 impact
➢ Excluding special effects, EBITDA1 would have
been almost on prior year’s level
➢ ROCE1,2 declined YoY and QoQ also due to the
phasing in effect of the IFRS 16 accounting
change
Change in IFRS 16
accounting
1 Before effects from restructuring (see Annual Report, page 28 ff.); 2 Capital employed excluding goodwill from the acquisition of the former GEA AG by former Metallgesellschaft
AG in 1999 (average of the last 4 quarters)
1 1 1,2
EBITDA before restructuringYoY Development [€m]
10
16
8
11
1
EBITDA
Q2 18
IFRS 16 Pro Forma
EBITDA
Q2 18
Volume
-19142
Other
-28
FX and
Delta DA
EBITDA
Q2 19
SG&AR&D
-4
Margin
126
111• -€4m new machines
• +€13m service
• +€8m FX
• +€3m total delta D&A
• -€5m amortization of R&D projects (no EBITDA effect due to
offsetting effect in D&A addback)
• -€15m new machines (therein -€13m backlog review BA-S)
• -€1m service
• -€3m mainly personnel expenses
• -€16m legal disputes
• -€9m release of provision Q2 18
• +€2m release of bad debt
provision
• -€13m Selling expenses (mainly
personnel expenses-€10m)
• +€13m Administration expenses
• +€5m release personnel
provision
• +€2m release of provision
OneGEA Finance
GEA Q2 2019 Figures
Expenses highlighted in bold letters are extraordinary effects and sum up to -€30m
EBITDA before restructuring per SegmentYoY Development [€m]
11
16
8
111-15
-1
IFRS 16EBITDA Q2 18
126
Pro Forma
EBITDA Q2 18
-22
BA-E BA-S GCC/RoC FX EBITDA Q2 19
142
• -€16m legal disputes
• +€2m release of bad
debt provision
• -€3m FTE increase
GEA Q2 2019 Figures
• -€9m release of provision Q2 18
• +€5m release personnel provision
• -€3m personnel expenses
• +€3m Charging / Trademark fee
• +€2m release of provision OneGEA
Finance
• +€4m BA-E
• +€3m BA-S
• +€1m Other
• -€13m backlog review
• -€2m new machines
• -€9m personnel expenses
• +€4m service
Expenses highlighted in bold letters are extraordinary effects and sum up to -€30m
Service Sales
12GEA Q2 2019 Figures
223 220260
225 237 241269
243 255
133 123
171
117
144 138
171
117
153
345331
415
329
368 366
428
346
394
0 €m
100 €m
200 €m
300 €m
400 €m
500 €m
Q2 17 Q2 18 Q2 19
BA Equipment BA Solutions
Please note that the differences between the sum of the BAs and the Group are explained by consolidation/others
➢ Service sales grew by 7.1% or by 6.7% excl. FX YoY
to €394m
➢ Record service sales volumes for both Business
Areas for Q2
➢ Growth at Business Area Equipment was especially
driven by service in Separation and Food Processing
& Packaging
➢ Growth at both Business Areas supported by better
pricing and by solid underlying demand
➢ For the first time on a L4Q perspective, BA
Equipment reached €1bn in service sales
➢ Net working capital stood at the end of Q2 19 at €906m or
18.6% of L4Q sales – an increase of €59m or 70bps YoY
➢ Inventories increased YoY by €43m partly due to safety
stock related to a relocation of production
➢ Net trade receivables (without POC) were down by €72m
YoY while net POC receivables increased by €46m
➢ Trade payables declined by €41m thus resulting in an
increase of net working capital
➢ Group wide project to reduce net working capital
started on August 1st
Net working capital to sales ratio
13GEA Q2 2019 Figures
706731
674
761
848
904
747
833
906
15.6%16.0%
14.6%
16.4%
17.9%
18.9%
15.5%
17.2%
18.6%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
0€m
200€m
400€m
600€m
800€m
1,000€m
1,200€m
Q2 17 Q2 18 Q2 19
NWC as of reporting date
NWC as of reporting date as % of sales (L4Q)
Cash flow and net financial debtper Q2 19
14
111
32 8
-9
72
22
Delta NWCEBITDA
before
Restructuring
9
14
8
Taxes
8
Capex
Restructuring
OthersCash-out
Restructuring
Operating
Cash flow
Capex
1
Free Cash
Flow
IFRS 16
payments
Interest
3
Net Cash
Flow
-155
-330
153
7
Net debt Q1 19 DOP1
99
DividendsNet Cash Flow FX impacts
4
Other Net debt Q2 19
Free Cash Flow Q2 19
Net financial debt Q2 19 vs. Q1 19
Free Cash Flow
• Increase in net working capital predominantly
due to an increase in inventories of €63m
• Restructuring related cash outflow of €8m
• Others include mainly add-back of non-cash
service costs for pensions
• Capex: BA-E: €11m + €1m restructuring; BA-S:
€8m, GCC: €3m
Net Cash Flow
• IFRS 16: BA-E: €7m, BA-S: €6m, GCC: €1m
Net financial debt
• DOP1 includes payments of €8m related to the
settlement of the legal dispute Doerries
Scharmann
• Dividend was paid in May 2019
• FX impacts: translation effects from valuation
changes of cash positions (predominantly USD
related)
GEA Q2 2019 Figures
1DOP = Discontinued Operations
Financing and liquidity
15
Maturities
[€m]
10
0
260
650
128 128
12
2
12
2
31
3
202420222019 2020 20252021 2023
413
172 172
50
50
Other* BNL (2025)EIB** BNL (2023) Club Deal
*Including uncommitted lines and credit lines < 1 Year.
**From the €150m EIB €100m will be lapsed in 2020 if not utilized.
Left side: committed
Right side: utilization
Financing and liquidity
➢ Sufficient financial headroom and flexibility due to long term financing and
liquidity back-up facility
➢ Solid structure of financial instruments and balanced maturity profile of
main financial debts
➢ Diversified mix of international and national bank partners providing major
credit lines
* Total net Debt / Cons. EBITDA
Committed
€m 2019 2019 2018
Borrower's note loan (2023) 128 128 128
Borrower's note loan (2025) 122 122 122
European Investment Bank 150 50 50
Bilaterals 313 260 18
Syndicated credit l ine ("Club Deal") 650 - -
Total 1.363 560 318
Utilized
Moody's Baa2 negative February 27, 2019
Fitch BBB negative June 29, 2019
Agency Rating Outlook Last update
Rating
SpotJun Jun FY
€m 2019 2018 2018
Equity l 2.318 2.410 2.449
Leverage* (Covenant 3x) 1,3x 0,7x 0,2x
Financial Headroom 750 650 750
Cash and Cash Equivalents 231 269 248
Net Debt l 330 327 72
∆
GEA Q2 2019 Figures
1. Results Q2 2019
2. Financials Q2 2019
3. Outlook FY 2019
16
Guidance FY 2019
GEA Q2 2019 Figures
This forecast is based on the assumptions described in the Report on Expected Developments on pages 124 ff. in
the 2018 Annual Report and takes into account, among other things, the assumption that there will be no significant
slowdown in global economic growth. Potential acquisitions and divestments in 2019 are not considered.
EBITDA(before restructuring measures)
ROCE(before restructuring measures)
Revenue
moderately below the
previous year’s level
(EUR 4,828m)
between
EUR 450 and 490m(previous year pro forma figure incl. IFRS 16
effects from 2019: approx. EUR 535m)
between
8.5% and 10.5%
(previous year pro forma figure incl. IFRS 16
effects from 2019: ca. 11.5%)
1717
Roadmap for 2019
18
Q3Oct. 25
FY18March 14
AGMApril 26
Q1May 10
Q2Aug. 6
UpdateJune 24
CMDSeptember 26
New KPI
structure
Presentation of
divisional
structure
Strategy update:
• Define core business
• Portfolio decision
• ERP roadmap
• Update on
procurement
organization
• Update on production
network
Start of the
gradual
implementation of
the new
organizational
structure
New
organizational
structure fully
implemented
New org.
structureOct. 1
GEA Q2 2019 Figures
New org.
structureJan. 1
2020
Appendix
19
23%
21%
7%18%
14%
17%
Sales by Customer
Industry12%
17%
31%
11%
14%
14%
GEA – Q2 2019 figures
GEA Q2 2019 Figures
1 Before effects from restructuring (see Annual Report, page 28 ff.); previous year: pro-forma figure incl. IFRS 16 effects; 2 ROCE = EBIT1 (L4Q) / Capital employed excluding EUR ~800m goodwill from the
acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L4Q); previous year: pro-forma figure incl. IFRS 16 effects
Order Intake Development by SizeOrder Intake and Sales (L4Q)
Sales by Region
Dairy Farming -2% YoY
Dairy Processing -8% YoY
Food 7% YoY
Beverages 4% YoY
Pharma/Chemical 8% YoY
Other Industries 11% YoY
GEA 3% YoY
Sales L4Q
as of Q2 19
EUR 4,866m
Sales L4Q
as of Q2 19
EUR 4,866m
Asia-Pacific 7% YoY 7% adj. YoY
DACH & Eastern Europe -1% YoY -2% adj. YoY
Latin America 7% YoY 13% adj. YoY
North America 5% YoY 0% adj. YoY
Northern/Central Europe 11% YoY 10% adj. YoY
Western Europe, M. East & Africa -7% YoY -9% adj. YoY
GEA 3% YoY 2% adj. YoY
4,000 €m
4,500 €m
5,000 €m
5,500 €m
Q2 16 Q2 17 Q2 18 Q2 19
Order Intake Sales
805 754 812 758 788 729850 853 802 748 791 802 811
193156
221211 228
185
270 218 281210
260 219 238
179137
79116 89
107
12232
180
16076 127 80
46
36111
50136
35
75
0
120
79 107 38 18
1,222
1,084
1,2231,136
1,241
1,057
1,317
1,103
1,383
1,197 1,2351,186 1,147
0€m
200€m
400€m
600€m
800€m
1,000€m
1,200€m
1,400€m
Q2 16 Q2 17 Q2 18 Q2 19
< €1m >= €1m < €5m >= €5m < €15m >= €15m
[ in EU R mill ion] Q2 18 Q2 19 ∆ Y oY L4 Q Q2 18 L4 Q Q2 19 ∆ Y oY
Order Int ake 1,383.0 1,14 6 .8 -17.1% 4,859.3 4 ,76 5.2 -1.9%
Sales 1,227.0 1,2 4 7.3 1.7% 4,728.5 4 ,8 6 6 .4 2.9%
Order B acklog 2,554.4 2 ,4 19 .8 -5.3% 2,554.4 2 ,4 19 .8 -5.3%
EB ITD A1
141.9 111.2 -21.6% 531.7 4 70 .8 -11.5%
EB ITD A M arg in1
11.6% 8 .9 % -265 bps 11.2% 9 .7% -157 bps
EB IT1
91.4 57.5 -37.1% 369.9 2 73 .2 -26.1%
EB IT M arg in1
7.4% 4 .6 % -284 bps 7.8% 5.6 % -221 bps
R OC E2
15.5% 10 .5% -491 bps 15.5% 10 .5% -491 bps
20
Sales by Customer
Industry25%
10%
36%
6%
8%
16%
BA Equipment – Q2 2019 figures
GEA Q2 2019 Figures
Order Intake Development by SizeOrder Intake and Sales (L4Q)
Sales by Region
Dairy Farming -2% YoY
Dairy Processing -1% YoY
Food 13% YoY
Beverages 5% YoY
Pharma/Chemical 23% YoY
Other Industries 3% YoY
BA Equipment 6% YoY
Sales L4Q
as of Q2 19
EUR 2,653m
Asia-Pacific 19% YoY 18% adj. YoY
DACH & Eastern Europe 8% YoY 6% adj. YoY
Latin America -2% YoY 7% adj. YoY
North America 2% YoY -2% adj. YoY
Northern/Central Europe 3% YoY 1% adj. YoY
Western Europe, M. East & Africa 1% YoY -4% adj. YoY
BA Equipment 6% YoY 4% adj. YoY
20%
23%
7%21%
13%
17%
Sales L4Q
as of Q2 19
EUR 2,653m
2,000 €m
2,200 €m
2,400 €m
2,600 €m
2,800 €m
3,000 €m
3,200 €m
3,400 €m
Q2 16 Q2 17 Q2 18 Q2 19
Order Intake Sales
551 522 556 550 566 538595 633 585 536
590 594 585
2532
42 53 3640
4960
5681
32 73 69418
0 19 2027
948
6 516 6
617562
598 622 622577
671701 688
624 649683 660
0€m
100€m
200€m
300€m
400€m
500€m
600€m
700€m
800€m
Q2 16 Q2 17 Q2 18 Q2 19
< €1m >= €1m < €5m >= €5m < €15m >= €15m
[ in EU R mill ion] Q2 18 Q2 19 ∆ Y oY L4 Q Q2 18 L4 Q Q2 19 ∆ Y oY
Order Int ake 688.3 6 6 0 .5 -4.0% 2,637.5 2 ,6 16 .2 -0.8%
Sales 653.2 6 71.1 2.7% 2,499.2 2 ,6 53 .0 6.2%
Order B acklog 898.5 8 57.5 -4.6% 898.5 8 57.5 -4.6%
EB ITD A1
97.9 79 .8 -18.5% 387.9 3 9 2 .7 1.2%
EB ITD A M arg in1
15.0% 11.9 % -309 bps 15.5% 14 .8 % -72 bps
EB IT1
66.7 4 6 .3 -30.5% 284.5 2 6 7.4 -6.0%
EB IT M arg in1
10.2% 6 .9 % -330 bps 11.4% 10 .1% -131 bps
R OC E2
16.5% 14 .3 % -220 bps 16.5% 14 .3 % -220 bps
21
1 Before effects from restructuring (see Annual Report, page 28 ff.); previous year: pro-forma figure incl. IFRS 16 effects; 2 ROCE = EBIT1 (L4Q) / Capital employed excluding EUR ~800m goodwill from the
acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L4Q); previous year: pro-forma figure incl. IFRS 16 effects
BA Solutions – Q2 2019 figures
GEA Q2 2019 Figures
Sales by Customer
Industry
Order Intake Development by SizeOrder Intake and Sales (L4Q)
Sales by Region
Dairy Processing -11% YoY
Food -2% YoY
Beverages 4% YoY
Pharma/Chemical 3% YoY
Other Industries 22% YoY
BA Solutions 0% YoY
25%
25%17%
21%
12%
Asia-Pacific -1% YoY -1% adj. YoY
DACH & Eastern Europe -8% YoY -9% adj. YoY
Latin America 13% YoY 16% adj. YoY
North America 8% YoY 4% adj. YoY
Northern/Central Europe 23% YoY 22% adj. YoY
Western Europe, M. East & Africa -14% YoY -13% adj. YoY
BA Solutions 0% YoY 0% adj. YoY
26%
19%
8%14%
16%
17%
Sales L4Q
as of Q2 19
EUR 2,465m
Sales L4Q
as of Q2 19
EUR 2,465m
2,000 €m
2,200 €m
2,400 €m
2,600 €m
2,800 €m
3,000 €m
3,200 €m
3,400 €m
Q2 16 Q2 17 Q2 18 Q2 19
Order Intake Sales
307 278 316258 274 242
326 281 278 267 269 278 297
168125
179
158192
146
221
158225
129229
146169
138
129
79
9770
108
95
23
132
15371
111 74
46
36
111
50
136
35
75
0
120
79 8538 18
659
569
685
564
672
531
717
462
755
628654
573 557
0€m
100€m
200€m
300€m
400€m
500€m
600€m
700€m
800€m
Q2 16 Q2 17 Q2 18 Q2 19
< €1m >= €1m < €5m >= €5m < €15m >= €15m
22
[ in EU R mill ion] Q2 18 Q2 19 ∆ Y oY L4 Q Q2 18 L4 Q Q2 19 ∆ Y oY
Order Int ake 755.3 557.0 -26.3% 2,465.7 2 ,4 12 .1 -2.2%
Sales 633.4 6 4 2 .4 1.4% 2,456.6 2 ,4 6 4 .9 0.3%
Order B acklog 1,726.8 1,6 3 8 .7 -5.1% 1,726.8 1,6 3 8 .7 -5.1%
EB ITD A1
44.9 3 2 .6 -27.5% 154.1 115.2 -25.2%
EB ITD A M arg in1
7.1% 5.1% -202 bps 6.3% 4 .7% -160 bps
EB IT1
28.7 16 .0 -44.4% 107.3 55.0 -48.8%
EB IT M arg in1
4.5% 2 .5% -205 bps 4.4% 2 .2 % -214 bps
R OC E2
16.0% 8 .0 % -807 bps 16.0% 8 .0 % -807 bps
1 Before effects from restructuring (see Annual Report, page 28 ff.); previous year: pro-forma figure incl. IFRS 16 effects; 2 ROCE = EBIT1 (L4Q) / Capital employed excluding EUR ~800m goodwill from the
acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L4Q); previous year: pro-forma figure incl. IFRS 16 effects
Order intake Q2 2019
GEA Q2 2019 Figures 23
in EURm ∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in %
Order Intake
previous period
Structural Change 0 0.0% 0 0.0% 0 0.0% 69 1.4%
Currency Translation 7 0.5% 1 0.1% 13 0.5% -22 -0.5%
Like-for-Like Development -243 -17.6% -41 -3.4% -165 -6.7% -141 -2.9%
Order Intake
current period4,765 -1.9%1,147 -17.1% 1,147 -3.3% 2,333 -6.1%
L4Q Q2 19 vs. L4Q
Q2 18
1,383 1,186 2,486 4,859
Q2 19 vs. Q2 18 Q2 19 vs. Q1 19Q1 - Q2 19 vs. Q1 -
Q2 18
Sales Q2 2019
GEA Q2 2019 Figures
in EURm ∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in %
Sales
previous period
Structural Change 0 0.0% 0 0.0% 0 0.0% 89 1.9%
Currency Translation 7 0.5% 2 0.1% 14 0.6% -27 -0.6%
Like-for-Like Development 14 1.1% 188 17.8% 24 1.1% 76 1.6%
Sales
current period
Q2 19 vs. Q2 18 Q2 19 vs. Q1 19Q1 - Q2 19 vs. Q1 -
Q2 18
L4Q Q2 19 vs. L4Q
Q2 18
4,729
1,247 1.7% 1,247 18.0% 2,305 1.7% 4,866 2.9%
1,227 1,057 2,266
24
Reported order intake development YoY/QoQ as of Q2 2019
GEA Q2 2019 Figures
Q2 19 L4Q Share of order intake BtB
QoQ YoY YoY Q2 19 L4Q L4Q
Dairy Farming 12% 0.97
Dairy Processing 17% 0.98
Food 30% 0.96
Beverages 12% 1.08
Food & Beverages 72% 0.99
Pharma 7% 0.93
Chemical 6% 0.88
Pharma/Chemical 13% 0.91
Oil & Gas 1% 0.96
Marine 2% 1.04
Others 11% 1.03
Other Industries 15% 1.02
GEA 100% 0.98
Q2 19 Quarter selective
Less than -5% Between -5% and -1% Between -1% and 1% Between 1% and 5% More than 5%
25
60%
80%
100%
120%
140%
160%
60%
80%
100%
120%
140%
160%Pharma/Chemical 4%
Other Industries 1%
GEA 3%
CAGR Q2 12 - Q2 19
Dairy Farming 1%
Dairy Processing -1%
GEA 2%
CAGR Q2 12 - Q2 19
L4Q order intake and sales indexedQ2 2012 to Q2 2019 per customer industry
Ord
er
Inta
ke
Sa
les
GEA Q2 2019 Figures
Food 4%
Beverages 1%
GEA 2%
CAGR Q2 12 - Q2 19
Pharma/Chemical 2%
Other Industries 2%
GEA 2%
CAGR Q2 12 - Q2 19
Dairy Farming 2%
Dairy Processing 1%
GEA 3%
CAGR Q2 12 - Q2 19
Food 6%
Beverages 0%
GEA 3%
CAGR Q2 12 - Q2 19
26
Order intake split as of Q2 2019 L4Q: Top 20 countries account for 77% of GEA‘s order intake
More than 5%
Betw een 1% and 5%
Betw een -1% and 1%
Betw een -5% and -1%
Less than -5%
GEA Q2 2019 Figures 27
47% of order intake
18% of order intake
3% of order intake
3% of order intake
29% of order intake
USA 15% 0.93
China 9% 1.06
Germany 9% 0.96
France 4% 1.08
Russia 4% 1.11
Netherlands 4% 1.03
Great Britain 3% 0.90
Canada 3% 1.25
Spain 3% 1.01
Brazil 3% 1.16
Italy 3% 1.14
India 2% 0.94
Poland 2% 0.91
Belgium 2% 0.91
Ireland 2% 1.05
Mexico 2% 0.89
Australia 2% 1.08
Japan 2% 0.80
Switzerland 1% 1.21
Indonesia 1% 1.06
Emerging Markets 37% 0.94
GEA 100% 0.98
CountryShare of total
order intakeGrowth yoy BtB
Additional financial information for FY 2019
GEA Q2 2019 Figures
Strategic
Projects
(included in
EBITDA
before
restructuring)
(€m)
around
50
Depreciation
&
Amortization
(incl. PPA,
IFRS 16)
(€m)
around
214
Thereof
impact from
PPA (€m)
around
35
Capex
before
restructuring
(of sales)
max.
3%
Tax Rate
around
23%
Dividend
Policy
Payout ratio
40%-
50% of net
income
28
Thereof
impact from
initial
application of
IFRS 16
(€m)
around
61
28
Pro Forma Q2 2018 EBITDA and EBIT before restructuring
29GEA Q2 2019 Figures
€m
Q2 18op. EBITDA
Pro Forma
IFRS 16
Pro Forma
op. EBITDA
Strategic
ProjectsPPA
Pro Forma
EBITDA bef. Restr.
GEA AG 133.0 15.9 148.9 6.5 0.5 141.9
BAE 91.0 7.5 98.5 0.2 0.4 97.9
BAS 37.6 7.0 44.6 0.2 0.0 44.4
Other/GCC 4.3 1.4 5.8 6.1 0.0 -0.3
€m
Q2 18op. EBIT
Pro Forma
IFRS 16
Pro Forma
op. EBIT
Strategic
ProjectsPPA
Pro Forma
EBIT bef. Restr.
GEA AG 108.9 0.4 109.3 6.5 11.4 91.4
BAE 75.6 0.3 75.9 0.2 9.0 66.7
BAS 31.2 0.1 31.3 0.2 2.4 28.7
Other/GCC 2.1 0.0 2.2 6.1 0.0 -4.0
FX Development
GEA Q2 2019 Figures 3030
EUR 47% - -
USD 16% 1.13 -7%
CNY 7% 7.67 -1%
DKK 4% 7.47 0%
GBP 4% 0.87 -1%
RUB 3% 73.74 2%
CAD 2% 1.51 -3%
SGD 2% 1.54 -4%
PLN 2% 4.29 2%
BRL 2% 4.34 5%
JPY 2% 124.28 -6%
∆ FX YoY June 2019 vs
June 2018Currency % total June Q2 *
FX Rates June Q2
(average)
*Share of functional (i.e. local P&Ls) currencies in the translation mix of the group
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