q4 2011 presentation preliminary results fy 2011 · q4 presentation preliminary results fy 2011 -...

GEA Group

Düsseldorf, February 6, 2012

Q4 2011 Presentation Preliminary Results FY 2011

engineering for a better world

Disclaimer

Q4 Presentation Preliminary results FY 2011 - February 6, 2012

All figures for 2011 are preliminary and have therefore not yet been audited. The year-

end financial statements for the GEA Group and GEA Group Aktiengesellschaft are to

be finalized by the Executive Board at the beginning of March and subsequently to be

approved by the Supervisory Board. The financial statements for the GEA Group and

GEA Group Aktiengesellschaft for 2011 will be published on March 12, 2012.

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.

2


Order Intake

Dividend

Underlying EBIT

(before ppa)

Cash generation

capacity

Sales

Outlook 2012

Pages 7, 8

Pages 7, 8

Pages 20, 21

Pages 7, 8

Pages 29-31

Q4 2011 incl. GEA CT: +20% yoy

Q4 2011 w/o GEA CT: +11% yoy


Q4 2011 w/o GEA CT: +16% yoy

Proposal of 0.55 EUR per share


Q4 2011 w/o GEA CT: +37% yoy

Strong cash generation in Q4 2011

Net debt of EUR 387m

Growth to continue

Key Messages of preliminary figures

3 Q4 Presentation Preliminary results FY 2011 - February 6, 2012

EPS At least EUR 1.68 per share

Underlying EBIT-

Margin (before ppa) Pages 7, 8

Q4 2011 incl. GEA CT: 12.7%; +157 bps

Q4 2011 w/o GEA CT: 13.1%; +200 bps


Agenda

4

January – December 2011

I. Preliminary Key Figures

II. Preliminary Performance

Backup

Preliminary Performance GEA Group and Segments


III. Outlook

engineering for a better world 5 Q4 Presentation Preliminary results FY 2011 - February 6, 2012

What we promised … … is what we delivered!

Order intake w/o GEA CT: between EUR

5,100m and EUR 5,300m Q1-Q4 2011: EUR 5,280m

Sales w/o GEA CT: between EUR

4,800m and EUR 5,000m

EBIT-margins bef. ppa w/o GEA CT:

between 9,3% and 9,5%

Order intake and sales GEA CT: around

EUR 300m

GEA CT EBIT-margin before ppa and

one-off expenses between 8.5% and

9.0%

I. Preliminary Key Figures GEA Group is delivering on its promises (1/2)

Q1-Q4 2011: EUR 5,071m

Q1-Q4 2011: 10.0%

Q2-Q4 2011: 8.6% before one-off

expenses of around EUR 10m

OI Q2-Q4 2011: EUR 330m

Sales: Q2-Q4 2011: EUR 346m


What we promised … … is what we delivered!

Ongoing acquisitions mainly in food

applications

I. Preliminary Key Figures GEA Group is delivering on its promises (2/2)

CFS, Bock, NuCon, San Joaquin

Sufficient provisions for discontinued

operations

No impact on the Group result in

2011

Strong focus on working capital

management

WC/Sales EOP: 10.7%

WC/Sales LTM: 12.7%

Reduction of Net Debt position down to

around EUR 500m Net Debt: EUR 387m

Q4 Presentation Preliminary results FY 2011 - February 6, 2012 6

Cash out guidance DOP: EUR 80m Q1-Q4 2011: EUR 37m


55 69

74 109

95

139 144

207

2010³ 2011

Q4

Q3

Q2

Q178 92

98 135

118

166

169

237

2010³ 2011

Q4

Q3

Q2

Q1

938 1,038

1,065 1,349

1,125 1,397

1,290

1,632

2010 2011

Q4

Q3

Q2

Q1

7

1,010 1,242

1,167 1,463

1,153

1,403 1,248

1,502

2010 2011

Q4

Q3

Q2

Q1

Order Intake +23%

5,610

4,578

Sales +23%

5,417

4,418

EBIT before PPA²

+43%

525

367

EBITDA before PPA¹

+36%

630

463

I. Preliminary Key Figures GEA Group Q1-Q4 2011 YoY

+7% qoq

+23%

+25%

+17%

+38%

+26%

+48%

+11%

+27%

[in EUR million]

¹ 2010: before restructuring expenses; Q1-Q4 2010: EUR 98m. ² 2010: before restructuring expenses; Q1-Q4 2010: EUR 119m

³ The Q4 2010 result is restated retrospectively due to the change of the accounting method for defined benefit obligations (IAS 19) and Leasing within GEA FT.


+22%

+26%

+41% +47%

+17% qoq

+42% qoq +49% qoq

( w/o CT: +15%) ( w/o CT: +15%)

( w/o CT: +30%) ( w/o CT: +38%)

+20%

+24%

+44% +40%


171 182

331 496

202 240

410

464 135

154 131

Q4 2010 Q4 2011

GEA CT

GEA FT

GEA HX

GEA ME

GEA PE

GEA RT

14 20

45 70

40

54 40

37 15

15 10

Q4 2010² Q4 2011

GEA CT

GEA FT

GEA HX

GEA ME

GEA PE

GEA RT

8

153 170

420 449

182 204

399 462

116 132 120

Q4 2010 Q4 2011

GEA CT

GEA FT

GEA HX

GEA ME

GEA PE

GEA RT

Order Intake +20%

1,502

1,248

+27%

1,632 1,290

EBIT before PPA¹

+44%

207

144

I. Preliminary Key Figures Segments Q4 2011 YoY

+12%

+16%

+7%

+12%

+19%

+13%

+23%

+6%

+36%

0%

-8%

Some Highlights in Q4 2011:

Order Intake:

GEA HX: +16% yoy, highest quarterly order

intake since Q2 2008

GEA PE: +7% yoy, highest quarterly order intake

since beginning of 2008

EBIT before PPA*:

GEA ME: Extraordinary EBIT-Margin of 22.4%

GEA RT: Very strong EBIT-margin improvement

of +292 bps leading to 11.0% EBIT-Margin

[in EUR million]

¹ Q4 2010: before restructuring expenses of EUR 72m.

² The Q4 2010 result is restated retrospectively due to the change of the accounting method for defined benefit obligations (IAS 19) and Leasing within GEA FT.

+13% +14%

+56%

+44%


( w/o CT: +11%) ( w/o CT: +16%)

( w/o CT: +37%)

Sales


II. Preliminary Performance Order Intake Q4 2011

9

∆ abs. ∆ in

%

∆ abs. ∆ in

%

Q4 2011 vs.

Q4 2010

Q1-Q4 2011 vs.

Q1-Q4 2010

Q4 2011 vs.

Q3 2011

Order Intake

previous period 1,248 4,578 1,403

Structural

Change +168 +13.5% +458 +10.0% +11 +0.8%

Currency Effects -4 -0.3% -52 -1.1% +10 +0.7%

Organic

Development +90 +7.2% +626 +13.7% +78 +5.6%

Order Intake

current period 1,502 +20.4% 5,610 +22.5% 1,502 +7.1%

∆ abs. ∆ in %

∆ abs. ∆ in %

∆ abs. ∆ in %

[in EUR million]



0 100 200 300 400 500

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

10

II. Preliminary Performance Regional Order Intake Trend per Q4 2011

0 500 1000 1500

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

GEA Group

0 100 200 300 400 500

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

0 100 200 300 400 500

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

0 100 200 300 400 500

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

0 100 200 300 400 500

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

0 100 200 300 400 500

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

0 100 200 300 400 500

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

[in EUR million]


Eastern Europe & CIS

Latin America Asia Pacific

Western Europe North America

Middle East

Order intake from GEA CT since Q2 2011 is illustrated at the end of the bars.

Africa

∆ QoQ: +9%

w/o CT: +14%

∆ YoY: +45%

w/o CT: +34%

∆ QoQ: -9%

w/o CT: -12%

∆ YoY: +3%

w/o CT: -5%

∆ QoQ: +13%

w/o CT: +8%

∆ YoY: -46%

w/o CT: -49%

∆ QoQ: -4%

w/o CT: -9%

∆ YoY: +54%

w/o CT: +37%

∆ QoQ: +35%

w/o CT: +39%

∆ YoY: +77%

w/o CT: +69%

∆ QoQ: +9%

w/o CT: +5%

∆ YoY: -42%

w/o CT: -48%

∆ QoQ: -6%

w/o CT: -8%

∆ YoY: +6%

w/o CT: -7%

∆ QoQ: +7%

w/o CT: +6%

∆ YoY: +20%

w/o CT: +11%


Climate &

Environment;

11%

Other

Industries;

4%

Chemicals; 6%

Pharma; 5%

Power;

11%

Oil & Gas; 7%

Food &

Beverage;

52%

Marine; 3%

55%

15%

20%

2% 1%

1% 6%

Africa

29%

19%

31%

4%

5%

10% 2%

Middle East

65%

17%

6%

2% 4%

2% 3%

Latin America

50%

5%

16%

6%

8%

6% 3% 5%

Asia Pacific

56%

8% 2%

5%

3% 2%

18%

6%

Eastern Europe & CIS

49%

3% 8% 5%

4%

4%

22%

5%

Western Europe

11

II. Preliminary Performance Regional Order Intake by Customer Industry (L4Q)

62%

7%

7%

6%

10%

1% 5% 2%

North America

14% 10% 35%

7% 26%

3% 5%

Analysis including GEA CT. Due to rounding, the sum of percentages may not equal to 100%.


100%

+ Δ OI yoy >= €50m

- Δ OI yoy <= €-50m

-

+ +

+

+

+ +

engineering for a better world 12 Q4 Presentation Preliminary results FY 2011 - February 6, 2012

China:

Beverage: Several

orders totaling

EUR 80m

*Orders > EUR 10m

Brazil:

Beverage:

Several orders

totaling

EUR 53m

II. Preliminary Performance Examples of major orders* during 2011

The

Netherlands:

Dairy

EUR 13m

India:

Beverage:

EUR 11m

Turkey:

ACC Power

EUR 27m

Germany:

Dairy

EUR 16m

Food

Energy

Other

New Zealand:

Dairy

EUR 41m

Australia:

Dairy

EUR 26m

Australia:

Meat

Processing

EUR 14m

Mexico:

ACC Power:

EUR 12m

Brazil:

Oil & Gas:

EUR 10m

USA:

Power: Several

orders totaling

EUR 30m

China:

Pharma:

EUR 11m

India:

Dairy:

EUR 16m

Israel:

ACC Power

EUR 21m

Korea:

Solid Food:

EUR 13m

China:

Dairy:

EUR 10m

China:

Power:Several

orders totaling:

EUR 151m

Russia:

Oil & Gas:

Several orders

totaling

EUR 27m

Russia:

Beverage

EUR 16m


869

748 738 704 662 673 739 777 767

812 877 905

991 954 916

177

140 165 123

140 156

203 210 185

220

211 214

231 228

241

141

134 110

128

59 105

52

88 95

69

82

178

178 161 183 37

91 60

80

101

76

16

93 106

146 72

63

63

60 162

0

200

400

600

800

1,000

1,200

1,400

1,600

Q3 08 Q4 08 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11(w/o CT)

Q2 11(incl.CT)

Q3 11 Q4 11

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

II. Preliminary Performance Large Order Development since Q3 2008

13

[in EUR million]


1,600

1,400

1,200

1,000


37% (40%)

22% (22%)

13% (14%)

10% (9%)

7% (6%)

5% (5%)

5% (4%)

Emerging markets*

exposure: 34% (33%) abs.: +28% YoY

(average of Dow Jones and MSCI

definition*)

Sales

Q1-Q4 2011:

EUR 5,417m +23% YoY

II. Preliminary Performance Regional Sales Split Q1-Q4 2011 (Q1-Q4 2010)

14

Germany

11% (12%)

abs.: +8% YoY

USA

12%(12%) abs.: +18% YoY

China

11% (12%) abs.: +13% YoY

Top 3 Countries

Western Europe abs.: +15% YoY

Asia-Pacific abs.: +23% YoY

North America

abs.: +16% YoY

Latin America abs.: +41% YoY

Eastern Europe

& CIS abs.: +35% YoY

Middle East abs.: +76% YoY Africa

abs.: +22% YoY


* Dow Jones emerging markets index consists of 35 countries thereof 20 are GEA relevant; MSCI defines 21 countries as emerging markets thereof 17 are GEA relevant.


27% 26%

10% 8%

13%

20% 6%

6% 15%

15% 4%

5%

6%

5%

4%

3%

12%

9%

3%

3%

Q4 2010 Q4 2011

Other Industries

Climate &EnvironmentMarine

Chemicals

Pharma

Power

Oil & Gas

Food - Solid

Food - Beverages

Food - Dairy

15

II. Preliminary Performance Order Intake by Customer Industry since Q4 2009*

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

Δ+13%

Δ-13%

Δ+91%

Δ+15%

Δ+25%

Δ+82% Δ-1% Δ-8% Δ-10% Δ+17%

+20%

1,248

1,502

60%

100%

140%

180%

220%

260%

Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11

Food - Dairy Food - Beverages

Food - Solid incl. GEA CT Food - Solid w/o GEA CT

GEA Group w/o GEA CT

60%

80%

100%

120%

140%

160%

Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11

Pharma Chemicals

Marine GEA Group w/o GEA CT

60%

80%

100%

120%

140%

160%

Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11

Oil & Gas Power

Climate & Environment GEA Group w/o GEA CT


( w/o CT: +11%)


Book to bill ratio (L4Q)

Q4 2011

Food - Dairy 1,02 7,8% 1,17 2,5% 1,12 5,0% 1,11 2,0% 0,89 0,3% 0,60 0,5% 1,19 5,6% 1,08 23,8%

Food - Beverage 0,84 1,9% 1,24 1,6% 0,93 0,9% 1,23 1,7% 1,09 0,4% 1,02 0,2% 1,02 4,2% 1,03 10,9%

Food - Solid 0,98 7,5% 0,85 1,3% 1,10 2,9% 0,94 1,0% 1,01 1,1% 1,09 0,7% 1,19 3,1% 1,02 17,5%

Total Food 0,98 17,2% 1,09 5,4% 1,09 8,7% 1,11 4,7% 1,00 1,9% 0,85 1,4% 1,13 12,9% 1,05 52,1%

Oil & Gas 0,99 1,0% 1,19 0,8% 1,42 0,9% 1,28 1,2% 0,92 0,5% 1,13 0,9% 1,16 1,3% 1,16 6,7%

Power 0,84 2,9% 0,18 0,2% 1,17 1,0% 1,15 0,5% 0,31 0,7% 0,98 1,5% 2,69 4,2% 0,97 11,0%

Total Energy 0,87 3,9% 0,53 1,0% 1,28 2,0% 1,24 1,7% 0,43 1,2% 1,03 2,4% 2,05 5,5% 1,04 17,6%

Pharma 1,10 1,8% 1,87 0,5% 1,07 0,9% 1,11 0,2% 0,61 0,1% 0,60 0,2% 1,11 1,6% 1,09 5,2%

Chemicals 0,98 1,5% 1,22 0,3% 1,32 1,5% 1,03 0,3% 0,15 0,0% 1,16 0,2% 1,12 2,0% 1,09 5,9%

Marine 0,99 1,2% 2,49 0,2% 0,87 0,1% 1,14 0,1% 0,88 0,0% 0,54 0,0% 0,89 1,6% 0,96 3,2%

Climate & Environment 1,01 7,6% 0,96 1,7% 1,06 0,7% 0,43 0,1% 0,35 0,0% 0,85 0,5% 0,92 0,8% 0,97 11,5%

Other Industries 0,87 1,7% 1,40 0,6% 0,66 0,3% 1,17 0,2% 1,02 0,2% 0,79 0,1% 1,01 1,3% 0,95 4,5%

Other 1,00 13,9% 1,18 3,3% 1,08 3,5% 0,92 0,9% 0,55 0,3% 0,82 1,1% 1,02 7,3% 1,01 30,2%

Total 0,97 35,0% 1,00 9,8% 1,11 14,1% 1,11 7,3% 0,65 3,4% 0,92 4,8% 1,21 25,6% 1,03 100,0%

Asia - Pacific TotalWestern

Europe

Eastern Europe &

CIS

North America Latin America Africa Middle - East

II. Preliminary Performance Book to Bill Ratios by Industry/Region Last 4 Quarters

16

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

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

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

Book to Bill categories


1,04


1,700¹ 1,900²

2,150³

464

514

527

-

500

1,000

1,500

2,000

2,500

3,000

Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11

Order Intake Sales

3,000

2,500

2,000

1,500

1,000

500

0

17

II. Preliminary Performance Top Line Trend / Order Backlog

2,164 2,301

2,469 2,424 2,414

2,667 2,771

2,677

[in EUR million]


2,312 2,435

2,756

0.90 0.90 0.93 0.94 0.98 1.00 1.04 1.06 1.06 1.06 1.04

L4Q BtB ratio #

¹ Order backlog invoicable in FY2010. ² Order backlog invoicable in FY2011. ³ Order backlog invoicable in FY2012.

engineering for a better world 18

II. Preliminary Performance Working Capital Development

-451 bps

[in EUR million]


657

482

567 555

566

445

647

707 720

579*

17.2%

16.4%

15.0% 13.9%

13.1%

12.4% 12.4% 12.4% 12.6% 12.7%*

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

0

100

200

300

400

500

600

700

800

Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 Q2 '11 Q3 '11 Q4 '11

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

* Working Capital per Q4 2011 excl. GEA CT EUR 523m; leading to 12.5% WC/Sales ratio (average LTM)

*


590

736

799

743

691

1,034

1,160

1,238

1,358

1,251

672

660

706

903

831

507

599

612

620

587

445

638

720

579

523

Q3 2011 w/o CT

19

Q4 2011 incl. CT

Q4 2010

II. Preliminary Performance Working Capital Development

Trade

Receivables

Inven-

tories

Trade

Payables Advance

Payments

Working

Capital

Q3 2011 incl. CT

Change

Change

+126

+12%

+146

+25%

-12

-2%

+92

+18%

+193

+43%

+120

+10%

-56

-7%

+197

+28%

+8

+1%

-142

-20%

[in EUR million]

Change +78

+7%

+63

+9%

+46

+7%

+13

+2%

+82

+13%

Q4 2011 w/o CT

Change -108

-8%

-52

-7%

-72

-8%

-32

-5%

-55

-10%



Net

Cash 104.8 December 31, 2010

EBITDA

Working Capital

CAPEX

Net Debt

Discont´d operations

Interests / Taxes

Cash out restructuring

December 31, 2011

(73.5)

(387.0)

(45.4)

(155.2)

(134.2)

(36.9)

604.2

(93.5)

(37.4)

II. Preliminary Performance Net Liquidity Reconciliation – Cash Flow Drivers

20

Other

(519.9)

Net Cash before M&A, dividend and

one-offs as of December 31, 2011

[in EUR million]


280.7

Dividend

Effect from acquisitions


II. Preliminary Performance Financial Leeway

21

[in EUR million] 12/31/2011 12/31/2010 Change

Cash & Equivalents 432 564 -132

Securities 0 0 0

Loans 819 459 +360

Net cash -387 105 -492

Equity 1,865

Gearing -5.6%

21

GEA credit lines

[in EUR million]

Due date 12/31/2011

granted

12/31/2011

utilized

12/31/2011

unutilized

Total cash credit lines 1,703 819 884

of which:

Borrowers note loan 08/2013 128 128 0

Syndicated credit line 06/2015 650 0 650

Bond 04/2016 400 400 0

KfW I Amortization Loan

KfW II Amortization Loan

05/2016

12/2016

90

56

90

0

0

56

European Investment Bank 07/2017 150 150 0



901

n.a.

103

180

251

190 178

1,066

102 113

178

271

206 196

GEA Group GEA CT GEA FT GEA HX GEA ME GEA PE GEA RT

2010 2011 Service business as % of sales

22

[in EUR million]

II. Preliminary Performance Service Business

Growth in service sales FY 2011 yoy: +18% to a total of EUR 1,066m

Share of service sales FY 2011: 19.7% (FY 2010: 20.4%)

23%

+18%

+10%

-1%

+8%

+8% +10%


%

22%

20%

20%

30%

12% 11%

35% 32%

15% 13% 32% 30%


II. Preliminary Performance GEA Convenience-Food Technologies

Order Intake

Q4

2010

Q4

2011 ∆

(%)

n.a. 119.6 n.a.

thereof organic: n.a.

Sales

Q4

2010

Q4

2011 ∆

(%)

n.a. 130.6 n.a.

thereof organic: n.a.

EBIT bef. PPA*

Q4

2010

Q4

2011 ∆

(%)

n.a. 10.2* n.a.

EBIT Margin bef. PPA*

(%)

Q4

2010

Q4

2011 ∆

(bps)

n.a. 7.8* n.a.

*Including non-recurring items of EUR 4.3m in Q4 2011;

YTD Dec. 2011: EUR 9.9m.

[in EUR million]

Order Intake by Customer Industry Order Intake by Region

100%

Q4 2011

Food &Beverages

45%

14%

14%

13%

6% 5% 2%

Q4 2011

Africa

Middle-East

Latin America

North America

Asia-Pacific

Eastern Europe& CIS

Western Europe



II. Preliminary Performance GEA Farm Technologies

Order Intake

Q4

2010

Q4

2011 ∆

(%)

116.3 131.7 +13.3

thereof organic: +13.5

Sales

Q4

2010

Q4

2011 ∆

(%)

134.9 153.8 +14.0


EBIT bef. PPA*

Q4

2010

Q4

2011 ∆

(%)

14.8 14.8 -0.3


(%)

Q4

2010

Q4

2011 ∆

(bps)

11.0 9.6 -138

* EBIT and EBIT-Margin 2010: before restructuring cost.

[in EUR million]

100%

100%

Q4 2010 Q4 2011

Food &Beverages

33%

39%

37%

30%

10%

12% 9%

11%

10%

7%

Q4 2010 Q4 2011

Asia-Pacific

Latin America

Eastern Europe& CIS

Western Europe

North America


Δ+13%

Δ+39%

Δ-7%

Δ-16%

Δ+48%

Δ+35%



8%

36%

39%

32%

8%

9%

16%

9%

8%

6%

13%

4%

8%

4%

Q4 2010 Q4 2011

Latin America

Africa

North America

Middle-East

Eastern Europe& CIS

Western Europe

Asia-Pacific

44% 47%

29%

23%

14%

12% 2%

6%

5%

4%

4%

4%

3%

3%

Q4 2010 Q4 2011

Marine

Food &Beverages

Other Industries

Chemicals

Oil & Gas

Climate &Environment

Power

25

II. Preliminary Performance GEA Heat Exchangers

Order Intake

Q4

2010

Q4

2011 ∆

(%)

399.2 462.3 +15.8


Sales

Q4

2010

Q4

2011 ∆

(%)

410.1 463.6 +13.0


EBIT bef. PPA*

Q4

2010

Q4

2011 ∆

(%)

40.0 36.8 -8.1


(%)

Q4

2010

Q4

2011 ∆

(bps)

9.8 7.9 -183

* Including non-recurring items of EUR 13m in Q4 2011;

EBIT and EBIT-Margin 2010: before restructuring cost.

[in EUR million]


Δ+25%

Δ-9%

Δ+3%

Δ+370%

Δ-3%

Δ+5%

Δ+8%

Δ+384%

Δ-4%

Δ+32%

Δ-38%

Δ-41%

Δ-61%

Δ-18%



II. Preliminary Performance GEA Mechanical Equipment

Order Intake

Q4

2010

Q4

2011 ∆

(%)

181.8 203.9 +12.2


Sales

Q4

2010

Q4

2011 ∆

(%)

201.9 240.4 +19.1


EBIT bef. PPA*

Q4

2010

Q4

2011 ∆

(%)

39.7 54.0 +36.0


(%)

Q4

2010

Q4

2011 ∆

(bps)

19.7 22.4 +279


[in EUR million]

54%

60%

16%

12% 3%

7%

7%

6%

7%

5%

8%

4% 5%

4% 1%

Q4 2010 Q4 2011

OtherIndustries

Pharma

Chemicals


Oil & Gas

Power

Marine

Food &Beverages


31% 30%

32% 30%

18%

24%

10%

6% 4%

5%

3%

2% 1%

2%

Q4 2010 Q4 2011

Africa

Middle-East

Eastern Europe& CIS

Latin America

North America

WesternEurope

Asia-Pacific

Δ+21%

Δ-14%

Δ+129%

Δ-14%

Δ-41%

Δ-6%

Δ-2%

Δ+10%

Δ+3%

Δ+45%

Δ-32%

Δ+31% Δ-25% Δ+70%


Δ+1035%


II. Preliminary Performance GEA Process Engineering

Order Intake

Q4

2010

Q4

2011 ∆

(%)

419.7 449.0 +7.0


Sales

Q4

2010

Q4

2011 ∆

(%)

402.2 496.4 +23.5


EBIT bef. PPA*

Q4

2010

Q4

2011 ∆

(%)

44.6 69.6 +55.9


(%)

Q4

2010

Q4

2011 ∆

(bps)

11.1 14.0 +292


[in EUR million]

74% 74%

8%

16% 11%

6% 3%

3%

2%

3%

Q4 2010 Q4 2011

Other Industries

Power


Oil & Gas

Chemicals

Pharma

Food &Beverages

29% 36%

32%

26%

11%

15% 8%

11% 8%

9%

8%

2% 4%

2%

Q4 2010 Q4 2011

Africa

Middle-East

Latin America

Eastern Europe& CIS

North America

Western Europe

Asia-Pacific


Δ+6%

Δ+103 %

Δ-47%

Δ+1684% Δ-40 %

Δ+33%

Δ-13%

Δ+51%

Δ+43%

Δ+11%

Δ-76%

Δ-55%



II. Preliminary Performance GEA Refrigeration Technologies

Order Intake

Q4

2010

Q4

2011 ∆

(%)

152.5 170.1 +11.5


Sales

Q4

2010

Q4

2011 ∆

(%)

171.3 181.6 +6.0

thereof organic: -2.6

EBIT bef. PPA*

Q4

2010

Q4

2011 ∆

(%)

13.9 20.0 +44.2


(%)

Q4

2010

Q4

2011 ∆

(bps)

8.1 11.0 +292


[in EUR million]

65% 57%

7% 18% 7%

9% 6%

7% 5%

4%

4%

3% 5%

2%

Q4 2010 Q4 2011

Power

Marine

Oil & Gas


Chemicals

Other Industries

Food &Beverages

48% 42%

14% 18%

9% 14%

15%

11% 7%

6% 5% 5% 1%

4%

Q4 2010 Q4 2011

Latin America

Middle-East

Africa

Asia-Pacific

North America

Eastern Europe& CIS

Western Europe

Δ-6%

Δ+174%

Δ+26%

Δ-15%

Δ-19% Δ-68%

Δ+42%

Δ-6%

Δ+39%

Δ+71%

Δ-21%

Δ-7%

Δ-11%

Δ+282%




III. Outlook Key Figures FY 2012

29

an order intake growth: up to +5%

a sales growth: at least +5%

EBIT-margin bef. ppa. incl GEA CT: at least on FY 2011 level of 9.7%

For FY 2012 we aim at



III. Outlook Additional Financial Information for 2012

30

Tax rate in P&L after impact from tax around 22.5%

loss carry forwards:

Impact from ppa in 2012 and in around EUR 25m p.a.

subsequent years: thereof GEA CT around EUR 14m p.a.

Mid term target for Capex: around 2.0% of sales


Capex in FY 2012: up to 3.0% of sales due to special

projects in particular within GEA ME

Working Capital LTM: approx. 12% - 14% of sales LTM

Interest result: Interest rate for financial liabilities

(excl. pensions) below 4% p.a.


III. Outlook Long term – Over the Cycle

31

EBIT margin before ppa-impact:

Target of 12% after recovery to pre-crisis market conditions

Acquisitions to continue

Dividend payout ratio: 1/3 of net income

Long term growth of GEA end markets: 3% – 6% p.a., clearly > GDP growth



Investor Relations Calendar Upcoming roadshows and conferences


March 14 Roadshow Switzerland Zurich

March 15 Roadshow Italy Milan

March 20-21 Roadshow France Paris

March 22 Roadshow Germany Frankfurt

March 23 Roadshow Denmark Copenhagen

March 26 Roadshow Germany Duesseldorf/Cologne

March 27 Roadshow Belgium Brussels

April 26 Conference Germany Baden-Baden

March 28 Conference Great Britain London

March 29 ANUGA FoodTec Germany Cologne


Financial Calendar

33

March 12, 2012 Annual Report FY 2011

April 24, 2012 Annual General Meeting

May 8, 2012 Interim Report Q1 2012


June 28-29, 2012 Capital Markets Day

February 6, 2012 Preliminary Key Figures FY 2011


Agenda


January – December 2011

I. Preliminary Key Figures

II. Preliminary Performance

Backup

Preliminary Performance GEA Group and Segments

III. Outlook


∆ abs. ∆ in

%

∆ abs. ∆ in

%

∆ abs. ∆ in %

∆ abs. ∆ in %

∆ abs. ∆ in %

[in EUR million]


Q4 2011 vs.

Q4 2010

Q1-Q4 2011 vs.

Q1-Q4 2010

Q4 2011 vs.

Q3 2011

Sales previous

period 1,290 4,418 1,397

Structural

Change +173 +13.4% +458 +10.4% +14 +1.0%

Currency Effects -11 -0.8% -48 -1.1% +8 +0.6%

Organic

Development +179 +13.9% +588 +13.3% +213 +15.2%

Sales current

period 1,632 +26.5% 5.417 +22.6% 1,632 +16.8%

Backup: Preliminary Performance GEA Group Sales Q4 2011


Backup: Prel. Performance GEA Group & Segments Key Figures Time Line (1/5)


Order Intake

[In EUR million]Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009

GEA Convenience-Food Technologies* 95,1 116,4 100,5 85,7 397,7 75,6 101,2 81,6 95,5 353,9

GEA Farm Technologies 123,5 120,5 137,0 116,0 497,1 94,9 101,2 94,9 98,6 389,6

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

GEA Mechanical Equipment 257,4 258,0 237,0 177,0 929,4 194,9 162,2 158,6 169,4 685,1

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

GEA Refrigeration Technologies 174,1 152,3 144,2 143,3 613,9 138,9 143,2 114,3 130,3 526,6

GEA Group 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

Order Backlog


GEA Convenience-Food Technologies* n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.


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


GEA Process Engineering 850,7 830,9 826,6 666,2 666,2 651,5 658,2 627,9 660,2 660,2


GEA Group 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

Sales

[in EUR million]Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009







GEA Group 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

EBITDA before PPA & restructuring

[in EUR million] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009

GEA Convenience-Food Technologies* -4,5 7,0 9,4 7,6 19,4 -2,9 4,9 7,0 6,4 15,5


GEA Heat Exchangers 42,6 55,7 65,2 79,8 243,2 36,1 38,2 45,5 59,1 179,0




GEA Group 94,5 138,6 152,7 200,1 585,9 78,9 95,4 111,7 147,7 433,7

EBITDA-Margin before PPA &

restructuring [in %]Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009

GEA Convenience-Food Technologies* -4,9% 7,1% 9,5% 7,3% 4,9% -3,3% 6,1% 8,5% 7,8% 4,6%

GEA Farm Technologies 6,3% 11,0% 15,4% 14,6% 12,4% 0,9% 8,2% 9,6% 8,2% 7,1%

GEA Heat Exchangers 10,7% 12,4% 13,5% 15,1% 13,1% 9,3% 9,1% 12,2% 13,3% 11,0%

GEA Mechanical Equipment 15,3% 17,3% 15,5% 20,6% 17,2% 13,4% 12,9% 17,3% 21,3% 16,1%

GEA Process Engineering 3,7% 6,6% 7,7% 11,8% 7,6% 4,1% 6,2% 7,5% 12,3% 7,7%

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

GEA Group 8,4% 10,7% 11,6% 13,9% 11,3% 7,5% 8,6% 10,5% 12,4% 9,8%




Order Intake








GEA Group 1.010,2 1.167,3 1.152,6 1.247,8 4.578,0 1.242,1 1.462,5 1.402,8 1.502,2 5.609,7

Order Backlog


GEA Convenience-Food Technologies* n.a. n.a. n.a. n.a. n.a. 104,4 109,2 105,0 85,5 85,5


GEA Heat Exchangers 1.006,7 1.061,1 1.071,3 1.086,9 1.086,9 1.092,5 1.135,4 1.063,5 1.086,0 1.086,0




GEA Group 2.301,1 2.468,5 2.423,7 2.414,1 2.414,1 2.666,6 2.770,6 2.755,7 2.677,3 2.677,3

Sales








GEA Group 938,2 1.065,1 1.124,7 1.290,4 4.418,4 1.038,0 1.349,0 1.397,4 1.632,2 5.416,5

EBITDA before PPA & restructuring








GEA Group 78,1 98,3 117,6 169,4 463,5 91,6 135,4 166,4 236,8 630,2

EBITDA-Margin before PPA &


GEA Convenience-Food Technologies* 13,4% 10,3% 5,9% 6,6% 9,1% 6,3% 6,0% 7,1% 9,2% 7,6%






GEA Group 8,3% 9,2% 10,5% 13,1% 10,5% 8,8% 10,0% 11,9% 14,5% 11,6%




EBIT before PPA & restructuring


GEA Convenience-Food Technologies* -8,6 3,4 6,1 4,4 5,3 -8,2 1,5 3,7 3,4 0,4

GEA Farm Technologies 4,3 11,9 19,5 19,5 55,2 -1,3 6,0 8,6 7,0 20,3





GEA Group 77,1 120,6 133,6 179,1 510,4 57,9 73,3 89,4 121,4 341,9

EBIT-Margin before PPA &


GEA Convenience-Food Technologies* -9,4% 3,4% 6,2% 4,2% 1,3% -9,2% 1,9% 4,5% 4,1% 0,1%

GEA Farm Technologies 4,6% 9,6% 14,1% 13,2% 10,9% -1,5% 6,1% 7,6% 6,1% 4,9%





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

EBIT before restructuring



GEA Farm Technologies 4,1 11,6 18,8 18,8 53,4 -1,6 5,6 7,9 6,6 18,5





GEA Group 76,1 119,3 131,8 177,1 504,2 56,0 71,2 87,2 118,8 333,2

Capital Employed w /o goodw ill**

(average LTM) [in EUR million]Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009


GEA Farm Technologies n.a. n.a. n.a. 204,0 204,0 219,7 235,5 241,7 241,4 241,4

GEA Heat Exchangers n.a. n.a. n.a. 707,3 707,3 757,2 789,7 793,4 752,0 752,0

GEA Mechanical Equipment n.a. n.a. n.a. 349,8 349,8 364,3 371,3 374,2 367,7 367,7

GEA Process Engineering n.a. n.a. n.a. 270,6 270,6 274,2 276,2 269,7 255,1 255,1

GEA Refrigeration Technologies n.a. n.a. n.a. 221,1 221,1 236,8 249,9 258,6 258,7 258,7

GEA Group 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

ROCE w /o goodw ill*** LTM

[in%]Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009


GEA Farm Technologies n.a. n.a. n.a. 26,2% 26,2% 21,7% 17,7% 12,7% 7,7% 7,7%

GEA Heat Exchangers n.a. n.a. n.a. 30,5% 30,5% 27,3% 23,7% 20,8% 18,9% 18,9%

GEA Mechanical Equipment n.a. n.a. n.a. 35,9% 35,9% 33,4% 29,9% 28,4% 27,0% 27,0%

GEA Process Engineering n.a. n.a. n.a. 37,0% 37,0% 36,0% 32,3% 30,4% 29,0% 29,0%

GEA Refrigeration Technologies n.a. n.a. n.a. 18,4% 18,4% 15,6% 13,4% 10,3% 7,5% 7,5%

GEA Group n.a. n.a. n.a. 28,4% 28,4% 26,1% 22,9% 20,6% 18,2% 18,2%




EBIT before PPA & restructuring








GEA Group 54,7 73,9 94,8 143,5 366,8 68,7 109,4 139,5 207,2 524,6

EBIT-Margin before PPA &


GEA Convenience-Food Technologies* 9,4% 7,0% 1,7% 3,0% 5,3% 3,4% 3,8% 4,9% 7,8% 5,7%






GEA Group 5,8% 6,9% 8,4% 11,1% 8,3% 6,6% 8,1% 10,0% 12,7% 9,7%

EBIT before restructuring


GEA Convenience-Food Technologies* n.a. n.a. n.a. n.a. n.a. n.a. -22,6 -0,2 6,8 -16,0






GEA Group 52,6 71,7 92,6 138,9 355,8 66,5 79,0 130,9 198,2 474,7

Capital Employed w /o goodw ill**

(average LTM) [in EUR million]Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011







GEA Group 1.780,9 1.750,4 1.738,6 1.740,3 1.740,3 1.796,7 1.950,0 2.128,5 2.315,3 2.315,3

ROCE w /o goodw ill*** LTM

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







GEA Group 18,5% 18,9% 19,3% 20,4% 20,4% 20,6% 19,3% 19,5% 20,5% 20,5%


Backup: Performance GEA Group & Segments Key Figures Time Line (5/5): Definitions


* All historical figures for GEA Convenience-Food Technologies before Q2 2011 are pro-forma

figures only and haven't been audited due to the fact that GEA Convenience-Food Technologies

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.

** Capital employed excluding goodwill from the acquisition of the former GEA AG by the former

Metallgesellschaft AG in 1999

*** ROCE = EBIT before restructuring / Capital employed excluding goodwill from the acquisition of

the former GEA AG by the former Metallgesellschaft AG in 1999

q4 2011 presentation preliminary results fy 2011 · q4 presentation preliminary results fy 2011 -...

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