q3 2019 - gea engineering for a better world call... · q3 order intake was also positively...

Results Presentation

Q3 2019

This presentation contains forward-looking statements. Forward-looking statements may include, in

particular, statements about future events, future financial performance, plans, strategies, expectations,

prospects, competitive environment, regulation and supply and demand. Statements with respect to the

future are characterized by the use of words such as "expect", "intend", "plan", "anticipate", "believe",

"estimate" and similar terms. Forward-looking statements are based on our current assumptions and

forecasts. These statements naturally entail risks and uncertainties, which may cause the actual results

of operations, financial position or performance to diverge materially from the estimates given here.

Factors that could cause such a divergence include, inter alia, changes in the economic and business

environment, fluctuations in exchange rates and interest rates, launches of competing products, poor

acceptance of new products or services, and changes in business strategy. Given these uncertainties,

readers should not put undue reliance on any forward-looking statements. We undertake no obligation

to update or revise any forward-looking statements.

Due to rounding, the sum of percentages of order intake and sales by region as well as by customer

industry may vary from 100%.

Disclaimer

GEA Q3 2019 Figures 2

1. Results Q3 2019

2. Financials Q3 2019

3. Outlook FY 2019

3

€m Q3 19 Q3 18 ∆FY 2019 Sales Guidance upgraded,

EBITDA1 and ROCE1,2 Guidance confirmed

Order

Intake1,255 1,197 4.8%

Growth in both Business Areas

Book-to-bill ratio of 1.02x

Sales 1,235 1,189 3.9%Strong service business (growth of 8.3% YoY)

Record sales volume in both business areas for a Q3

EBITDA1 143.1 145.2 -1.4%Special effects of -€3m; would be slightly above prior

years level excl. special effects

EBIT1 93.6 92.4 1.4%Increase YoY due to lower amount of purchase price

allocation effects

ROCE1,2 10.5% 14.6% -417bpsDecrease due to a YoY decline in EBIT and an increase

in capital employed from a net working capital increase

Executive Summary Q3 2019

4GEA Q3 2019 Figures

1 Before effects from restructuring (see Annual Report, page 28 ff.); previous year: pro-forma figure incl. IFRS 16 effects; 2 Capital employed excluding goodwill from the acquisition

of the former GEA AG by former Metallgesellschaft AG in 1999 (average of the last 4 quarters); previous year: pro-forma figure incl. IFRS 16 effects

➢ Start of the exit process for businesses for which GEA is not the best owner

➢ Leading supplier of open and semi-hermetic piston compressors for stationary and

transport-related cooling applications

➢ Around €90m sales in FY 2018

➢ Around 300 employees of which are two-thirds located at the company’s headquarters in

Frickenhausen

➢ In total four locations

➢ Germany

➢ Czech Republic

➢ India

➢ China

Update on strategic initiativesPossible disposal of GEA Bock


• Johannes Giloth to join GEA’s Executive Board

on January 20th 2020

• Responsible for Procurement, Production and

Logistics

• Different management positions in the areas of

procurement, logistics and production, amongst

others with Nokia and Siemens

• Holding a Master of Business Administration

and an Engineering Degree

C-level teams now all completed

• CEO and CSO of Farm Technologies appointed

New Chief Technology Officer appointed

• Further strengthening the strategic focus on

technology

• Ensuring that GEA’s portfolio matches market

trends and customer demands (e.g. plant-based

food products, meat and dairy substitutes)

Divisional representatives nominated

• The representatives are the backbone of the

future matrix structure in the countries

New COO: Johannes Giloth Further personnel updates

Update on the new organizational structurePersonnel updates


1. Results Q3 2019


3. Outlook FY 2019

7

Order Intake, Sales and Book-to-Bill


1,0

57

1,3

17

1,1

03

1,3

83

1,1

97

1,2

35

1,1

86

1,1

47 1

,25

5

1,1

31

1,3

31

1,0

39

1,2

27

1,1

89

1,3

73

1,0

57

1,2

47

1,2

35

0 €m

200 €m

400 €m

600 €m

800 €m

1,000 €m

1,200 €m

1,400 €m

Q3 17 Q3 18 Q3 19

Order Intake Sales

0.93 0.99 1.06 1.13 1.01 0.90 1.12 0.92 1.02

BtB

➢ Sales reached a new record level for a Q3

➢ Solid book-to-bill ratio of 1.02x

➢Q3 order intake was also positively impacted by

order deferrals of ~€60m

YoY Development

➢ Especially small (<€1m) and large (>€15m)

orders contributed to the order growth

➢ Accelerating sales momentum compared to the

prior quarters

QoQ Development

➢ Strong improvement in orders >€5m

➢Orders <€5m were trending weaker

➢ Sales sequentially slightly down

11

2

20

1

61

12

6

12

8

15

7

75

11

1

14

3

83

16

8

27

91

91 9

7

27

57

94

21.8%19.8%

16.8%16.0%15.3%

12.3%12.0%10.5%10.5%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

0 €m

50 €m

100 €m

150 €m

200 €m

250 €m

Q3 17 Q3 18 Q3 19

EBITDA EBIT ROCE

EBITDA1, EBIT1 and ROCE1,2


➢ Accounting change IFRS 16 from Q1 2019

onwards

➢Q3 2019 EBITDA1 down YoY due to special

effects of -€3m despite positive IFRS 16 impact

of €18m

➢ Excluding special effects, EBITDA1 would have

been above prior year’s level

➢ EBIT1 with slight improvements compared to

prior year’s Q3 due to lower PPA effects

➢ ROCE1,2 declined YoY also due to the phasing

in of IFRS 16 assets in capital employed

Change in IFRS 16

accounting

1 Before effects from restructuring (see Annual Report, page 28 ff.); 2 Capital employed excluding goodwill from the acquisition of the former GEA AG by former Metallgesellschaft

AG in 1999 (average of the last 4 quarters)

1 1 1,2

EBITDA before restructuringYoY Development [€m]

10

18

12

17

Volume

145

0

EBITDA Q3 18

incl. €18m

IFRS 16

effect

Margin OtherR&D

-19

EBITDA Q3 19SG&A

-7-5

F/X and

delta D&A

128

143

GEA Q3 2019 Figures

BA-E

• +€1m New Machines

• +€10m Service

BA-S

• -€3m New Machines

• +€3m Service

BA-E

• +€2m New Machines

• -€3m Service

BA-S

• +€10m New Machines (therein

+€1m backlog review BA-S)

• +€3m Service

Cons. / other

• +€4m other

FX impacts

• -€1m

Delta D&A (total)

• -€4m other

Other

• -€4m legal disputes

• -€3m other

Expenses highlighted in bold letters are special effects

Total special effects in Q3 2019: -€3m

SG&A

• -€15m Personnel expenses

• -€4m other

EBITDA before restructuring per SegmentYoY Development [€m]

11

18

4

F/X impactsEBITDA Q3 18

incl. €18m IFRS 16

effect

-3

128

BA-E BA-S

-2

RoC/GCC

-2 143

EBITDA Q3/19

145

GEA Q3 2019 Figures

BA-S

• +€0 Volume

• +€13m Margin (therein +€1m

backlog review BA-S)

• +€0 R&D

• -€11m SG&A

• +€2m other

• -€1m Delta D&A

BA-E

• +€11m Volume

• -€1m Margin

• -€1m R&D

• -€4m SG&A

• -€6m other (therein -€4m

legal disputes)

• -€2m Delta D&A

RoC/GCC

• -€2m personnel expenses

FX impacts

• BA-E -€1m

• BA-S +€2m

• RoC/GCC -€2m

Expenses highlighted in bold letters are special effects

Total special effects in Q3 2019: -€3m

Service Sales


220260

225 237 241269

243 255 263

123

171

117

144 138

171

117

153 148

331

415

329

368 366

428

346

394 396

0 €m

100 €m

200 €m

300 €m

400 €m

500 €m

Q3 17 Q3 18 Q3 19

BA Equipment BA Solutions

Please note that the differences between the sum of the BAs and the Group are explained by consolidation/others

➢ Service sales grew by 8.3% YoY to €396m

➢ Record service sales volumes for both Business

Areas for a Q3

➢ Growth at Business Area Equipment was especially

driven by service in Separation and Homogenizers

➢ Growth at Business Area Solutions was supported by

an increase in service volume as well as in pricing

➢ Growth at both Business Areas supported by better

pricing and by solid underlying demand

➢ Net working capital stood at the end of Q3 19 at €941m or

19.2% of L4Q sales – an increase of €37m or 30bps YoY

➢ However, the momentum of the Net Working Capital

increase is getting sequentially lower

➢ Net Working Capital increased at BA Equipment by €60m

and declined at BA Solutions by €25m

➢ Inventories were almost on prior year’s level and

increased YoY by just €2m

➢ Net trade receivables (without POC) were down by €34m

YoY while net POC receivables increased by €8m

➢ Trade payables declined by €61m and therefore

contributed most to the increase in net working capital

Net working capital to sales ratio


731

674

761

848

904

747

833

906941

16.0%

14.6%

16.4%

17.9%18.9%

15.5%17.2%

18.6%19.2%

0%

5%

10%

15%

20%

25%

0€m

200€m

400€m

600€m

800€m

1,000€m

1,200€m

Q3 17 Q3 18 Q3 19

NWC as of reporting date

NWC as of reporting date as % of sales (L4Q)

Cash flow and net financial debtper Q3 19


Free Cash Flow

• Negative effect in net working capital of €28m

mainly related to a reduction of payables

• Restructuring related cash outflow of €6m: BA-E

€2m; BA-S €1m; GCC €3m

• Others cash in of €21m: includes pension related

cash outflows of €10m and non cash add-backs

from provisions of €35m

• Capex €29m: BA-E €16m, BA-S €8m, GCC €5m

Net Cash flow

• IFRS 16: BA-E €7m, BA-S €8m, GCC €1m

Net financial debt

• FX €1m: translation effects from valuation

changes of cash positions

• Others €6m: mostly F/X translation effects from

intercompany financing and interests

Free Cash Flow Q3 19 [€m]

Net financial debt Q3 19 vs. Q2 19 [€m]

143

118

90

71

28

21 29

1616

InterestEBITDA

before

Restructuring

Delta

NWC

12

Taxes Operating

Cash flow

Others IFRS 16

payments

Cash-out

Restructuring

OthersCapex

1

Free Cash

Flow

Net Cash

Flow

Capex

Restructuring

3

-330

-2636

Net debt

Q2 2019

1

71

Net debt

Q3 2019

Net Cash Flow

0

DOP F/X impacts Other

Maturites [€m]

* Total net debt / cons. EBITDA based on frozen GAAP (covenant concept)

** According to Moody’s consideration (3.1x in September as of June 2019)

Financing and liquidity

15

*Including uncommitted lines and credit lines < 1 Year.

**From the €150m EIB €100m will be lapsed in 2020 if not utilized

10

0

193

650

128 1281

22

12

2

25

0

50

2019 20232020 20252021 2022 20245

0

350

172 172

Evergreens*

EIB**

BNL (2023)

BNL (2025)

Syn Loan

Left side: committed

Right side: utilization

Rating

Agency Rating Outlook Last update

Moody's Baa2 negative February 27, 2019

Fitch BBB negative June 29, 2019

Financing and liquidity

➢ Sufficient financial leeway and flexibility due to long term financing and

liquidity back-up facility; However, limited headroom for maintaining

current investment grade rating

➢ Evergreens: Mainly uncommitted lines that are shown to the extent of

their utilization and which will be extended if needed

➢ EIB: No further utilization planned in 2019; availability period ends in 2020

but could be extended on a mutual agreement in 2020, whereby a

maximum maturity up to 2027 is possible

GEA Q3 2019 Figures

Spot∆ Sep Sep FY

€m A 2019A 2018A 2018A

Equity 2,380 2,476 2,449

Leverage* (Covenant 3x) 0.6x 0.7x 0.2x

Leverage** (Rating) 3.1x 2.7x 2.3x

Financial Headroom 750 800 750

Cash and Cash Equivalents 230 263 248

Net Debt 263 331 72

Committe

€m Sep 19 Sep 19 FY 2018

Borrower's note loan (2023) 128 128 128

Borrower's note loan (2025) 122 122 122

European Investment Bank (EIB) 150 50 50

Other bilateral credit l ines 250 193 20

Syndicated credit l ine ("Club Deal") 650 - -

Total 1.300 493 320

Utilized

1. Results Q3 2019


3. Outlook FY 2019

16

Guidance FY 2019

GEA Q3 2019 Figures

This forecast is based on the assumptions described in the Report on Expected Developments on pages 124 ff. in

the 2018 Annual Report and takes into account, among other things, the assumption that there will be no significant

slowdown in global economic growth. Potential acquisitions and divestments in 2019 are not considered.

EBITDA(before restructuring measures)

ROCE(before restructuring measures)

Revenue

On par with

last year’s level

(EUR 4,828m)

between

EUR 450 and 490m(previous year pro forma figure incl. IFRS 16

effects from 2019: approx. EUR 535m)

between

8.5% and 10.5%

(previous year pro forma figure incl. IFRS 16

effects from 2019: ca. 11.5%)

1717

Roadmap for 2019/20


Q3 201925 October

2019

Divisional

Strategy

Day

Q2 2020

FY 2019

March 17

2020

Q1 2020

May 15

2020

Q2 2020

August 12

2020

AGM

April 30

2020

New org.

structure

fully

implemented

1 January

2020

Appendix

19

23%

20%

7%18%

14%

17%

Sales by Customer

Industry12%

18%

30%

11%

14%

15%

GEA – Q3 2019 figures

GEA Q3 2019 Figures

1 Adjusted = before FX and structural effects; 2 Before effects from restructuring (see Annual Report, page 28 ff.); previous year: pro-forma figure incl. IFRS 16 effects; 3 ROCE = EBIT1 (L4Q) / Capital

employed excluding EUR ~800m goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L4Q); previous year: pro-forma figure incl. IFRS 16 effects

Order Intake Development by SizeOrder Intake and Sales (L4Q)

Sales by Region

Dairy Farming -2% YoY

Dairy Processing 2% YoY

Food 2% YoY

Beverages 6% YoY

Pharma/Chemical -1% YoY

Other Industries 13% YoY

GEA 3% YoY

Sales L4Q

as of Q3 19

EUR 4,912m

Sales L4Q

as of Q3 19

EUR 4,912m

Asia-Pacific 8% YoY 7% adj. YoY

DACH & Eastern Europe -2% YoY -3% adj. YoY

Latin America 1% YoY 5% adj. YoY

North America 0% YoY -4% adj. YoY

Northern/Central Europe 11% YoY 10% adj. YoY

Western Europe, M. East & Africa -1% YoY -2% adj. YoY

GEA 3% YoY 2% adj. YoY

4,000 €m

4,500 €m

5,000 €m

5,500 €m

Q3 16 Q3 17 Q3 18 Q3 19

Order Intake Sales

754 812 758 788 729850 853 802 748 791 802 811 792

156221

211 228185

270 218 281210

260 219 238 192137

79116 89

107

12232

180

16076 127 80 14836

11150

136

35

75

0

120

79 107 38 181221,084

1,2231,136

1,241

1,057

1,317

1,103

1,383

1,197 1,2351,186 1,147

1,255

0€m

200€m

400€m

600€m

800€m

1,000€m

1,200€m

1,400€m

Q3 16 Q3 17 Q3 18 Q3 19

< €1m >= €1m < €5m >= €5m < €15m >= €15m

[ in EU R mill ion] Q3 18 Q3 19 ∆ Y oY L4 Q Q3 18 L4 Q Q3 19 ∆ Y oY

Order Int ake 4.8% -3.5%

Organic1

3.3% -4.3%

Sales 3.9% 2.6%

Organic1

2.4% 1.5%

Order B acklog 2,550.1 2 ,4 3 5.6 -4.5% 2,550.1 2 ,4 3 5.6 -4.5%

EB ITD A2

145.2 14 3 .1 -1.4% 565.0 4 8 6 .3 -13.9%

EB ITD A M arg in2

12.2% 11.6 % -62 bps 11.8% 9 .9 % -190 bps

EB IT2

92.4 9 3 .6 1.4% 379.5 2 75.5 -27.4%

EB IT M arg in2

7.8% 7.6 % -18 bps 7.9% 5.6 % -232 bps

R OC E3 14.6% 10 .5% -417 bps 14.6% 10 .5% -417 bps

1,197.2 1,2 54 .8 4,999.7 4 ,8 2 2 .8

1,188.9 1,2 3 4 .7 4,786.7 4 ,9 12 .2

20

Sales by Customer

Industry24%

10%

36%

6%

8%

16%

BA Equipment – Q3 2019 figures

GEA Q3 2019 Figures


Sales by Region

Dairy Farming -2% YoY

Dairy Processing -1% YoY

Food 7% YoY

Beverages 10% YoY

Pharma/Chemical 11% YoY


BA Equipment 5% YoY

Sales L4Q

as of Q3 19

EUR 2,690m

Asia-Pacific 22% YoY 20% adj. YoY

DACH & Eastern Europe 5% YoY 5% adj. YoY

Latin America -2% YoY 5% adj. YoY

North America -5% YoY -10% adj. YoY


Western Europe, M. East & Africa 2% YoY -1% adj. YoY

BA Equipment 5% YoY 3% adj. YoY

21%

23%

7%20%

13%

17%

Sales L4Q

as of Q3 19

EUR 2,690m

2,000 €m

2,200 €m

2,400 €m

2,600 €m

2,800 €m

3,000 €m

3,200 €m

3,400 €m

Q3 16 Q3 17 Q3 18 Q3 19

Order Intake Sales

522 556 550 566 538595 633 585 536

590 594 585 580

3242 53 36

4049

6056

8132 73 69 40

80 19 20

279

486 5

16 619562

598 622 622577

671701 688

624 649683 660 672

0€m

100€m

200€m

300€m

400€m

500€m

600€m

700€m

800€m

Q3 16 Q3 17 Q3 18 Q3 19

< €1m >= €1m < €5m >= €5m < €15m >= €15m



Organic1

6.4% -1.7%

Sales 5.6% 4.5%

Organic1

4.2% 3.1%

Order B acklog 871.2 8 2 8 .7 -4.9% 871.2 8 2 8 .7 -4.9%

EB ITD A2

116.0 112 .3 -3.1% 413.9 3 9 6 .8 -4.1%

EB ITD A M arg in2

17.8% 16 .3 % -148 bps 16.1% 14 .8 % -133 bps

EB IT2

85.1 8 3 .1 -2.3% 299.3 2 6 5.8 -11.2%

EB IT M arg in2

13.1% 12 .1% -98 bps 11.6% 9 .9 % -174 bps

R OC E3 16.2% 14 .1% -212 bps 16.2% 14 .1% -212 bps

623.9 6 72 .3 2,684.4 2 ,6 6 4 .6

2,573.7 2 ,6 8 9 .6650.5 6 8 7.1

21



BA Solutions – Q3 2019 figures

GEA Q3 2019 Figures

Sales by Customer

Industry


Sales by Region

Dairy Processing 3% YoY

Food -5% YoY

Beverages 5% YoY

Pharma/Chemical -5% YoY


BA Solutions 1% YoY

26%

25%17%

20%

13%

Asia-Pacific -1% YoY -1% adj. YoY

DACH & Eastern Europe -9% YoY -9% adj. YoY

Latin America 4% YoY 5% adj. YoY

North America 8% YoY 3% adj. YoY


Western Europe, M. East & Africa -4% YoY -3% adj. YoY

BA Solutions 1% YoY 1% adj. YoY

26%

18%

8%15%

16%

17%

Sales L4Q

as of Q3 19

EUR 2,481m

Sales L4Q

as of Q3 19

EUR 2,481m

2,000 €m

2,200 €m

2,400 €m

2,600 €m

2,800 €m

3,000 €m

3,200 €m

3,400 €m

Q3 16 Q3 17 Q3 18 Q3 19

Order Intake Sales

278 316258 274 242

326 281 278 267 269 278 297 279

125

179

158192

146

221

158225

129229

146169

152

129

79

9770

108

95

23

132

15371

111 74 12936

111

50

136

35

75

0

120

79 8538 18

105569

685

564

672

531

717

462

755

628654

573 557

665

0€m

100€m

200€m

300€m

400€m

500€m

600€m

700€m

800€m

Q3 16 Q3 17 Q3 18 Q3 19

< €1m >= €1m < €5m >= €5m < €15m >= €15m

22



Organic1

4.3% -4.9%

Sales 2.7% 1.4%

Organic1

1.2% 0.7%

Order B acklog 1,740.4 1,6 9 8 .9 -2.4% 1,740.4 1,6 9 8 .9 -2.4%

EB ITD A2

40.8 4 6 .7 14.4% 176.1 12 9 .6 -26.4%

EB ITD A M arg in2

6.8% 7.6 % 78 bps 7.2% 5.2 % -198 bps

EB IT2

23.5 3 0 .3 29.0% 119.1 6 2 .2 -47.8%

EB IT M arg in2

3.9% 4 .9 % 100 bps 4.9% 2 .5% -236 bps

R OC E3 16.3% 8 .9 % -739 bps 16.3% 8 .9 % -739 bps

627.6 6 6 5.1 2,562.1 2 ,4 4 9 .5

2 ,4 8 1.12,445.96 14 .2598.0



Order intake Q3 2019


in EURm ∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in %

Order Intake

previous period

Structural Change 0 0.0% 0 0.0% 0 0.0% 22 0.4%

Currency Translation 19 1.5% 1 0.1% 31 0.9% 16 0.3%

Like-for-Like Development 39 3.3% 107 9.3% -126 -3.4% -215 -4.3%

Order Intake

current period4,823 -3.5%1,255 4.8% 1,255 9.4% 3,588 -2.6%

L4Q Q3 19 vs. L4Q

Q3 18

1,197 1,147 3,683 5,000

Q3 19 vs. Q3 18 Q3 19 vs. Q2 19Q1 - Q3 19 vs. Q1 -

Q3 18

Sales Q3 2019

GEA Q3 2019 Figures

in EURm ∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in %

Sales

previous period

Structural Change 0 0.0% 0 0.0% 0 0.0% 37 0.8%

Currency Translation 18 1.5% 1 0.1% 32 0.9% 15 0.3%

Like-for-Like Development 28 2.4% -13 -1.1% 52 1.5% 73 1.5%

Sales

current period

4,787

1,235 3.9% 1,235 -1.0% 3,539 2.4% 4,912 2.6%

1,189 1,247 3,455

Q3 19 vs. Q3 18 Q3 19 vs. Q2 19Q1 - Q3 19 vs. Q1 -

Q3 18

L4Q Q3 19 vs. L4Q

Q3 18

24

Reported order intake development YoY/QoQ as of Q3 2019

GEA Q3 2019 Figures

Q3 19 L4Q Share of order intake BtB

QoQ YoY YoY Q3 19 L4Q L4Q

Dairy Farming 12% 0.95

Dairy Processing 17% 0.93

Food 29% 0.95

Beverages 14% 1.23

Food & Beverages 72% 0.99

Pharma 6% 0.87

Chemical 6% 0.92

Pharma/Chemical 13% 0.90

Oil & Gas 2% 1.19

Marine 2% 1.04

Others 11% 1.00

Other Industries 15% 1.02

GEA 100% 0.98

Q3 19 Quarter selective

Less than -5% Between -5% and -1% Between -1% and 1% Between 1% and 5% More than 5%

25

Pharma/Chemical 3%

Other Industries 2%

GEA 3%

CAGR Q2 12 - Q3 19

Dairy Farming 0%

Dairy Processing -1%

GEA 2%

CAGR Q2 12 - Q3 19

L4Q order intake and sales indexedQ2 2012 to Q3 2019 per customer industry

Ord

er

Inta

ke

Sa

les

GEA Q3 2019 Figures

Food 4%

Beverages 3%

GEA 2%

CAGR Q2 12 - Q3 19

Pharma/Chemical 1%

Other Industries 2%

GEA 2%

CAGR Q2 12 - Q3 19

Dairy Farming 2%

Dairy Processing 1%

GEA 3%

CAGR Q2 12 - Q3 19

Food 6%

Beverages 0%

GEA 3%

CAGR Q2 12 - Q3 19

26

60%

80%

100%

120%

140%

160%

60%

80%

100%

120%

140%

160%

Order intake split as of Q3 2019 L4Q: Top 20 countries account for 75% of GEA‘s order intake

More than 5%

Betw een 1% and 5%

Betw een -1% and 1%

Betw een -5% and -1%

Less than -5%


33% of order intake

16% of order intake

0% of order intake

14% of order intake

37% of order intake

USA 15% 0.97

China 9% 0.99

Germany 9% 0.98

France 5% 1.08

Russia 4% 1.10

Canada 4% 1.39

Netherlands 3% 0.87

Great Britain 3% 0.86

Brazil 3% 1.10

Spain 3% 0.91

Italy 3% 1.05

Poland 2% 1.05

Belgium 2% 0.84

India 2% 0.70

Ireland 2% 0.88

New Zealand 2% 1.30

Australia 2% 1.13

Indonesia 2% 1.10

Japan 2% 0.75

Switzerland 1% 1.26

Emerging Markets 37% 0.94

GEA 100% 0.98

CountryShare of total

order intakeGrowth yoy BtB

Additional financial information for FY 2019

GEA Q3 2019 Figures

Strategic

Projects

(included in

EBITDA

before

restructuring)

(€m)

around

40

Depreciation

&

Amortization

(incl. PPA,

IFRS 16)

(€m)

around

214

Thereof

impact from

PPA (€m)

around

35

Capex

before

restructuring

(of sales)

ca.

3.3%

Tax Rate

around

23%

Dividend

Policy

28

Thereof

impact from

initial

application of

IFRS 16

(€m)

around

61For FY 19:

Stable

dividend

Pro Forma Q3 2018 EBITDA and EBIT before restructuring


€m

Q3 18op. EBITDA

Pro Forma

IFRS 16

Pro Forma

op. EBITDAStrategic Projects PPA

Pro Forma

EBITDA bef. Restr.

GEA AG 137.6 +17.7 155.3 -9.8 -0.2 145.2

BAE 108.8 +7.7 116.5 -0.3 -0.2 116.0

BAS 32.7 +8.5 41.2 -0.3 0.0 40.8

Other/GCC -3.9 +1.5 -2.4 -9.2 0.0 -11.6

€m

Q3 18op. EBIT

Pro Forma

IFRS 16

Pro Forma

op. EBITStrategic Projects PPA

Pro Forma

EBIT bef. Restr.

GEA AG 112.2 +0.9 113.1 -9.8 -11.0 92.4

BAE 93.7 +0.4 94.2 -0.3 -8.8 85.1

BAS 25.6 +0.5 26.0 -0.3 -2.2 23.5

Other/GCC -7.1 +0.0 -7.1 -9.2 0.0 -16.2

FX Development


EUR 46% - -

USD 16% 1.12 -6%

CNY 6% 7.71 -1%

DKK 4% 7.46 0%

GBP 4% 0.88 0%

RUB 3% 73.09 0%

CAD 2% 1.49 -3%

SGD 2% 1.53 -4%

BRL 2% 4.36 2%

PLN 2% 4.30 1%

JPY 2% 122.57 -6%

∆ FX YoY Sep 2019 vs

Sep 2018Currency % total Sep Q3 *

FX Rates Sep Q3

(average)

*Share of functional (i.e. local P&Ls) currencies in the translation mix of the group

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