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Düsseldorf, July 29th, 2015
Q2 2015 Presentation for Roadshows and Conferences
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
2 GEA on Roadshows and Conferences - Q2 2015
engineering for a better world
Table of Contents
GEA Equity Story Pages 4 - 26
Q2 2015 Results Presentation Pages 28 - 44
Back-ups Pages 50 - 58
Historical Key Figures GEA Group & Segments Pages 59 - 62
ADR Information Page 63
3 GEA on Roadshows and Conferences - Q2 2015
engineering for a better world
GEA 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.
GEA in summary
Sales
EUR 4.5bn (FY14)
Operating EBIT Margin
11.4% (FY14)
Employees
~18,000 (Jun 15)
Market Cap
>EUR 7.5bn (Jun 15)
Dairy Farming Dairy Processing Beverages Food
4 GEA on Roadshows and Conferences - Q2 2015
engineering for a better world
You are in touch with food processed by GEA equipment every day…
GEA in summary
…we are all this and more every day.
Every 4th liter
of milk you are
consuming has been
processed through
GEA equipment.
Every 3rd instant
coffee production
line around the globe
has been built by
GEA.
Every 3rd chicken
nugget you are
eating has been
processed by our
equipment.
Every 2nd liter of
beer you are
drinking has gone
through our
components.
5 GEA on Roadshows and Conferences - Q2 2015
engineering for a better world
Urbanization
Shanghai
necessary agricultural supply area
Illustrative
What we like about the food industry (1): Steady growth rates due to continuing urbanization
2.6
5.3
2010 2050
Emerging markets (B)
1.0 1.1
2010 2050
Developed economies (B)
~ 200 million people moving into cities p.a. consuming
ever more processed and convenience food
Source: United Nations; Euromonitor; The Guardian; Oxford Economics; Documentation “Wie wird die Stadt satt” (ARD 24.09.2014)
By the year 2050 the
world’s population will live
50% in the cities
50% in the countryside
300 KM
Germany
Today the world’s
population lives
75% in the cities
25% in the countryside
6 GEA on Roadshows and Conferences - Q2 2015
engineering for a better world
What we like about the food industry (2): Stable consumer spending also in tough times
Economically
good times
Economically
difficult times
7 GEA on Roadshows and Conferences - Q2 2015
engineering for a better world
What we like about the food industry (3): Zero failure tolerance a significant entry barrier
If equipment fails in the food industry, the end-consumer’s health could be at risk
Would you as a food producer save money on a machine risking a food scandal
if the machine is not working properly?
8 GEA on Roadshows and Conferences - Q2 2015
engineering for a better world
…
…
…
…
Quality of After-Sales Service 23%
Price 30%
Machine Quality and Performance 71%
…
…
Ranking of key buying criterion according to GEA customer satisfaction survey,
September 20141
For GEA’s customers, machine quality and performance is by far #1 buying criterion
What we like about the food industry (4): Price apparently not the most decisive purchase criterion
1 Stratified sample size n=3274, external poll
9 GEA on Roadshows and Conferences - Q2 2015
engineering for a better world
Source: Frankfurter Allgemeine Zeitung (26.06.2014)
~ 3,500 new products p.a. entering
the US food market
~ 2,000 new food products p.a.
in German supermarkets alone
What we like about the food industry (5): Continuous launch of new products to stimulate demand
Additionally, higher resource efficiency (e.g. power, water usage) is a major competitive
advantage for an equipment supplier
GEA on Roadshows and Conferences - Q2 2015 10
engineering for a better world
~2%
~12%
~32%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Top Customer Top 10 Top 50 Top 100 Top 150 Top 200
What we like about the food industry (6): GEA’s client base is highly fragmented
Cumulative Revenue Share
Number of customers
~ 30% of the Top 50 customers
are already coming from
Emerging Markets
11 GEA on Roadshows and Conferences - Q2 2015
engineering for a better world
Local Emerging Markets food producers grow faster than multinationals
1 65 listed local food players in EM with sales > EUR 1bn, in total sales of EUR 210bn in FY 2013 ; 11% CAGR based on FY 2010 – FY 2013 sales in EUR Source: Thomson Reuters
Sales CAGR FY 2010-13
Local EM
food producers1
32%
68%
1/3 of local players are
not yet GEA customers1
GEA
customers
Selection of local GEA customers in Emerging Markets
11%
GEA on Roadshows and Conferences - Q2 2015 12
engineering for a better world
Our vision “GEA 2020”: To be the first choice of our customers
Our ARTE framework defines our strategy how to reach
the target footprint “GEA 2020”
In particular we always want to be the first choice
of our customers in the relevant food industry.
the globally leading engineering group to provide smart
solutions to sophisticated process industries.
GEA to become
13 GEA on Roadshows and Conferences - Q2 2015
engineering for a better world
ARTE framework as pillars for GEA’s strategy
Regions Technologies Functional Excellence
• Exploit market
potential in target
applications
• Align GEA-wide
application strategy
and customer
approach
• Capture global
growth opportunities
• Expand local
presence
• Coordinate regional
approaches across
GEA
• Strengthen
innovation and
technological
leadership
• Foster cross-
business colla-
boration in R&D
• Increase efficiency
in operations and
support functions
• Reduce
organizational
complexity
Target Footprint 2020
Applications
• Exploit market
potential in target
applications
• Align GEA-wide
application strategy
and customer
approach
14 GEA on Roadshows and Conferences - Q2 2015
engineering for a better world
1
4
2
3
5
8
6
Targeted applications for target footprint “GEA 2020”
Grow leading position in dairy
Grow leading position in liquid food
Strengthen personal care
Expand in animal proteins
Expand in total solutions for
edible oils, starch & sugar
Enter confectionery, biscuits & pizza
Strengthen packaging
competencies
Foster processing intelligence &
automation
7
GEA on Roadshows and Conferences - Q2 2015 15
engineering for a better world
Example how GEA executes its application strategy
Milk intake
& preparation
Milk storage
& distribution Standardization
Bacteria removal
(optional) Pasteurization
Whey drainage
& pre-press Pressing
Water cooling,
brining, ripening
Cutting
& Slicing
Primary
packaging
Curd
production
Final process Press & ripe Coagulate & de-whey
Bacteria
starter mixing
• Milking
parlor
• Standardization
separator
• Sterilization
separator
• Heat
exchanger
• Valves
• Pumps
• Tanks
• Tank
• Dosing unit • Cheese vat • Pressing line • Brining system
• Brine treatment
• Cutter
• Slicer
• Packer • Curd filler
Milk intake & preparation
16 GEA on Roadshows and Conferences - Q2 2015
De Klokslag CMT for smaller lines
engineering for a better world
GEA’s food exposure 75% - 80%
Food
Non-
Food
Sales exposure 2020:
75% - 80% food No 100% food exposure due to multi-purpose
functionality of our products:
17 GEA on Roadshows and Conferences - Q2 2015
engineering for a better world
Project “Fit for 2020”: From four stand-alone Segments to two integrated Business Areas
Former organization New current organization
Executive Board
• Stand-alone effective Segments driving
own technologies and market approaches
• Limited group perspective and role of the
corporate center
• Each Segment with individual go-to-market
concepts and regional footprint
• Bundling of Segments into two BAs
according to business model logic
• “One GEA” in countries as a platform for
growth within regions / countries
• Strengthening and streamlining of
global group functions
• Increased efficiency and standardization in
newly established Shared Service Center
Equipment BA
Solutions BA
Global Corp.
Center
SSC RT FT ME PE Head-
quarter
Regions Regions Regions Regions
Support Support Support Support
Regions / Countries
Executive Board
GEA on Roadshows and Conferences - Q2 2015 18
engineering for a better world
A pplications R egions T echnologies Functional E xcellence
New current organizational set-up (“Fit for 2020”) reflects all elements of ARTE strategy
Executive Board
Shared Services Center (SCC)
Global Corporate Center (GCC)
North
America
Latin
America
Western E.
& MEA
Nordics, UK/IE,
& BeNeLux Asia-Pacific
DACH &
Eastern E.
Product Engineering & Development
Product Management & Sales
Supply Chain & Production
Equipment Service
Global Corporate Center (GCC)
Technology Centers
Application Centers
Solutions Service
Equipment Business Area Solutions Business Area
A
R
T
T E
E
T
GEA on Roadshows and Conferences - Q2 2015 19
engineering for a better world
Financial Targets
FY 2014 - 2020
CAGR Organic Sales Growth FY 2014 - FY 2020: 4% to 6%
FY 2017 - 2020
Service to Sales Ratio: ~30%
Operating EBIT Margin: 13% to 16%
Working Capital to Sales Ratio: 10% to 12%
Capex to Sales Ratio: 1.5% to 2.0%
Cash Flow Driver Margin: 12% to 15%
ROCE: 20% to 25%
Net Effective Tax Rate: 24%
20 GEA on Roadshows and Conferences - Q2 2015
engineering for a better world
8.8%
6.8%
8.4%
10.5% 10.3% 10.6% 11.4% 11.6%
16%
2008 2009 2010 2011 2012 2013 2014 Q2 15LTM
1 Target2017-2020
GEA has gradually managed up Operating EBIT Margin to > 11%
Financial Targets for FY 2017 - FY 2020: Operating EBIT Margin: 13% to 16%
Sales growth
21 GEA on Roadshows and Conferences - Q2 2015
min. 13% Incl. “F2020“ savings of
>€125m until 2017
Upside:
• Service
• Op. leverage
• Underperforming units
engineering for a better world
Strong focus on ROCE and cash generation
18.6% 18.6%
16.7%
18.8% 19.3% 19.6%
22.1%
24.7% 25.0% 25.6% 26.4% 26.6% 26.7%
4.3% 4.6% 5.0%
7.4% 8.3% 9.0% 9.6% 9.7% 9.3% 9.3%
10.1% 10.2% 10.5%
Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15
ROCE (average LTM) Cash Flow Driver Margin (LTM)
Note: 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)
CFD LTM = (EBITDA (LTM) – Capex (LTM) -/+ Change Working Capital (LTM)) / Sales (LTM)
ROCE and Cash Flow Driver Margin: since Q1 2014 adjusted for “F2020” related one-offs
22 GEA on Roadshows and Conferences - Q2 2015
engineering for a better world
Sources of funds:
Significant cash flow 2015 - 2017
Stronger cash generation going forward leading to higher dividend payout ratio
2. Strengthen GEA’s application know-how by
doing (bolt-on) acquisitions over a couple of
years
3. Repayment of financial debt
4. Invest in organic business development
(Service, R&D, regional presence)
5. Distribution of residual cash to shareholders
Capital allocation priorities
2017 Proceeds GEA HX Cash flow before
M&A and dividends
~1
~2
~1
Key objectives
• Maintain financial flexibility
• Maintain investment grade credit rating
• Rating relevant gross debt: 2.0-2.5x EBITDA
• Average net financial debt: 0.5-1.0x EBITDA
[EURbn] 1. Dividend payments: Change of payout ratio
from 1/3 to 40-50% of net income
23 GEA on Roadshows and Conferences - Q2 2015
engineering for a better world
Steady growth rates
(catch-up in Emerging Markets)
Superior margin levels
(high technological requirements; high barriers to entry)
Food safety concerns
Innovation for resource efficiency
(power, water, etc.)
Product Innovation
(continuous launch of new products to stimulate demand)
Summary: What we like about the food industry
1l 10l
24 GEA on Roadshows and Conferences - Q2 2015
engineering for a better world
Provided that there is no decline in global economic growth and a constant currency
basis compared to FY 2014, and without taking into account the impact of acquisitions
and one-off effects, we are aiming in FY 2015 for:
2015 EBITDA guidance to take “Fit for 2020” savings into account/ other elements confirmed
Sales
moderate organic
growth
Operating EBITDA (EURm)
580 – 620 (before “Fit for 2020”)
Cash Flow Driver Margin
9.0% - 9.5%
Savings “Fit for 2020” (EURm)
10 - 20
Operating EBITDA (EURm)
590 – 640 (new target 2015)
GEA on Roadshows and Conferences - Q2 2015 25
engineering for a better world
Key Messages
• 4% to 6% organic sales growth (FY 2014 – FY 2020)
• 13% to 16% Operating EBIT-Margin (FY 2017 – FY 2020)
GEA with clear growth and profitability targets
• Clear plans for midterm use of net cash position for further growth
• Dividend payout ratio increased to a range of 40% to 50%
• Priority on M&A following clear criteria and strategic vision
Capital allocation
• Cost savings of at least EUR 125m net p.a.
• New set-up offers further potential to increase efficiency
New current organizational set-up “Fit for 2020”
GEA is the largest stock listed company to invest in the growing food processing equipment market
26 GEA on Roadshows and Conferences - Q2 2015
engineering for a better world
Executive Summary Q2 2015
Order
Intake (EURm)
1,149
Sales
(EURm)
1,150
Operating
EBITDA (EURm)
139.3
Operating
EBIT (EURm)
119.8
Op. ROCE1
26.7%
Operating CFD
Margin
10.5%
D -2% YoY D +3% YoY D +9% YoY D +10% YoY D +168 bps
YoY
D +121 bps
YoY
Structural change:
+0.5% YoY
FX translation:
+6.6% YoY
Structural change:
+0.5% YoY
FX translation:
+6.5% YoY
Record margin
for Q2 of
12.1%
Record margin
for Q2 of
10.4%
Key Highlights Q2 2015:
1 Operating ROCE LTM = operating EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)
GEA on Roadshows and Conferences - Q2 2015 28
engineering for a better world
Key figures and change YoY Q2 2015
Operating EBIT
652 629
570 573
Q2 2014 Q2 2015
Operating EBIT Margin
Sales Order Intake
1,149 1,170
GEA Solutions
GEA Equipment
adjusted1: -9%
D -2%
D -4%
D +1%
Q2 2014 Q2 2015 D YoY
GEA Equipment 10.5% 12.2% +167 bps
GEA Solutions 8.8% 8.7 % -12 bps
GEA Group 9.8% 10.4% +63 bps
[EURm] [EURm]
603 613
565 588
Q2 2014 Q2 2015
1,150 1,118
GEA Solutions
GEA Equipment
adjusted1: -4%
D +3%
D +2%
D +4%
[EURm]
53 53
59 72
Q2 2014 Q2 2015
120 109
GEA Solutions
GEA Equipment
D +10%
D 0%
D +20%
[EURm]
1 Adjusted = before currency translation and structural effects
GEA on Roadshows and Conferences - Q2 2015 29
engineering for a better world
9.3%
11.0%
12.0% 11.9%
12.6%
13.4%
7.2%
9.0%
10.3% 10.3%
10.9%
11.6%
6%
7%
8%
9%
10%
11%
12%
13%
2,000
3,000
4,000
5,000
6,000
Q210
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
Q314
Q414
Q115
Q215
Order Intake Sales Operating EBITDA Margin Operating EBIT Margin
Development LTM: Order Intake, Sales, Operating Margins [EURm]
Operating EBIT Margin at record 11.6% as of Q2 2015 LTM
GEA on Roadshows and Conferences - Q2 2015 30
engineering for a better world
Order intake -2% YoY but +2% QoQ
[EURm]
619 705 686 669
737 711 702 745 710 722 724 747 754 773 765 835 791 791
168
185 166 208
214 172
221 175 144
234 167
211 160 170 174
182 163 190
135
135 128 111
96 102
124 107 131
102 132
67 88
103 68
87 91
112 60 58
100
44 65 112
110
162 144 121
22
123 160
54 83
55
0
200
400
600
800
1,000
1,200
1,400
Q2 11(excl.FS)
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 Q3 14 Q4 14 Q1 15 Q2 15
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
1,400
1,200
1,000
f L4Q:
796 f L4Q:
749 f L4Q:
719
Order Intake Development by size since Q2 2011
GEA on Roadshows and Conferences - Q2 2015 31
engineering for a better world
Regional Sales Split as of Q2 2015 LTM:
North America
D YoY adj.: +3%
18%
Eastern Europe
& CIS
8%
D YoY adj.: +2%
Western Europe
36%
D YoY adj.: +5%
Latin America
D YoY adj.: -3%
6%
Africa
D YoY adj.: +13%
4%
Middle East
D YoY adj.: -22%
3%
Asia-Pacific
D YoY adj.: -2%
25%
Emerging Markets1
36%
D YoY adj.: -4%
Top-3-Countries
USA: 17% (15%)
D YoY adj.: +2%
China: 10% (10%)
D YoY adj.: -1%
Germany: 10% (9%)
D YoY adj.: +10%
1 According to the definition of emerging/developing economies by International Monetary Fund.
Note: adjusted = before currency translation and structural effects
GEA on Roadshows and Conferences - Q2 2015 32
engineering for a better world
Sales by Customer Industry LTM: Good growth from dairy sector
Average last four quarters: Q1 – Q4 2009 = Index 100
Note: Adjusted growth rates per customer industry are only available since Q1 2011
14% (14%)
24% (23%)
22% (22%)
12% (14%)
12% (12%)
16% (15%)
Sales LTM
as of Q2 2015:
EUR 4,604m
+1% adj. YoY
Dairy Farming
D +6% adj. YoY
Food
D +2% adj. YoY
Beverages
D -16% adj. YoY
Other Industries
D +6% adj. YoY
Pharma/
Chemical
D -3% adj. YoY Dairy
Processing
D +6% adj. YoY
60%
100%
140%
180%
220%
Dairy Farming Dairy Processing GEA Group
60%
100%
140%
180%
220%
Food Beverages GEA Group
Adjusted Sales CAGR 10-14: +15%
Adjusted Sales CAGR 10-14: +9%
Adjusted Sales CAGR 10-14: +4%
Adjusted Sales CAGR 10-14: +3%
60%
100%
140%
180%
220%
Q409
Q110
Q210
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
Q314
Q414
Q115
Q215
Pharma/Chemical Other Industries GEA Group
Adjusted Sales CAGR 10-14: +7% Adjusted Sales CAGR 10-14: +5%
GEA Group Adjusted Sales CAGR 09-14: +6%
Note: adjusted = before currency translation and structural effects
GEA on Roadshows and Conferences - Q2 2015 33
engineering for a better world
<= 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 Ratio > 1 in Pharma/Chemical driven by strong West European business
GEA on Roadshows and Conferences - Q2 2015 34
Book to bill ratio (L4Q)
Q2 2015
Dairy Farming 1.00 5.1% 0.90 1.0% 1.00 5.3% 0.99 1.0% 0.34 0.0% 0.83 0.0% 1.14 1.8% 1.00 14.3%
Dairy Processing 0.83 7.8% 1.50 2.3% 0.66 1.9% 0.78 1.3% 0.70 0.5% 1.72 1.3% 1.08 7.9% 0.95 23.0%
Food 1.02 9.5% 0.90 2.0% 1.04 3.8% 1.00 1.2% 0.91 1.4% 0.90 0.8% 0.95 3.2% 0.99 21.8%
Beverages 0.94 3.3% 1.05 1.4% 0.97 1.5% 1.16 0.9% 0.73 0.6% 0.60 0.2% 1.38 4.5% 1.07 12.4%
Food & Beverages 0.94 25.7% 1.08 6.6% 0.93 12.5% 0.95 4.5% 0.82 2.6% 1.18 2.2% 1.12 17.4% 0.99 71.5%
Pharma 1.35 3.2% 1.92 0.6% 1.04 1.1% 0.93 0.4% 2.24 0.1% 0.59 0.2% 0.93 2.2% 1.13 7.7%
Chemical 1.20 1.5% 0.92 0.1% 0.83 1.0% 0.82 0.2% 2.90 0.3% 2.75 0.4% 0.98 2.0% 1.08 5.5%
Pharma/Chemical 1.30 4.7% 1.59 0.7% 0.93 2.2% 0.90 0.6% 2.76 0.4% 1.34 0.6% 0.95 4.1% 1.11 13.2%
Environment 1.03 1.6% 1.42 0.4% 1.13 0.8% 1.57 0.3% 1.16 0.1% 0.92 0.1% 1.03 1.2% 1.10 4.5%
Oil & Gas 0.62 0.5% 1.07 0.7% 1.16 0.9% 0.71 0.0% 0.33 0.0% 1.42 0.3% 0.45 0.5% 0.81 2.9%
Marine 0.95 1.4% 0.99 0.1% 1.13 0.2% 0.67 0.1% 1.00 0.0% 1.77 0.1% 0.87 1.2% 0.93 3.0%
Power 0.40 0.1% 1.70 0.1% 0.40 0.1% 0.95 0.1% 0.90 0.1% 1.21 0.4% 1.13 0.1% 0.83 1.0%
Others 1.03 1.4% 0.93 0.4% 0.95 0.3% 0.99 0.2% 0.95 0.0% 1.15 0.2% 1.07 1.4% 1.03 3.8%
Other Industries 0.92 4.9% 1.12 1.6% 1.05 2.3% 1.09 0.7% 0.83 0.3% 1.25 1.0% 0.88 4.4% 0.96 15.3%
Total 0.97 35.3% 1.12 8.9% 0.94 17.0% 0.96 5.7% 0.89 3.2% 1.22 3.8% 1.04 26.0% 1.00 100.0%
Western
EuropeEastern Europe & CIS North America Latin America Africa Middle - East Asia - Pacific Total
engineering for a better world
Order Backlog: Continues to increase
1,200 1,350 1,300 1,350
701
735 837 845
Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15
[EURm]
1.07 1.05 1.07 1.08 1.01 1.00 1.06 1.05 1.07 1.05 1.02 1.01 1.00
2,087
1,901 1,932 1,830
2,136 2,015
2,085 1,983
2,137 2,185
2,038
2,256
LTM BtB ratio #
2,195
Order Backlog invoicable in respective FY Order Backlog invoicable after respective FY
GEA on Roadshows and Conferences - Q2 2015 35
engineering for a better world
ROCE Development: tends to improve before one-offs
Note: 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)
Op. ROCE LTM = op. EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)
[EURm]
1,830 1,873 1,887 1,890 1,891 1,886 1,895 1,900 1,912 1,929 1,943 1,974 2,007
18.6% 18.6%
16.7%
18.8% 19.3% 19.6%
22.1% 22.6% 22.9% 23.2% 22.6% 22.7%
16.4%
24.7% 25.0% 25.6% 26.4% 26.6% 26.7%
Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15
Capital Employed (average LTM) ROCE (average LTM) op. ROCE (average LTM)
GEA on Roadshows and Conferences - Q2 2015 36
engineering for a better world
Working Capital to sales ratio around 12%
[EURm]
449 460
395
523 521 511
356
515 521 538
363
535
590 548
424
588 583
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% 12.1% 12.1% 12.2% 12.3%
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 Q3 14 Q4 14 Q1 15 Q2 15
Working Capital Working Capital (average LTM) as % of sales (LTM)
GEA on Roadshows and Conferences - Q2 2015 37
engineering for a better world
Cash Flow Driver Margin: slight improvement before one-offs
-147 -132 -88 -26 10 33 19 -1 -19 -38 -41 -47 -43
436 441 420 462 471 478 515 527 536 546 540 550
433
-116 -120 -125
-126 -126 -124 -120 -122 -123 -114 -94 -92 -87
4.3% 4.6% 5.0%
7.4% 8.3%
9.0% 9.6% 9.3% 9.0% 8.8% 9.0% 9.0%
6.6%
9.7% 9.3% 9.3% 10.1% 10.2% 10.5%
Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15
Delta Working Capital (Average LTM) EBITDA (LTM) Capex (LTM) Cash Flow Driver Margin (LTM) op. Cash Flow Driver Margin (LTM)
EBITDA Capex D Working Capital (Average LTM)
Sales Sales Sales - - +
[EURm]
1 Operating Cash Flow Driver Margin is based on operating EBITDA, not on reported EBITDA
1
GEA on Roadshows and Conferences - Q2 2015 38
engineering for a better world
Net Liquidity reconciliation
[EURm]
-134.7
-130.7
-27.2
-115.9
-86.9
-91.6
603.4
-134.1
-643.4
-551.8
Net Cash 30.06.2015
Proceeds from HX-Sale Net of Transaction Costs 1,030.1
Dividend
Effects from Acquisitions
Net Debt 30.06.2014 incl. HX
Capex
Taxes / Interests
256.1
433.3
Others (therein EUR 91.3m translation impact)
Net Debt 30.06.2014 w/o HX
Discontinued Operations (w/o HX)
EBITDA
Net Debt bef. DOP, M&A and Dividend
22.7
Elimination Net Cash Position HX
Delta Working Capital
Cash generation LTM: ~ EUR 418m
D +EUR 418m excl.
EUR 91.3m
translation impact
1therein cash with maturity 6-12 months (EUR 200m)
1
GEA on Roadshows and Conferences - Q2 2015 39
engineering for a better world
Service Business for Q2 2015 LTM: 28% of Sales
Sales growth YoY of +10.7% (+6.3% adjusted)
[EURm]
1,172
761
425
1,297
861
484
GEA Group GEA Equipment GEA Solutions
D +11%
(+6% adjusted)
D +13%
(+9% adjusted)
D +14%
(+10% adjusted)
27% 28% 34% 36% 18% 20%
Q2 2014 LTM Q2 2015 LTM Share of Service Sales %
Note: adjusted = before currency translation and structural effects
GEA on Roadshows and Conferences - Q2 2015 40
engineering for a better world
“Fit for 2020“ continues to proceed on track
Thousands of customers appreciated information pointing out why more is in it for
them in the new set-up
Go-live of new organizational architecture happened in early June 2015
Front-loaded implementation: one-off charges of about € 134m in Q2
Downsizing has started
GEA on Roadshows and Conferences - Q2 2015 41
engineering for a better world
Provided that there is no decline in global economic growth and a constant currency
basis compared to FY 2014, and without taking into account the impact of acquisitions
and one-off effects, we are aiming in FY 2015 for:
2015 EBITDA guidance to take “Fit for 2020” savings into account / other elements confirmed
Sales
moderate organic
growth
Operating EBITDA (EURm)
580 – 620 (before “Fit for 2020”)
Cash Flow Driver Margin
9.0% - 9.5%
Savings “Fit for 2020” (EURm)
10 - 20
Operating EBITDA (EURm)
590 – 640 (new target 2015)
GEA on Roadshows and Conferences - Q2 2015 42
engineering for a better world
Additional Financial Information for FY 2015
Depreciation
& Amortization
(incl PPA) (EURm)
around
90
Thereof
impact from
PPA in 2015
and in
subsequent
years (EURm)
around
23 p.a.
Interests
Financial
Liabilities (EURm)
below
17
Dividend Policy
Payout ratio
40-50% of net income
DPS not to be
affected by “Fit
for 2020”
charges
Working
Capital LTM
(of sales
LTM)
around
12%
Target Capex
Level
(of sales)
max.
2%
Tax Rate
around
22%
GEA on Roadshows and Conferences - Q2 2015 43
engineering for a better world
Financial Targets
FY 2014 - 2020
CAGR Organic Sales Growth FY 2014 - FY 2020: 4% to 6%
FY 2017 - 2020
Service to Sales Ratio: ~30%
Operating EBIT Margin: 13% to 16%
Working Capital to Sales Ratio: 10% to 12%
Capex to Sales Ratio: 1.5% to 2.0%
Cash Flow Driver Margin: 12% to 15%
ROCE: 20% to 25%
Net Effective Tax Rate: 24%
GEA on Roadshows and Conferences - Q2 2015 44
engineering for a better world
Aug 14, 2015 Roadshow Canada Montreal Baader-Helvea
Aug 13, 2015 Roadshow USA Boston Berenberg
Aug 18, 2015 Roadshow Poland Warsaw Erste Bank
Investor Relations Calendar Upcoming Roadshows and Conferences
Aug 25, 2015 Conference Finland Helsinki Deutsche Bank
2 0 1 5
Aug 11 - 12, 2015 Conference USA NYC Jefferies
July 30 - 31, 2015 Roadshow UK London HSBC
GEA on Roadshows and Conferences - Q2 2015 45
engineering for a better world
Sept 08, 2015 Conference UK London Credit Suisse
Sept 02, 2015 Roadshow Copenhagen Denmark Danske Bank
Sept 09, 2015 Roadshow France Paris Exane
Sept 10 - 11, 2015 Conference UK London Morgan Stanley
Investor Relations Calendar Upcoming Roadshows and Conferences
Sept 10, 2015 Investor Days BeNeLux Amsterdam UBS
2 0 1 5
GEA on Roadshows and Conferences - Q2 2015 46
engineering for a better world
Sept 17, 2015 Conference Germany Frankfurt equinet
Sept 29, 2015 Conference UK London Bernstein
Sept 22 - 23, 2015 Conference Germany Munich Baader Bank
Sept 30, 2015 Roadshow Scotland Edinburgh Kepler
Oct 01, 2015 Investor Forum Italy Milan J.P. Morgan
Investor Relations Calendar Upcoming Roadshows and Conferences
Sept 30, 2015 Roadshow Germany Frankfurt Commerzbank
2 0 1 5
GEA on Roadshows and Conferences - Q2 2015 47
engineering for a better world
Financial Calendar
2 0 1 5
Oct 28, 2015 Interim Report Q3 2015 Düsseldorf
GEA on Roadshows and Conferences - Q2 2015 48
engineering for a better world
Order Intake Development by Size
619 705 686 669 737 711 702 745 710 722 724 747 754 773 765 835 791 791
168 185 166 208
214 172 221 175 144 234 167 211 160 170 174 182 163 190 135
135 128 111 96
102 124 107 131 102 132 67 88 103 68
87 91 112
60 58 100
44 65
112 110
162 144 121 22 123 160 54 83 55
0
200
400
600
800
1000
1200
1400
Q211
Q2112
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
Q314
Q414
Q115
Q215
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
9.0%
10.3% 10.3% 10.9%
11.6%
0%
2%
4%
6%
8%
10%
12%
0
1000
2000
3000
4000
5000
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
Q314
Q414
Q115
Q215
Order Intake Sales Operating EBIT Margin
Sales by Customer
Industry
36%
25%
18%
8%
6% 3% 4%
Western Europe
Asia-Pacific
North America
Eastern Europe&CIS
Latin America
Middle East
Africa
14%
24%
22%
12%
12%
16%
Dairy Farming
Dairy Processing
Food
Beverages
Pharma/Chemical
Other Industries
[in EUR million] Q2 2014 Q2 2015 ∆ YoY Q1-Q2
2014
Q1-Q2
2015 ∆ YoY
Order Intake
adjusted1 1,169.9 1,148.8 -1.8%
-8.9% 2,194.2 2,276.2
+3.7%
-2.6%
Sales
adjusted1 1,117.7 1,150.1 +2.9%
-4.1% 2,068.3 2,156.5
+4.3%
-2.7%
Order Backlog 2,137.2 2,195.5 +2.7% 2,137.2 2,195.5 +2.7%
Operating EBITDA 128.0 139.3 +8.8% 213.2 237.4 +11.4%
Operating EBITDA-
Margin 11.5% 12.1% +65 bps 10.3% 11.0% +70 bps
Operating EBIT 109.3 119.8 +9.6% 176.1 198.6 +12.7%
Operating EBIT-Margin 9.8% 10.4% +63 bps 8.5% 9.2% +69 bps
Operating ROCE
(LTM)2 25.0% 26.7% +168 bps 25.0% 26.7% +168 bps
Order Intake, Sales, and Operating
EBIT Margin (LTM)
GEA Group
[EURm] [EURm]
LTM as of
Q2 2015:
EUR 4,604m
+1% adj. YoY
LTM as of
Q2 2015:
EUR 4,604m
+1% adj. YoY
+9% / +6% adj.
-12% / -16% adj.
+5% / +2% adj.
+11% / +6% adj.
+10% / +6% adj.
Δ YoY
-21% / -22% adj.
-2% / +2% adj. +14% / +3% adj. +3% / -2% adj. +7% / +5% adj.
Δ YoY -2% / -3% adj.
+14% / +13% adj.
+2% / -3% adj.
Sales by Region
1Adjusted = before currency translation and structural effects 2 Operating ROCE (LTM) = op. EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)
3,000
4,000
5,000
2,000
1,000
1,000
1,200
1,400
w/o FS Incl.FS
GEA on Roadshows and Conferences - Q2 2015 50
engineering for a better world
Sales by Customer
Industry [in EUR million] Q2 2014 Q2 2015 ∆ YoY
Q1-Q2
2014
Q1-Q4
2015 ∆ YoY
Order Intake
adjusted1 569.7 573.0 +0.6%
-6.0% 1,144.7 1,159.6
+1.3%
-4.9%
Sales
adjusted1 565.4 587.9 +4.0%
-2.5% 1,060.8 1,114.8
+5.1%
-1.1%
Order Backlog 624.1 581.4 -6.9% 624.1 581.4 -6.9%
Operating EBITDA 71.7 84.5 +17.7% 128.0 151.8 +18.7%
Operating EBITDA-
Margin 12.7% 14.4% +168 bps 12.1% 13.6% +156 bps
Operating EBIT 59.3 71.5 +20.5% 103.4 125.8 +21.7%
Operating EBIT-Margin 10.5% 12.2% +167 bps 9.7% 11.3% +154 bps
Operating ROCE
(LTM)2 18.7% 20.9% +223 bps 18.7% 20.9% +223 bps
GEA Equipment
Sales by Region
Order Intake Development by Size
493 518 513 501
539 538 528 538 560 548
19
45 35
42
30 32 30
27
27 25
5
8 8 11
6 7 21
17
18
420
450
480
510
540
570
600
Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
12.3% 12.4% 12.4% 12.4% 12.8% 13.1% 13.5%
0%
2%
4%
6%
8%
10%
12%
14%
0
500
1,000
1,500
2,000
2,500
Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15
Order Intake Sales Operating EBIT Margin
Order Intake, Sales, and Operating
EBIT Margin (LTM) [EURm] [EURm]
30%
9%
30%
6%
6%
19%
Dairy Farming
Dairy Processing
Food
Beverages
Pharma/Chemical
Other Industries
LTM as of
Q2 2015:
EUR 2,362m
+4% adj. YoY
+7% / +4% adj.
+9% / +4% adj.
+7% / +4% adj.
+8% / +4% adj.
+10% / +6% adj.
Δ YoY
0% / -3% adj.
37%
21%
23%
7%
7% 3% 3%
Western Europe
Asia-Pacific
North America
Eastern Europe&CIS
Latin America
Middle East
Africa
LTM as of
Q2 2015:
EUR 2,362m
+4% adj. YoY
-4% / -3% adj.
-1% / +4% adj. +16% / +4% adj. +6% / +2% adj. +6% / +5% adj.
Δ YoY +5% / +7% adj.
+23% / +23% adj.
1Adjusted = before currency translation and structural effects 2 Operating ROCE (LTM) = op. EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)
GEA on Roadshows and Conferences - Q2 2015 51
engineering for a better world
Sales by Customer
Industry
37%
15% 17%
18%
13%
Dairy Processing
Food
Beverages
Pharma/Chemical
Other Industries
36%
28%
14%
9%
5% 3% 4%
Western Europe
Asia-Pacific
North America
Eastern Europe&CIS
Latin America
Middle East
Africa
[in EUR million] Q2 2014 Q2 2015 ∆ YoY Q1-Q2 2014 Q1-Q2 2015 ∆ YoY
Order Intake
adjusted1 652.4 628.9 -3.6%
-10.9% 1,154.5 1,217.2
+5.4%
-0.7%
Sales
adjusted1 603.3 612.9 +1.6%
-5.8% 1,105.4 1,139.0
+3.0%
-4.3%
Order Backlog 1,551.9 1,652.9 +6.5% 1,551.9 1,652.9 +6.5%
Operating EBITDA 57.8 58.1 +0.5% 92.0 90.4 -1.8%
Operating EBITDA
Margin 9.6% 9.5% -11 bps 8.3% 7.9% -39 bps
Operating EBIT 53.1 53.3 +0.2% 82.9 80.7 -2.6%
Operating EBIT
Margin 8.8% 8.7% -12 bps 7.5% 7.1% -41 bps
Operating ROCE
(LTM)2 61.4% 59.9% -152 bps 61.4% 59.9% -152 bps
GEA Solutions
LTM as of
Q2 2015:
EUR 2,438m
-1% adj. YoY
LTM as of
Q2 2015:
EUR 2,438m
-1% adj. YoY
Sales by Region
+12% / +10% adj.
+3% / -2% adj.
-17% / -20% adj.
+3% / -1% adj.
+12% / +7% adj.
-33% / -35% adj.
-2% / +1% adj. +12% / +2% adj. +1% / -5% adj. +8% / +5% adj.
-8% / -13% adj.
+9% / +8% adj.
Order Intake Development by Size
265 253 257 290 268 288 279 348
278 296
126 189 133 170
130 138 146 155
137 166
126 95
124 56
82 103 61
66 91
112 94
162 127 121 22
123 160 54 83
55
0
100
200
300
400
500
600
700
800
Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
9.2% 9.3% 9.5% 9.7% 10.5% 10.3% 10.2%
0%
2%
4%
6%
8%
10%
12%
0
500
1,000
1,500
2,000
2,500
3,000
Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15
Order Intake Sales Operating EBIT Margin
Order Intake, Sales, and Operating
EBIT Margin (LTM) [EURm] [EURm]
Δ YoY Δ YoY
1Adjusted = before currency translation and structural effects 2 Operating ROCE (LTM) = op. EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)
GEA on Roadshows and Conferences - Q2 2015 52
engineering for a better world
Order Intake Q2 2015
[EURm]
Q2 2015 vs.
Q2 2014
Q1-Q2 2015 vs.
Q1-Q2 2014
Q2 2015 vs.
Q1 2015
∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in %
Order Intake
previous period 1,170 2,194 1,127
Structural Change +6 +0.5 % +8 +0.4 % +6 +0.6 %
Currency Translation +77 +6.6 % +131 +6.0 % +12 +1.0 %
At Constant Currencies -104 -8.9 % -57 -2.6 % +3 +0.3 %
Order Intake
current period 1,149 -1.8% 2,276 +3.7% 1,149 +1.9 %
GEA on Roadshows and Conferences - Q2 2015 53
engineering for a better world
Sales Q2 2015
[EURm]
Q2 2015 vs.
Q2 2014
Q1-Q2 2015 vs.
Q1-Q2 2014
Q2 2015 vs.
Q1 2015
∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in %
Sales
previous period 1,118 2,068 1,006
Structural Change +6 +0.5 % +10 +0.5 % +6 +0.6 %
Currency Translation +73 +6.5 % +134 +6.5 % +10 +1.0 %
At Constant Currencies -46 -4.1 % -56 -2.7 % +128 +12.7 %
Sales
current period 1,150 +2.9 % 2,157 +4.3 % 1,150 +14.3 %
GEA on Roadshows and Conferences - Q2 2015 54
engineering for a better world
Operating EBITDA Q2 2015
[EURm]
Q2 2015 vs.
Q2 2014
Q1-Q2 2015 vs.
Q1-Q2 2014
Q2 2015 vs.
Q1 2015
∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in %
Operating EBITDA
previous period 128 213 98
Structural Change 0 -0.2 % 0 -0.1 % 0 -0.3 %
Currency Translation +7 +5.7 % +12 +5.7 % +1 +1.0 %
At Constant Currencies +4 +3.3 % +12 +5.8 % +40 +41.2 %
Operating EBITDA
current period 139 +8.8 % 237 +11.4 % 139 +41.9 %
GEA on Roadshows and Conferences - Q2 2015 55
engineering for a better world
139
128
One-Offs Q2 2015
Reported
EBITDA
6
Q2 2015
Operating
EBITDA
Structural
Change
Currency
Translation
Q2 2015
Operating
EBITDA
before FX
132
At Constant
Currencies
Q2 2014
Operating
EBITDA
+4 +7 -133
+3.3% +5.7% -95.4%
GEA’s reported EBITDA impacted by FX and One-Offs
EBITDA bridge Q2 2015 [EURm]
0
-0.2%
GEA on Roadshows and Conferences - Q2 2015 56
engineering for a better world
FX Development Q2 2015 YoY
GEA on Roadshows and Conferences - Q2 2015 57
Currency % total Q2 2015
sales
EUR 45 %
USD 18 %
CNY 7 %
GBP 5 %
NZD 4 %
DKK 3 %
SGD 3 %
PLN 2 %
BRL 2 %
AUD 1 %
CAD 1 %
FX Rates
Q2 2015
(average)
D FX YoY
Q2 2015 vs Q2
2014
- -
1.11 -19.4 %
6.86 -19.8 %
0.72 -11.5 %
1.51 -5.0 %
7.46 0.0 %
1.48 -13.6 %
4.09 -2.0 %
3.39 +11.0 %
1.42 -3.4 %
1.36 -9.2 %
FX Rates
H1 2015
(average)
D FX YoY
H1 2015 vs H1
2014
- -
1.12 -18.6 %
6.94 -17.8 %
0.73 -10.8 %
1.51 -6.7 %
7.46 -0.1 %
1.51 -12.8 %
4.14 -0.8 %
3.31 +5.1 %
1.43 -4.8 %
1.38 -8.3 %
engineering for a better world
Working Capital Development
[EURm]
623
562
637
943
946
994
517
640
561
459
444
487
590
424
583
Trade
Receivables Inventories
Trade
Payables
Advance
Payments
Working
Capital
Q4 2014
Q2 2015
+48
+5%
+75
+13%
-78
-12%
+43
+10%
+159
+37%
Q2 2014
+3
+0%
-62
-10%
+122
+24%
-15
-3%
-166
-28%
=
=
=
GEA on Roadshows and Conferences - Q2 2015 58
engineering for a better world
Key Figures Time Line (1/4)
Order Intake
[in EUR million]Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15
BA Equipment 533.3 570.6 573.2 553.1 2,230.2 574.9 569.7 564.7 585.8 2,295.1 586.5 573.0
BA Solutions 610.2 698.2 640.8 636.3 2,585.5 502.1 652.4 646.5 622.3 2,423.4 588.3 628.9
Consolidation / Others -48.5 -48.8 -45.6 -45.0 -187.8 -52.7 -52.2 -43.3 -50.6 -198.9 -47.4 -53.1
GEA Group 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 1,127.5 1,148.8
Order Backlog
[in EUR million]Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15
BA Equipment 597.8 616.3 618.1 554.5 554.5 627.6 624.1 596.7 532.6 532.6 608.3 581.4
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 1,684.4 1,652.9
Consolidation / Others -29.2 -33.8 -35.0 -31.1 -31.1 -37.6 -38.8 -34.9 -35.2 -35.2 -36.7 -38.8
GEA Group 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 2,256.0 2,195.5
Sales
[in EUR million]Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15
BA Equipment 465.4 533.2 554.4 610.9 2,164.0 495.4 565.4 598.3 648.5 2,307.6 527.0 587.9
BA Solutions 503.7 575.2 579.3 680.1 2,338.3 502.2 603.3 594.9 704.0 2,404.3 526.0 612.9
Consolidation / Others -45.0 -43.8 -44.6 -48.9 -182.2 -46.9 -51.0 -47.3 -51.0 -196.2 -46.6 -50.7
GEA Group 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 1,006.4 1,150.1
Adjusted1) Sales Growth YoY
[in %]Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15
BA Equipment n.a. n.a. n.a. n.a. n.a. 9.7% 9.0% 8.5% 5.3% 8.0% 0.8% -2.5%
BA Solutions n.a. n.a. n.a. n.a. n.a. 2.4% 7.6% 2.0% 2.2% 3.5% -2.5% -5.8%
Consolidation / Others 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 Group 5.0% 8.0% 6.2% 6.5% 6.5% 6.0% 7.9% 5.2% 3.6% 5.6% -0.9% -4.1%
Book-to-Bill Ratio LTM
(rolling last 12 months)Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15
BA Equipment n.a. n.a. n.a. 1.03 1.03 1.04 1.02 1.00 0.99 0.99 0.99 0.98
BA Solutions n.a. n.a. n.a. 1.11 1.11 1.06 1.03 1.02 1.01 1.01 1.03 1.02
Consolidation / Others 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 Group 1.05 1.07 1.08 1.07 1.07 1.05 1.02 1.01 1.00 1.00 1.01 1.00
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Key Figures Time Line (2/4)
Operating EBITDA
[in EUR million] Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15
BA Equipment 48.3 65.9 84.0 113.1 311.2 56.2 71.7 90.0 131.2 349.2 67.4 84.5
BA Solutions 32.1 52.2 53.5 96.9 234.7 34.2 57.8 60.3 117.5 269.8 32.3 58.1
Consolidation / Others -7.9 0.3 -3.9 -4.2 -15.8 -5.3 -1.5 -1.3 -20.3 -28.4 -1.5 -3.3
GEA Group 72.4 118.4 133.5 205.7 530.1 85.1 128.0 149.0 228.5 590.7 98.2 139.3
Operating EBITDA - Margin
[in %] Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15
BA Equipment 10.4% 12.4% 15.1% 18.5% 14.4% 11.4% 12.7% 15.0% 20.2% 15.1% 12.8% 14.4%
BA Solutions 6.4% 9.1% 9.2% 14.2% 10.0% 6.8% 9.6% 10.1% 16.7% 11.2% 6.1% 9.5%
GEA Group 7.8% 11.1% 12.3% 16.6% 12.3% 9.0% 11.5% 13.0% 17.6% 13.1% 9.8% 12.1%
EBITDA reported
[in EUR million] Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15
BA Equipment 48.0 65.9 84.0 113.1 311.0 56.2 71.7 85.2 125.6 338.8 64.5 27.6
BA Solutions 32.1 52.2 53.5 96.9 234.7 34.2 57.8 58.6 117.8 268.5 31.7 31.1
Consolidation / Others -9.0 -4.3 -7.5 -9.6 -30.5 -7.4 -6.5 -3.9 -49.6 -67.4 -3.1 -52.3
GEA Group 71.1 113.8 130.0 200.3 515.2 83.0 123.1 140.0 193.9 539.9 93.0 6.4
Operating EBIT
[in EUR million] Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15
BA Equipment 38.1 55.2 72.6 100.2 266.0 44.0 59.3 77.4 115.6 296.4 54.3 71.5
BA Solutions 27.4 47.6 48.7 92.5 216.1 29.8 53.1 55.7 113.2 251.8 27.5 53.3
Consolidation / Others -10.0 -1.8 -5.7 -5.8 -23.3 -7.0 -3.1 -2.9 -21.7 -34.7 -3.0 -5.0
GEA Group 55.4 101.0 115.6 186.8 458.8 66.8 109.3 130.2 207.2 513.5 78.8 119.8
Operating EBIT - Margin
[in %] Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15
BA Equipment 8.2% 10.4% 13.1% 16.4% 12.3% 8.9% 10.5% 12.9% 17.8% 12.8% 10.3% 12.2%
BA Solutions 5.4% 8.3% 8.4% 13.6% 9.2% 5.9% 8.8% 9.4% 16.1% 10.5% 5.2% 8.7%
GEA Group 6.0% 9.5% 10.6% 15.0% 10.6% 7.0% 9.8% 11.4% 15.9% 11.4% 7.8% 10.4%
EBIT reported
[in EUR million] Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15
BA Equipment 32.7 50.2 67.5 95.1 245.5 38.9 54.5 67.8 105.2 266.4 46.5 8.1
BA Solutions 26.5 46.7 47.8 91.2 212.2 28.9 52.3 53.1 112.8 247.0 25.7 24.9
Consolidation / Others -11.1 -6.5 -9.3 -11.2 -38.1 -9.1 -8.1 -5.5 -50.9 -73.6 -4.7 -54.0
GEA Group 48.1 90.4 106.0 175.1 419.6 58.7 98.7 115.4 167.0 439.9 67.5 -20.9
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Key Figures Time Line (3/4)
Capital Employed w/o
goodwill2) (average LTM)
[in EUR million]
Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15
BA Equipment n.a. n.a. n.a. 1,454.9 1,454.9 1,466.1 1,480.1 1,494.7 1,506.2 1,506.2 1,519.8 1,526.8
BA Solutions n.a. n.a. n.a. 371.3 371.3 365.4 365.027 370.2 375.5 375.5 391.0 417.1
Consolidation / Others n.a. n.a. n.a. 68.8 68.8 68.8 66.9 64.1 61.8 61.8 63.2 62.8
GEA Group 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 1,974.0 2,006.7
ROCE w/o goodwill3) LTM
[in%]Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15
BA Equipment n.a. n.a. n.a. 16.9% 16.9% 17.2% 17.3% 17.2% 17.7% 17.7% 18.0% 14.9%
BA Solutions n.a. n.a. n.a. 57.1% 57.1% 58.7% 60.3% 60.9% 65.8% 65.8% 62.4% 51.9%
GEA Group 18.8% 19.3% 19.6% 22.1% 22.1% 22.6% 22.9% 23.2% 22.6% 22.6% 22.7% 16.4%
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Key Figures Time Line (4/4): Remarks
1) Adjusted Sales Growth = before currency translation and structural change
2) Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999.
3) 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).
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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
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Investor Relations Contact
Donat von Müller
+49 211 9136 1080
donat.vonmueller
@gea.com
Dr. Helmut Schmale
CFO
+49 211 9136 1082
Rebecca Weigl
+49 211 9136 1081
rebecca.weigl
@gea.com
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