Gea%20on%20roadshow%20and%20conferences%20q1 2015 tcm11 26011

GEA Group Aktiengesellschaft

Düsseldorf, May 11th, 2015

Q1 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 – Q1 2015


Table of Contents

GEA Equity Story Pages 4 - 26

Q1 2015 Results Presentation Pages 28 - 45

Back-ups Pages 50 - 62

Historical Key Figures GEA Group & Segments Pages 62 - 67

ADR Information Page 68



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 (Dec 14)

Market Cap

>EUR 8bn (May 15)

Dairy Farming Dairy Processing Beverages Food



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.



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



What we like about the food industry (2): Stable consumer spending also in tough times

Economically

good times

Economically

difficult times



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?



…

…

…

…

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



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 – Q1 2015 10


~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



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%



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



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



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



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



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:



Project “Fit for 2020”: From four stand-alone Segments to two integrated Business Areas

Current Organization Future Blueprint

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



A pplications R egions T echnologies Functional E xcellence

Future 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



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%



294

192

248

403 426

459

514 526

479

8.8%

6.8%

8.4%

10.5% 10.3% 10.6% 11.4% 11.5%

~13%

2008 2009 2010 2011 2012 2013 2014 Q1 15 LTM 1 Target 2017-2020

Operating EBIT Operating EBIT-Margin (LTM)

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

[EURm]

16%

13% 125

Savings

“Fit for 2020“

Target

Range

Target

2017 - 2020



Strong focus on ROCE and cash generation

[EURm]

1,772 1,830 1,873 1,887 1,890 1,891 1,886 1,895 1,900 1,912 1,929 1,943 1.974

17.5% 18.6% 18.6%

16.7%

18.8% 19.3% 19.6%

22.1% 22.6% 22.9% 23.2%

22.6% 22.7%

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

Capital Employed (average LTM) ROCE (average 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)

ROCE ~23%

-138 -147 -132 -88

-26 10 33 19 -1 -19 -38 -41 -47

410 436 441 420 462 471 478 515 527 536 546 540 550

-129 -116 -120 -125

-126 -126 -124 -120 -122 -123 -114 -94 -92

3.6% 4.3% 4.6% 5.0%

7.4% 8.3%

9.0% 9.6% 9.3% 9.0% 8.8% 9.0% 9.0%

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

Delta Working Capital (Average LTM) EBITDA (LTM)Capex (LTM) Cash Flow Driver Margin (LTM)

[EURm]

Unadjusted Cash Flow Driver Margin



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



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



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


590 – 640 (new target 2015)



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

Future organizational set-up “Fit for 2020”

GEA is the largest stock listed company to invest in the growing food processing equipment market



Executive Summary Q1 2015

Order

Intake (EURm)

1,127

Sales

(EURm)

1,006

Operating

EBITDA (EURm)

98.2

Operating

EBIT (EURm)

78.8

ROCE1

22.7%

Unadjusted

CFD Margin

9.0%

D organic:

+5% YoY

D organic:

-1% YoY D +15% YoY D +18% YoY D +8 bps YoY

D -32 bps

YoY

D reported:

+10% YoY

D reported:

+6% YoY

Record margin

for Q1 of 9.8%

Record margin

for Q1 of 7.8%

Key Highlights Q1 2015:

1 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)



Sales

951 1,006

Q1 2014 Q1 2015

[EURm] [EURm]


7.0% 7.8%

Q1 2014 Q1 2015

Operating EBIT

1,024 1,127

Q1 2014 Q1 2015

67 79

Q1 2014 Q1 2015

Order Intake

Key Figures Q1 2015 and change YoY

[EURm]

organic: +5% organic: -1%

D +10% D +6%

D +18% D +80 bps



9.1%

10.7%

11.9% 11.9%

12.5%

13.2%

7.0%

8.7%

10.1% 10.3%

10.8%

11.5%

6%

7%

8%

9%

10%

11%

12%

13%

2000

3000

4000

5000

6000

Q1 10 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 Q3 14 Q4 14 Q1 15

Order Intake Sales Operating EBITDA Margin Operating EBIT Margin

Development LTM: Order Intake, Sales, Operating Margins [EURm]

6,000

5,000

4,000

3,000

2,000

Operating EBIT Margin at record 11.5% per Q1 2015 LTM



Operating EBIT

10 14

27 23

35 39

3 6

Q1 2014 Q1 2015

193 197

367 454

339 330

162 175

Q1 2014 Q1 2015


Sales Order Intake

Segments Q1 2015

1,127 1,024

GEA RT

GEA PE

GEA ME

GEA FT

GEA RT

GEA PE

GEA ME

GEA FT

[EURm]

organic: +5%

D +10%

D -3%

D +24%

D +2%

D +8%

155 185

391 391

310 317 127 141

Q1 2014 Q1 2015

951 1,006

D +2%

D +0%

D +19%

D +11%

organic: -1%

D +6%

GEA RT

GEA PE

GEA ME

GEA FT

67 79

D -15%

D +14%

D +43%

D +18%

Q1 2014 Q1 2015 D YoY

GEA FT 2.4% 4.3% +191 bps

GEA ME 11.1% 12.4% +129 bps

GEA PE 6.8% 5.8% -106 bps

GEA RT 6.4% 7.7% +126 bps

GEA Group 7.0% 7.8% +80 bps

[EURm] [EURm]

D +99%



Order Intake Development by size since Q1 2011

Order intake +10% YoY (+5% organic) in Q1 2015

[EURm]

596 619 705 686 669

737 711 702 745 710 722 724 747 754 773 765 835 791

173 168

185 166 208

214 172

221 175 144

234 167

211 160 170 174

182 163

64 135

135 128 111

96 102

124 107 131

102 132

67 88

103 68

87 91

41

60 58

100

44 65 112

110

162 144 121 22

123 160 54

83

0

200

400

600

800

1.000

1.200

1.400

Q1 11 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

OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m

1,400

1,200

1,000

f L4Q:

791 f L4Q:

736 f L4Q:

717



Sales and organic sales growth per Q1 2015 LTM: Strong Western Europe driven by dairy business

North America

D YoY org.: +3%

17%

Eastern Europe

& CIS

8%

D YoY org.: +5%

Western Europe

37%

D YoY org.: +10%

Latin America

D YoY org.: 0%

6%

Africa

D YoY org.: +4%

3%

Middle East

D YoY org.: -21%

3%

Asia-Pacific

D YoY org.: +2%

25%

Emerging Markets1

36%

D YoY org.: -2%

Top-3-Countries

USA: 16% (16%)

D YoY org.: +2%

Germany: 9% (9%)

D YoY org.: +16%

China: 9% (10%)

D YoY org.: -3%

1 According to the definition of emerging/developing economies by International Monetary Fund.



Sales and organic sales growth by Customer Industry LTM: Strong growth from dairy sector

Average last four quarters: Q1 – Q4 2009 = Index 100

Note: Organic growth rates per customer industry are only available since Q1 2011

14% (13%)

24% (22%)

22% (22%)

11% (14%)

12% (13%)

16% (15%)

Sales LTM

per Q1 2015:

EUR 4,571m

+4% org. YoY

Dairy Farming

D +11% org. YoY

Food

D +4% org. YoY

Beverages

D -19% org. YoY

Other Industries

D +10% org. YoY

Pharma/

Chemical

D 0% org. YoY Dairy

Processing

D +13% org. YoY

60%

100%

140%

180%

220%

Dairy Farming Dairy Processing GEA Group

60%

100%

140%

180%

220%

Food Beverages GEA Group

Organic CAGR 10-14: +15%




Organic CAGR 10-14: +7% Organic CAGR 10-14: +5%

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

Pharma/Chemical Other Industries GEA Group

GEA Group Organic CAGR 09-14: +6%



Book to bill ratio (L4Q)

Q1 2015

Dairy Farming 1,00 5,2% 0,93 1,0% 1,01 5,1% 0,98 1,0% 1,00 0,0% 0,89 0,0% 1,14 1,8% 1,02 14,2%

Dairy Processing 0,89 8,7% 1,56 2,4% 0,94 2,8% 1,01 1,5% 1,40 0,9% 0,75 0,6% 1,04 7,1% 1,00 24,0%

Food 1,05 9,5% 0,96 2,2% 0,92 3,2% 0,99 1,2% 0,91 1,5% 0,86 0,8% 0,89 3,2% 0,97 21,6%

Beverages 0,96 3,3% 0,73 1,0% 0,86 1,2% 1,28 1,0% 2,51 2,0% 0,66 0,2% 1,55 4,8% 1,21 13,4%

Food & Beverages 0,97 26,8% 1,05 6,6% 0,96 12,2% 1,04 4,8% 1,43 4,3% 0,79 1,6% 1,12 16,9% 1,03 73,2%

Pharma 1,13 2,7% 0,87 0,3% 0,86 1,0% 0,86 0,5% 0,48 0,0% 0,54 0,2% 0,84 1,9% 0,93 6,5%

Chemical 1,05 1,3% 0,75 0,1% 0,92 1,1% 0,65 0,1% 3,69 0,3% 0,57 0,1% 1,06 2,0% 1,02 5,1%

Pharma/Chemical 1,10 4,0% 0,83 0,4% 0,89 2,1% 0,80 0,6% 2,36 0,3% 0,55 0,3% 0,94 3,9% 0,97 11,6%

Environment 1,01 1,5% 0,88 0,3% 1,02 0,7% 1,46 0,3% 1,47 0,1% 1,09 0,1% 0,96 1,2% 1,02 4,1%

Oil & Gas 0,77 0,6% 1,56 0,9% 1,28 1,0% 0,90 0,1% 3,57 0,1% 0,68 0,1% 0,38 0,6% 0,88 3,4%

Marine 1,09 1,5% 1,82 0,1% 1,24 0,2% 0,60 0,1% 0,92 0,0% 1,89 0,1% 0,96 1,4% 1,04 3,3%

Power 0,57 0,2% -9,81 -0,2% 0,54 0,1% 0,86 0,1% 0,90 0,1% 2,11 0,4% 0,97 0,1% 0,71 0,7%

Others 1,05 1,3% 1,23 0,5% 1,02 0,3% 1,00 0,2% 2,58 0,0% 1,00 0,1% 1,14 1,3% 1,10 3,7%

Other Industries 0,98 5,1% 1,11 1,5% 1,09 2,2% 1,06 0,7% 1,52 0,4% 1,31 0,8% 0,84 4,5% 0,98 15,3%

Total 0,99 35,9% 1,05 8,5% 0,96 16,5% 1,02 6,1% 1,47 5,0% 0,86 2,7% 1,03 25,2% 1,01 100,0%

Western

EuropeEastern Europe & CIS North America Latin America Africa Middle - East Asia - Pacific Total

<= 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 Food & Beverages driven by Beverages and Dairy Farming

1

1 due to a reclassification of an order from Power to Oil & Gas



1,450 1,550 1,600 1,640

391 433

487 616

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

Order Backlog: Further increasing

[EURm]

1.05 1.07 1.05 1.07 1.02 1.01 1.06 1.06 1.08 1.07 1.05 1.00 1.01

2,015 1,841 1,901 1,932

2,085 2,136 1,983

1,830

2,087 2,137 2,185 2,038

LTM BtB ratio #

2,256

Order Backlog invoicable in respective FY Order Backlog invoicable after respective FY



ROCE Development: Sequential improvement following higher profitability in Q1 2015

[EURm]

1,772 1,830 1,873 1,887 1,890 1,891 1,886 1,895 1,900 1,912 1,929 1,943 1,974

17.5% 18.6% 18.6%

16.7%

18.8% 19.3% 19.6%

22.1% 22.6% 22.9% 23.2% 22.6% 22.7%

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

Capital Employed (average LTM) ROCE (average 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)

ROCE trailing at around 23% - clearly in target range of 20% to 25%



Working Capital ratio trailing at around 12%

[EURm]

404 449 460

395

523 521 511

356

515 521 538

363

535

590 548

424

588

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% 12.1% 12.1% 12.2%

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 Q3 14 Q4 14 Q1 15

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



Unadjusted Cash Flow Driver Margin at around 9% of sales

-138 -147 -132 -88 -26 10 33 19 -1 -19 -38 -41 -47

410 436 441 420 462 471 478 515 527 536 546 540 550

-129 -116 -120 -125

-126 -126 -124 -120 -122 -123 -114 -94 -92

3.6% 4.3% 4.6% 5.0%

7.4% 8.3% 9.0% 9.6% 9.3% 9.0% 8.8% 9.0% 9.0%

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

Delta Working Capital (Average LTM) EBITDA (LTM) Capex (LTM) Cash Flow Driver Margin (LTM)

EBITDA Capex D Working Capital (Average LTM)

Sales Sales Sales - - +

[EURm]


Note: the guidance for 2015 expects an adjusted CFD margin of 9.0% to 9.5%


Net Liquidity reconciliation

[EURm]

-36.9

Discontinued Operations (w/o HX) -29.8

Net Cash bef. DOP, M&A and Dividend -25.2

Others (therein EUR 117.5m translation impact) 187.1

Taxes / Interests -125.2

Capex -91.9

Delta Working Capital -30.4

Net Cash 31.03.2015

550.0

Net Debt 31.03.2014 w/o HX -514.8

Elimination Net Cash Position HX -82.4

Net Debt 31.03.2014 incl. HX

EBITDA

822.7

Proceeds from HX-Sale Net of Transaction Costs 1,030.1

Dividend -115.5

Effects from Acquisitions

-432.4

Cash generation LTM: ~ EUR 370m

D +EUR 372m excl.

EUR 117.5m

translation impact

1therein cash with maturity 6-12 months (EUR 200m)

1



Service Business per Q1 LTM: 28% of Sales

Organic growth YoY of +7.8% (+9.1% reported)

[EURm]

1,160

240

470

249 201

1,266

280

505

284 222

GEA Group GEA FT GEA ME GEA PE GEA RT

D +8%

(+9% reported)

D +16%

(+16% reported)

D +6%

(+7% reported)

D +12%

(+14% reported)

D +10%

(+11% reported)

41% 27% 28% 42% 35% 36% 14% 15% 27% 28%

Q1 2014 LTM Q1 2015 LTM Share of Service Sales %



Fit for 2020: Front-loaded implementation schedule

>10

>80

>125

2015 2016 2017

Build-up of minimum cumulative savings One-off charges (Σ 2015/16):

2015 to 2016

• Severance packages

• Training / relocation

• SSC build-up

• Office consolidation

• IT system changes

• External project support

• Other implementation cost

P&L perspective:

2015: major part of charges

2016: biggest leap in savings; at least break-even with charges

[EURm] ~ 1.5x long term annual savings



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


580 – 620 (before “Fit for 2020”)

Cash Flow Driver Margin

9.0% - 9.5%

Savings “Fit for 2020” (EURm)

10 - 20


590 – 640 (new target 2015)



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

23%



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%



May 12, 2015 Roadshow Germany Frankfurt Metzler

May 20, 2015 Conference UK London UBS

May 19, 2015 Roadshow Spain Madrid KeplerCheuvreux

May 21, 2015 Conference Sweden Stockholm Exane BNP

May 27, 2015 Roadshow Belgium Brussels DZ Bank

Investor Relations Calendar Upcoming Roadshows and Conferences

May 22, 2015 Roadshow Germany Hamburg MM Warburg

2 0 1 5

May 28, 2015 Conference Netherlands Amsterdam JP Morgan



June 16, 2015 Roadshow Germany Munich Baader Bank

June 11, 2015 Conference UK Ascot JP Morgan

June 15, 2015 Roadshow Denmark Copenhagen Danske

June 17-19, 2015 Conference Germany Berlin Deutsche Bank

Investor Relations Calendar Upcoming Roadshows and Conferences

June 25, 2015 Conference France Paris Oddo

2 0 1 5

June 03, 2015 Roadshow Switzerland Geneva Berenberg

June 02, 2015 Conference Switzerland Zurich DZ Bank



Financial Calendar

2 0 1 5

Jul 29, 2015 Interim Report Q2 2015 Düsseldorf

Oct 28, 2015 Interim Report Q3 2015 Düsseldorf



Order Intake Development by Size

596 619 705 686 669 737 711 702 745 710 722 724 747 754 773 765 835 791

173 168 185 166 208

214 172 221 175 144 234 167 211 160 170 174 182 163

64 135 135 128 111

96 102 124 107 131

102 132 67 88 103 68 87

91 41

60 58 100

44 65 112 110

162 144 121 22 123 160 54 83

0

200

400

600

800

1000

1200

1400

Q111

Q211

Q2112

Q311

Q411

Q112

Q212

Q312

Q412

Q113

Q213

Q313

Q413

Q114

Q214

Q314

Q414

Q115


8.7%

10.1% 10.3% 10.8%

11.5%

0%

2%

4%

6%

8%

10%

12%

0

1000

2000

3000

4000

5000

Q111

Q211

Q311

Q411

Q112

Q212

Q312

Q412

Q113

Q213

Q313

Q413

Q114

Q214

Q314

Q414

Q115

Order Intake Sales Operating EBIT Margin

Sales by Customer

Industry

37%

25%

17%

8%

6% 3% 3%

Western Europe

Asia-Pacific

North America

Eastern Europe&CIS

Latin America

Middle East

Africa

14%

24%

22%

11%

12%

16%

Dairy Farming

Dairy Processing

Food

Beverages

Pharma/Chemical

Other Industries

[in EUR million] Q1 2014 Q1 2015 ∆ Q1-Q4

2013

Q1-Q4

2014 ∆

Order Intake

organic 1,124.3 1,127.5

+10.1%

+4.7% 4,627.9 4,519.6

-2.3%

-1.4%

Sales

organic 950.7 1,006.4

+5.9%

-0.9% 4,320.0 4,515.7

+4.5%

+5.6%

Order Backlog 2,086.7 2,256.0 +8.1% 2,015.5 2,037.6 +1.1%

Operating EBITDA 85.1 98.2 +15.3% 530.1 590.7 +11.4%

Operating EBITDA-

Margin 9.0% 9.8% +80 bps 12.3% 13.1% +81 bps

Operating EBIT 66.8 78.8 +17.9% 458.8 513.5 +11.9%

Operating EBIT-Margin 7.0% 7.8% +80 bps 10.6% 11.4% +75 bps

ROCE (LTM)1 22.6% 22.7% +8 bps 22.1% 22.6% +49 bps

Order Intake, Sales and Operating EBIT

Margin (LTM)

GEA Group

[EURm] [EURm]

LTM per

Q1 2015:

EUR 4,571m

+4% org YoY

LTM per

Q1 2015:

EUR 4,571m

+4% org YoY

+10% / +10% org.

-18% / -19% org.

+5% / +4% org.

+15% / +13% org.

+11% / +11% org.

Δ YoY

-22% / -21% org.

+1% / +5% org. +8% / +3% org. +4% / +2% org. +11% / +10% org.

Δ YoY -2% / 0% org.

+2% / +4% org.

+1% / 0% org.

Sales by Region


3,000

4,000

5,000

2,000

1,000

1,000

1,200

1,400

w/o FS Incl.FS



Sales by Customer

Industry

37%

11%

36%

8% 7%

Western Europe

Asia-Pacific

North America

Eastern Europe&CIS

Latin America

100%

Dairy Farming


2013

Q1-Q4

2014 ∆

Order Intake

organic 161.6 175.3

+8.5%

+1.6% 596.7 659.0

+10.4%

+13.3%

Sales

organic 126.6 140.9

+11.3%

+3.3% 577.7 650.0

+12.5%

+15.5%

Order Backlog 114.3 125.1 +9.4% 85.6 87.0 +1.6%


Operating EBITDA-

Margin 4.8% 6.6% +178 bps 9.9% 11.5% +161 bps

Operating EBIT 3.1 6.1 +99.2% 44.6 62.0 +39.2%


ROCE (LTM)1 13.8% 17.6% +387 bps 12.7% 17.1% +448 bps

GEA Farm Technologies

LTM per

Q1 2015:

EUR 664m

+11% org YoY

LTM per

Q1 2015:

EUR 664m

+11% org YoY

+11% / +11% org.

-12% / -2% org.

+22% / +18% org.

+16% / +13% org.

+6% / +5% org.

+19% / +35% org.

Sales by Region


126 130 140 129 147 144 146 143 139 151 149 151 161 165 165 160 170

3 1 1 1 5

2 1 1

5 1 1 6

0

30

60

90

120

150

180

210

Q111

Q211

Q311

Q411

Q112

Q212

Q312

Q412

Q113

Q213

Q313

Q413

Q114

Q214

Q314

Q414

Q115


5.9% 6.4%

7.8% 8.0%

9.8%

0%

2%

4%

6%

8%

10%

0

200

400

600

800

Q111

Q211

Q311

Q411

Q112

Q212

Q312

Q412

Q113

Q213

Q313

Q413

Q114

Q214

Q314

Q414

Q115



Margin (LTM) [EURm] [EURm]


Δ YoY Δ YoY



Contrasting MFP ratio development and organic growth of GEA FT order intake over time

Source World Milk-Feed Price Ratio: IFCN

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

0,0

0,5

1,0

1,5

2,0

2,5

3,0

Jan06

Jan07

Jan08

Jan09

Jan10

Jan11

Jan12

Jan13

Jan14

Jan15

World Milk-Feed

Price Ratio

2006 2007 2011 2012 2013 2014 2010 2009 2008

Milk to feed price ratios below 1.5 have not prevented GEA FT orders from rising in the past

• Milk-feed price ratio (MFPR) >1.5

considered as signal to invest for

farmers (threshold could drop with

advancing machine productivity)

• MFPR <1.5 can still be ok, if farmers

expect the MFPR to improve in the short

run

• Among GEA’s FT offering, hygiene

consumables and spare parts (together

42% of sales) are not directly affected by

the MFP ratio

Organic Order

Growth GEA FT

2015



35%

26%

18%

7%

7% 4%

3%

Western Europe

Asia-Pacific

North America

Eastern Europe&CIS

Latin America

Middle East

Africa

Sales by Customer

Industry 14%

43% 9%

9%

25%

Dairy Processing

Food

Beverages

Pharma/Chemical

Other Industries


2013

Q1-Q4

2014 ∆

Order Intake

organic 339.1 330.3

-2.6%

-8.0% 1,368.2 1,349.8

-1.3%

-0.7%

Sales

organic 310.0 317.5

+2.4%

-2.5% 1,327.8 1,380.4

+4.0%

+4.7%

Order Backlog 456.3 418.9 -8.2% 428.4 394.9 -7.8%


Operating EBITDA-

Margin 13.6% 15.0% +142 bps 16.2% 16.8% +60 bps

Operating EBIT 34.5 39.5 +14.3% 187.6 197.7 +5.4%


ROCE (LTM)1 17.4% 17.1% -23 bps 17.4% 17.0% -42 bps

GEA Mechanical Equipment

LTM per

Q1 2015:

EUR 1,388m

+3% org YoY

LTM per

Q1 2015:

EUR 1,388m

+3% org YoY

Sales by Region

+1% / 0% org.

+4% / +2% org.

+4% / +3% org.

-2% / -3% org.

+10% / +10% org. -14% / -12% org.

+31% / +31% org. -3% / -8% org. +9% / +8% org. +3% / +2% org.

-4% / -4% org.

+55% / +56% org.


278 280 274 336

280 271 289 289 300 301 283 311 302 297 309 309

46 30 49 42 44 26 19 38 31 40

21 27 24 23 21 9 19 7 12

8 5 8 8 11 6 7 21 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 Q3 14 Q4 14 Q1 15


14.0% 14.1% 14.6%

0%

2%

4%

6%

8%

10%

12%

14%

16%

0

200

400

600

800

1000

1200

1400

1600

Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15





1,200

1,400

1,600

1,000

Δ YoY Δ YoY



Sales by Customer

Industry

48%

4%

20%

20%

8%

Dairy Processing

Food

Beverages

Pharma/Chemical

Other Industries

35%

33%

11%

7%

7% 4% 4%

Western Europe

Asia-Pacific

North America

Eastern Europe&CIS

Latin America

Middle East

Africa

[in EUR million] Q1 2014 Q1 2015 ∆ Q1-Q4 2013 Q1-Q4 2014 ∆

Order Intake

organic 366.7 454.4

+23.9%

+18.5% 2,061.0 1,835.7

-10.9%

-10.6%

Sales

organic 390.7 391.4

+0.2%

-6.9% 1,798.0 1,852.1

+3.0%

+3.4%

Order Backlog 1,267.9 1,421.6 +12.1% 1,290.5 1,293.4 +0.2%

Operating EBITDA 30.2 26.5 -12.4% 203.2 220.6 +8.6%

Operating EBITDA

Margin 7.7% 6.8% -97 bps 11.3% 11.9% +61 bps

Operating EBIT 26.6 22.5 -15.4% 188.3 206.0 +9.4%

Operating EBIT

Margin 6.8% 5.8% -106 bps 10.5% 11.1% +65 bps

ROCE (LTM)1 74.8% 72.9% -195 bps 73.2% 78.8% +560 bps

GEA Process Engineering

LTM per

Q1 2015:

EUR 1,853m

+2% org YoY

LTM per

Q1 2015:

EUR 1,853m

+2% org YoY

Sales by Region

+16% / +16% org.

+1% / -1% org.

-24% / -25% org.

-2% / -3% org.

+21% / +18% org.

-9% / -9% org.

-11% / -11% org. -4% / -7% org. +2% / 0% org. +18% / +17% org.

-11% / -11% org.

-5% / -4% org.


169 178 167 159 186 175 170 197 174 170 166 194 184 185 182 241

189

133 122 116 121 144

107 132 100 104 155 98

130 91 96 109

118 101

59 127

90 111 82

75 101 94 126

82 124 50

69 96 55

66 82

41 60 58 100

44 65 79 78

162 127 121

22 123 160 37

83

0

100

200

300

400

500

600

Q111

Q211

Q311

Q411

Q112

Q212

Q312

Q412

Q113

Q213

Q313

Q413

Q114

Q214

Q314

Q414

Q115


7.4%

9.0% 9.9%

10.5% 10.9%

0%

2%

4%

6%

8%

10%

12%

0

400

800

1200

1600

2000

2400

Q111

Q211

Q311

Q411

Q112

Q212

Q312

Q412

Q113

Q213

Q313

Q413

Q114

Q214

Q314

Q414

Q115





1,600

2,000

2,400

1,200

Δ YoY Δ YoY



44%

14%

16%

13%

2% 4% 7%

Western Europe

Asia-Pacific

North America

Eastern Europe&CIS

Latin America

Middle East

Africa

Sales by Customer

Industry 5%

51%

4%

8%

32%

Dairy Processing

Food

Beverages

Pharma/Chemical

Other Industries


2013

Q1-Q4

2014 ∆

Order Intake

organic 192.9 197.3

+2.3%

-0.6% 726.3 804.7

+10.8%

+12.5%

Sales

organic 154.9 184.7

+19.2%

+12.3% 736.6 763.7

+3.7%

+5.4%

Order Backlog 272.2 311.5 +14.4% 229.5 281.4 +22.6%

Operating EBITDA 12.4 16.7 +35.2% 71.0 89.7 26.3%

Operating EBITDA-

Margin 8.0% 9.1% +107 bps 9.6% 11.7% +210 bps

Operating EBIT 10.0 14.2 +42.5% 61.5 79.8 +29.7%


ROCE (LTM)1 23.8% 30.0% +621 bps 22.7% 28.9% +617 bps

GEA Refrigeration Technologies

LTM per

Q1 2015:

EUR 793m

+7% org YoY

LTM per

Q1 2015:

EUR 793m

+7% org YoY

Sales by Region

+7% / +4% org.

+4% / +5% org.

+9% / +8% org.

-4% / -1% org.

+7% / +6% org. -44% / -44% org.

+9% / +19% org. +30% / +22% org. -5% / -8% org. +14% / +13% org.

+39% / +37% org.

-10% / -7% org.


128 145 126 135 140 139 146 142 140 134 139 146 134 155 149 156 152

19 17

20 35 29 22

44 50 22 35 35 40 46

42 40 40 36 6 19

8 20

10 6

12

6 13 7 6 9 16

17

0

50

100

150

200

250

Q111

Q211

Q311

Q411

Q112

Q212

Q312

Q412

Q113

Q213

Q313

Q413

Q114

Q214

Q314

Q414

Q115


6.0% 8.0% 7.9%

8.7%

10.6%

0%

2%

4%

6%

8%

10%

12%

0

200

400

600

800

1000

Q111

Q211

Q311

Q411

Q112

Q212

Q312

Q412

Q113

Q213

Q313

Q413

Q114

Q214

Q314

Q414

Q115





Δ YoY Δ YoY



Q1 2015 vs.

Q1 2014

Q1 2015 vs.

Q4 2014

∆ abs. ∆ in % ∆ abs. ∆ in %

Order Intake

previous period 1,024 1,157

Structural Change +2 +0.2 % 0 +0.0 %

Currency Effects +53 +5.2 % +33 +2.8 %

Organic Development +48 +4.7% -63 -5.5 %

Order Intake

current period 1,127 +10.1 % 1,127 -2.6 %

Order Intake Q1 2015

[EURm]



Q1 2015 vs.

Q1 2014

Q1 2015 vs.

Q4 2014

∆ abs. ∆ in % ∆ abs. ∆ in %

Sales

previous period 951 1,301

Structural Change +5 +0.5 % +4 +0.3 %


Organic Development -8 -0.9 % -336 -25.8 %

Sales

current period 1,006 +5.9 % 1,006 -22.7 %

Sales Q1 2015

[EURm]



Q1 2015 vs.

Q1 2014

Q1 2015 vs.

Q4 2014

∆ abs. ∆ in % ∆ abs. ∆ in %

Operating EBITDA

previous period 85 228

Structural Change 0 -0.4 % 0 -0.2 %


Organic Development +8 +9.9 % -133 -58.1 %

Operating EBITDA

current period 98 +15.3% 98 -57.0 %

Operating EBITDA Q1 2015

[EURm]



98

85

Q1 2015

Reported

EBITDA

One-Offs

93

Structural

Change

FX Q1 2015

Operating

EBITDA

before FX

93

Organic Q1 2014

Operating

EBITDA

Q1 2015

Operating

EBITDA

+8 +5 -5

+9.9%

+5.8% -5.1%

GEA’s reported EBITDA impacted by FX and One-Offs

EBITDA bridge Q1 2015 [EURm]

0

-0.4%



FX Development Q1 2015 YoY

Currency % total Q1 2015

3rd party sales

EUR 46 %

USD 18 %

CNY 6 %

GBP 5 %

NZD 3 %

DKK 3 %

SGD 3 %

PLN 2 %

BRL 2 %

AUD 1 %

CAD 1 %

FX Rates

Q1 2015

(average)

D FX YoY

Q1 2015 vs Q1

2014

- -

1.13 +21.6 %

7.02 +19.0 %

0.74 +11.4 %

1.50 +9.3 %

7.45 +0.2 %

1.53 +13.8 %

4.19 -0.2 %

3.22 +0.5 %

1.43 +6.7 %

1.40 +8.2 %



[EURm]

Working Capital Development

615

562

651

912

946

987

510

640

537

481

444

513

535

424

588

Trade

Receivables Inventories

Trade

Payables

Advance

Payments

Working

Capital

Q4 2014

Q1 2015

+42

+4%

+89

+16%

-102

-16%

+69

+16%

+164

+39%

Q1 2014

+34

+4%

-53

-9%

+129

+25%

-37

-8%

-111

-21%

=

=

=



Key Figures Time Line (1/6)

Order Intake

[in EUR million]2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011

GEA Food Solutions1) 397,7 75,6 101,2 81,6 95,5 353,9 115,5 94,5 100,7 98,9 409,6 125,5 - - - -

GEA Farm Technologies 497,1 94,9 101,2 94,9 98,6 389,6 101,1 116,1 115,0 116,3 448,5 125,9 129,5 140,3 131,7 527,4

GEA Mechanical Equipment2) 929,4 194,9 162,2 158,6 169,4 685,1 172,0 194,7 191,9 181,8 740,4 219,2 332,5 329,5 323,6 1.204,7

GEA Process Engineering 1.333,6 251,0 308,7 254,0 334,6 1.148,3 335,7 339,0 321,7 419,7 1.416,1 401,5 426,2 433,3 449,0 1.709,9

GEA Refrigeration Technologies 613,9 138,9 143,2 114,3 130,3 526,6 127,5 150,6 148,9 152,5 579,6 152,7 162,8 164,8 170,1 650,4

GEA Group 3.293,0 664,4 703,0 605,0 715,6 2.688,1 713,4 777,3 755,3 854,4 3.100,3 874,3 1.024,8 1.040,6 1.047,0 3.986,7

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. 104,4 - - - -


GEA Mechanical Equipment2) 338,0 325,6 303,5 285,2 280,8 280,8 298,3 319,1 306,1 284,1 284,1 304,1 431,2 445,9 395,2 395,2

GEA Process Engineering 666,2 651,5 658,2 627,9 660,2 660,2 757,6 821,2 788,9 813,0 813,0 888,2 927,4 972,2 951,2 951,2


GEA Group 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 1.581,2 1.643,7 1.700,9 1.599,2 1.599,2

Sales


GEA Food Solutions1) 394,2 89,0 79,8 82,8 82,5 334,1 101,0 99,8 93,1 103,7 397,6 112,9 - - - -


GEA Mechanical Equipment2) 809,7 200,0 179,9 163,8 174,0 717,5 156,7 173,7 193,1 201,9 725,4 191,6 311,1 317,0 371,0 1.190,7

GEA Process Engineering 1.487,4 270,7 281,9 278,1 313,2 1.144,0 256,9 298,5 330,9 402,2 1.288,5 300,8 385,1 394,7 496,6 1.577,2


GEA Group 3.352,7 674,5 688,4 695,0 756,1 2.814,0 603,2 700,7 769,7 889,5 2.963,1 706,7 964,6 980,5 1.176,4 3.828,3

Organic Sales Growth YoY

[in %]2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011

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. - - - - -

GEA Farm Technologies n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 9,4% 12,6% 14,1% 15,2% 13,2%

GEA Mechanical Equipment2) n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 20,4% 22,1% 26,3% 9,8% 19,4%

GEA Process Engineering n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 14,7% 31,8% 21,5% 20,6% 22,3%

GEA Refrigeration Technologies n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 10,9% 11,4% 6,7% -2,6% 5,9%

GEA Group n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 14,2% 22,7% 16,4% 12,7% 16,4%

Operating EBITDA

[in EUR million] 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011

GEA Food Solutions1) 19,4 -2,9 4,9 7,0 6,4 15,5 13,5 10,3 5,5 6,8 36,2 6,2 - - - -





GEA Group 343,0 42,7 57,3 66,2 82,6 248,7 44,9 63,7 79,8 122,3 310,6 62,4 100,3 119,8 187,0 469,6




Order Intake

[in EUR million]Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15

GEA Food Solutions1) - - - - - - - - - - - - - - - -


GEA Mechanical Equipment2) 336,2 329,0 327,1 355,6 1.347,9 329,7 346,4 357,7 334,4 1.368,2 339,1 329,1 328,7 352,9 1.349,8 330,3

GEA Process Engineering 511,3 401,2 468,5 469,2 1.850,2 481,3 570,0 515,2 494,6 2.061,0 366,7 500,9 506,4 461,7 1.835,7 454,4


GEA Group 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 1.167,9 1.157,5 4.519,6 1.127,5

Order Backlog





GEA Process Engineering 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 1.370,5 1.293,4 1.293,4 1.421,6


GEA Group 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 2.185,4 2.037,6 2.037,6 2.256,0

Sales




GEA Mechanical Equipment2) 269,3 319,2 328,6 349,2 1.266,4 298,1 334,0 336,3 359,3 1.327,8 310,0 340,4 349,2 380,8 1.380,4 317,5

GEA Process Engineering 373,2 401,2 423,6 518,3 1.716,3 394,3 435,6 441,3 526,7 1.798,0 390,7 469,1 453,8 538,5 1.852,1 391,4


GEA Group 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 1.146,0 1.301,4 4.515,7 1.006,4

Organic Sales Growth YoY

[in %]Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15


GEA Farm Technologies 16,2% 8,1% 9,6% 8,6% 10,2% -8,5% -1,1% 0,0% 5,3% -0,4% 20,2% 20,6% 14,2% 9,7% 15,5% 3,3%

GEA Mechanical Equipment2) 11,4% 2,3% 1,9% -6,9% 0,8% 9,8% 6,2% 5,5% 5,9% 6,5% 6,5% 4,0% 4,0% 4,4% 4,7% -2,5%

GEA Process Engineering 20,3% -1,2% 1,5% 1,9% 4,5% 6,7% 10,0% 8,5% 5,4% 7,5% 1,5% 10,1% 1,9% 0,6% 3,4% -6,9%

GEA Refrigeration Technologies 0,4% -3,5% 2,3% 9,6% 2,5% 3,0% 16,5% 8,9% 7,8% 9,1% 5,3% 3,5% 6,8% 6,0% 5,4% 12,3%

GEA Group 22,8% -0,4% 4,0% 0,5% 3,4% 5,0% 8,0% 6,2% 6,5% 6,5% 6,0% 7,9% 5,2% 3,6% 5,6% -0,9%

Operating EBITDA

[in EUR million] Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15






GEA Group 68,0 110,7 132,3 183,5 494,4 72,4 118,4 133,5 205,7 530,1 85,1 128,0 149,0 228,5 590,7 98,2




Operating EBITDA - Margin

[in %] 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011

GEA Food Solutions1) 4,9% -3,2% 6,2% 8,4% 7,8% 4,6% 13,4% 10,3% 5,9% 6,6% 9,1% 5,5% - - - -

GEA Farm Technologies 12,4% 0,9% 8,2% 9,6% 8,2% 7,1% 4,4% 5,7% 9,9% 12,0% 8,5% 5,0% 7,1% 10,8% 10,9% 8,9%

GEA Mechanical Equipment2) 17,2% 13,4% 12,9% 17,3% 21,3% 16,1% 15,8% 15,5% 19,5% 23,3% 18,8% 17,1% 16,4% 16,2% 18,8% 17,2%

GEA Process Engineering 7,6% 4,1% 6,2% 7,5% 12,3% 7,7% 5,7% 6,9% 7,0% 12,0% 8,3% 6,6% 8,1% 9,8% 14,8% 10,3%

GEA Refrigeration Technologies 7,9% 3,5% 6,3% 3,4% 6,7% 5,1% 3,2% 6,1% 6,6% 9,2% 6,6% 6,7% 8,7% 8,5% 12,4% 9,3%

GEA Group 10,2% 6,3% 8,3% 9,5% 10,9% 8,8% 7,4% 9,1% 10,4% 13,7% 10,5% 8,8% 10,4% 12,2% 15,9% 12,3%

EBITDA reported







GEA Group 334,4 38,6 49,0 48,3 51,7 187,6 47,0 57,2 65,4 102,3 271,9 59,9 78,1 117,9 184,4 440,3

Operating EBIT



GEA Farm Technologies 55,2 -1,3 6,0 8,6 7,0 20,3 1,0 3,1 8,8 13,4 26,3 2,1 5,6 12,1 14,0 33,8




GEA Group 294,1 29,4 43,4 52,4 66,3 191,6 29,9 48,5 65,3 104,1 247,9 48,2 83,2 101,9 169,3 402,6

Operating EBIT - Margin

[in %] 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011

GEA Food Solutions1) 1,3% -9,2% 1,9% 4,5% 4,1% 0,1% 9,4% 7,0% 1,7% 3,0% 5,3% 2,5% - - - -

GEA Farm Technologies 10,9% -1,5% 6,1% 7,6% 6,1% 4,9% 1,2% 2,9% 7,4% 9,9% 5,9% 2,1% 4,7% 8,7% 9,1% 6,6%




GEA Group 8,8% 4,4% 6,3% 7,5% 8,8% 6,8% 5,0% 6,9% 8,5% 11,7% 8,4% 6,8% 8,6% 10,4% 14,4% 10,5%

EBIT reported



GEA Farm Technologies 53,4 -1,6 3,6 7,4 3,1 12,4 0,5 2,2 8,1 9,2 20,0 1,5 5,0 11,4 13,2 31,1




GEA Group 280,5 24,0 33,7 33,0 33,4 124,2 30,5 40,4 49,3 82,0 202,2 44,0 51,1 91,6 160,2 347,0




Operating EBITDA - Margin

[in %] Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15






GEA Group 7,7% 11,1% 12,5% 15,2% 11,9% 7,8% 11,1% 12,3% 16,6% 12,3% 9,0% 11,5% 13,0% 17,6% 13,1% 9,8%

EBITDA reported




GEA Mechanical Equipment2) -3,0 43,5 48,3 46,1 134,9 38,6 48,3 56,8 71,0 214,7 42,1 48,4 53,6 80,4 224,5 44,9



GEA Group 29,4 104,1 123,0 163,5 420,1 71,1 113,8 130,0 200,3 515,2 83,0 123,1 140,0 193,9 539,9 93,0

Operating EBIT







GEA Group 50,7 94,9 115,4 164,7 425,8 55,4 101,0 115,6 186,8 458,8 66,8 109,3 130,2 207,2 513,5 78,8

Operating EBIT - Margin

[in %] Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15






GEA Group 5,8% 9,5% 10,9% 13,6% 10,3% 6,0% 9,5% 10,6% 15,0% 10,6% 7,0% 9,8% 11,4% 15,9% 11,4% 7,8%

EBIT reported



GEA Farm Technologies 1,2 7,5 13,9 20,3 42,9 -0,9 4,8 13,7 23,7 41,2 2,3 9,3 16,0 28,5 56,0 5,1

GEA Mechanical Equipment2) -12,8 34,5 38,5 21,8 82,1 28,7 38,1 46,1 58,8 171,7 30,5 37,0 41,9 65,9 175,3 32,9



GEA Group 6,5 82,3 100,1 125,4 314,3 48,1 90,4 106,0 175,1 419,6 58,7 98,7 115,4 167,0 439,9 67,5




Capital Employed w/o

goodwill3) (average LTM)

[in EUR million]

2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011

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. n.a.





GEA Group 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 1.117,9 1.266,4 1.436,7 1.619,6 1.619,6

ROCE w/o goodwill4) LTM

[in%]2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011

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. n.a.





GEA Group 26,4% 24,3% 20,8% 17,4% 11,3% 11,3% 12,1% 12,8% 14,4% 18,9% 18,9% 19,3% 17,9% 18,7% 21,4% 21,4%

Capital Employed w/o

goodwill3) (average LTM)

[in EUR million]

Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15



GEA Mechanical Equipment2) 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 1.023,2 1.032,0 1.032,0 1.037,1



GEA Group 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 1.929,0 1.943,4 1.943,4 1.974,0

ROCE w/o goodwill4) LTM

[in%]Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15






GEA Group 17,5% 18,6% 18,6% 16,7% 16,7% 18,8% 19,3% 19,6% 22,1% 22,1% 22,6% 22,9% 23,2% 22,6% 22,6% 22,7%



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


mailto:[email protected]


Investor Relations Contact

Donat von Müller

+49 211 9136 1080

donat.vonmueller

@gea.com

Dr. Helmut Schmale

CFO

+49 211 9136 1082

[email protected]

Axel Wolferts

+49 211 9136 1490

axel.wolferts

@gea.com

Rebecca Grabotin

+49 211 9136 1081

rebecca.grabotin

@gea.com


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