Q Commerzbank German Investment Seminar 2013

Transcription

1 Commerzbank German Investment Seminar 2013 New York, January 14-15, 2013 GEA Group

2 Disclaimer 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%. Since Q1, the segment, GEA Convenience-Food Technologies (GEA CT), is renamed as GEA Food Solutions (GEA FS). 2

3 Table of Contents GEA Group in Summary Pages 4 25 GEA Group Segment Structure Page 17 GEA Group in Emerging Markets Pages Regional Top Line Distribution Pages 29, 30, 40 Large Order Development Page 31 Top Line Development by Customer Industry Pages 41, 42 Segment Performance incl. Organic Growth Rates Pages Outlook Pages 34, 61 Historical Key Figures GEA Group and Segments Pages ADR Information Page 70 3

4 The GEA Group in Summary GEA provides the world with innovative solutions for smart food processing and for a more efficient use of energy resources. Market and technology leader for demanding equipment and process technology particularly for the food and energy industries Revenue : EUR 5,417 million Operational EBIT : EUR 525 million Employees per 31/12/11: Around 23,000 people 4

5 Global GEA setup focusing on growth drivers Food and Energy By Customer Industry By Region Pharma Climate & Environment Marine Chemicals 11% 5% Other 3% 4% 6% Sales L4Q per : EUR 5,733m 53% Food Latin America Eastern Europe Middle East 10% 7% Africa 5% 5% Sales L4Q per : EUR 5,733m 35% Western Europe Power 12% 6% North America 15% 22% Oil & Gas Asia-Pacific => Emerging markets exposure: ~32% 5

6 Growth drivers Food and Energy Megatrend Significance for demand Demand relevant for GEA Steady growth in global population Continuously rising demand for food and energy Volume growth and catch-up potential especially in South and East Asia, Latin America and, in future, Africa Urbanization/ expansion of middle class Growing quality requirements for foodstuffs and pharmaceuticals Processed foods/ready meals Aseptic filling/enriched lifestyle drinks Pharmaceuticals Rising energy costs/ environmental regulations Growing interest in efficient production processes that conserve resources Resource-conserving technologies/dry cooling Energy-saving machines and processes/heat recovery Intelligent engineering solutions 6

7 GEA organic sales growth outperforms global GDP (Index 2003 = 100) CAGR Global GDP 2003-e: +3.9% CAGR GEA sales w/o portfolio adjustments 2003-e: +5.6% e Source: IMF World Economic Outlook April. GEA e sales growth based on guidance of at least 5% growth. GDP GEA 7

8 Strong focus on operating margin improvement % ,9% ,0% 10% 8,3% 8,3% 9,7% ,6% 6,9% 7,8% 8% % % ,1% 2% % Sales w/o GEA FS EBIT margin w/o GEA FS bef. PPA. and restr. Sales GEA FS EBIT margin incl. GEA FS bef. PPA. and restr. * EBIT margin before PPA. and restructuring 8

9 Service business: Aim of 25% of sales per LTM already at EUR 1.2bn annual run rate ~25% 20.4% 19.7% 20.9% 14.9% 18.2% ,066 1, LTM Aim Service Sales GEA Service as % of Sales 9

10 Our equipment is also needed to form, cook, fry, grill or freeze commercially processed meat 10

11 Around one of every four liters of milk will have been obtained through GEA milking equipment 11

12 Heat exchangers are also needed for pasteurization of dairy products 12

13 Equipment for safe, healthy and nutritious food products 13

14 But also around one third of all instant coffee is produced with GEA machinery 14

15 Cooling and freezing applications optimally matched to our customers products 15

16 GEA s food related technologies and product applications are also delivered into other customer industries Segment Product example Examples of food application Examples of other application GEA Heat Exchangers Plate heat exchangers Milk production, beverage processing Marine, cargo, cruiser; pulp and paper processing GEA Mechanical Equipment Separator Dairy processing, beverage processing Oil & Gas, chemicals, water treatment GEA Process Engineering Spray dryer Milk powder, instant coffee, food ingredient Pharmaceutical active ingredients, chemical compounds GEA Refrigeration Technologies Compressor Frozen meals, brewery Transportation, cargo, storage 16

17 Group structure GEA Food Solutions GEA Farm Technologies GEA Heat Exchangers GEA Mechanical Equipment GEA Process Engineering GEA Refrigeration Technologies 6 % of Group Sales 9 % of Group Sales 29 % of Group Sales 15 % of Group Sales 28 % of Group Sales 12 % of Group Sales Bowl Choppers Milking & Cooling Finned, Shell & Tube Separators Spray Drying Compressors Spiral Cookers Cooling Towers Decanters Aseptic Filling Packages and Skids Slicers Farm Services Plate Heat Exchangers Homogenizers Brewery & Dairy Systems Ice Machines Thermoformers Farm Equipment HVAC Systems ) Valves Pharma Systems Freezers ~ 100 % food related ~ 100 % food related ~ 5 % food related ~ 55 % food related ~ 65 % food related ~ 60 % food related 17

18 Sales by region since 2008 Sales by Customer Industry since 2008 GEA exposure to Food and Asia-Pacific rising , ,123 41% -768 (-15%) -39% -12% -37% -5% 4, % % % 337 2,021 46% +3% 4,418 2,081 47% +1% +8% -4% +34% ,781 51% 2008* * 2008 industry split based on industry reclassification announced in Q ,417 Other Industries Climate & Environment Marine Chemicals Pharma Power Oil & Gas Food & Beverage In FY, Food & Beverage representing more than 50% of GEA sales , ,411 4, % % % -17% % -3% 14% 16% -4% % % 22% 2,242 43% -768 (-15%) -10% 2,009 46% -13% 1,757 40% +34% +16% +23% +15% 5, % % % Middle - East Africa Latin America Eastern Europe & CIS North America Asia - Pacific Western Europe Highlight FY sales by region Asia-Pacific: 22% (+23% yoy) Emerging market: 34% (+28% yoy) China: 11% (+13% yoy)

19 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Rolling Capex* Stable investment behavior of food industry [EUR Million] CAGR 2008-: +9.3% GEA Sales from Food Industry CAGR 2008-: +9.4% Food Price Index** Rolling Capex* Food Price Index** Despite volatile food price, food manufacturers expenditure (implied by CAPEX) for durable capital goods, such as machinery, remains stable. Source: Citi Investment Research * Capex Model based on >70 manufacturers ** Food Price Index: = 100. Food Price Index consists of the average of 5 commodity group price indices (meat, dairy, cereals, oil & fat, and sugar) weighted with the average export shares of each of the groups for

20 Revenue Share Very diversified customer base 4 out of the top 10 customers coming from EM 45% 40% 35% GEA is independent of single customers 4 out of the Top 10 customers are already coming from Emerging Markets 30% 25% 20% 15% 10% 5% 0% Top Customer Top 10 Top 50 Top 100 Top 150 Top 200 Customer Our largest customer in food industry has a revenue share of only 1.3 percent 20

21 Focus on local players in Emerging Markets Retail market share of two largest western and Chinese suppliers* Soft drinks Ice cream Global China Coca-Cola PepsiCo Unilever Nestle Tingyi Hangzhou Wahaha Yili Industrial Mengniu Dairy Some large Chinese local players in Food & Beverage industry have larger market share in China than global players. * Source: Financial Times GEA large orders with value of more than 10m 23% 77% 20% 80% 100% of GEA Food & Beverage large orders from China were booked with value of more than 10m by local players. from Emergin Markets from Mature Market from Local Players from Global Players 21

22 Growth in food industry Driven by growing demand from Emerging Markets Changing eating habits lead to growing demand in 1. Functional food, 2. Processed and prepared food, especially meat, and 3. Convenience food. Source: UN, Rabobank. 22

23 Sales from Emerging Markets FY : 23% Emerging Markets exposure generated in only four countries 23% of Sales +25% yoy 11% of Sales +33% yoy CAGR of Sales GEA Group 2009-: 10.5% 20% +62% +28% YoY 33% 34% YoY 80% -16% 67% +20% 66% YoY YoY FY 2009 FY 2010 FY CAGR of Sales from Emerging Markets: 43.9% CAGR of Sales from Mature Markets: 0.4% GEA Sales 2009 GEA Sales 2010 GEA Sales * Definition of Dow Jones and MSCI 23

24 GEA s global presence & target regions Calculation GEA Sales/GDP per country * Turkey China 50 Mexico Brazil 61 Vietnam Colombia India 84 Peru 89 Argentina Thailand Indonesia Chile All Segments Min. 3 Segments 1Segment Not present with own entity *Value for China = Index 100; Source: IMF WEO April. GEA Sales in EUR million and GDP USD trillion. 24

25 Growth in food industry Opportunities and challenges Growth Drivers Worldwide population and GDP growth Urbanization leading to different living and eating habits Growing demand for convenience food Increasing affluence leading to more spending on food Implication for Equipment Suppliers (like GEA) Favoring high level, full scope suppliers of internationally uniform quality Efficiency improvements expected Stricter hygienic standards and regulations Demand for low cost of ownership to cope with increasing input costs in production GEA as Full Scope Supplier Accelerating time to market of new or improved products GEA Group is a full scope supplier offering its customers energy efficient innovations and solutions 25

26 Agenda The GEA Group Results Backup 26

27 I. Key Figures Highlights Despite headwinds in the global economy, proved a good quarter overall for GEA GEA FS: base order intake stable GEA FT: sales up 10% organically, EBIT up 22% GEA HX: despite challenging markets outside food industry, order intake about flat yoy GEA ME: highest (20.8%) and Sep ytd (18.8%) margin ever, organic growth OI continuing GEA PE: highest (9.2%) and Sep ytd (7.6%) margin ever, organic growth OI continuing GEA RT: second highest yoy increase in order intake since 2008 despite sluggish demand from the transportation sector 27

28 I. Key Figures GEA Group Q1 YoY Order Intake +8% Sales* +8% ( w/o FS: +6%) 4,107 4,423 3,784 ( w/o FS: +8%) 4,101 1,403 +5% 1,477 +5% 1,397 +3% 1,446 +4% Q2 1,463-4% 1,401 Q2 1,349 +3% 1,391 Q1 1, % 1,545 Q1 +22% 1,038 1,264 Operating EBIT** +5% Operating EBIT-Margin** -25 bps ( w/o FS: +14%) ( w/o FS: +48 bps) 8.4% 8.2% +1% % 10,0% -27 bps 9,7% +118 bps Q2 Q % 119 8,1% +42 bps 8,6% Q % 75 Q1 6,6% -71 bps 5,9% * GEA FS Q1 sales diminished by one-time POC-related accounting adjustments of EUR 42m. Annual sales of GEA FS structurally lower by some EUR 45m in after divestiture of CFS Kempten GmbH in Dec. ** Before PPA and non-recurring items of EUR 36m in Q1 within GEA FS. 28

29 II. Performance Regional Order Intake Trend as of North America Western Europe Eastern Europe & CIS 12 Q2 12 Q1 12 Q QoQ: +1% w/o LO*: -10% YoY: -2% w/o LO*: -9% 12 Q2 12 Q1 12 Q QoQ: +1% w/o LO*: +1% YoY: +1% w/o LO*: -5% 12 Q2 12 Q1 12 Q QoQ: +40% w/o LO*: +10% YoY: +2% w/o LO*: +25% Latin America Asia Pacific 12 Q2 12 QoQ: -28% w/o LO*: -11% 12 Q2 12 QoQ: +5% w/o LO*: +1% Q1 12 Q YoY: -32% w/o LO*: +3% Q1 12 Q YoY: +6% w/o LO*: +10% Africa GEA Middle East 12 Q2 12 Q1 12 Q QoQ: +65% w/o LO*: +31% YoY: +123% w/o LO*: +57% 12 Q2 12 Q1 12 Q QoQ: +5% w/o LO*: +1% YoY: +5% w/o LO*: +3% 12 Q2 12 Q1 12 Q QoQ: -9% w/o LO*: -1% YoY: +49% w/o LO*: -1% * LO: large orders with volume of greater than EUR 5m are illustrated at the end of the bars. 29

30 II. Performance Regional Food Order Trend as of North America Western Europe Eastern Europe & CIS 12 Q2 12 Q1 12 Q QoQ: +12% w/o LO*: -9% YoY: +11% w/o LO*: -9% 12 Q2 12 Q1 12 Q QoQ: -2% w/o LO*: +9% YoY: +12% w/o LO*: +5% 12 Q2 12 Q1 12 Q QoQ: +33% w/o LO*: +10% YoY: -8% w/o LO*: +16% Latin America Asia Pacific 12 Q2 12 Q1 12 Q QoQ: -35% w/o LO*: -18% YoY: -55% w/o LO*: -24% 12 Q2 12 Q1 12 Q QoQ: +19% w/o LO*: +12% YoY: +15% w/o LO*: +34% Africa GEA Middle East 12 Q2 12 Q1 12 Q QoQ: +129% w/o LO*: +34% YoY: +157% w/o LO*: +51% 12 Q2 12 Q1 12 Q QoQ: +9% w/o LO*: +4% YoY: +6% w/o LO*: +7% 12 Q2 12 Q1 12 Q QoQ: -24% w/o LO*: -24% YoY: +1% w/o LO*: +1% * LO: large orders with volume of greater than EUR 5m are illustrated at the end of the bars. 30

31 II. Performance Large Order Development since Q orders up to EUR 5m stable: +4% yoy; +1% qoq 1, , , , , Q Q4 09 Q1 10 Q Q4 10 Q1 11 Q2 11 Q Q4 11 Q1 12 Q (w/o FS) (incl.fs) OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m 31

32 II. Performance Working Capital Development % % 16.4% 15.0% 13.9% 13.1% bps 12.4% 12.4% 12.4% 12.6% 12.6% 12.9% 13.3% 13.3% 16% 14% % % % 6% 4% 100 2% 0 09 Q4 09 Q1 10 Q Q4 10 Q1 11 Q Q4 11 Q1 12 Q % Working Capital Working Capital (average LTM) as % of Sales (LTM) 32

33 II. Performance Net Liquidity Reconciliation Cash Flow Drivers December 31, (386.8) Net Debt EBITDA (151.1) Working Capital (92.6) CAPEX (98.9) Interests / Taxes (67.0) Other (425.7) Net Debt before M&A, Dividend and One-offs (10.2) Cash out Restructuring (24.9) Discontinued Operations (59.7) Effects from Acquisitions (101.1) Dividend (621.7) Net Debt as of September 30 33

34 III. Outlook Key Figures FY Assuming that economic conditions do not deteriorate further, we are reiterating our previous business outlook for by aiming for an order intake growth: at least +5% a sales growth: at least +5% Operating EBIT-margin* bef. PPA at least on FY level of 9.7%* incl. GEA FS: * Before non-recurring items within GEA FS. 34

35

36 Agenda The GEA Group Results Backup 36

37 Backup: Key Figures Segments YoY Order Intake +5% Sales +3% GEA FS GEA FT GEA HX GEA ME GEA PE GEA RT GEA FS GEA FT GEA HX GEA ME GEA PE GEA RT 1,403 GEA FS -24% 1,477 1,397 1, % GEA FT % % % 375 GEA HX % % 245 GEA ME % % 469 GEA PE % % 200 GEA RT % % 31-17% EBIT bef. PPA +1% +26% % % 14-6 EBIT Margin bef. PPA YoY GEA FS 4.9% -7.1% n.a. GEA FT 8.7% 9.3% +58 bps GEA HX 8.9% 8.0% -95 bps GEA ME 19.2% 20.8% +159 bps GEA PE 8.8% 9.2% +47 bps GEA RT 7.2% 7.8% +67 bps GEA Group 10.0% 9.7% -27 bps 37

38 Backup: Performance GEA Group Order Intake vs. Q1- vs. Q1- vs. Q2 abs. in % abs. in % abs. in % Order Intake previous period Structural Change 1,403 4,107 1, % % 0 0.0% Currency Effects % % % Organic Development Order Intake current period % % % 1, % 4, % 1, % 38

39 Backup: Performance GEA Group Sales vs. Q1- vs. Q1- vs. Q2 abs. in % abs. in % abs. in % Sales previous period Structural Change 1,397 3,784 1, % % 0 0% Currency Effects % % % Organic Development Sales current period % % % 1, % 4, % 1, % 39

40 Backup: Performance GEA Group Regional Sales Split L4Q per Latin America abs.: +28% YoY Eastern Europe & CIS abs.: +17% YoY North America abs.: +27% YoY Middle East abs.: +18% YoY 10% (10%) 7% (6%) 15% (13%) Africa abs.: +3% YoY 5% (5%) 5% (6%) Sales L4Q per : EUR 5,732.7m +13% YoY 22% (22%) 35% (38%) Western Europe abs.: +5% YoY Top 3 Countries USA 14% (12%) abs.: +30% YoY Germany 10% (11%) abs.: -1% YoY China 10% (11%) abs.: -2% YoY Emerging markets* exposure: 32% (33%) abs.: +10% YoY (average of Dow Jones and MSCI definition*) Asia-Pacific abs.: +14% 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. 40

41 Backup: Performance GEA Group Order Intake by Customer Industry since Q4 2009* 260% 160% 220% 140% 180% 120% 140% 100% 100% 80% 60% Q4 09 Q1 10 Q Q4 10 Q1 11 Q Q4 11 Q1 12 Q % Q4 09 Q1 10 Q Q4 10 Q1 11 Q Q4 11 Q1 12 Q Food - Dairy Food - Solid incl. GEA FS GEA Group w/o GEA FS Food - Beverages Food - Solid w/o GEA FS Oil & Gas Climate & Environment +5% Power GEA Group w/o GEA FS 160% 1,403 1,477 Other Industries 140% 120% 100% 80% 60% Q4 09 Q1 10 Pharma Marine Q Q4 10 Q1 11 Q * Average last four quarters: Q1 Q = Index 100 Q4 11 Q1 12 Q Chemicals GEA Group w/o GEA FS 4% 4% 11% 12% 3% 3% 8% 6% 5% 6% 10% 7% 6% 6% 18% 14% Food exposure: 55% 18% 11% 22% 26% Δ+2% Δ+1% Δ-10% Δ+49% Δ+21% Δ-26% Δ+6% Δ+3% Δ-15% Δ+22% Climate & Environment Marine Chemicals Pharma Power Oil & Gas Food - Solid Food - Beverages Food - Dairy 41

42 Backup: Performance GEA Group Book to Bill Ratios by Industry/Region L4Q Book to bill ratio (L4Q) Western Europe Eastern Europe & CIS North America Latin America Africa Middle - East Asia - Pacific BtB % of OI BtB % of OI BtB % of OI BtB % of OI BtB % of OI BtB % of OI BtB % of OI BtB % of OI Total Food - Dairy % % % % % % % % Food - Liquid % % % % % % % % Food -Solid % % % % % % % % Total Food % % % % % % % % Oil & Gas % % % % % % % % Power % % % % % % % % Total Energy % % % % % % % % Pharma % % % % % % % % Chemicals % % % % % % % % Marine % % % % % % % % Climate & Environment % % % % % % % % Other Industries % % % % % % % % Other % % % % % % % % Total % % % % % % % % Color code: Only cross-sections with a share of > 1% of group order intake are coloured Book to Bill categories <= 0.8 > 0.8 and < 1.0 >= 1.2 > 1.0 and <

43 Backup: Performance GEA Group Top Line Trend / Order Backlog 3, , ,667 2,771 2,756 2,677 2,936 2,967 2,968 2, ,301 2,469 2,424 2,414 1,768 1,606 2, ,474 1, , ,150 1, Q1 10 Q Q4 10 Q1 11 Q Q4 11 Q1 12 Q Order Backlog invoicable in respective FY Order Intake Order Backlog invoicable after respective FY Sales # L4Q BtB ratio 43

44 Backup: Performance GEA Group Working Capital Development Trade Receivables Inventories Trade Payables Advance Payments Working Capital 1, _ Q2 0% 1,278-2% 848 _ -1% % 671-3% 764 Q % 1, % 743 _ % % % % 1,238-7% 799 _ +28% % %

45 Backup: Performance GEA Group Net Liquidity Reconciliation Cash Flow Drivers December 31, (386.8) Net Debt EBITDA (151.1) Working Capital (92.6) CAPEX (98.9) Interests / Taxes (67.0) Other (425.7) Net Debt before M&A, Dividend and One-offs (10.2) Cash out Restructuring (24.9) Discontinued Operations (59.7) Effects from Acquisitions (101.1) Dividend (621.7) Net Debt as of September 30 45

46 Backup: Performance GEA Group Financial Leeway Main Cash Credit Lines Cash credit lines per 31/12/ Cash credit lines per 30/09/ Successfull placement of a borrower s note loan of EUR 300 million with a maturity of five years in September leading to further optimization of GEA Groups financing structure Extension of the maturities schedule of GEA Groups financial liabilities => ~80 percent of GEA s financial liabilities will not become due before

47 Backup: Performance GEA Group Service Business Q1- Growth in service sales Q1- yoy: +18% to a total of EUR 890m Share of service sales Q1- : 21.7% (Q1- : 20.0%) +18% % % 22% +64% +21% % 24% 23% 30% +20% % 11% % % +13% % 14% +4% % 29% * GEA Group GEA FS GEA FT GEA HX GEA ME GEA PE GEA RT % Service business as % of sales * Calculated without one-time POC-related accounting adjustments of EUR 42m (in the denominator) 47

48 Backup: Performance GEA Segments GEA Food Solutions Order Intake thereof organic: Sales thereof organic: Operating EBIT before PPA n.a. Operating EBIT Margin before PPA (bps) n.a. * Most of /12 losses non-recurring one-offs Order Intake by Customer Industry Order Intake by Region 3% 4% Food & Beverage 100% 100% Δ-24% 19% 10% 21% 6% 8% 9% 13% 17% Δ+50% Δ+38% Δ-64% Δ+2% Δ-38% Middle-East Latin America Asia-Pacific Eastern Europe & CIS 42% 47% Δ-16% North America Western Europe 48

49 Backup: Performance GEA Segments GEA Food Solutions Q1- Order Intake Q thereof organic: n.a. Q1- Sales* Q thereof organic: n.a. Q1- Operating EBIT before PPA** Q1- * As reported in statements, after 42m POC-related accounting adjustments in Q1. Structural impact : divestiture of CFS Kempten in Dec. (45m p.a.) n.a. Operating EBIT Margin before PPA** Q1- Q1- (bps) n.a ** Before PPA and non-recurring items of EUR 36m in Q Rare large order Quarterly Large Order Development # Q Q4 11 Q1 12 Q OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m # Without orders from CFS Kempten, which was disposed in Dec.. 49

50 Backup: Performance GEA Segments GEA Food Solutions Update on Turnaround Actions to improve operational performance: New leaner organizational structure Headcount reduction by ~10% Streamlining of supply-chain-management including purchasing and supplier development Reducing lead times in the factories Launch of new product innovations in the mid term Short term headwind from sluggish industry demand: General uncertainty induces customers to hold CAPEX 50

51 Backup: Performance GEA Segments GEA Farm Technologies Order Intake Sales Operating EBIT before PPA Operating EBIT Margin before PPA (bps) thereof organic: +0.5 thereof organic: +9.6 Order Intake by Customer Industry Order Intake by Region 11% 7% 7% Δ-30% Δ-10% 9% 13% 20% Δ+53% Latin America Asia-Pacific Food & Beverages 100% 100% Δ+5% 30% 32% Δ+10% Eastern Europe & CIS North America 37% 34% Δ-4% Western Europe 51

52 Backup: Performance GEA Segments GEA Farm Technologies Q1- Order Intake Q1- Q1- Sales Q1- Q1- Operating EBIT before PPA Q1- Operating EBIT Margin before PPA Q1- Q1- (bps) thereof organic: +8.0 thereof organic: Quarterly Large Order Development Q1 09 Q Q4 09 Q1 10 Q Q4 10 Q1 11 Q Q4 11 Q1 12 Q OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m 52

53 Backup: Performance GEA Segments GEA Heat Exchangers Order Intake Sales Operating EBIT before PPA Operating EBIT Margin before PPA (bps) thereof organic: -0.5 thereof organic: -9.3 Order Intake by Customer Industry Order Intake by Region Marine Food Chemicals 5% 3% 5% 4% 6% 6% 5% 7% 14% 19% Δ-34% Δ+19% Δ+3% Δ+30% Δ+29% 2% 3% 3% 4% 8% 8% 18% 6% 11% 11% Δ+43% Δ+27% Δ-1% Δ-42% Δ+82% Latin America Africa North America Other Industries Oil & Gas 30% 23% Δ-25% 13% 16% Δ+18% Asia-Pacific Middle-East Power Climate & Environment 36% 37% Δ+2% 49% 47% Δ-6% Eastern Europe & CIS Western Europe 53

54 Backup: Performance GEA Segments GEA Heat Exchangers Q1- Order Intake Q1- Q1- Sales Q1- Q1- Operating EBIT before PPA Q1- Operating EBIT Margin before PPA Q1- Q1- (bps) 1, , , ,186, thereof organic: -6.4 thereof organic: Quarterly Large Order Development Q1 09 Q Q4 09 Q1 10 Q Q4 10 Q1 11 Q Q4 11 Q1 12 Q OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m 54

55 Backup: Performance GEA Segments GEA Mechanical Equipment Order Intake Sales Operating EBIT before PPA Operating EBIT Margin before PPA (bps) thereof organic: +4.7 thereof organic: Order Intake by Customer Industry Oil & Gas Pharma Climate & Environment Chemicals Power Marine Food 6% 5% 6% 5% 6% 4% 5% 6% 8% 10% 11% 12% 61% 54% Δ-17% Δ+12% Δ+25% Δ+108% Δ+91% Δ+18% Δ-1% Order Intake by Region 2% 6% 9% 6% 19% 31% 27% 2% 5% 9% 11% 19% 26% 29% Δ+8% Δ-11% Δ+7% Δ+104% Δ+9% Δ-5% Δ+21% Africa Eastern Europe & CIS Latin America Middle-East North America Asia-Pacific Western Europe 55

56 Backup: Performance GEA Segments GEA Mechanical Equipment Q1- Order Intake Q1- Q1- Sales Q1- Q1- Operating EBIT before PPA Q1- Operating EBIT Margin before PPA Q1- Q1- (bps) thereof organic: +2.9 thereof organic: Quarterly Large Order Development Q1 09 Q Q4 09 Q1 10 Q Q4 10 Q1 11 Q Q4 11 Q1 12 Q OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m 56

57 Backup: Performance GEA Segments GEA Process Engineering Order Intake Sales Operating EBIT before PPA Operating EBIT Margin before PPA (bps) thereof organic: +4.4 thereof organic: +1.5 Order Intake by Customer Industry Order Intake by Region Other Industries Climate & Environment Chemicals Pharma Food 2% 3% 9% 15% 67% 2% 3% 11% 16% 66% Δ+14% Δ+7% Δ+30% Δ+21% Δ+8% 4% 13% 14% 2% 13% 27% 28% 3% 4% 5% 10% 12% 25% 41% Δ-8% Δ-64% Δ-63% Δ+392% Δ+0% Δ+3% Δ+57% Middle-East Latin America Eastern Europe & CIS Africa North America Western Europe Asia-Pacific 57

58 Backup: Performance GEA Segments GEA Process Engineering Q1- Order Intake Q1- Q1- Sales Q1- Q1- Operating EBIT before PPA Q1- Operating EBIT Margin before PPA Q1- Q1- (bps) 1, , , , thereof organic: +5.0 thereof organic: Quarterly Large Order Development Q1 09 Q Q4 09 Q1 10 Q Q4 10 Q1 11 Q Q4 11 Q1 12 Q OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m 58

59 Backup: Performance GEA Segments GEA Refrigeration Technologies Order Intake Sales Operating EBIT before PPA Operating EBIT Margin before PPA (bps) thereof organic: thereof organic: +2.3 Order Intake by Customer Industry Order Intake by Region Marine Climate & Environment Oil & Gas 4% 7% 13% 15% 5% 2% 4% 6% 10% 11% Δ-45% Δ-36% Δ-49% Δ-23% Δ+208% 2% 5% 13% 8% 20% 2% 4% 9% 11% 12% 22% Δ-6% Δ-1% Δ-11% Δ+59% Δ-25% Δ+118% Latin America Middle-East North America Africa Other Industries Chemicals 53% 66% Δ+48% 12% 40% 40% Δ+20% Asia-Pacific Eastern Europe & CIS Food Western Europe 59

60 Backup: Performance GEA Segments GEA Refrigeration Technologies Q1- Order Intake Q1- Q1- Sales Q1- Q1- Operating EBIT before PPA Q1- Operating EBIT Margin before PPA Q1- Q1- (bps) thereof organic: +9.7 thereof organic: Quarterly Large Order Development Q1 09 Q Q4 09 Q1 10 Q Q4 10 Q1 11 Q Q4 11 Q1 12 Q OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m 60

61 Backup: Outlook Additional Financial Information for Impact from PPA in and in subsequent years: Working Capital LTM: Interest result: around EUR 25m p.a. thereof GEA FS around EUR 14m p.a. approx. 12% - 14% of sales LTM Interest rate for financial liabilities (excl. pensions) below 4% p.a. Tax rate in P&L after impact from tax around 22.5% loss carry forwards: Capex in FY : Mid term target for Capex: up to 3.0% of sales due to special projects in particular within GEA ME around 2.0% of sales Appraisal procedure / capital increase: Maximum Ø of GEA shares in FY : million shares 61

62 Backup: Outlook Share Dilution from Settling 1999 Appraisal Proceedings Settlement (of 31 Jan ) became effective on 11 June Appraisal proceedings now officially terminated The settlement awarded: up to 13.4m ( GEA new ) shares to former shareholders of GEA Aktiengesellschaft ( GEA old ) the option to former ( GEA old ) squeeze-out shareholders to trade in the squeeze-out cash compensation formerly received (max. 1.7m new shares concerned) has been expired without almost no share issuance Shares are now being issued in 3 tranches: 16 Jul : ca. 2.1m shares issued upon request 3 Sep : ca. 2.0m shares issued upon request 3 Dec : distribution of last tranche 62

63 Investor Relations Calendar Upcoming Roadshows and Conferences November 6-7, Roadshow France Paris November 7, Roadshow UK London November 8, Roadshow Denmark Copenhagen November 8, Roadshow Italy Milan November 13-14, Conferences Germany Frankfurt November 20, Roadshow Germany Munich November 26-27, Roadshow/Conference Switzerland Geneva/Zurich December 3-6, Roadshow/Conferences UK Dublin/Edinburgh/London December 4, Roadshow France Paris January 14-16, 2013 Conference USA New York January 22-23, 2013 Conference Germany Frankfurt 63

64 Financial Calendar February 6, 2013 Preliminary FY March 11, 2013 Annual Report FY April 18, 2013 Annual General Meeting May 8, 2013 Interim Report Q July 30, 2013 Interim Report Q October 31, 2013 Interim Report

65 Backup: Performance GEA Group & Segments Key Figures Time Line (1/5) Order Intake [In EUR million] Q1 08 Q Q Q1 09 Q Q GEA Food Solutions 1) GEA Farm Technologies GEA Heat Exchangers , ,418.7 GEA Mechanical Equipment GEA Process Engineering , ,148.3 GEA Refrigeration Technologies GEA Group 1, , , , , , , , ,080.7 Order Backlog [In EUR million] Q1 08 Q Q Q1 09 Q Q GEA Food Solutions 1) n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. GEA Farm Technologies GEA Heat Exchangers 1, , , , , , , , , ,008.6 GEA Mechanical Equipment GEA Process Engineering GEA Refrigeration Technologies GEA Group 2, , , , , , , , , ,164.1 Sales Q1 08 Q Q Q1 09 Q Q GEA Food Solutions 1) GEA Farm Technologies GEA Heat Exchangers , ,623.4 GEA Mechanical Equipment GEA Process Engineering , ,144.0 GEA Refrigeration Technologies GEA Group 1, , , , , , , , , ,411.2 EBITDA before PPA & restructuring 2) Q1 08 Q Q Q1 09 Q Q GEA Food Solutions 1) GEA Farm Technologies GEA Heat Exchangers GEA Mechanical Equipment GEA Process Engineering GEA Refrigeration Technologies GEA Group EBITDA-Margin before PPA & restructuring 2) [in %] Q1 08 Q Q Q1 09 Q Q GEA Food Solutions 1) -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% 65

66 Backup: Performance GEA Group & Segments Key Figures Time Line (2/5) Order Intake [In EUR million] Q1 10 Q Q Q1 11 Q Q4 11 Q1 12 Q GEA Food Solutions 1) GEA Farm Technologies GEA Heat Exchangers , , GEA Mechanical Equipment GEA Process Engineering , , GEA Refrigeration Technologies GEA Group 1, , , , , , , , , , , , ,477.3 Order Backlog [In EUR million] Q1 10 Q Q Q1 11 Q Q4 11 Q1 12 Q GEA Food Solutions 1) n.a. n.a. n.a. n.a. n.a GEA Farm Technologies GEA Heat Exchangers 1, , , , , , , , , , , , ,045.5 GEA Mechanical Equipment GEA Process Engineering , , ,142.5 GEA Refrigeration Technologies GEA Group 2, , , , , , , , , , , , ,967.8 Sales Q1 10 Q Q Q1 11 Q Q4 11 Q1 12 Q GEA Food Solutions 1) GEA Farm Technologies GEA Heat Exchangers , , GEA Mechanical Equipment GEA Process Engineering , , GEA Refrigeration Technologies GEA Group , , , , , , , , , , , ,445.6 EBITDA before PPA & restructuring 2) Q1 10 Q Q Q1 11 Q Q4 11 Q1 12 Q GEA Food Solutions 1) GEA Farm Technologies GEA Heat Exchangers GEA Mechanical Equipment GEA Process Engineering GEA Refrigeration Technologies GEA Group EBITDA-Margin before PPA & restructuring 2) [in %] Q1 10 Q Q Q1 11 Q Q4 11 Q1 12 Q GEA Food Solutions 1) 13.4% 10.3% 5.9% 6.6% 9.1% 5.5% 6.0% 7.1% 9.2% 7.6% -81.8% -0.7% -5.3% GEA Farm Technologies 4.4% 5.7% 9.9% 12.0% 8.5% 5.0% 7.1% 10.8% 10.9% 8.9% 4.2% 8.5% 11.3% GEA Heat Exchangers 9.7% 9.3% 10.5% 11.5% 10.3% 8.7% 9.0% 11.1% 10.5% 9.9% 8.4% 8.9% 9.6% GEA Mechanical Equipment 15.8% 15.5% 19.5% 23.3% 18.8% 17.1% 21.5% 21.2% 24.1% 21.2% 18.6% 20.6% 22.5% GEA Process Engineering 5.7% 6.9% 7.0% 12.0% 8.3% 6.6% 8.1% 9.8% 14.8% 10.3% 5.4% 9.8% 10.1% GEA Refrigeration Technologies 3.2% 6.1% 6.6% 9.2% 6.6% 6.7% 8.7% 8.5% 12.4% 9.3% 7.3% 8.1% 9.0% GEA Group 8.3% 9.2% 10.5% 13.1% 10.5% 8.9% 10.1% 11.9% 14.4% 11.6% 5.1% 10.3% 11.3% 66

67 Backup: Performance GEA Group & Segments Key Figures Time Line (3/5) EBIT before PPA & restructuring 2) Q1 08 Q Q Q1 09 Q Q GEA Food Solutions 1) GEA Farm Technologies GEA Heat Exchangers GEA Mechanical Equipment GEA Process Engineering GEA Refrigeration Technologies GEA Group EBIT-Margin before PPA & restructuring 2) [in %] Q1 08 Q Q Q1 09 Q Q GEA Food Solutions 1) -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 Heat Exchangers 9.2% 11.0% 12.1% 13.7% 11.7% 7.4% 7.1% 9.9% 11.1% 8.9% GEA Mechanical Equipment 13.8% 15.7% 14.0% 18.8% 15.6% 11.6% 10.8% 15.1% 18.8% 14.0% GEA Process Engineering 2.9% 5.9% 6.9% 10.9% 6.8% 3.0% 5.0% 6.5% 11.3% 6.6% GEA Refrigeration Technologies 4.5% 6.3% 6.9% 8.7% 6.8% 2.0% 4.8% 2.1% 5.6% 3.7% 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 2) Q1 08 Q Q Q1 09 Q Q GEA Food Solutions 1) n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. GEA Farm Technologies GEA Heat Exchangers GEA Mechanical Equipment GEA Process Engineering GEA Refrigeration Technologies GEA Group Capital Employed w/o goodwill 3) (average LTM) Q1 08 Q Q Q1 09 Q Q GEA Food Solutions 1) 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 GEA Heat Exchangers n.a. n.a. n.a GEA Mechanical Equipment n.a. n.a. n.a GEA Process Engineering n.a. n.a. n.a GEA Refrigeration Technologies n.a. n.a. n.a GEA Group n.a. n.a. n.a. 1, , , , , , ,835.9 ROCE w/o goodwill 4) LTM [in%] Q1 08 Q Q Q1 09 Q Q GEA Food Solutions 1) 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% 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% 67

68 Backup: Performance GEA Group & Segments Key Figures Time Line (4/5) EBIT before PPA & restructuring 2) Q1 10 Q Q Q1 11 Q Q4 11 Q1 12 Q GEA Food Solutions 1) GEA Farm Technologies GEA Heat Exchangers GEA Mechanical Equipment GEA Process Engineering GEA Refrigeration Technologies GEA Group EBIT-Margin before PPA & restructuring 2) [in %] Q1 10 Q Q Q1 11 Q Q4 11 Q1 12 Q GEA Food Solutions 1) 9.4% 7.0% 1.7% 3.0% 5.3% 2.5% 3.8% 4.9% 7.8% 5.7% -85.7% -1.8% -7.1% GEA Farm Technologies 1.2% 2.9% 7.4% 9.9% 5.9% 2.1% 4.7% 8.7% 9.1% 6.6% 1.6% 6.2% 9.3% GEA Heat Exchangers 7.2% 6.8% 8.1% 9.8% 8.0% 6.1% 6.8% 8.9% 7.9% 7.5% 6.2% 6.8% 8.0% GEA Mechanical Equipment 13.3% 13.1% 17.4% 19.7% 16.1% 14.9% 19.5% 19.2% 22.4% 19.2% 16.8% 18.8% 20.8% GEA Process Engineering 4.5% 5.8% 6.0% 11.1% 7.2% 5.5% 7.2% 8.8% 14.0% 9.4% 4.4% 8.9% 9.2% GEA Refrigeration Technologies 1.6% 4.6% 5.3% 8.1% 5.2% 5.3% 7.4% 7.2% 11.0% 7.9% 5.8% 6.7% 7.8% GEA Group 5.8% 6.9% 8.4% 11.2% 8.3% 6.6% 8.1% 10.0% 12.6% 9.7% 3.1% 8.6% 9.7% EBIT before restructuring 2) Q1 10 Q Q Q1 11 Q Q4 11 Q1 12 Q GEA Food Solutions 1) n.a. n.a. n.a. n.a. n.a. n.a GEA Farm Technologies GEA Heat Exchangers GEA Mechanical Equipment GEA Process Engineering GEA Refrigeration Technologies GEA Group Capital Employed w/o goodwill 3) (average LTM) Q1 10 Q Q Q1 11 Q Q4 11 Q1 12 Q GEA Food Solutions 1) n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a GEA Farm Technologies GEA Heat Exchangers GEA Mechanical Equipment GEA Process Engineering GEA Refrigeration Technologies GEA Group 1, , , , , , , , , , , , ,548.2 ROCE w/o goodwill 4) LTM [in%] Q1 10 Q Q Q1 11 Q Q4 11 Q1 12 Q GEA Food Solutions 1) n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a % -8.9% -10.8% GEA Farm Technologies 8.2% 6.7% 6.6% 8.4% 8.4% 8.6% 9.5% 10.5% 10.4% 10.4% 10.2% 10.8% 11.4% GEA Heat Exchangers 19.4% 19.4% 18.5% 17.0% 17.0% 16.2% 16.3% 17.4% 17.0% 17.0% 17.6% 17.8% 17.2% GEA Mechanical Equipment 28.0% 30.6% 35.2% 38.6% 38.6% 40.8% 45.9% 46.4% 49.0% 49.0% 48.9% 45.1% 44.2% GEA Process Engineering 32.1% 34.1% 34.6% 38.2% 38.2% 40.5% 45.2% 50.9% 58.7% 58.7% 53.4% 53.0% 53.2% GEA Refrigeration Technologies 7.7% 8.1% 11.2% 15.9% 15.9% 19.0% 20.3% 20.5% 20.6% 20.6% 19.8% 19.2% 19.7% GEA Group 18.5% 18.8% 19.3% 20.4% 20.4% 20.6% 19.4% 19.6% 20.5% 20.5% 17.9% 18.8% 18.6% 68

69 Backup: Performance GEA Group & Segments Key Figures Time Line (5/5): Remarks 1) All historical figures for GEA FS before Q2 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 are not included in the Group-numbers of the corresponding period. 2) Restructuring only in FY 2009 and FY ) Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in ) ROCE LTM = EBIT before restructuring (LTM) / Capital employed (average LTM) excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in figures adjusted due to change in accounting policy for pension obligations and leasing obligations. 69

70 ADR Information GEA Group has a sponsored level I ADR program Ratio: 1 ADR = 1 Ordinary share Bloomberg ticker: GEAGY:US CUSIP: ISIN: US Depositary bank: Deutsche Bank Trust Company Americas Depositary bank contacts: ADR broker helpline Tel: (New York) Tel: (London) adr@db.com and website: Depositary bank s local custodian: Deutsche Bank Frankfurt 70

71 Investor Relations Contact: Donat von Müller Axel Wolferts Bianca Li