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Conference Call Results Q2 2015 Düsseldorf, July 29th, 2015

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  • Conference Call Results Q2 2015

    Dsseldorf, July 29th, 2015

  • 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 Q2 2015 - July 29th, 2015 2

  • engineering for a better world

    Executive Summary Q2 2015

    GEA Presentation Results Q2 2015 - July 29th, 2015 3

    Order

    Intake (EURm)

    1,149

    Sales

    (EURm)

    1,150

    Operating

    EBITDA (EURm)

    139.3

    Operating

    EBIT (EURm)

    119.8

    Op. ROCE1

    26.7%

    Operating CFD

    Margin

    10.5%

    D -2% YoY D +3% YoY D +9% YoY D +10% YoY D +168 bps

    YoY

    D +121 bps

    YoY

    Structural change:

    +0.5% YoY

    FX translation:

    +6.6% YoY

    Structural change:

    +0.5% YoY

    FX translation:

    +6.5% YoY

    Record margin

    for Q2 of

    12.1%

    Record margin

    for Q2 of

    10.4%

    Key Highlights Q2 2015:

    1 Operating ROCE LTM = operating EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)

  • engineering for a better world

    Key figures and change YoY Q2 2015

    4 GEA Presentation Results Q2 2015 - July 29th, 2015

    Operating EBIT

    652 629

    570 573

    Q2 2014 Q2 2015

    Operating EBIT Margin

    Sales Order Intake

    1,149 1,170

    GEA Solutions

    GEA Equipment

    adjusted1: -9%

    D -2%

    D -4%

    D +1%

    Q2 2014 Q2 2015 D YoY

    GEA Equipment 10.5% 12.2% +167 bps

    GEA Solutions 8.8% 8.7 % -12 bps

    GEA Group 9.8% 10.4% +63 bps

    [EURm] [EURm]

    603 613

    565 588

    Q2 2014 Q2 2015

    1,150 1,118

    GEA Solutions

    GEA Equipment

    adjusted1: -4%

    D +3%

    D +2%

    D +4%

    [EURm]

    53 53

    59 72

    Q2 2014 Q2 2015

    120 109

    GEA Solutions

    GEA Equipment

    D +10%

    D 0%

    D +20%

    [EURm]

    1 Adjusted = before currency translation and structural effects

  • engineering for a better world

    9.3%

    11.0%

    12.0% 11.9%

    12.6%

    13.4%

    7.2%

    9.0%

    10.3% 10.3%

    10.9%

    11.6%

    6%

    7%

    8%

    9%

    10%

    11%

    12%

    13%

    2,000

    3,000

    4,000

    5,000

    6,000

    Q210

    Q310

    Q410

    Q111

    Q211

    Q311

    Q411

    Q112

    Q212

    Q312

    Q412

    Q113

    Q213

    Q313

    Q413

    Q114

    Q214

    Q314

    Q414

    Q115

    Q215

    Order Intake Sales Operating EBITDA Margin Operating EBIT Margin

    Development LTM: Order Intake, Sales, Operating Margins

    5

    [EURm]

    GEA Presentation Results Q2 2015 - July 29th, 2015

    Operating EBIT Margin at record 11.6% as of Q2 2015 LTM

  • engineering for a better world

    Order intake -2% YoY but +2% QoQ

    6 GEA Presentation Results Q2 2015 - July 29th, 2015

    [EURm]

    619 705 686 669

    737 711 702 745 710 722 724 747 754 773 765

    835 791 791

    168

    185 166 208

    214 172

    221 175 144

    234 167

    211 160 170 174

    182 163 190 135

    135 128 111

    96 102

    124 107 131

    102 132

    67 88

    103 68

    87 91

    112 60 58

    100

    44 65 112

    110

    162 144 121

    22

    123 160

    54 83

    55

    0

    200

    400

    600

    800

    1,000

    1,200

    1,400

    Q2 11(excl.FS)

    Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15

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

    1,400

    1,200

    1,000

    f L4Q:

    796 f L4Q:

    749 f L4Q:

    719

    Order Intake Development by size since Q2 2011

  • engineering for a better world

    Regional Sales Split as of Q2 2015 LTM:

    GEA Presentation Results Q2 2015 - July 29th, 2015

    North America

    D YoY adj.: +3%

    18%

    7

    Eastern Europe

    & CIS

    8%

    D YoY adj.: +2%

    Western Europe

    36%

    D YoY adj.: +5%

    Latin America

    D YoY adj.: -3%

    6%

    Africa

    D YoY adj.: +13%

    4%

    Middle East

    D YoY adj.: -22%

    3%

    Asia-Pacific

    D YoY adj.: -2%

    25%

    Emerging Markets1

    36%

    D YoY adj.: -4%

    Top-3-Countries

    USA: 17% (15%)

    D YoY adj.: +2%

    China: 10% (10%)

    D YoY adj.: -1%

    Germany: 10% (9%)

    D YoY adj.: +10%

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

    Note: adjusted = before currency translation and structural effects

  • engineering for a better world

    Sales by Customer Industry LTM: Good growth from dairy sector

    GEA Presentation Results Q2 2015 - July 29th, 2015 8

    Average last four quarters: Q1 Q4 2009 = Index 100 Note: Adjusted growth rates per customer industry are only available since Q1 2011

    14% (14%)

    24% (23%)

    22% (22%)

    12% (14%)

    12% (12%)

    16% (15%)

    Sales LTM

    as of Q2 2015:

    EUR 4,604m

    +1% adj. YoY

    Dairy Farming

    D +6% adj. YoY

    Food

    D +2% adj. YoY

    Beverages

    D -16% adj. YoY

    Other Industries

    D +6% adj. YoY

    Pharma/

    Chemical

    D -3% adj. YoY Dairy Processing

    D +6% adj. YoY

    60%

    100%

    140%

    180%

    220%

    Dairy Farming Dairy Processing GEA Group

    60%

    100%

    140%

    180%

    220%

    Food Beverages GEA Group

    Adjusted Sales CAGR 10-14: +15%

    Adjusted Sales CAGR 10-14: +9%

    Adjusted Sales CAGR 10-14: +4%

    Adjusted Sales CAGR 10-14: +3%

    60%

    100%

    140%

    180%

    220%

    Q409

    Q110

    Q210

    Q310

    Q410

    Q111

    Q211

    Q311

    Q411

    Q112

    Q212

    Q312

    Q412

    Q113

    Q213

    Q313

    Q413

    Q114

    Q214

    Q314

    Q414

    Q115

    Q215

    Pharma/Chemical Other Industries GEA Group

    Adjusted Sales CAGR 10-14: +7% Adjusted Sales CAGR 10-14: +5%

    GEA Group Adjusted Sales CAGR 09-14: +6%

    Note: adjusted = before currency translation and structural effects

  • engineering for a better world

    0.8 and < 1.0 >= 1.2 > 1.0 and < 1.2

    Colour code: Only cross-sections with a share of > 1% of group order intake are colored

    Book to Bill categories

    BtB % of OI BtB % of OI BtB % of OI BtB % of OI BtB % of OI BtB % of OI BtB % of OI BtB % of OI

    Book to Bill Ratio > 1 in Pharma/Chemical driven by strong West European business

    GEA Presentation Results Q2 2015 - July 29th, 2015 9

    Book to bill ratio (L4Q)

    Q2 2015

    Dairy Farming 1.00 5.1% 0.90 1.0% 1.00 5.3% 0.99 1.0% 0.34 0.0% 0.83 0.0% 1.14 1.8% 1.00 14.3%

    Dairy Processing 0.83 7.8% 1.50 2.3% 0.66 1.9% 0.78 1.3% 0.70 0.5% 1.72 1.3% 1.08 7.9% 0.95 23.0%

    Food 1.02 9.5% 0.90 2.0% 1.04 3.8% 1.00 1.2% 0.91 1.4% 0.90 0.8% 0.95 3.2% 0.99 21.8%

    Beverages 0.94 3.3% 1.05 1.4% 0.97 1.5% 1.16 0.9% 0.73 0.6% 0.60 0.2% 1.38 4.5% 1.07 12.4%

    Food & Beverages 0.94 25.7% 1.08 6.6% 0.93 12.5% 0.95 4.5% 0.82 2.6% 1.18 2.2% 1.12 17.4% 0.99 71.5%

    Pharma 1.35 3.2% 1.92 0.6% 1.04 1.1% 0.93 0.4% 2.24 0.1% 0.59 0.2% 0.93 2.2% 1.13 7.7%

    Chemical 1.20 1.5% 0.92 0.1% 0.83 1.0% 0.82 0.2% 2.90 0.3% 2.75 0.4% 0.98 2.0% 1.08 5.5%

    Pharma/Chemical 1.30 4.7% 1.59 0.7% 0.93 2.2% 0.90 0.6% 2.76 0.4% 1.34 0.6% 0.95 4.1% 1.11 13.2%

    Environment 1.03 1.6% 1.42 0.4% 1.13 0.8% 1.57 0.3% 1.16 0.1% 0.92 0.1% 1.03 1.2% 1.10 4.5%

    Oil & Gas 0.62 0.5% 1.07 0.7% 1.16 0.9% 0.71 0.0% 0.33 0.0% 1.42 0.3% 0.45 0.5% 0.81 2.9%

    Marine 0.95 1.4% 0.99 0.1% 1.13 0.2% 0.67 0.1% 1.00 0.0% 1.77 0.1% 0.87 1.2% 0.93 3.0%

    Power 0.40 0.1% 1.70 0.1% 0.40 0.1% 0.95 0.1% 0.90 0.1% 1.21 0.4% 1.13 0.1% 0.83 1.0%

    Others 1.03 1.4% 0.93 0.4% 0.95 0.3% 0.99 0.2% 0.95 0.0% 1.15 0.2% 1.07 1.4% 1.03 3.8%

    Other Industries 0.92 4.9% 1.12 1.6% 1.05 2.3% 1.09 0.7% 0.83 0.3% 1.25 1.0% 0.88 4.4% 0.96 15.3%

    Total 0.97 35.3% 1.12 8.9% 0.94 17.0% 0.96 5.7% 0.89 3.2% 1.22 3.8% 1.04 26.0% 1.00 100.0%

    Western

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

  • engineering for a better world

    Order Backlog: Continues to increase

    10 GEA Presentation Results Q2 2015 - July 29th, 2015

    1,200 1,350 1,300 1,350

    701

    735 837 845

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

    [EURm]

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

    2,087

    1,901 1,932 1,830

    2,136 2,015

    2,085 1,983

    2,137 2,185

    2,038

    2,256

    LTM BtB ratio #

    2,195

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

  • engineering for a better world

    ROCE Development: tends to improve before one-offs

    11 GEA Presentation Results Q2 2015 - July 29th, 2015

    Note: ROCE LTM = EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)

    Op. ROCE LTM = op. EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)

    [EURm]

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

    2,007

    18.6% 18.6%

    16.7%

    18.8% 19.3% 19.6%

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

    16.4%

    24.7% 25.0% 25.6%

    26.4% 26.6% 26.7%

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

    Capital Employed (average LTM) ROCE (average LTM) op. ROCE (average LTM)

  • engineering for a better world

    Working Capital to sales ratio around 12%

    12 GEA Presentation Results Q2 2015 - July 29th, 2015

    [EURm]

    449 460

    395

    523 521 511

    356

    515 521 538

    363

    535

    590 548

    424

    588 583

    11.0% 11.3% 11.4% 12.1%

    12.8% 12.9% 12.7% 12.2% 11.9% 11.7% 11.7% 11.8% 11.9%

    12.1% 12.1% 12.2% 12.3%

    Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15

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

  • engineering for a better world

    Cash Flow Driver Margin: slight improvement before one-offs

    13 GEA Presentation Results Q2 2015 - July 29th, 2015

    -147 -132 -88

    -26 10 33 19 -1 -19 -38 -41 -47 -43

    436 441 420 462 471

    478 515 527 536 546 540 550 433

    -116 -120 -125

    -126 -126 -124 -120 -122 -123 -114 -94 -92 -87

    4.3% 4.6% 5.0%

    7.4% 8.3%

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

    6.6%

    9.7% 9.3% 9.3% 10.1% 10.2% 10.5%

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

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

    EBITDA Capex D Working Capital (Average LTM)

    Sales Sales Sales - - +

    [EURm]

    1 Operating Cash Flow Driver Margin is based on operating EBITDA, not on reported EBITDA

    1

  • engineering for a better world

    Net Liquidity reconciliation

    [EURm]

    -134.7

    -130.7

    -27.2

    -115.9

    -86.9

    -91.6

    603.4

    -134.1

    -643.4

    -551.8

    Net Cash 30.06.2015

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

    Dividend

    Effects from Acquisitions

    Net Debt 30.06.2014 incl. HX

    Capex

    Taxes / Interests

    256.1

    433.3

    Others (therein EUR 91.3m translation impact)

    Net Debt 30.06.2014 w/o HX

    Discontinued Operations (w/o HX)

    EBITDA

    Net Debt bef. DOP, M&A and Dividend

    22.7

    Elimination Net Cash Position HX

    Delta Working Capital

    Cash generation LTM: ~ EUR 418m

    GEA Presentation Results Q2 2015 - July 29th, 2015 14

    D +EUR 418m excl.

    EUR 91.3m

    translation impact

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

    1

  • engineering for a better world

    Service Business as of Q2 2015 LTM: 28% of Sales

    15

    Sales growth YoY of +10.7% (+6.3% adjusted)

    [EURm]

    1,172

    761

    425

    1,297

    861

    484

    GEA Group GEA Equipment GEA Solutions

    D +11%

    (+6% adjusted)

    D +13%

    (+9% adjusted)

    D +14%

    (+10% adjusted)

    27% 28% 34% 36% 18% 20%

    Q2 2014 LTM Q2 2015 LTM Share of Service Sales %

    GEA Presentation Results Q2 2015 - July 29th, 2015

    Note: adjusted = before currency translation and structural effects

  • engineering for a better world

    Fit for 2020 continues to proceed on track

    16 GEA Presentation Results Q2 2015 - July 29th, 2015

    Thousands of customers appreciated information pointing out why more is in it for them in the new set-up

    Go-live of new organizational architecture happened in early June 2015

    Front-loaded implementation: one-off charges of about 134m in Q2

    Downsizing has started

  • engineering for a better world

    Provided that there is no decline in global economic growth and a constant currency

    basis compared to FY 2014, and without taking into account the impact of acquisitions

    and one-off effects, we are aiming in FY 2015 for:

    2015 EBITDA guidance to take Fit for 2020 savings into account / other elements confirmed

    GEA Presentation Results Q2 2015 - July 29th, 2015 17

    Sales

    moderate organic

    growth

    Operating EBITDA (EURm)

    580 620 (before Fit for 2020)

    Cash Flow Driver Margin

    9.0% - 9.5%

    Savings Fit for 2020 (EURm)

    10 - 20

    Operating EBITDA (EURm)

    590 640 (new target 2015)

  • engineering for a better world

    Additional Financial Information for FY 2015

    GEA Presentation Results Q2 2015 - July 29th, 2015 18

    Depreciation

    & Amortization

    (incl PPA) (EURm)

    around

    90

    Thereof

    impact from

    PPA in 2015

    and in

    subsequent

    years (EURm)

    around

    23 p.a.

    Interests

    Financial

    Liabilities (EURm)

    below

    17

    Dividend Policy

    Payout ratio

    40-50% of net income

    DPS not to be

    affected by Fit for 2020 charges

    Working

    Capital LTM

    (of sales

    LTM)

    around

    12%

    Target Capex

    Level

    (of sales)

    max.

    2%

    Tax Rate

    around

    22%

  • engineering for a better world

    Financial Targets

    FY 2014 - 2020

    CAGR Organic Sales Growth FY 2014 - FY 2020: 4% to 6%

    FY 2017 - 2020

    Service to Sales Ratio: ~30%

    Operating EBIT Margin: 13% to 16%

    Working Capital to Sales Ratio: 10% to 12%

    Capex to Sales Ratio: 1.5% to 2.0%

    Cash Flow Driver Margin: 12% to 15%

    ROCE: 20% to 25%

    Net Effective Tax Rate: 24%

    GEA Presentation Results Q2 2015 - July 29th, 2015 19

  • engineering for a better world

    Aug 14, 2015 Roadshow Canada Montreal Baader-Helvea

    Aug 13, 2015 Roadshow USA Boston Berenberg

    Aug 18, 2015 Roadshow Poland Warsaw Erste Bank

    Investor Relations Calendar Upcoming Roadshows and Conferences

    Aug 25, 2015 Conference Finland Helsinki Deutsche Bank

    2 0 1 5

    GEA Presentation Results Q2 2015 - July 29th, 2015 20

    Aug 11 - 12, 2015 Conference USA NYC Jefferies

    July 30 - 31, 2015 Roadshow UK London HSBC

  • engineering for a better world

    Sept 08, 2015 Conference UK London Credit Suisse

    Sept 02, 2015 Roadshow Copenhagen Denmark Danske Bank

    Sept 09, 2015 Roadshow France Paris Exane

    Sept 10 - 11, 2015 Conference UK London Morgan Stanley

    Investor Relations Calendar Upcoming Roadshows and Conferences

    Sept 10, 2015 Investor Days BeNeLux Amsterdam UBS

    2 0 1 5

    GEA Presentation Results Q2 2015 - July 29th, 2015 21

  • engineering for a better world

    Sept 17, 2015 Conference Germany Frankfurt equinet

    Sept 29, 2015 Conference UK London Bernstein

    Sept 22 - 23, 2015 Conference Germany Munich Baader Bank

    Sept 30, 2015 Roadshow Scotland Edinburgh Kepler

    Oct 01, 2015 Investor Forum Italy Milan J.P. Morgan

    Investor Relations Calendar Upcoming Roadshows and Conferences

    Sept 30, 2015 Roadshow Germany Frankfurt Commerzbank

    2 0 1 5

    GEA Presentation Results Q2 2015 - July 29th, 2015 22

  • engineering for a better world

    Financial Calendar

    2 0 1 5

    GEA Presentation Results Q2 2015 - July 29th, 2015 23

    Oct 28, 2015 Interim Report Q3 2015 Dsseldorf

  • engineering for a better world

    Order Intake Development by Size

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

    835 791 791

    168 185 166 208

    214 172 221 175 144 234 167 211 160 170 174

    182 163 190 135 135 128 111

    96 102 124 107 131

    102 132 67 88 103 68 87

    91 112 60 58

    100 44

    65 112

    110 162 144 121 22 123 160

    54 83 55

    0

    200

    400

    600

    800

    1000

    1200

    1400

    Q211

    Q2112

    Q311

    Q411

    Q112

    Q212

    Q312

    Q412

    Q113

    Q213

    Q313

    Q413

    Q114

    Q214

    Q314

    Q414

    Q115

    Q215

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

    9.0%

    10.3% 10.3% 10.9%

    11.6%

    0%

    2%

    4%

    6%

    8%

    10%

    12%

    0

    1000

    2000

    3000

    4000

    5000

    Q211

    Q311

    Q411

    Q112

    Q212

    Q312

    Q412

    Q113

    Q213

    Q313

    Q413

    Q114

    Q214

    Q314

    Q414

    Q115

    Q215

    Order Intake Sales Operating EBIT Margin

    Sales by Customer

    Industry

    36%

    25%

    18%

    8%

    6% 3% 4%

    Western Europe

    Asia-Pacific

    North America

    Eastern Europe&CIS

    Latin America

    Middle East

    Africa

    14%

    24%

    22%

    12%

    12%

    16%

    Dairy Farming

    Dairy Processing

    Food

    Beverages

    Pharma/Chemical

    Other Industries

    [in EUR million] Q2 2014 Q2 2015 YoY Q1-Q2

    2014

    Q1-Q2

    2015 YoY

    Order Intake

    adjusted1 1,169.9 1,148.8

    -1.8%

    -8.9% 2,194.2 2,276.2

    +3.7%

    -2.6%

    Sales

    adjusted1 1,117.7 1,150.1

    +2.9%

    -4.1% 2,068.3 2,156.5

    +4.3%

    -2.7%

    Order Backlog 2,137.2 2,195.5 +2.7% 2,137.2 2,195.5 +2.7%

    Operating EBITDA 128.0 139.3 +8.8% 213.2 237.4 +11.4%

    Operating EBITDA-

    Margin 11.5% 12.1% +65 bps 10.3% 11.0% +70 bps

    Operating EBIT 109.3 119.8 +9.6% 176.1 198.6 +12.7%

    Operating EBIT-Margin 9.8% 10.4% +63 bps 8.5% 9.2% +69 bps

    Operating ROCE

    (LTM)2 25.0% 26.7% +168 bps 25.0% 26.7% +168 bps

    Order Intake, Sales, and Operating

    EBIT Margin (LTM)

    GEA Group

    25 GEA Presentation Results Q2 2015 - July 29th, 2015

    [EURm] [EURm]

    LTM as of

    Q2 2015:

    EUR 4,604m

    +1% adj. YoY

    LTM as of

    Q2 2015:

    EUR 4,604m

    +1% adj. YoY

    +9% / +6% adj.

    -12% / -16% adj.

    +5% / +2% adj.

    +11% / +6% adj.

    +10% / +6% adj.

    YoY

    -21% / -22% adj.

    -2% / +2% adj. +14% / +3% adj. +3% / -2% adj. +7% / +5% adj.

    YoY -2% / -3% adj.

    +14% / +13% adj.

    +2% / -3% adj.

    Sales by Region

    1Adjusted = before currency translation and structural effects 2 Operating ROCE (LTM) = op. EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)

    3,000

    4,000

    5,000

    2,000

    1,000

    1,000

    1,200

    1,400

    w/o FS Incl.FS

  • engineering for a better world

    Sales by Customer

    Industry [in EUR million] Q2 2014 Q2 2015 YoY

    Q1-Q2

    2014

    Q1-Q4

    2015 YoY

    Order Intake

    adjusted1 569.7 573.0

    +0.6%

    -6.0% 1,144.7 1,159.6

    +1.3%

    -4.9%

    Sales

    adjusted1 565.4 587.9

    +4.0%

    -2.5% 1,060.8 1,114.8

    +5.1%

    -1.1%

    Order Backlog 624.1 581.4 -6.9% 624.1 581.4 -6.9%

    Operating EBITDA 71.7 84.5 +17.7% 128.0 151.8 +18.7%

    Operating EBITDA-

    Margin 12.7% 14.4% +168 bps 12.1% 13.6% +156 bps

    Operating EBIT 59.3 71.5 +20.5% 103.4 125.8 +21.7%

    Operating EBIT-Margin 10.5% 12.2% +167 bps 9.7% 11.3% +154 bps

    Operating ROCE

    (LTM)2 18.7% 20.9% +223 bps 18.7% 20.9% +223 bps

    GEA Equipment

    26 GEA Presentation Results Q2 2015 - July 29th, 2015

    Sales by Region

    Order Intake Development by Size

    493 518 513 501

    539 538 528 538 560 548

    19

    45 35

    42

    30 32 30

    27

    27 25

    5

    8 8 11

    6 7 21

    17

    18

    420

    450

    480

    510

    540

    570

    600

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

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

    12.3% 12.4% 12.4% 12.4% 12.8% 13.1% 13.5%

    0%

    2%

    4%

    6%

    8%

    10%

    12%

    14%

    0

    500

    1,000

    1,500

    2,000

    2,500

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

    Order Intake Sales Operating EBIT Margin

    Order Intake, Sales, and Operating

    EBIT Margin (LTM) [EURm] [EURm]

    30%

    9%

    30%

    6%

    6%

    19%

    Dairy Farming

    Dairy Processing

    Food

    Beverages

    Pharma/Chemical

    Other Industries

    LTM as of

    Q2 2015:

    EUR 2,362m

    +4% adj. YoY

    +7% / +4% adj.

    +9% / +4% adj.

    +7% / +4% adj.

    +8% / +4% adj.

    +10% / +6% adj.

    YoY

    0% / -3% adj.

    37%

    21%

    23%

    7%

    7% 3% 3%

    Western Europe

    Asia-Pacific

    North America

    Eastern Europe&CIS

    Latin America

    Middle East

    Africa

    LTM as of

    Q2 2015:

    EUR 2,362m

    +4% adj. YoY

    -4% / -3% adj.

    -1% / +4% adj. +16% / +4% adj. +6% / +2% adj. +6% / +5% adj.

    YoY +5% / +7% adj.

    +23% / +23% adj.

    1Adjusted = before currency translation and structural effects 2 Operating ROCE (LTM) = op. EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)

  • engineering for a better world

    Sales by Customer

    Industry

    37%

    15% 17%

    18%

    13%

    Dairy Processing

    Food

    Beverages

    Pharma/Chemical

    Other Industries

    36%

    28%

    14%

    9%

    5% 3% 4%

    Western Europe

    Asia-Pacific

    North America

    Eastern Europe&CIS

    Latin America

    Middle East

    Africa

    [in EUR million] Q2 2014 Q2 2015 YoY Q1-Q2 2014 Q1-Q2 2015 YoY

    Order Intake

    adjusted1 652.4 628.9

    -3.6%

    -10.9% 1,154.5 1,217.2

    +5.4%

    -0.7%

    Sales

    adjusted1 603.3 612.9

    +1.6%

    -5.8% 1,105.4 1,139.0

    +3.0%

    -4.3%

    Order Backlog 1,551.9 1,652.9 +6.5% 1,551.9 1,652.9 +6.5%

    Operating EBITDA 57.8 58.1 +0.5% 92.0 90.4 -1.8%

    Operating EBITDA

    Margin 9.6% 9.5% -11 bps 8.3% 7.9% -39 bps

    Operating EBIT 53.1 53.3 +0.2% 82.9 80.7 -2.6%

    Operating EBIT

    Margin 8.8% 8.7% -12 bps 7.5% 7.1% -41 bps

    Operating ROCE

    (LTM)2 61.4% 59.9% -152 bps 61.4% 59.9% -152 bps

    GEA Solutions

    LTM as of

    Q2 2015:

    EUR 2,438m

    -1% adj. YoY

    LTM as of

    Q2 2015:

    EUR 2,438m

    -1% adj. YoY

    Sales by Region

    +12% / +10% adj.

    +3% / -2% adj.

    -17% / -20% adj.

    +3% / -1% adj.

    +12% / +7% adj.

    -33% / -35% adj.

    -2% / +1% adj. +12% / +2% adj. +1% / -5% adj. +8% / +5% adj.

    -8% / -13% adj.

    +9% / +8% adj.

    Order Intake Development by Size

    265 253 257 290 268 288 279 348

    278 296

    126 189 133 170

    130 138 146 155

    137 166

    126 95

    124 56

    82 103 61

    66 91

    112 94

    162 127 121 22

    123 160 54 83 55

    0

    100

    200

    300

    400

    500

    600

    700

    800

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

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

    9.2% 9.3% 9.5% 9.7% 10.5% 10.3% 10.2%

    0%

    2%

    4%

    6%

    8%

    10%

    12%

    0

    500

    1,000

    1,500

    2,000

    2,500

    3,000

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

    Order Intake Sales Operating EBIT Margin

    Order Intake, Sales, and Operating

    EBIT Margin (LTM)

    27 GEA Presentation Results Q2 2015 - July 29th, 2015

    [EURm] [EURm]

    YoY YoY

    1Adjusted = before currency translation and structural effects 2 Operating ROCE (LTM) = op. EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)

  • engineering for a better world

    Order Intake Q2 2015

    GEA Presentation Results Q2 2015 - July 29th, 2015 28

    [EURm]

    Q2 2015 vs.

    Q2 2014

    Q1-Q2 2015 vs.

    Q1-Q2 2014

    Q2 2015 vs.

    Q1 2015

    abs. in % abs. in % abs. in %

    Order Intake

    previous period 1,170 2,194 1,127

    Structural Change +6 +0.5 % +8 +0.4 % +6 +0.6 %

    Currency Translation +77 +6.6 % +131 +6.0 % +12 +1.0 %

    At Constant Currencies -104 -8.9 % -57 -2.6 % +3 +0.3 %

    Order Intake

    current period 1,149 -1.8% 2,276 +3.7% 1,149 +1.9 %

  • engineering for a better world

    Sales Q2 2015

    GEA Presentation Results Q2 2015 - July 29th, 2015 29

    [EURm]

    Q2 2015 vs.

    Q2 2014

    Q1-Q2 2015 vs.

    Q1-Q2 2014

    Q2 2015 vs.

    Q1 2015

    abs. in % abs. in % abs. in %

    Sales

    previous period 1,118 2,068 1,006

    Structural Change +6 +0.5 % +10 +0.5 % +6 +0.6 %

    Currency Translation +73 +6.5 % +134 +6.5 % +10 +1.0 %

    At Constant Currencies -46 -4.1 % -56 -2.7 % +128 +12.7 %

    Sales

    current period 1,150 +2.9 % 2,157 +4.3 % 1,150 +14.3 %

  • engineering for a better world

    Operating EBITDA Q2 2015

    GEA Presentation Results Q2 2015 - July 29th, 2015 30

    [EURm]

    Q2 2015 vs.

    Q2 2014

    Q1-Q2 2015 vs.

    Q1-Q2 2014

    Q2 2015 vs.

    Q1 2015

    abs. in % abs. in % abs. in %

    Operating EBITDA

    previous period 128 213 98

    Structural Change 0 -0.2 % 0 -0.1 % 0 -0.3 %

    Currency Translation +7 +5.7 % +12 +5.7 % +1 +1.0 %

    At Constant Currencies +4 +3.3 % +12 +5.8 % +40 +41.2 %

    Operating EBITDA

    current period 139 +8.8 % 237 +11.4 % 139 +41.9 %

  • engineering for a better world

    139

    128

    One-Offs Q2 2015

    Reported

    EBITDA

    6

    Q2 2015

    Operating

    EBITDA

    Structural

    Change

    Currency

    Translation

    Q2 2015

    Operating

    EBITDA

    before FX

    132

    At Constant

    Currencies

    Q2 2014

    Operating

    EBITDA

    +4 +7 -133

    +3.3% +5.7% -95.4%

    GEAs reported EBITDA impacted by FX and One-Offs

    EBITDA bridge Q2 2015 [EURm]

    GEA Presentation Results Q2 2015 - July 29th, 2015 31

    0

    -0.2%

  • engineering for a better world

    FX Development Q2 2015 YoY

    Currency % total Q2 2015

    sales

    EUR 45 %

    USD 18 %

    CNY 7 %

    GBP 5 %

    NZD 4 %

    DKK 3 %

    SGD 3 %

    PLN 2 %

    BRL 2 %

    AUD 1 %

    CAD 1 %

    GEA Presentation Results Q2 2015 - July 29th, 2015 32

    FX Rates

    Q2 2015

    (average)

    D FX YoY

    Q2 2015 vs Q2

    2014

    - -

    1.11 -19.4 %

    6.86 -19.8 %

    0.72 -11.5 %

    1.51 -5.0 %

    7.46 0.0 %

    1.48 -13.6 %

    4.09 -2.0 %

    3.39 +11.0 %

    1.42 -3.4 %

    1.36 -9.2 %

    FX Rates

    H1 2015

    (average)

    D FX YoY

    H1 2015 vs H1

    2014

    - -

    1.12 -18.6 %

    6.94 -17.8 %

    0.73 -10.8 %

    1.51 -6.7 %

    7.46 -0.1 %

    1.51 -12.8 %

    4.14 -0.8 %

    3.31 +5.1 %

    1.43 -4.8 %

    1.38 -8.3 %

  • engineering for a better world

    Working Capital Development

    GEA Presentation Results Q2 2015 - July 29th, 2015 33

    [EURm]

    623

    562

    637

    943

    946

    994

    517

    640

    561

    459

    444

    487

    590

    424

    583

    Trade

    Receivables Inventories

    Trade

    Payables

    Advance

    Payments

    Working

    Capital

    Q4 2014

    Q2 2015

    +48

    +5%

    +75

    +13%

    -78

    -12%

    +43

    +10%

    +159

    +37%

    Q2 2014

    +3

    +0%

    -62

    -10%

    +122

    +24%

    -15

    -3%

    -166

    -28%

    =

    =

    =

  • engineering for a better world

    Key Figures Time Line (1/4)

    GEA Presentation Results Q2 2015 - July 29th, 2015 34

    Order Intake

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

    BA Equipment 533.3 570.6 573.2 553.1 2,230.2 574.9 569.7 564.7 585.8 2,295.1 586.5 573.0

    BA Solutions 610.2 698.2 640.8 636.3 2,585.5 502.1 652.4 646.5 622.3 2,423.4 588.3 628.9

    Consolidation / Others -48.5 -48.8 -45.6 -45.0 -187.8 -52.7 -52.2 -43.3 -50.6 -198.9 -47.4 -53.1

    GEA Group 1,095.1 1,220.0 1,168.3 1,144.4 4,627.9 1,024.3 1,169.9 1,167.9 1,157.5 4,519.6 1,127.5 1,148.8

    Order Backlog

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

    BA Equipment 597.8 616.3 618.1 554.5 554.5 627.6 624.1 596.7 532.6 532.6 608.3 581.4

    BA Solutions 1,413.9 1,502.7 1,553.0 1,492.1 1,492.1 1,496.7 1,551.9 1,623.6 1,540.2 1,540.2 1,684.4 1,652.9

    Consolidation / Others -29.2 -33.8 -35.0 -31.1 -31.1 -37.6 -38.8 -34.9 -35.2 -35.2 -36.7 -38.8

    GEA Group 1,982.6 2,085.3 2,136.2 2,015.5 2,015.5 2,086.7 2,137.2 2,185.4 2,037.6 2,037.6 2,256.0 2,195.5

    Sales

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

    BA Equipment 465.4 533.2 554.4 610.9 2,164.0 495.4 565.4 598.3 648.5 2,307.6 527.0 587.9

    BA Solutions 503.7 575.2 579.3 680.1 2,338.3 502.2 603.3 594.9 704.0 2,404.3 526.0 612.9

    Consolidation / Others -45.0 -43.8 -44.6 -48.9 -182.2 -46.9 -51.0 -47.3 -51.0 -196.2 -46.6 -50.7

    GEA Group 924.2 1,064.6 1,089.1 1,242.2 4,320.0 950.7 1,117.7 1,146.0 1,301.4 4,515.7 1,006.4 1,150.1

    Adjusted1) Sales Growth YoY

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

    BA Equipment n.a. n.a. n.a. n.a. n.a. 9.7% 9.0% 8.5% 5.3% 8.0% 0.8% -2.5%

    BA Solutions n.a. n.a. n.a. n.a. n.a. 2.4% 7.6% 2.0% 2.2% 3.5% -2.5% -5.8%

    Consolidation / Others n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.

    GEA Group 5.0% 8.0% 6.2% 6.5% 6.5% 6.0% 7.9% 5.2% 3.6% 5.6% -0.9% -4.1%

    Book-to-Bill Ratio LTM

    (rolling last 12 months)Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15

    BA Equipment n.a. n.a. n.a. 1.03 1.03 1.04 1.02 1.00 0.99 0.99 0.99 0.98

    BA Solutions n.a. n.a. n.a. 1.11 1.11 1.06 1.03 1.02 1.01 1.01 1.03 1.02

    Consolidation / Others n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.

    GEA Group 1.05 1.07 1.08 1.07 1.07 1.05 1.02 1.01 1.00 1.00 1.01 1.00

  • engineering for a better world

    Key Figures Time Line (2/4)

    GEA Presentation Results Q2 2015 - July 29th, 2015 35

    Operating EBITDA

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

    BA Equipment 48.3 65.9 84.0 113.1 311.2 56.2 71.7 90.0 131.2 349.2 67.4 84.5

    BA Solutions 32.1 52.2 53.5 96.9 234.7 34.2 57.8 60.3 117.5 269.8 32.3 58.1

    Consolidation / Others -7.9 0.3 -3.9 -4.2 -15.8 -5.3 -1.5 -1.3 -20.3 -28.4 -1.5 -3.3

    GEA Group 72.4 118.4 133.5 205.7 530.1 85.1 128.0 149.0 228.5 590.7 98.2 139.3

    Operating EBITDA - Margin

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

    BA Equipment 10.4% 12.4% 15.1% 18.5% 14.4% 11.4% 12.7% 15.0% 20.2% 15.1% 12.8% 14.4%

    BA Solutions 6.4% 9.1% 9.2% 14.2% 10.0% 6.8% 9.6% 10.1% 16.7% 11.2% 6.1% 9.5%

    GEA Group 7.8% 11.1% 12.3% 16.6% 12.3% 9.0% 11.5% 13.0% 17.6% 13.1% 9.8% 12.1%

    EBITDA reported

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

    BA Equipment 48.0 65.9 84.0 113.1 311.0 56.2 71.7 85.2 125.6 338.8 64.5 27.6

    BA Solutions 32.1 52.2 53.5 96.9 234.7 34.2 57.8 58.6 117.8 268.5 31.7 31.1

    Consolidation / Others -9.0 -4.3 -7.5 -9.6 -30.5 -7.4 -6.5 -3.9 -49.6 -67.4 -3.1 -52.3

    GEA Group 71.1 113.8 130.0 200.3 515.2 83.0 123.1 140.0 193.9 539.9 93.0 6.4

    Operating EBIT

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

    BA Equipment 38.1 55.2 72.6 100.2 266.0 44.0 59.3 77.4 115.6 296.4 54.3 71.5

    BA Solutions 27.4 47.6 48.7 92.5 216.1 29.8 53.1 55.7 113.2 251.8 27.5 53.3

    Consolidation / Others -10.0 -1.8 -5.7 -5.8 -23.3 -7.0 -3.1 -2.9 -21.7 -34.7 -3.0 -5.0

    GEA Group 55.4 101.0 115.6 186.8 458.8 66.8 109.3 130.2 207.2 513.5 78.8 119.8

    Operating EBIT - Margin

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

    BA Equipment 8.2% 10.4% 13.1% 16.4% 12.3% 8.9% 10.5% 12.9% 17.8% 12.8% 10.3% 12.2%

    BA Solutions 5.4% 8.3% 8.4% 13.6% 9.2% 5.9% 8.8% 9.4% 16.1% 10.5% 5.2% 8.7%

    GEA Group 6.0% 9.5% 10.6% 15.0% 10.6% 7.0% 9.8% 11.4% 15.9% 11.4% 7.8% 10.4%

    EBIT reported

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

    BA Equipment 32.7 50.2 67.5 95.1 245.5 38.9 54.5 67.8 105.2 266.4 46.5 8.1

    BA Solutions 26.5 46.7 47.8 91.2 212.2 28.9 52.3 53.1 112.8 247.0 25.7 24.9

    Consolidation / Others -11.1 -6.5 -9.3 -11.2 -38.1 -9.1 -8.1 -5.5 -50.9 -73.6 -4.7 -54.0

    GEA Group 48.1 90.4 106.0 175.1 419.6 58.7 98.7 115.4 167.0 439.9 67.5 -20.9

  • engineering for a better world

    Key Figures Time Line (3/4)

    GEA Presentation Results Q2 2015 - July 29th, 2015 36

    Capital Employed w/o

    goodwill2) (average LTM)

    [in EUR million]

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

    BA Equipment n.a. n.a. n.a. 1,454.9 1,454.9 1,466.1 1,480.1 1,494.7 1,506.2 1,506.2 1,519.8 1,526.8

    BA Solutions n.a. n.a. n.a. 371.3 371.3 365.4 365.027 370.2 375.5 375.5 391.0 417.1

    Consolidation / Others n.a. n.a. n.a. 68.8 68.8 68.8 66.9 64.1 61.8 61.8 63.2 62.8

    GEA Group 1,890.1 1,890.6 1,886.5 1,895.0 1,895.0 1,900.2 1,912.0 1,929.0 1,943.4 1,943.4 1,974.0 2,006.7

    ROCE w/o goodwill3) LTM

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

    BA Equipment n.a. n.a. n.a. 16.9% 16.9% 17.2% 17.3% 17.2% 17.7% 17.7% 18.0% 14.9%

    BA Solutions n.a. n.a. n.a. 57.1% 57.1% 58.7% 60.3% 60.9% 65.8% 65.8% 62.4% 51.9%

    GEA Group 18.8% 19.3% 19.6% 22.1% 22.1% 22.6% 22.9% 23.2% 22.6% 22.6% 22.7% 16.4%

  • engineering for a better world

    Key Figures Time Line (4/4): Remarks

    1) Adjusted Sales Growth = before currency translation and structural change

    2) Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999.

    3) ROCE LTM = EBIT reported (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the

    former Metallgesellschaft AG in 1999 (average LTM).

    GEA Presentation Results Q2 2015 - July 29th, 2015 37