20141027%20gea%20group%20conference%20call%20q3 tcm11 25578
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GEA Group Aktiengesellschaft
Conference Call Results Q3 2014
Düsseldorf, October 28th, 2014
engineering for a better world
Forward-looking statements are based on our current assumptions and forecasts. These statements naturally entail
risks and uncertainties, which may cause the actual results of operations, financial position or performance to diverge
significantly from the estimates given here. Factors that could cause such a divergence include changes in the
economic and business environment, fluctuations in exchange rates and interest rates, launches of competing products,
poor acceptance of new products or services, and changes in business strategy. We are under no obligation to update
forward-looking statements.
Due to rounding, the sum of percentages of order intake and sales by region as well as by customer industry may vary
from 100%.
Disclaimer
GEA Presentation Results Q3 2014 - October 28th, 2014 2
engineering for a better world
Confirmation of FY14 guidance due to strong Q3 results
GEA Presentation Results Q3 2014 - October 28th, 2014 3
Order
Intake (EURm)
1,168
Sales
(EURm)
1,146
Operating
EBITDA (EURm)
149.0
Operating
EBIT (EURm)
130.2
ROCE
23.2%
CFD Margin
8.8%
D organic:
-1% YoY
D organic:
+5% YoY D +12% YoY D +13% YoY
D +361 bps
YoY
D -19 bps
YoY
D reported:
0% YoY
Organic
growth in all
segments
Q3 record
margin of
13.0%
+74 bps YoY
Q3 record
margin of
11.4%
+75 bps YoY
Key Highlights Q3 2014:
engineering for a better world
Sales
1,089 1,146
Q3 2013 Q3 2014
[EURm] [EURm]
Operating EBIT Margin
10.6% 11.4%
Q3 2013 Q3 2014
Operating EBIT
1,168 1,168
Q3 2013 Q3 2014
116 130
Q3 2013 Q3 2014
Order Intake
Key Figures Q3 2014 and change YoY
4 GEA Presentation Results Q3 2014 - October 28th, 2014
[EURm]
organic: -1% organic: +5%
D 0% D +5%
D +13% D +75 bps
engineering for a better world
Development LTM: Order Intake, Sales, Operating Margins
5
[EURm]
GEA Presentation Results Q3 2014 - October 28th, 2014
9.6%
11.4%
12.1% 11.9%
12.7%
7.4%
9.5%
10.5% 10.2%
11.1%
6%
7%
8%
9%
10%
11%
12%
13%
2000
3000
4000
5000
6000
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
Order Intake Sales Operating EBITDA Margin Operating EBIT Margin
6,000
5,000
4,000
3,000
2,000
Operating EBIT Margin first time > 11% on rolling LTM
engineering for a better world
Operating EBIT
15 21
42 46
50 48
14 19
Q3 2013 Q3 2014
175 195
515 506
358 329
151 166
Q3 2013 Q3 2014
Operating EBIT Margin
Sales Order Intake
Segments Q3 2014
1,168 1,168
GEA RT
GEA PE
GEA ME
GEA FT
6 GEA Presentation Results Q3 2014 - October 28th, 2014
GEA RT
GEA PE
GEA ME
GEA FT
[EURm]
organic: -1%
D 0%
D -8%
D -2%
D +11%
D +10%
185 196
441 454
336 349
157 176
Q3 2013 Q3 2014
1,089 1,146
D +4%
D +3%
D +6%
D +12%
organic: +5%
D +5%
GEA RT
GEA PE
GEA ME
GEA FT
116 130
D +8%
D -5%
D +44%
D +13%
Q3 2013 Q3 2014 D YoY
GEA FT 9.2% 10.9% +173 bps
GEA ME 14.9% 13.6% -127 bps
GEA PE 9.6% 10.1% +44 bps
GEA RT 8.0% 10.7% +279 bps
GEA Group 10.6% 11.4% +75 bps
[EURm] [EURm]
D +34%
engineering for a better world
Order development per size since Q3 2010
Strong growth YoY in orders < EUR 1m (+6%)
7
[EURm]
GEA Presentation Results Q3 2014 - October 28th, 2014
518 576 596 619 705 686 669
737 711 702 745 710 722 724 747 754 773 765
139 149
173 168
185 166 208
214 172
221 175 144
234 167
211 160 170 174
65 63
64 135
135 128 111
96 102
124 107 131
102 132
67 88
103 68
33 66 41
60 58
100
44 65 112
110
162 144 121 22
123 160
0
200
400
600
800
1.000
1.200
1.400
Q3 10 Q4 10 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
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
1,400
1,200
1,000
f L4Q:
760 f L4Q:
725 f L4Q:
705
engineering for a better world
Sales LTM per Q3 2014: Strong Western Europe driven by dairy export business
GEA Presentation Results Q3 2014 - October 28th, 2014
North America
D YoY: -3%
16%
8
Eastern Europe
& CIS
8%
D YoY: +4%
Western Europe
37%
D YoY: +13%
Latin America
D YoY: -2%
6%
Africa
D YoY: -5%
4%
Middle East
D YoY: -18%
4%
Asia-Pacific
D YoY: +3%
25%
Emerging Markets1
38%
D YoY: -4%
Top-3-Countries
USA: 15% (16%)
D abs.: -3% YoY
China: 9% (10%)
D abs.: -1% YoY
Germany: 9% (9%)
D abs.: +3% YoY
1 According to the definition of emerging/developing economies by International Monetary Fund.
engineering for a better world
Sales by Customer Industry since Q4 20091: Strong growth from dairy sector
GEA Presentation Results Q3 2014 - October 28th, 2014 9
1 Average last four quarters: Q1 – Q4 2009 = Index 100
.
14% (13%)
23% (22%)
22% (24%)
13% (14%)
12% (13%)
16% (14%)
Sales LTM
per Q3 2014:
EUR 4,456m
+4% YoY
Dairy Farming
D +10% YoY
Food
D -4% YoY
Beverages
D -2% YoY
Other Industries
D +16% YoY
Pharma/
Chemical
D -6% YoY Dairy
Processing
D +11% YoY
60%
100%
140%
180%
220%
Dairy Farming Dairy Processing GEA Group
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
Pharma/Chemical Other Industries GEA Group
60%
100%
140%
180%
220%
Food Beverages GEA Group
engineering for a better world
Book to bill ratio (L4Q)
Q3 2014
Dairy Farming 1,01 5,5% 1,00 1,1% 1,05 4,8% 1,00 1,0% -6,43 0,0% 1,68 0,1% 1,04 1,6% 1,02 14,0%
Dairy Processing 0,84 8,1% 1,57 2,8% 1,06 3,1% 1,64 2,0% 1,52 0,9% 1,02 0,8% 1,30 8,1% 1,11 25,7%
Food 1,02 9,2% 0,96 2,2% 1,12 3,5% 1,12 1,4% 0,89 1,4% 1,14 0,9% 0,87 3,1% 1,00 21,8%
Beverages 0,87 3,2% 0,52 0,8% 0,80 1,1% 0,57 0,5% 2,60 2,0% 0,31 0,1% 0,84 3,5% 0,87 11,3%
Food & Beverages 0,93 26,0% 1,02 6,9% 1,04 12,4% 1,12 4,9% 1,47 4,3% 0,93 1,9% 1,05 16,3% 1,02 72,8%
Pharma 1,14 2,6% 0,50 0,3% 0,92 1,0% 1,07 0,6% 0,20 0,0% 1,04 0,3% 0,97 2,1% 0,97 7,0%
Chemical 1,02 1,3% 0,86 0,1% 0,99 1,0% 0,95 0,3% 3,25 0,1% 0,44 0,1% 1,17 2,1% 1,05 5,0%
Pharma/Chemical 1,10 4,0% 0,57 0,4% 0,95 2,0% 1,03 0,9% 0,75 0,2% 0,75 0,4% 1,06 4,1% 1,00 12,0%
Environment 1,19 1,6% 0,92 0,3% 0,94 0,7% 0,39 0,1% 1,17 0,1% 0,99 0,1% 0,96 1,1% 1,00 3,9%
Oil & Gas 1,31 0,9% 2,60 0,7% 1,03 0,8% 0,41 0,0% 2,23 0,1% 0,30 0,1% 0,40 0,7% 0,83 3,4%
Marine 1,13 1,5% 1,26 0,1% 1,00 0,1% 0,66 0,1% 0,89 0,0% 0,64 0,0% 1,35 1,9% 1,20 3,7%
Power 0,75 0,2% 0,42 0,0% 1,24 0,1% 1,07 0,1% 0,97 0,1% 0,97 0,2% 0,85 0,1% 0,89 0,9%
Others 1,08 1,2% 1,07 0,3% 0,95 0,3% 0,72 0,2% 0,48 0,0% 0,73 0,1% 1,04 1,2% 0,99 3,3%
Other Industries 1,13 5,4% 1,41 1,3% 1,00 2,1% 0,62 0,5% 1,19 0,4% 0,62 0,6% 0,89 5,0% 0,98 15,2%
Total 0,98 35,4% 1,03 8,6% 1,02 16,5% 1,03 6,3% 1,39 4,8% 0,82 2,9% 1,02 25,4% 1,01 100,0%
Latin America Africa Middle - East Asia - Pacific TotalWestern
Europe
Eastern Europe
& CIS
North America
<= 0.8 > 0.8 and < 1.0 >= 1.2 > 1.0 and < 1.2
Colour code: Only cross-sections with a share of > 1% of group order intake are colored
Book to Bill categories
BtB % of OI BtB % of OI BtB % of OI BtB % of OI BtB % of OI BtB % of OI BtB % of OI BtB % of OI
Book to Bill Ratio > 1 in Food & Beverages driven by Dairy Processing
GEA Presentation Results Q3 2014 - October 28th, 2014 10
engineering for a better world
750 850 850 900
951
1,082
1,286 1,285
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
Order Backlog invoicable in respective FY Order Backlog invoicable after respective FY
Order Backlog: Continuously increasing
11 GEA Presentation Results Q3 2014 - October 28th, 2014
[EURm]
1.06 1.06 1.05 1.07 1.07 1.05 1.07 1.04 1.05 1.07 1.08 1.02 1.01
2,136
1,701 1,599
1,841 1,901
1,983 2,085
1,830 1,932
2,015 2,087 2,137 2,185
LTM BtB ratio #
engineering for a better world
ROCE Development: Already above 23%
12
[EURm]
GEA Presentation Results Q3 2014 - October 28th, 2014
1,772 1,830 1,873 1,887 1,890 1,891 1,886 1,895 1,900 1,912 1,929
17.5% 18.6% 18.6%
16.7%
18.8% 19.3% 19.6%
22.1% 22.6% 22.9% 23.2%
Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14
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)
engineering for a better world
Working Capital ratio stabilized at around 12%
13
[EURm]
GEA Presentation Results Q3 2014 - October 28th, 2014
351
269
404 449 460
395
523 521 511
356
515 521 538
363
535
590 548
12.4% 11.6% 11.3% 11.0% 11.3% 11.4%
12.1% 12.8% 12.9% 12.7%
12.2% 11.9% 11.7% 11.7% 11.8% 11.9% 12.1%
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
Working Capital Working Capital (average LTM) as % of sales (LTM)
engineering for a better world
Cash Flow Driver Margin Development
14 GEA Presentation Results Q3 2014 - October 28th, 2014
-138 -147 -132 -88 -26 10 33 19 -1 -19 -38
410 436 441 420 462 471 478 515 527 536 546
-129 -116 -120 -125
-126 -126 -124 -120 -122 -123 -114
3.6% 4.3% 4.6% 5.0%
7.4% 8.3% 9.0% 9.6% 9.3% 9.0% 8.8%
Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14
Delta Working Capital (Average LTM) EBITDA (LTM) Capex (LTM) Cash Flow Driver Margin (LTM)
[EURm]
EBITDA Capex D Working Capital (Average LTM)
Sales Sales Sales - - +
engineering for a better world
Net Liquidity reconciliation incl. GEA HX
[EURm]
-356.3
Dividend
Net Debt 30.09.2014
-115.5
-6.1
Discontinued Operations -40.0
Net Debt bef. DOP, M&A and Dividend -194.7
-18.5 Delta Working Capital
-145.2 CAPEX
-140.8
678.7
Net Debt 30.09.2013
Effect from acquisitions
-515.9
Taxes / Interests
-53.0 Others
EBITDA
D +EUR 321m
Cash generation LTM: EUR ~320m
GEA Presentation Results Q3 2014 - October 28th, 2014 15
(YTD 2014: EUR 8m)
engineering for a better world
Service Business per Q3 LTM: 27% of Sales
16 GEA Presentation Results Q3 2014 - October 28th, 2014
Organic growth YoY of +8.1% (+5.2% reported)
[EURm]
1,137
240
461
242 194
1,196
257
479
266 209
GEA Group GEA FT GEA ME GEA PE GEA RT
D +8%
(+5% reported)
D +12%
(+7% reported)
D +7%
(+4% reported)
D +12%
(+10% reported)
D +10%
(+8% reported)
42% 27% 27% 41% 35% 35% 14% 14% 27% 28%
Q3 2013 LTM Q3 2014 LTM Share of Service Sales %
engineering for a better world
At the condition of no unexpected economic downturns, assuming constant FX-rates
versus FY 2013 and disregarding potential acquisitions and one-off expenses we are
aiming in 2014 for:
Cash Flow Driver Margin:
Guidance FY 2014 continuing operations confirmed
Sales
moderate growth
Operating EBITDA (EURm)
550 - 590
Cash Flow Driver Margin
9.0% - 9.5%
EBITDA Capex D Working Capital (Average LTM)
Sales Sales Sales - - +
GEA Presentation Results Q3 2014 - October 28th, 2014 17
engineering for a better world
Additional Financial Information for 2014
GEA Presentation Results Q3 2014 - October 28th, 2014 18
Depreciation &
amortization
(incl PPA) (EURm)
around
100
Thereof impact
from PPA in
2014 and in
subsequent
years (EURm)
around
23p.a.
Long term
target capex
level
(of sales)
around 2%
Interest rate
financial
liabilities
below
3%p.a.
Dividend policy
payout
ratio around
40-50% of net income
Working Capital
LTM
(of sales LTM)
approx.11% -13%
engineering for a better world
Financial Targets
FY 2014 - 2020
CAGR Organic Sales Growth FY 2014 - FY 2020: 4% to 6% p.a.
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 Presentation Results Q3 2014 - October 28th, 2014 19
engineering for a better world
Nov 5, 2014 Roadshow France Paris
Nov 11, 2014 Roadshow Germany Frankfurt
Nov 6, 2014 Roadshow Sweden Stockholm
Nov 11-12, 2014 Conference UK London
Nov 19, 2014 Conference UK London
Nov 21, 2014 Roadshow Belgium Brussel
Nov 26, 2014 Roadshow Switzerland Geneva
Investor Relations Calendar
Nov 27, 2014 Conference Switzerland Zurich
Nov 20, 2014 Roadshow Netherlands Amsterdam
2 0 1 4
GEA Presentation Results Q3 2014 - October 28th, 2014 20
engineering for a better world
Dec 1, 2014 Roadshow Spain Madrid
Dec 3, 2014 Roadshow Switzerland Lugano
Dec 2, 2014 Roadshow Italy Milan
Dec 1-2, 2014 Conference UK London
Dec 8, 2014 Roadshow Luxembourg Luxembourg
Investor Relations Calendar
2 0 1 4
GEA Presentation Results Q3 2014 - October 28th, 2014 21
engineering for a better world
Jan 8, 2015 Conference France Lyon
Feb 4, 2015 Preliminary Results FY 2014 Düsseldorf
Jan 12-14, 2015 Conference USA New York
Jan 19-21, 2015 Conference Germany Frankfurt
Mar 10, 2015 Annual Report FY 2014 Düsseldorf
May 11, 2015 Interim Report Q1/2015 Düsseldorf
Investor Relations Calendar
Apr 16, 2015 Annual General Meeting Oberhausen
2 0 1 5
GEA Presentation Results Q3 2014 - October 28th, 2014 22
engineering for a better world
Order Intake by Size / Large Order
Development Q3 2014
518 576 596 619 705 686 669 737 711 702 745 710 722 724 747 754 773 765
139 149 173 168
185 166 208 214 172 221 175 144 234 167 211 160 170 174
65 63 64 135
135 128 111 96
102 124 107 131 102 132 67 88 103 68
33 66 41
60 58 100 44 65
112 110 162 144 121 22 123 160
0
200
400
600
800
1000
1200
1400
Q310
Q410
Q111
Q211
Q2112
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
Q314
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
7.4%
9.5% 10.5% 10.2%
11.1%
0%
2%
4%
6%
8%
10%
12%
0
1000
2000
3000
4000
5000
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
Q314
Order Intake Sales Operating EBIT Margin
Sales by Customer
Industry
37%
25%
16%
8%
6% 4% 4%
Western Europe
Asia-Pacific
North America
Eastern Europe&CIS
Latin America
Middle East
Africa
14%
23%
22%
13%
12%
16%
Dairy Farming
Dairy Processing
Food
Beverages
Pharma/Chemical
Other Industries
[in EUR million] Q3 2013 Q3 2014 ∆ Q1-Q3
2013
Q1-Q3
2014 ∆
Order Intake
organic 1,168.3 1,167.9
0.0%
-0.9% 3,483.4 3,362.1
-3.5%
-1.6%
Sales
organic 1,089.1 1,146.0
+5.2%
+5.2% 3,077.8 3,214.3
+4.4%
+6.4%
Order Backlog 2,136.2 2,185.4 +2.3% 2,136.2 2,185.4 +2.3%
Operating EBITDA 133.5 149.0 +11.6% 324.3 362.2 +11.7%
Operating EBITDA-
Margin 12.3% 13.0% +74 bps 10.5% 11.3% +73 bps
Operating EBIT 115.6 130.2 +12.7% 272.0 306.3 +12.6%
Operating EBIT-Margin 10.6% 11.4% +75 bps 8.8% 9.5% +69 bps
ROCE (LTM)1 19.6% 23.2% +361 bps 19.6% 23.2% +361 bps
Order Intake, Sales and Operating EBIT
Margin (LTM)
GEA Group
24 GEA Presentation Results Q3 2014 - October 28th, 2014
[EURm] [EURm]
LTM per
Q3 2014:
EUR 4,456m
+4% YoY
LTM per
Q3 2014:
EUR 4,456m
+4% YoY
+16%
-2%
-4%
+11%
+10%
Δ YoY
-18%
+4% -3% +3% +13%
Δ YoY -2%
-5%
-6%
Sales by Region
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)
3,000
4,000
5,000
2,000
1,000
1,000
1,200
1,400
w/o FS Incl.FS
engineering for a better world
Sales by Customer
Industry
40%
11%
34%
8% 7%
Western Europe
Asia-Pacific
North America
Eastern Europe&CIS
Latin America
100%
Dairy Farming
[in EUR million] Q3 2013 Q3 2014 ∆ Q1-Q3
2013
Q1-Q3
2014 ∆
Order Intake
organic 150.7 166.4
+10.4%
+12.2% 445.1 497.7
+11.8%
+15.9%
Sales
organic 156.9 176.4
+12.4%
+14.2% 401.5 457.2
+13.9%
+18.0%
Order Backlog 112.2 120.8 +7.6% 112.2 120.8 +7.6%
Operating EBITDA 17.6 22.3 +26.8% 29.2 41.5 +42.2%
Operating EBITDA-
Margin 11.2% 12.7% +143 bps 7.3% 9.1% +181 bps
Operating EBIT 14.4 19.3 +33.6% 20.1 32.3 +61.1%
Operating EBIT-Margin 9.2% 10.9% +173 bps 5.0% 7.1% +207 bps
ROCE (LTM)1 11.5% 15.8% +426 bps 11.5% 15.8% +426 bps
GEA Farm Technologies
25 GEA Presentation Results Q3 2014 - October 28th, 2014
LTM per
Q3 2014:
EUR 633m
+10% YoY
LTM per
Q3 2014:
EUR 633m
+10% YoY
+10% Δ YoY -31%
+13%
+21%
+17%
Δ YoY
+17%
Sales by Region
Order Intake by Size / Large Order
Development Q3 2014
115 116 126 130 140 129 147 144 146 143 139 151 149 151 161 165 165
3 1 1 1 5 2 1 1
5 1
0
30
60
90
120
150
180
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
Q314
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
4.7%
6.7% 6.9% 7.2%
9.0%
0%
2%
4%
6%
8%
10%
0
200
400
600
800
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
Q314
Order Intake Sales Operating EBIT Margin
Order Intake, Sales and Operating EBIT
Margin (LTM) [EURm] [EURm]
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)
engineering for a better world
35%
27%
18%
7%
7% 4%
3%
Western Europe
Asia-Pacific
North America
Eastern Europe&CIS
Latin America
Middle East
Africa
Sales by Customer
Industry 14%
42% 9%
9%
26%
Dairy Processing
Food
Beverages
Pharma/Chemical
Other Industries
[in EUR million] Q3 2013 Q3 2014 ∆ Q1-Q3
2013
Q1-Q3
2014 ∆
Order Intake
organic 357.7 328.7
-8.1%
-7.9% 1,033.8 996.9
-3.6%
-2.1%
Sales
organic 336.3 349.2
+3.8%
+4.0% 968.4 999.7
+3.2%
+4.8%
Order Backlog 456.8 421.7 -7.7% 456.8 421.7 -7.7%
Operating EBITDA 56.8 55.4 -2.4% 143.7 146.0 +1.6%
Operating EBITDA-
Margin 16.9% 15.9% -102 bps 14.8% 14.6% -23 bps
Operating EBIT 50.1 47.6 -5.0% 124.8 122.9 -1.5%
Operating EBIT-Margin 14.9% 13.6% -127 bps 12.9% 12.3% -60 bps
ROCE (LTM)1 13.8% 16.5% +267 bps 13.8% 16.5% +267 bps
GEA Mechanical Equipment
26 GEA Presentation Results Q3 2014 - October 28th, 2014
LTM per
Q3 2014:
EUR 1,359m
+3% YoY
LTM per
Q3 2014:
EUR 1,359m
+3% YoY
Sales by Region
+11%
-7%
-5%
-3%
Δ YoY
+20% -41%
+27% -3% +15% +2%
Δ YoY -12%
+33%
Order Intake by Size / Large Order
Development Q3 2014
278 280 274 336
280 271 289 289 300 301 283 311 302 297
46 30 49 42 44 26 19 38 31 40
21 27 24
9 19 7 12 8 5
8 8 11 6 7 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
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
14.2% 13.8% 13.7%
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
Order Intake Sales Operating EBIT Margin
Order Intake, Sales and Operating EBIT
Margin (LTM) [EURm] [EURm]
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)
1,200
1,400
1,600
1,000
engineering for a better world
Sales by Customer
Industry
44%
5% 24%
20%
7%
Dairy Processing
Food
Beverages
Pharma/Chemical
Other Industries
34%
33%
11%
8%
7% 4% 4%
Western Europe
Asia-Pacific
North America
Eastern Europe&CIS
Latin America
Middle East
Africa
[in EUR million] Q3 2013 Q3 2014 ∆ Q1-Q3 2013 Q1-Q3 2014 ∆
Order Intake
organic 515.2 506.4
-1.7%
-4.5% 1,566.4 1,374.0
-12.3%
-11.2%
Sales
organic 441.3 453.8
+2.8%
+1.9% 1,271.3 1,313.6
+3.3%
+4.6%
Order Backlog 1,334.9 1,370.5 +2.7% 1,334.9 1,370.5 +2.7%
Operating EBITDA 46.3 49.4 +6.6% 120.7 128.4 +6.4%
Operating EBITDA
Margin 10.5% 10.9% +39 bps 9.5% 9.8% +28 bps
Operating EBIT 42.4 45.6 +7.5% 109.3 117.2 +7.2%
Operating EBIT
Margin 9.6% 10.1% +44 bps 8.6% 8.9% +32 bps
ROCE (LTM)1 70.3% 76.4% +610 bps 70.3% 76.4% +610 bps
GEA Process Engineering
LTM per
Q3 2014:
EUR 1,840m
+3% YoY
LTM per
Q3 2014:
EUR 1,840m
+3% YoY
Sales by Region
+15%
-6%
-3%
-27%
+14%
Δ YoY
-6%
+11% -20% -4% +25%
Δ YoY -3%
-10%
Order Intake by Size / Large Order
Development Q3 2014
136 177 169 178 167 159 186 175 170 197 174 170 166 194 184 185 182
110 119 133 122 116 121
144 107 132 100 104 155
98 130
91 96 109 43
58 59 127
90 111 82
75 101 94 126
82 124 50
69 96 55 33
66 41 60 58 100
44 65 79 78
162 127 121
22
123 160
0
100
200
300
400
500
600
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
Q314
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
7.0%
8.3% 9.5%
10.1% 10.7%
0%
2%
4%
6%
8%
10%
12%
0
400
800
1200
1600
2000
2400
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
Q314
Order Intake Sales Operating EBIT Margin
Order Intake, Sales and Operating EBIT
Margin (LTM)
27 GEA Presentation Results Q3 2014 - October 28th, 2014
[EURm] [EURm]
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)
1,600
2,000
2,400
1,200
engineering for a better world
43%
15%
14%
13%
2% 6%
7%
Western Europe
Asia-Pacific
North America
Eastern Europe&CIS
Latin America
Middle East
Africa
Sales by Customer
Industry 6%
51%
5%
7%
32%
Dairy Processing
Food
Beverages
Pharma/Chemical
Other Industries
[in EUR million] Q3 2013 Q3 2014 ∆ Q1-Q3
2013
Q1-Q3
2014 ∆
Order Intake
organic 174.9 195.0
+11.5%
+11.9% 534.0 592.0
+10.9%
+13.5%
Sales
organic 184.8 196.4
+6.3%
+6.8% 526.0 540.3
+2.7%
+5.1%
Order Backlog 253.1 293.9 +16.1% 253.1 293.9 +16.1%
Operating EBITDA 17.1 23.6 +38.2% 43.5 55.9 28.6%
Operating EBITDA-
Margin 9.3% 12.0% +278 bps 8.3% 10.3% +208 bps
Operating EBIT 14.7 21.1 +43.6% 36.4 48.4 +33.2%
Operating EBIT-Margin 8.0% 10.7% +279 bps 6.9% 9.0% +205 bps
ROCE (LTM)1 22.1% 26.2% +417 bps 22.1% 26.2% +417 bps
GEA Refrigeration Technologies
28 GEA Presentation Results Q3 2014 - October 28th, 2014
LTM per
Q3 2014:
EUR 751m
+3% YoY
LTM per
Q3 2014:
EUR 751m
+3% YoY
Sales by Region
-29%
+28%
+4%
+8%
Δ YoY
+11% -1%
+3% +9% +1% +7%
Δ YoY +21%
-14%
Order Intake by Size / Large Order
Development Q3 2014
122 120 128 145 126 135 140 139 146 142 140 134 139 146 134 155 149
17 27 19 17
20 35 29 22
44 50 22 35 35 40 46
42 40 10
5 6 19
8 20
10 6
12
6 13 7 6
16
0
50
100
150
200
250
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
Q314
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
4.4%
7.1% 8.0% 8.1%
9.8%
0%
2%
4%
6%
8%
10%
0
200
400
600
800
1000
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
Q314
Order Intake Sales Operating EBIT Margin
Order Intake, Sales and Operating EBIT
Margin (LTM) [EURm] [EURm]
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)
engineering for a better world
Q3 2014 vs.
Q3 2013
Q1-Q3 2014 vs.
Q1-Q3 2013
Q3 2014 vs.
Q2 2014
∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in %
Order Intake
previous period 1,168 3,483 1,170
Structural Change 0 0 % 0 0 % 0 0 %
Currency Effects +10 +0.9 % -65 -1.9 % +16 +1.4 %
Organic Development -11 -0.9 % -56 -1.6 % -18 -1.6 %
Order Intake
current period 1,168 0 % 3,362 -3.5 % 1,168 -0.2 %
Order Intake Q3 2014
GEA Presentation Results Q3 2014 - October 28th, 2014 29
[EURm]
engineering for a better world
Q3 2014 vs.
Q3 2013
Q1-Q3 2014 vs.
Q1-Q3 2013
Q3 2014 vs.
Q2 2014
∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in %
Sales
previous period 1,089 3,078 1,118
Structural Change 0 0 % 0 0 % 0 0 %
Currency Effects 0 0 % -60 -1.9 % +14 +1.3 %
Organic Development +57 +5.2 % +196 +6.4 % +14 +1.3 %
Sales
current period 1,146 +5.2 % 3,214 +4.4 % 1,146 +2.5 %
Sales Q3 2014
GEA Presentation Results Q3 2014 - October 28th, 2014 30
[EURm]
engineering for a better world
Q3 2014 vs.
Q3 2013
Q1-Q3 2014 vs.
Q1-Q3 2013
Q3 2014 vs.
Q2 2014
∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in %
Operating EBITDA
previous period 134 324 128
Structural Change 0 0 % 0 0 % 0 0 %
Currency Effects -1 -0.6 % -6 -1.9 % +2 +1.3 %
Organic Development +16 +12.2 % +44 +13.6 % +19 +15.1 %
Operating EBITDA
current period 149 +11.6 % 362 +11.7 % 149 +16.4 %
Operating EBITDA Q3 2014
GEA Presentation Results Q3 2014 - October 28th, 2014 31
[EURm]
engineering for a better world
140
149150
134
Organic Q3 2013 Operating
EBITDA
One-Offs Q3 2014
Reported EBITDA
Q3 2014
Operating EBITDA
FX Q3 2014 Operating
EBITDA before FX
+16 -1 -9
+12.2%
-0.6% -6.8%
GEA’s reported EBITDA negatively impacted by FX and One-Offs
EBITDA bridge Q3 2014 [EURm]
GEA Presentation Results Q3 2014 - October 28th, 2014 32
engineering for a better world
FX Development Q3 2014 YoY
Currency % total Q3
3rd party sales
FX development
Q3 14 vs Q3 13 (average)
USD 16 % -2.8 %
DKK 5 % 0.0 %
CNY 5 % -2.8 %
GBP 5 % +5.0 %
NZD 4 % +0.8 %
SGD 3 % -3.2 %
BRL 2 % -10.0 %
PLN 2 % +0.6 %
AUD 2 % -8.7 %
CAD 2 % -9.0 %
GEA Presentation Results Q3 2014 - October 28th, 2014 33
engineering for a better world
[EURm]
Working Capital Development
GEA Presentation Results Q3 2014 - October 28th, 2014 34
622
551
641
944
929
939
535
647
537
492
470
495
538
363
548
Trade
Receivables Inventories
Trade
Payables
Advance
Payments
Working
Capital
Q4 2013
Q3 2014
+10
+1%
+90
+16%
-110
-17%
+24
+5%
+185
+51%
Q3 2013
-15
-2%
-71
-11%
+111
+21%
-22
-4%
-175
-32%
=
=
=
engineering for a better world
Key Figures Time Line (1/6)
Order Intake
[in EUR million]Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) 95,1 116,4 100,5 85,7 397,7 75,6 101,2 81,6 95,5 353,9 115,5 94,5 100,7 98,9 409,6
GEA Farm Technologies 123,5 120,5 137,0 116,0 497,1 94,9 101,2 94,9 98,6 389,6 101,1 116,1 115,0 116,3 448,5
GEA Mechanical Equipment2) 257,4 258,0 237,0 177,0 929,4 194,9 162,2 158,6 169,4 685,1 172,0 194,7 191,9 181,8 740,4
GEA Process Engineering 367,3 355,4 346,4 264,4 1.333,6 251,0 308,7 254,0 334,6 1.148,3 335,7 339,0 321,7 419,7 1.416,1
GEA Refrigeration Technologies 174,1 152,3 144,2 143,3 613,9 138,9 143,2 114,3 130,3 526,6 127,5 150,6 148,9 152,5 579,6
GEA Group excluding HX 899,2 863,9 842,9 687,1 3.293,0 664,4 703,0 605,0 715,6 2.688,1 713,4 777,3 755,3 854,4 3.100,3
GEA Heat Exchangers 485,0 416,4 389,1 431,4 1.721,9 413,6 338,9 365,0 301,3 1.418,7 304,4 398,3 404,1 399,2 1.506,0
GEA Group incl. HX 1.374,3 1.272,7 1.223,5 1.113,3 4.983,9 1.072,5 1.036,0 962,3 1.009,9 4.080,7 1.010,2 1.167,3 1.152,6 1.247,8 4.578,0
Order Backlog
[in EUR million]Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) 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 Farm Technologies 107,8 106,0 111,1 77,5 77,5 86,0 89,5 77,2 61,5 61,5 77,1 89,4 80,6 63,1 63,1
GEA Mechanical Equipment2) 290,8 357,5 376,5 338,0 338,0 325,6 303,5 285,2 280,8 280,8 298,3 319,1 306,1 284,1 284,1
GEA Process Engineering 850,7 830,9 826,6 666,2 666,2 651,5 658,2 627,9 660,2 660,2 757,6 821,2 788,9 813,0 813,0
GEA Refrigeration Technologies 241,9 235,5 236,8 204,1 204,1 222,4 231,7 196,7 169,9 169,9 183,8 203,9 205,9 183,8 183,8
GEA Group excluding HX 1.483,5 1.520,3 1.539,2 1.283,6 1.283,6 1.276,0 1.274,4 1.175,8 1.161,1 1.161,1 1.301,8 1.417,0 1.362,1 1.333,5 1.333,5
GEA Heat Exchangers 1.348,3 1.344,1 1.291,7 1.172,1 1.172,1 1.203,6 1.165,3 1.142,6 1.008,6 1.008,6 1.006,7 1.061,1 1.071,3 1.086,9 1.086,9
GEA Group incl. HX 2.822,6 2.857,8 2.823,8 2.450,7 2.450,7 2.476,2 2.435,3 2.312,2 2.164,1 2.164,1 2.301,1 2.468,5 2.423,7 2.414,0 2.414,0
Sales
[in EUR million]Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) 91,8 99,1 98,5 104,8 394,2 89,0 79,8 82,8 82,5 334,1 101,0 99,8 93,1 103,7 397,6
GEA Farm Technologies 94,9 123,9 138,5 147,1 504,5 86,6 98,5 112,0 114,7 411,8 85,4 106,6 119,8 134,9 446,7
GEA Mechanical Equipment2) 196,9 190,7 210,9 211,2 809,7 200,0 179,9 163,8 174,0 717,5 156,7 173,7 193,1 201,9 725,4
GEA Process Engineering 328,2 395,8 364,5 398,9 1.487,4 270,7 281,9 278,1 313,2 1.144,0 256,9 298,5 330,9 402,2 1.288,5
GEA Refrigeration Technologies 132,5 159,3 142,9 175,9 610,6 122,3 136,9 148,2 158,2 565,6 117,4 135,3 139,7 171,3 563,7
GEA Group excluding HX 735,9 856,2 844,4 916,2 3.352,7 674,5 688,4 695,0 756,1 2.814,0 603,2 700,7 769,7 889,5 2.963,1
GEA Heat Exchangers 398,7 449,8 481,7 529,0 1.859,2 387,0 421,2 372,0 443,1 1.623,4 340,9 370,8 361,6 410,1 1.483,4
GEA Group incl. HX 1.127,2 1.295,8 1.318,0 1.438,0 5.179,0 1.054,5 1.103,9 1.060,8 1.191,9 4.411,2 938,2 1.065,1 1.124,7 1.290,4 4.418,4
Operating EBITDA
[in EUR million] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) -4,5 7,0 9,4 7,6 19,4 -2,9 4,9 7,0 6,4 15,5 13,5 10,3 5,5 6,8 36,2
GEA Farm Technologies 6,0 13,6 21,3 21,5 62,3 0,8 8,1 10,8 9,4 29,1 3,8 6,1 11,8 16,2 37,9
GEA Mechanical Equipment2) 30,1 32,9 32,8 43,5 139,3 26,7 23,2 28,4 37,0 115,2 24,8 26,9 37,7 46,9 136,4
GEA Process Engineering 12,1 26,1 28,0 47,0 113,2 11,1 17,3 21,0 38,6 88,0 14,7 20,5 23,0 48,3 106,5
GEA Refrigeration Technologies 7,7 11,9 11,7 16,9 48,1 4,3 8,6 5,0 10,7 28,6 3,8 8,2 9,2 15,8 37,1
GEA Group excluding HX 51,9 82,7 87,8 120,7 343,0 42,7 57,3 66,2 82,6 248,7 44,9 63,7 79,8 122,3 310,6
GEA Heat Exchangers 42,6 55,7 65,2 79,8 243,2 36,1 38,2 45,5 58,6 178,4 33,2 34,2 38,3 47,0 152,7
GEA Group incl. HX 94,5 138,6 152,7 200,1 585,9 78,8 95,4 111,7 147,2 433,1 78,1 97,9 118,1 169,5 463,5
Operating EBITDA - Margin
[in %] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) -4,9% 7,1% 9,5% 7,2% 4,9% -3,2% 6,2% 8,4% 7,8% 4,6% 13,4% 10,3% 5,9% 6,6% 9,1%
GEA Farm Technologies 6,3% 11,0% 15,4% 14,6% 12,4% 0,9% 8,2% 9,6% 8,2% 7,1% 4,4% 5,7% 9,9% 12,0% 8,5%
GEA Mechanical Equipment2) 15,3% 17,3% 15,5% 20,6% 17,2% 13,4% 12,9% 17,3% 21,3% 16,1% 15,8% 15,5% 19,5% 23,3% 18,8%
GEA Process Engineering 3,7% 6,6% 7,7% 11,8% 7,6% 4,1% 6,2% 7,5% 12,3% 7,7% 5,7% 6,9% 7,0% 12,0% 8,3%
GEA Refrigeration Technologies 5,8% 7,5% 8,2% 9,6% 7,9% 3,5% 6,3% 3,4% 6,7% 5,1% 3,2% 6,1% 6,6% 9,2% 6,6%
GEA Group excluding HX 7,0% 9,7% 10,4% 13,2% 10,2% 6,3% 8,3% 9,5% 10,9% 8,8% 7,4% 9,1% 10,4% 13,7% 10,5%
GEA Heat Exchangers 10,7% 12,4% 13,5% 15,1% 13,1% 9,3% 9,1% 12,2% 13,2% 11,0% 9,7% 9,2% 10,6% 11,5% 10,3%
GEA Group incl. HX 8,4% 10,7% 11,6% 13,9% 11,3% 7,5% 8,6% 10,5% 12,4% 9,8% 8,3% 9,2% 10,5% 13,1% 10,5%
GEA Presentation Results Q3 2014 - October 28th, 2014 35
engineering for a better world
Key Figures Time Line (2/6)
Order Intake
[in EUR million]Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14
GEA Food Solutions1) 125,5 - - - - - - - - - - - - - - - - -
GEA Farm Technologies 125,9 129,5 140,3 131,7 527,4 148,1 145,7 147,4 142,6 583,9 138,8 155,7 150,7 151,6 596,7 161,6 169,7 166,4
GEA Mechanical Equipment2) 219,2 332,5 329,5 323,6 1.204,7 336,2 329,0 327,1 355,6 1.347,9 329,7 346,4 357,7 334,4 1.368,2 339,1 329,1 328,7
GEA Process Engineering 401,5 426,2 433,3 449,0 1.709,9 511,3 401,2 468,5 469,2 1.850,2 481,3 570,0 515,2 494,6 2.061,0 366,7 500,9 506,4
GEA Refrigeration Technologies 152,7 162,8 164,8 170,1 650,4 177,9 180,4 200,1 197,8 756,2 177,9 181,2 174,9 192,3 726,3 192,9 204,1 195,0
GEA Group excluding HX 874,3 1.024,8 1.040,6 1.047,0 3.986,7 1.146,0 1.028,6 1.111,6 1.139,2 4.425,4 1.095,1 1.220,0 1.168,3 1.144,4 4.627,9 1.024,3 1.169,9 1.167,9
GEA Heat Exchangers 375,5 445,6 369,8 462,3 1.653,2 406,1 379,0 375,1 349,7 1.509,8 361,9 363,5 348,1 426,8 1.500,3 399,7 350,0 290,2
GEA Group incl. HX 1.242,1 1.462,5 1.402,8 1.502,2 5.609,7 1.544,9 1.401,0 1.477,3 1.477,9 5.901,1 1.447,1 1.574,0 1.509,2 1.562,5 6.092,7 1.415,1 1.510,0 1.449,9
Order Backlog
[in EUR million]Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14
GEA Food Solutions1) 104,4 - - - - - - - - - - - - - - - - -
GEA Farm Technologies 85,4 92,5 93,9 74,4 74,4 104,5 117,3 107,1 79,9 79,9 107,8 120,9 112,2 85,6 85,6 114,3 129,8 120,8
GEA Mechanical Equipment2) 304,1 431,2 445,9 395,2 395,2 446,5 452,9 442,5 438,4 438,4 442,6 446,5 456,8 428,4 428,4 456,3 437,5 421,7
GEA Process Engineering 888,2 927,4 972,2 951,2 951,2 1.082,3 1.104,5 1.142,5 1.069,6 1.069,6 1.164,2 1.269,5 1.334,9 1.290,5 1.290,5 1.267,9 1.304,7 1.370,5
GEA Refrigeration Technologies 210,4 206,6 206,1 197,0 197,0 224,4 245,8 265,4 257,0 257,0 283,6 268,8 253,1 229,5 229,5 272,2 288,1 293,9
GEA Group excluding HX 1.581,2 1.643,7 1.700,9 1.599,2 1.599,2 1.841,1 1.900,9 1.932,4 1.829,9 1.829,9 1.982,6 2.085,3 2.136,2 2.015,5 2.015,5 2.086,7 2.137,2 2.185,4
GEA Heat Exchangers 1.092,5 1.135,4 1.063,5 1.086,0 1.086,0 1.103,2 1.074,1 1.045,5 933,3 933,3 979,3 846,5 799,5 805,1 805,1 878,8 874,8 815,7
GEA Group incl. HX 2.666,6 2.770,6 2.755,7 2.677,3 2.677,3 2.935,6 2.967,4 2.967,8 2.751,6 2.751,6 2.950,0 2.919,1 2.926,5 2.810,9 2.810,9 2.956,6 2.999,5 2.989,3
Sales
[in EUR million]Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14
GEA Food Solutions1) 112,9 - - - - - - - - - - - - - - - - -
GEA Farm Technologies 99,6 118,3 138,1 153,8 509,8 117,8 133,1 157,8 172,3 580,9 110,8 133,8 156,9 176,2 577,7 126,6 154,2 176,4
GEA Mechanical Equipment2) 191,6 311,1 317,0 371,0 1.190,7 269,3 319,2 328,6 349,2 1.266,4 298,1 334,0 336,3 359,3 1.327,8 310,0 340,4 349,2
GEA Process Engineering 300,8 385,1 394,7 496,6 1.577,2 373,2 401,2 423,6 518,3 1.716,3 394,3 435,6 441,3 526,7 1.798,0 390,7 469,1 453,8
GEA Refrigeration Technologies 132,8 166,6 166,2 181,6 647,2 149,5 165,2 177,0 203,1 694,8 152,1 189,2 184,8 210,6 736,6 154,9 189,0 196,4
GEA Group excluding HX 706,7 964,6 980,5 1.176,4 3.828,3 880,5 994,1 1.060,5 1.207,2 4.142,3 924,2 1.064,6 1.089,1 1.242,2 4.320,0 950,7 1.117,7 1.146,0
GEA Heat Exchangers 338,1 390,9 424,2 463,6 1.616,8 389,7 404,3 392,1 422,7 1.608,8 318,1 385,9 380,8 404,2 1.489,1 311,4 355,7 377,5
GEA Group incl. HX 1.038,0 1.349,0 1.397,4 1.632,2 5.416,5 1.263,7 1.391,3 1.445,6 1.619,6 5.720,1 1.232,7 1.441,9 1.459,5 1.638,1 5.772,2 1.253,1 1.466,4 1.514,3
Operating EBITDA
[in EUR million] Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14
GEA Food Solutions1) 6,2 - - - - - - - - - - - - - - - - -
GEA Farm Technologies 5,0 8,4 15,0 16,8 45,2 5,0 11,2 17,8 24,5 58,5 3,1 8,5 17,6 27,8 56,9 6,1 13,1 22,3
GEA Mechanical Equipment2) 32,7 50,9 51,5 69,9 204,9 32,9 47,7 54,9 63,8 199,3 38,6 48,3 56,8 71,0 214,7 42,1 48,4 55,4
GEA Process Engineering 20,0 31,2 38,6 73,4 163,2 20,1 39,4 43,0 75,9 178,4 29,4 45,0 46,3 82,5 203,2 30,2 48,8 49,4
GEA Refrigeration Technologies 8,9 14,5 14,1 22,4 60,0 11,0 13,4 16,0 24,9 65,2 9,6 16,8 17,1 27,5 71,0 12,4 19,9 23,6
GEA Group excluding HX 62,4 100,3 119,8 187,0 469,6 68,0 110,7 132,3 183,5 494,4 72,4 118,4 133,5 205,7 530,1 85,1 128,0 149,0
GEA Heat Exchangers 29,5 35,3 46,9 48,7 160,4 32,6 35,9 37,5 61,5 167,5 26,1 37,6 38,6 55,9 158,2 25,8 32,7 43,7
GEA Group incl. HX 91,9 135,7 166,7 235,7 630,1 100,6 146,6 169,8 245,0 661,9 98,5 156,0 172,1 261,6 688,3 110,6 160,3 192,7
Operating EBITDA - Margin
[in %] Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14
GEA Food Solutions1) 5,5% - - - - - - - - - - - - - - - - -
GEA Farm Technologies 5,0% 7,1% 10,8% 10,9% 8,9% 4,2% 8,5% 11,3% 14,2% 10,1% 2,8% 6,4% 11,2% 15,8% 9,9% 4,8% 8,5% 12,7%
GEA Mechanical Equipment2) 17,1% 16,4% 16,2% 18,8% 17,2% 12,2% 14,9% 16,7% 18,3% 15,7% 12,9% 14,5% 16,9% 19,8% 16,2% 13,6% 14,2% 15,9%
GEA Process Engineering 6,6% 8,1% 9,8% 14,8% 10,3% 5,4% 9,8% 10,1% 14,6% 10,4% 7,5% 10,3% 10,5% 15,7% 11,3% 7,7% 10,4% 10,9%
GEA Refrigeration Technologies 6,7% 8,7% 8,5% 12,4% 9,3% 7,3% 8,1% 9,0% 12,2% 9,4% 6,3% 8,9% 9,3% 13,1% 9,6% 8,0% 10,5% 12,0%
GEA Group excluding HX 8,8% 10,4% 12,2% 15,9% 12,3% 7,7% 11,1% 12,5% 15,2% 11,9% 7,8% 11,1% 12,3% 16,6% 12,3% 9,0% 11,5% 13,0%
GEA Heat Exchangers 8,7% 9,0% 11,1% 10,5% 9,9% 8,4% 8,9% 9,6% 14,5% 10,4% 8,2% 9,7% 10,1% 13,8% 10,6% 8,3% 9,2% 11,6%
GEA Group incl. HX 8,9% 10,1% 11,9% 14,4% 11,6% 8,0% 10,5% 11,7% 15,1% 11,6% 8,0% 10,8% 11,8% 16,0% 11,9% 8,8% 10,9% 12,7%
GEA Presentation Results Q3 2014 - October 28th, 2014 36
engineering for a better world
Key Figures Time Line (3/6)
EBITDA reported
[in EUR million] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) -4,5 7,0 9,4 7,6 19,4 -2,9 4,9 7,0 6,4 15,5 13,5 10,3 5,5 6,8 36,2
GEA Farm Technologies 6,0 13,6 21,3 21,5 62,3 0,8 6,0 10,2 5,9 23,0 3,8 5,7 11,7 13,1 34,3
GEA Mechanical Equipment2) 30,1 32,9 32,8 43,5 139,3 26,7 23,1 26,6 27,1 103,5 24,8 25,3 28,9 45,2 124,1
GEA Process Engineering 12,1 26,1 28,0 47,0 113,2 10,2 14,0 11,2 30,9 66,4 14,7 19,8 22,8 48,1 105,4
GEA Refrigeration Technologies 7,7 11,9 11,7 16,9 48,1 4,0 8,1 3,9 6,6 22,5 3,7 7,5 7,1 2,6 21,0
GEA Group excluding HX 49,8 80,5 85,6 118,5 334,4 38,6 49,0 48,3 51,7 187,6 47,0 57,2 65,4 102,3 271,9
GEA Heat Exchangers 42,6 55,7 65,2 79,8 243,2 35,5 30,7 35,2 59,4 160,8 32,1 23,4 18,7 15,2 89,4
GEA Group incl. HX 94,5 138,6 152,7 200,1 585,9 76,7 82,3 87,9 121,8 368,7 76,8 83,3 86,7 118,9 365,7
Operating EBIT
[in EUR million] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) -8,6 3,4 6,1 4,4 5,3 -8,2 1,5 3,7 3,4 0,4 9,5 7,0 1,6 3,1 21,2
GEA Farm Technologies 4,3 11,9 19,5 19,5 55,2 -1,3 6,0 8,6 7,0 20,3 1,0 3,1 8,8 13,4 26,3
GEA Mechanical Equipment2) 27,2 29,9 29,6 39,7 126,4 23,3 19,4 24,7 32,8 100,2 20,8 22,8 33,6 39,7 117,0
GEA Process Engineering 9,5 23,5 25,2 43,6 101,8 8,0 14,2 18,0 35,5 75,7 11,5 17,2 19,8 44,7 93,2
GEA Refrigeration Technologies 5,9 10,0 9,9 15,4 41,2 2,5 6,6 3,1 8,9 21,1 1,9 6,3 7,3 13,9 29,4
GEA Group excluding HX 40,6 71,0 75,4 107,2 294,1 29,4 43,4 52,4 66,3 191,6 29,9 48,5 65,3 104,1 247,9
GEA Heat Exchangers 36,5 49,3 58,4 72,3 216,6 28,5 29,8 37,0 49,0 144,3 24,5 25,1 29,2 40,0 118,8
GEA Group incl. HX 77,1 120,6 133,6 179,1 510,4 57,9 73,3 89,4 121,4 341,9 54,4 73,6 94,5 144,3 366,8
Operating EBIT - Margin
[in %] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) -9,4% 3,4% 6,2% 4,2% 1,3% -9,2% 1,9% 4,5% 4,1% 0,1% 9,4% 7,0% 1,7% 3,0% 5,3%
GEA Farm Technologies 4,6% 9,6% 14,1% 13,2% 10,9% -1,5% 6,1% 7,6% 6,1% 4,9% 1,2% 2,9% 7,4% 9,9% 5,9%
GEA Mechanical Equipment2) 13,8% 15,7% 14,0% 18,8% 15,6% 11,6% 10,8% 15,1% 18,8% 14,0% 13,3% 13,1% 17,4% 19,7% 16,1%
GEA Process Engineering 2,9% 5,9% 6,9% 10,9% 6,8% 3,0% 5,0% 6,5% 11,3% 6,6% 4,5% 5,8% 6,0% 11,1% 7,2%
GEA Refrigeration Technologies 4,5% 6,3% 6,9% 8,7% 6,8% 2,0% 4,8% 2,1% 5,6% 3,7% 1,6% 4,6% 5,3% 8,1% 5,2%
GEA Group excluding HX 5,5% 8,3% 8,9% 11,7% 8,8% 4,4% 6,3% 7,5% 8,8% 6,8% 5,0% 6,9% 8,5% 11,7% 8,4%
GEA Heat Exchangers 9,2% 11,0% 12,1% 13,7% 11,7% 7,4% 7,1% 9,9% 11,1% 8,9% 7,2% 6,8% 8,1% 9,8% 8,0%
GEA Group incl. HX 6,8% 9,3% 10,1% 12,5% 9,9% 5,5% 6,6% 8,4% 10,2% 7,8% 5,8% 6,9% 8,4% 11,2% 8,3%
EBIT reported
[in EUR million] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) -8,6 3,4 6,1 4,4 5,3 -8,2 1,5 3,7 3,4 0,4 9,5 7,0 1,6 3,1 21,2
GEA Farm Technologies 4,1 11,6 18,8 18,8 53,4 -1,6 3,6 7,4 3,1 12,4 0,5 2,2 8,1 9,2 20,0
GEA Mechanical Equipment2) 27,0 29,7 29,4 39,5 125,6 23,0 19,1 22,7 22,7 87,6 20,5 21,0 24,6 37,6 103,8
GEA Process Engineering 9,2 23,1 24,8 43,1 100,2 6,7 10,4 7,8 27,4 52,3 11,1 16,1 19,1 43,9 90,2
GEA Refrigeration Technologies 5,9 9,8 9,7 15,2 40,7 1,8 5,9 1,7 3,9 13,3 1,5 5,3 5,0 0,4 12,2
GEA Group excluding HX 37,6 67,7 71,7 103,5 280,5 24,0 33,7 33,0 33,4 124,2 30,5 40,4 49,3 82,0 202,2
GEA Heat Exchangers 36,4 49,1 58,1 71,8 215,4 27,2 21,8 26,0 48,8 123,8 22,8 13,4 8,9 -15,2 29,9
GEA Group incl. HX 76,1 119,3 131,8 177,1 504,2 53,8 58,1 63,5 92,8 268,2 51,0 56,4 60,8 68,2 236,5
GEA Presentation Results Q3 2014 - October 28th, 2014 37
engineering for a better world
Key Figures Time Line (4/6)
38
EBITDA reported
[in EUR million] Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14
GEA Food Solutions1) 6,2 - - - - - - - - - - - - - - - - -
GEA Farm Technologies 5,0 8,4 15,0 16,8 45,2 5,0 11,2 17,8 24,2 58,2 2,8 8,5 17,6 27,8 56,7 6,1 13,1 19,8
GEA Mechanical Equipment2) 32,7 31,4 52,1 69,9 186,1 -3,0 43,5 48,3 46,1 134,9 38,6 48,3 56,8 71,0 214,7 42,1 48,4 53,6
GEA Process Engineering 20,0 31,2 38,6 73,4 163,2 20,1 39,4 42,7 75,9 178,1 29,4 45,0 46,3 82,5 203,2 30,2 48,8 49,3
GEA Refrigeration Technologies 8,9 14,3 14,1 21,7 59,0 11,0 13,4 16,0 24,9 65,2 9,6 16,8 17,1 27,5 71,0 12,4 19,9 21,6
GEA Group excluding HX 59,9 78,1 117,9 184,4 440,3 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
GEA Heat Exchangers 29,5 35,3 46,9 48,6 160,3 32,6 35,9 37,5 61,5 167,5 26,0 36,3 38,4 54,5 155,2 25,8 32,7 42,2
GEA Group incl. HX 91,9 116,0 167,4 234,9 610,2 64,7 142,4 162,9 226,9 597,0 98,1 152,4 168,9 240,5 659,8 106,7 151,5 180,0
Operating EBIT
[in EUR million] Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14
GEA Food Solutions1) 2,8 - - - - - - - - - - - - - - - - -
GEA Farm Technologies 2,1 5,6 12,1 14,0 33,8 1,9 8,2 14,7 21,5 46,3 0,1 5,5 14,4 24,5 44,6 3,1 10,0 19,3
GEA Mechanical Equipment2) 28,6 44,4 44,8 64,0 181,7 26,8 42,6 49,1 57,0 175,5 32,7 42,0 50,1 62,8 187,6 34,5 40,8 47,6
GEA Process Engineering 16,5 27,6 34,6 69,4 148,2 16,6 35,8 39,1 71,3 162,7 25,7 41,2 42,4 79,0 188,3 26,6 45,0 45,6
GEA Refrigeration Technologies 7,1 12,3 11,9 20,1 51,3 8,7 11,1 13,8 22,6 56,2 7,3 14,3 14,7 25,2 61,5 10,0 17,4 21,1
GEA Group excluding HX 48,2 83,2 101,9 169,3 402,6 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
GEA Heat Exchangers 20,8 26,5 37,9 36,7 121,8 24,0 27,6 31,3 52,1 135,0 17,8 29,0 30,0 46,5 123,3 17,6 24,4 35,1
GEA Group incl. HX 69,0 109,7 139,8 206,1 524,6 74,7 122,5 146,7 216,8 560,8 73,2 129,9 145,6 233,3 582,1 84,1 133,3 165,3
Operating EBIT - Margin
[in %] Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14
GEA Food Solutions1) 2,5% - - - - - - - - - - - - - - - - -
GEA Farm Technologies 2,1% 4,7% 8,7% 9,1% 6,6% 1,6% 6,2% 9,3% 12,5% 8,0% 0,1% 4,1% 9,2% 13,9% 7,7% 2,4% 6,5% 10,9%
GEA Mechanical Equipment2) 14,9% 14,3% 14,1% 17,2% 15,3% 9,9% 13,3% 15,0% 16,3% 13,9% 11,0% 12,6% 14,9% 17,5% 14,1% 11,1% 12,0% 13,6%
GEA Process Engineering 5,5% 7,2% 8,8% 14,0% 9,4% 4,4% 8,9% 9,2% 13,8% 9,5% 6,5% 9,5% 9,6% 15,0% 10,5% 6,8% 9,6% 10,1%
GEA Refrigeration Technologies 5,3% 7,4% 7,2% 11,0% 7,9% 5,8% 6,7% 7,8% 11,1% 8,1% 4,8% 7,6% 8,0% 12,0% 8,4% 6,4% 9,2% 10,7%
GEA Group excluding HX 6,8% 8,6% 10,4% 14,4% 10,5% 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%
GEA Heat Exchangers 6,1% 6,8% 8,9% 7,9% 7,5% 6,2% 6,8% 8,0% 12,3% 8,4% 5,6% 7,5% 7,9% 11,5% 8,3% 5,7% 6,9% 9,3%
GEA Group incl. HX 6,6% 8,1% 10,0% 12,6% 9,7% 5,9% 8,8% 10,1% 13,4% 9,8% 5,9% 9,0% 10,0% 14,2% 10,1% 6,7% 9,1% 10,9%
EBIT reported
[in EUR million] Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14
GEA Food Solutions1) 2,8 - - - - - - - - - - - - - - - - -
GEA Farm Technologies 1,5 5,0 11,4 13,2 31,1 1,2 7,5 13,9 20,3 42,9 -0,9 4,8 13,7 23,7 41,2 2,3 9,3 16,0
GEA Mechanical Equipment2) 28,4 17,6 38,9 60,3 145,2 -12,8 34,5 38,5 21,8 82,1 28,7 38,1 46,1 58,8 171,7 30,5 37,0 41,9
GEA Process Engineering 16,1 27,2 34,1 68,8 146,1 15,9 35,0 38,1 70,8 159,8 25,0 40,6 41,8 78,3 185,7 26,0 44,3 44,9
GEA Refrigeration Technologies 6,8 10,6 11,1 18,0 46,6 8,2 10,6 13,3 22,0 54,0 6,8 13,8 14,2 24,2 59,0 9,4 16,8 18,6
GEA Group excluding HX 44,0 51,1 91,6 160,2 347,0 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
GEA Heat Exchangers 20,2 25,7 37,2 35,0 118,0 23,4 27,0 30,7 49,2 130,3 17,1 27,1 29,3 42,4 116,0 17,0 23,8 10,6
GEA Group incl. HX 66,8 79,3 131,3 197,2 474,6 32,6 111,7 133,1 176,5 453,9 66,2 119,7 135,8 203,2 525,0 73,6 118,2 123,8
GEA Presentation Results Q3 2014 - October 28th, 2014
engineering for a better world
Key Figures Time Line (5/6)
Capital Employed w/o goodwill3) (average LTM)
[in EUR million]Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) 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 Farm Technologies n.a. n.a. n.a. 204,0 204,0 219,7 235,5 241,7 241,4 241,4 250,5 260,9 271,3 284,0 284,0
GEA Mechanical Equipment2) n.a. n.a. n.a. 349,8 349,8 364,3 371,3 374,2 367,7 367,7 346,5 327,9 309,9 300,7 300,7
GEA Process Engineering n.a. n.a. n.a. 270,6 270,6 274,2 276,2 269,7 255,1 255,1 241,1 235,7 237,8 238,9 238,9
GEA Refrigeration Technologies n.a. n.a. n.a. 221,1 221,1 236,8 249,9 258,6 258,7 258,7 244,9 226,6 202,4 177,9 177,9
GEA Group excluding HX n.a. n.a. n.a. 1.063,4 1.063,4 1.097,4 1.117,9 1.113,4 1.094,3 1.094,3 1.078,4 1.071,0 1.066,0 1.069,5 1.069,5
GEA Heat Exchangers n.a. n.a. n.a. 707,3 707,3 757,2 789,7 793,4 752,0 752,0 711,8 687,1 677,7 672,8 672,8
GEA Group incl. HX n.a. n.a. n.a. 1.772,4 1.772,4 1.853,4 1.903,4 1.899,0 1.835,9 1.835,9 1.780,9 1.750,3 1.738,4 1.739,9 1.739,9
ROCE w/o goodwill4) LTM
[in%]Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010
GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
GEA Farm Technologies n.a. n.a. n.a. 26,2% 26,2% 21,7% 16,8% 11,6% 5,1% 5,1% 5,8% 5,0% 5,1% 7,1% 7,1%
GEA Mechanical Equipment2) n.a. n.a. n.a. 35,9% 35,9% 33,4% 29,9% 27,9% 23,8% 23,8% 24,5% 26,5% 28,7% 34,5% 34,5%
GEA Process Engineering n.a. n.a. n.a. 37,0% 37,0% 35,7% 30,8% 25,2% 20,5% 20,5% 23,5% 26,4% 31,0% 37,7% 37,7%
GEA Refrigeration Technologies n.a. n.a. n.a. 18,4% 18,4% 15,5% 13,1% 9,5% 5,1% 5,1% 5,3% 5,5% 7,8% 6,9% 6,9%
GEA Group excluding HX n.a. n.a. n.a. 26,4% 26,4% 24,3% 20,8% 17,4% 11,3% 11,3% 12,1% 12,8% 14,4% 18,9% 18,9%
GEA Heat Exchangers n.a. n.a. n.a. 30,5% 30,5% 27,2% 22,7% 18,5% 16,5% 16,5% 16,8% 16,2% 13,8% 4,4% 4,4%
GEA Group incl. HX n.a. n.a. n.a. 28,4% 28,4% 26,0% 22,1% 18,6% 14,6% 14,6% 14,9% 15,1% 15,0% 13,6% 13,6%
Capital Employed w/o goodwill3) (average LTM)
[in EUR million]Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14
GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. - - - - - - - - - - - - -
GEA Farm Technologies 288,6 289,7 292,5 297,7 297,7 302,1 308,2 314,8 319,3 319,3 324,7 327,9 327,4 325,4 325,4 322,4 321,2 323,7
GEA Mechanical Equipment2) 303,6 481,6 625,8 770,7 770,7 874,7 903,6 929,1 949,5 949,5 966,9 972,6 977,2 985,9 985,9 999,0 1.012,7 1.023,2
GEA Process Engineering 237,4 235,8 238,7 249,0 249,0 273,3 290,0 296,7 286,0 286,0 270,8 262,2 253,5 253,9 253,9 249,4 248,8 253,2
GEA Refrigeration Technologies 176,5 187,8 205,4 225,9 225,9 241,8 249,0 253,6 254,7 254,7 255,6 256,1 257,3 259,5 259,5 259,1 261,1 263,4
GEA Group excluding HX 1.117,9 1.266,4 1.436,7 1.619,6 1.619,6 1.771,9 1.830,3 1.872,7 1.887,4 1.887,4 1.890,1 1.890,6 1.886,5 1.895,0 1.895,0 1.900,4 1.912,0 1.929,0
GEA Heat Exchangers 680,7 684,2 691,6 694,6 694,6 690,5 688,2 675,9 669,9 669,9 658,2 646,6 641,2 634,7 634,7 639,8 644,3 648,7
GEA Group incl. HX 1.796,3 1.949,7 2.128,3 2.314,2 2.314,2 2.462,7 2.518,1 2.548,2 2.556,5 2.556,5 2.546,1 2.534,0 2.523,5 2.525,5 2.525,5 2.536,5 2.553,6 2.576,1
ROCE w/o goodwill4) LTM
[in%]Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14
GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. - - - - - - - - - - - - -
GEA Farm Technologies 7,3% 8,3% 9,3% 10,4% 10,4% 10,2% 10,8% 11,3% 13,4% 13,4% 12,6% 11,6% 11,5% 12,7% 12,7% 13,8% 15,2% 15,8%
GEA Mechanical Equipment2) 36,8% 22,5% 19,6% 18,8% 18,8% 11,9% 13,4% 13,0% 8,6% 8,6% 12,8% 13,1% 13,8% 17,4% 17,4% 17,4% 17,0% 16,5%
GEA Process Engineering 40,1% 45,1% 50,8% 58,7% 58,7% 53,4% 53,0% 53,2% 55,9% 55,9% 62,4% 66,6% 70,3% 73,2% 73,2% 74,6% 76,5% 76,4%
GEA Refrigeration Technologies 9,9% 12,2% 14,1% 20,6% 20,6% 19,8% 19,2% 19,7% 21,2% 21,2% 20,6% 21,8% 22,1% 22,7% 22,7% 23,8% 24,8% 26,2%
GEA Group excluding HX 19,3% 17,9% 18,7% 21,4% 21,4% 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%
GEA Heat Exchangers 4,0% 5,8% 9,8% 17,0% 17,0% 17,6% 17,8% 17,2% 19,4% 19,4% 18,8% 19,2% 19,1% 18,3% 18,3% 18,1% 17,5% 14,5%
GEA Group incl. HX 14,0% 14,1% 16,2% 20,5% 20,5% 17,9% 18,8% 18,6% 17,8% 17,8% 19,2% 19,6% 19,7% 20,8% 20,8% 21,0% 20,8% 20,1%
GEA Presentation Results Q3 2014 - October 28th, 2014 39
engineering for a better world
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).
GEA Presentation Results Q3 2014 - October 28th, 2014 40
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