gea%20group%20conference%20call%20q3%202012 tcm30 25554
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http://www.gea.com/global/de/binaries/GEA%20Group%20Conference%20Call%20Q3%202012_tcm30-25554.pdfTRANSCRIPT
GEA Group
Düsseldorf, October 29, 2012
Conference Call Q3 2012
engineering for a better world
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 2012, the segment, GEA Convenience-Food Technologies (GEA CT), is
renamed as GEA Food Solutions (GEA FS).
2 Conference Call Q3 2012 - October 29, 2012
engineering for a better world
Order Intake
EUR 1,477m Pages 6,7 GEA Group: +5% yoy; +5% qoq;
Sales
EUR 1,446m Pages 6,7 GEA Group: +3% yoy; +4% qoq
Operating EBIT
EUR 141m Pages 6,7
GEA Group: +1% yoy
w/o GEA FS: +10% yoy
Outlook 2012 Pages 33,34 Guidance confirmed
Key Messages Q3 2012
3 Conference Call Q3 2012 - October 29, 2012
Operating EBIT-Margin Pages 6,7 GEA Group: 9.7%; -27 bps yoy
w/o GEA FS: 10.9%; +41 bps yoy
Book to Bill Ratio Pages 14,15 GEA Group:
Q3 2012 : 1.02; L4Q: 1.03;
Appraisal proceedings /
capital increase
Issuance of 4,061,306 shares during Q3 2012
in two tranches Page 35
Financing structure Page 18 Successful placement of a borrower’s note
loan of EUR 300m with a maturity of five years
Update on GEA FS
Turnaround Pages 20-22
Q3 losses of EUR 6.4m mainly caused by
one-offs
engineering for a better world
Agenda
4
January – September 2012
I. Key Figures
II. Performance
Backup
Performance GEA Group and Segments
Conference Call Q3 2012 - October 29, 2012
III. Outlook
engineering for a better world
Despite headwinds in the global economy,Q3 proved a good quarter
overall for GEA
I. Key Figures Highlights Q3 2012
5 Conference Call Q3 2012 - October 29, 2012
GEA FS: base order intake stable
GEA FT: Q3 sales up 10% organically, EBIT up 22%
GEA HX: despite challenging markets outside food industry, order intake
about flat yoy
GEA ME: highest Q3 (20.8%) and Sep ytd (18.8%) margin ever, organic
growth OI continuing
GEA PE: highest Q3 (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
engineering for a better world
69 75
110 119
140 141
2011 2012
Q3
Q2
Q1 6.6% 5.9%
8.1% 8.6%
10.0% 9.7%
2011 2012
Q3
Q2
Q1
1,038 1,264
1,349 1,391
1,397 1,446
2011 2012
Q3
Q2
Q11,242 1,545
1,463 1,401
1,403 1,477
2011 2012
Q3
Q2
Q1
6
[in EUR million]
I. Key Figures GEA Group Q1 – Q3 2012 YoY
Conference Call Q3 2012 - October 29, 2012
Order Intake
+8%
( w/o FS: +6%)
Sales*
+8%
( w/o FS: +8%)
Operating EBIT**
+5%
( w/o FS: +14%)
* GEA FS Q1 2012 sales diminished by one-time POC-related accounting adjustments of EUR 42m. Annual sales of GEA FS structurally lower by some EUR 45m in 2012 after
divestiture of CFS Kempten GmbH in Dec. 2011 ** Before PPA and non-recurring items of EUR 36m in Q1 2012 within GEA FS.
4,107 4,423
-4%
+24%
+5%
3,784 4,101
+3%
+22%
+4%
318 335
+8%
+9%
+18%
Operating EBIT-Margin**
-25 bps
( w/o FS: +48 bps)
8.4%
+42 bps
-71 bps
8.2%
+5% +3%
+1% -27 bps +118 bps
engineering for a better world
Q3 2011 Q3 2012 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
165 200
433 469
222 245
370 375
140 147 108 82
Q3 2011 Q3 2012
GEA FS
GEA FT
GEA HX
GEA ME
GEA PE
GEA RT
12 14
35 39
39 50
38 31
12 15 5
-6 Q3 2011 Q3 2012
GEA FS
GEA FT
GEA HX
GEA ME
GEA PE
GEA RT
166 177
395 424
205 239
424 392
138 158 112 90
Q3 2011 Q3 2012
GEA FS
GEA FT
GEA HX
GEA ME
GEA PE
GEA RT
7
I. Key Figures Segments Q3 2012 YoY
+26%
-17%
+13%
[in EUR million]
+22%
Conference Call Q3 2012 - October 29, 2012
Order Intake
+5%
Sales
+3%
1,403 1,477 1,397 1,446
EBIT bef. PPA +1%
140 141
+11%
+1%
+8%
+21%
+5%
-24%
+16%
-8%
+7%
+6%
+14%
-20%
+16%
EBIT Margin bef. PPA
engineering for a better world
II. Performance Order Intake Q3 2012
8
[in EUR million]
Conference Call Q3 2012 - October 29, 2012
Q3 2012 vs.
Q3 2011
Q1-Q3 2012 vs.
Q1-Q3 2011
Q3 2012 vs.
Q2 2012
Order Intake
previous period 1,403 4,107 1,401
Structural
Change -5 -0.4% +140 +3.4% 0 0.0%
Currency Effects +47 +3.4% +114 +2.8% +14 +1.0%
Organic
Development +32 +2.3% +62 +1.5% +62 +4.4%
Order Intake
current period 1,477 +5.3% 4,423 +7.7% 1,477 +5.4%
∆ abs. ∆ in %
∆ abs. ∆ in %
∆ abs. ∆ in %
engineering for a better world
0 100 200 300 400 500 600
Q3 11
Q4 11
Q1 12
Q2 12
Q3 12
9
II. Performance Regional Order Intake Trend as of Q3 2012
0 400 800 1200 1600
Q3 11
Q4 11
Q1 12
Q2 12
Q3 12
0 100 200 300 400 500 600
Q3 11
Q4 11
Q1 12
Q2 12
Q3 12
0 100 200 300 400 500 600
Q3 11
Q4 11
Q1 12
Q2 12
Q3 12
0 100 200 300 400 500 600
Q3 11
Q4 11
Q1 12
Q2 12
Q3 12
0 100 200 300 400 500 600
Q3 11
Q4 11
Q1 12
Q2 12
Q3 12
0 100 200 300 400 500 600
Q3 11
Q4 11
Q1 12
Q2 12
Q3 12
0 100 200 300 400 500 600
Q3 11
Q4 11
Q1 12
Q2 12
Q3 12
[in EUR million]
Conference Call Q3 2012 - October 29, 2012
Eastern Europe & CIS Western Europe
Middle East
* LO: large orders with volume of greater than EUR 5m are illustrated at the end of the bars.
GEA
Latin America
North America
Africa
Asia Pacific
∆ QoQ: +1%
w/o LO*: -10%
∆ YoY: -2%
w/o LO*: -9%
∆ QoQ: -28%
w/o LO*: -11%
∆ YoY: -32%
w/o LO*: +3%
∆ QoQ: +65%
w/o LO*: +31%
∆ YoY: +123%
w/o LO*: +57%
∆ QoQ: +40%
w/o LO*: +10%
∆ YoY: +2%
w/o LO*: +25%
∆ QoQ: +5%
w/o LO*: +1%
∆ YoY: +6%
w/o LO*: +10%
∆ QoQ: -9%
w/o LO*: -1%
∆ YoY: +49%
w/o LO*: -1%
∆ QoQ: +1%
w/o LO*: +1%
∆ YoY: +1%
w/o LO*: -5%
∆ QoQ: +5%
w/o LO*: +1%
∆ YoY: +5%
w/o LO*: +3%
engineering for a better world
0 100 200 300
Q3 11
Q4 11
Q1 12
Q2 12
Q3 12
10
II. Performance Regional Food Order Trend as of Q3 2012
0 300 600 900
Q3 11
Q4 11
Q1 12
Q2 12
Q3 12
0 100 200 300
Q3 11
Q4 11
Q1 12
Q2 12
Q3 12
0 100 200 300
Q3 11
Q4 11
Q1 12
Q2 12
Q3 12
0 100 200 300
Q3 11
Q4 11
Q1 12
Q2 12
Q3 12
0 100 200 300
Q3 11
Q4 11
Q1 12
Q2 12
Q3 12
0 100 200 300
Q3 11
Q4 11
Q1 12
Q2 12
Q3 12
0 100 200 300
Q3 11
Q4 11
Q1 12
Q2 12
Q3 12
[in EUR million]
Conference Call Q3 2012 - October 29, 2012
* LO: large orders with volume of greater than EUR 5m are illustrated at the end of the bars.
∆ QoQ: +12%
w/o LO*: -9%
∆ YoY: +11%
w/o LO*: -9%
∆ QoQ: -35%
w/o LO*: -18%
∆ YoY: -55%
w/o LO*: -24%
∆ QoQ: +129%
w/o LO*: +34%
∆ YoY: +157%
w/o LO*: +51%
∆ QoQ: +33%
w/o LO*: +10%
∆ YoY: -8%
w/o LO*: +16%
∆ QoQ: +19%
w/o LO*: +12%
∆ YoY: +15%
w/o LO*: +34%
∆ QoQ: -24%
w/o LO*: -24%
∆ YoY: +1%
w/o LO*: +1%
∆ QoQ: -2%
w/o LO*: +9%
∆ YoY: +12%
w/o LO*: +5%
∆ QoQ: +9%
w/o LO*: +4%
∆ YoY: +6%
w/o LO*: +7%
Eastern Europe & CIS Western Europe
Middle East GEA
Latin America
North America
Africa
Asia Pacific
engineering for a better world
704 662 673 739 777 767 812
877 905 991 954 916
1,012 977 966
123 140 156
203 210 185
220 211
214
231 228
241
275 238 265
128 59
105
52 88
95
69 82
178
178 161 183
129
114 132
80
101 76
16
93 106
146 72
63
63 60
162 130
72 114
0
200
400
600
800
1,000
1,200
1,400
1,600
Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11(w/o FS)
Q2 11(incl.FS)
Q3 11 Q4 11 Q1 12 Q2 12 Q3 12
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
II. Performance Large Order Development since Q2 2009
11
[in EUR million]
Conference Call Q3 2012 - October 29, 2012
1,600
1,400
1,200
1,000
Q3 2012 orders up to EUR 5m stable: +4% yoy; +1% qoq
engineering for a better world
35% (38%)
22% (22%)
15% (13%)
10% (10%)
7% (6%)
5% (5%)
5% (6%)
Emerging markets*
exposure: 32% (33%) abs.: +10% YoY
(average of Dow Jones and MSCI
definition*)
Sales L4Q per
Q3 2012:
EUR 5,732.7m +13% YoY
II. Performance Regional Sales Split L4Q per Q3 2012
12
Germany
10% (11%)
abs.: -1% YoY
USA
14% (12%) abs.: +30% YoY
China
10% (11%) abs.: -2% YoY
Top 3 Countries
Western Europe abs.: +5% YoY
Asia-Pacific abs.: +14% YoY
North America
abs.: +27% YoY
Latin America abs.: +28% YoY
Eastern Europe
& CIS abs.: +17% YoY
Middle East abs.: +18% YoY
Africa abs.: +3% YoY
Conference Call Q3 2012 - October 29, 2012
* 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.
engineering for a better world
22% 26%
14% 11%
18% 18%
6% 6%
10% 7% 5% 6% 6%
8% 3% 3% 12%
11% 4%
4%
Q3 2011 Q3 2012
Other Industries
Climate &EnvironmentMarine
Chemicals
Pharma
Power
Oil & Gas
Food - Solid
Food - Beverages
Food - Dairy
13
II. Performance Order Intake by Customer Industry since Q4 2009*
* Average last four quarters: Q1 – Q4 2009 = Index 100
Δ+22%
Δ+1%
Δ+3%
Δ-15%
Δ-26%
Δ+6%
Δ+49% Δ+21%
Δ+2%
Δ-10%
+5%
1,403 1,477
Conference Call Q3 2012 - October 29, 2012
60%
100%
140%
180%
220%
260%
Q409
Q110
Q210
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Food - Dairy Food - Beverages
Food - Solid incl. GEA FS Food - Solid w/o GEA FS
GEA Group w/o GEA FS
60%
80%
100%
120%
140%
160%
Q409
Q110
Q210
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Pharma Chemicals
Marine GEA Group w/o GEA FS
60%
80%
100%
120%
140%
160%
Q409
Q110
Q210
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Oil & Gas Power
Climate & Environment GEA Group w/o GEA FS
Food
exposure:
55%
engineering for a better world
Book to bill ratio (L4Q)
Q3 2012
Food - Dairy 1.06 8.0% 1.08 2.4% 1.11 5.6% 1.05 2.1% 2.52 0.9% 0.93 0.6% 1.01 6.0% 1.08 25.6%
Food - Liquid 1.13 2.3% 0.64 1.0% 1.21 1.3% 0.35 0.4% 1.69 0.6% 0.63 0.2% 1.13 3.5% 0.97 9.2%
Food -Solid 1.07 7.9% 1.19 1.9% 1.01 3.0% 1.19 1.3% 0.93 1.1% 1.10 0.8% 1.17 3.4% 1.09 19.3%
Total Food 1.07 18.2% 0.99 5.2% 1.09 9.9% 0.89 3.8% 1.38 2.6% 0.96 1.6% 1.08 12.8% 1.06 54.1%
Oil & Gas 1.06 1.0% 2.81 1.5% 1.21 1.1% 0.47 0.4% 1.16 0.4% 0.61 0.5% 0.91 1.3% 1.06 6.1%
Power 0.82 2.5% 0.27 0.2% 0.73 0.8% 0.82 0.6% 0.38 0.8% 1.13 1.9% 1.74 3.1% 0.88 9.9%
Total Energy 0.88 3.5% 1.27 1.7% 0.95 1.9% 0.62 1.0% 0.50 1.2% 0.97 2.4% 1.38 4.4% 0.94 16.1%
Pharma 1.04 1.9% 1.02 0.5% 0.87 0.8% 1.26 0.2% 0.64 0.1% 0.98 0.2% 1.46 1.9% 1.11 5.6%
Chemicals 1.22 1.7% 1.07 0.4% 0.79 1.0% 1.38 0.5% 0.24 0.0% 2.35 0.6% 1.17 2.1% 1.14 6.3%
Marine 0.96 1.2% 1.16 0.1% 0.94 0.1% 1.41 0.1% 0.91 0.0% 0.78 0.0% 0.93 1.4% 0.96 2.9%
Climate & Environment 0.98 6.8% 0.92 1.6% 1.33 0.9% 0.85 0.2% 1.37 0.2% 0.92 0.4% 1.08 0.9% 1.00 10.9%
Other Industries 0.91 1.6% 1.21 0.5% 1.15 0.5% 1.28 0.3% 0.84 0.1% 0.94 0.1% 0.74 0.9% 0.93 4.1%
Other 1.00 13.2% 1.00 3.1% 0.97 3.2% 1.24 1.3% 0.82 0.4% 1.28 1.3% 1.08 7.3% 1.03 29.8%
Total 1.02 34.9% 1.03 10.1% 1.04 15.0% 0.88 6.1% 0.87 4.3% 1.03 5.3% 1.12 24.5% 1.03 100.0%
TotalWestern
Europe
Eastern
Europe & CIS
North
America
Latin America Africa Middle - East Asia - Pacific
II. Performance Book to Bill Ratios by Industry/Region L4Q
14 Conference Call Q3 2012 - October 29, 2012
<= 0.8 > 0.8 and < 1.0 >= 1.2 > 1.0 and < 1.2
Color code: Only cross-sections with a share of > 1% of group order intake are coloured
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
engineering for a better world
0
500
1000
1500
2000
2500
3000
3500
Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12
Order Backlog invoicable in respective FY Order Backlog invoicable after respective FY
Order Intake Sales
3,000
2,500
2,000
1,500
1,000
500
0
3,500
15
II. Performance Top Line Trend / Order Backlog
2,968
2,301
2,469 2,424 2,414
2,667 2,771
2,936
[in EUR million]
Conference Call Q3 2012 - October 29, 2012
2,967
2,677 2,756
L4Q BtB ratio
950
1,474
1,150
1,606
1,200
1,768
1.00 1.04 1.06 1.06 1.03 1.03 0.94 0.98 1.06 1.04 1.04
#
engineering for a better world
657
482
567 555 566
445
647 707 720
577
772 764 741
17.2%
16.4% 15.0%
13.9%
13.1% 12.4% 12.4% 12.4% 12.6% 12.6%
12.9% 13.3% 13.3%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
0
100
200
300
400
500
600
700
800
900
Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12
Working Capital Working Capital (average LTM) as % of Sales (LTM)
16
II. Performance Working Capital Development
[in EUR million]
- 391 bps
Conference Call Q3 2012 - October 29, 2012
engineering for a better world
II. Performance Net Liquidity Reconciliation – Cash Flow Drivers
17 Conference Call Q3 2012 - October 29, 2012
[in EUR million]
(386.8) December 31, 2011
Working Capital
(621.7)
(151.1)
(98.9)
370.6
Net Debt
EBITDA
Interests / Taxes
(92.6) CAPEX
(67.0) Other
Net Debt before M&A, Dividend and One-offs (425.7)
Net Debt as of September 30 2012
(59.7) Effects from Acquisitions
(24.9) Discontinued Operations
(10.2) Cash out Restructuring
Dividend (101.1)
engineering for a better world
II. Performance Financial Leeway – Main Cash Credit Lines
18 Conference Call Q3 2012 - October 29, 2012
Cash credit lines per 31/12/2011 Cash credit lines per 30/09/2012
[in EUR million]
• Successfull placement of a borrower’s note loan of EUR 300 million with a maturity of five
years in September 2012 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 2016
engineering for a better world 19
II. Performance Service Business Q1-Q3 2012
757
64 82
126
201
146 138
890
105 99
151
227
165 143
GEA Group GEA FS GEA FT GEA HX GEA ME GEA PE GEA RT
2011 2012 Service business as % of sales
Growth in service sales Q1-Q3 2012 yoy: +18% to a total of EUR 890m
Share of service sales Q1-Q3 2012: 21.7% (Q1-Q3 2011: 20.0%)
23%
+18%
+21%
+4%
%
24%
20%
22%
37% 11%
13%
33%
34%
14% 14%
30% 29%
[in EUR million]
+13%
+13% +20%
30%
* Calculated without one-time POC-related accounting adjustments of EUR 42m (in the denominator)
*
+64%
Conference Call Q3 2012 - October 29, 2012
engineering for a better world 20
II. Performance GEA Food Solutions
Order Intake
Q3
2011
Q3
2012 ∆
(%)
107.9 81.7 -24.2
thereof organic: -17.5
Sales
Q3
2011
Q3
2012 ∆
(%)
112.1 90.1 -19.6
thereof organic: -13.1
Operating EBIT
before PPA
Q3
2011
Q3
2012 ∆
(%)
5.5 -6.4 n.a.
Operating EBIT Margin
before PPA (%)
Q3
2011
Q3
2012 ∆
(bps)
4.9 -7.1 n.a.
[in EUR million]
100%
100%
Q3 2011 Q3 2012
Food &Beverage
Δ-24%
Conference Call Q3 2012 - October 29, 2012
Order Intake by Customer Industry Order Intake by Region
42% 47%
21%
17%
10%
13%
19%
9%
4%
8%
3%
6%
Q3 2011 Q3 2012
Middle-East
Latin America
Asia-Pacific
Eastern Europe & CIS
North America
Western Europe
Δ-16%
Δ-38%
Δ+2%
Δ-64%
Δ+38%
Δ+50%
* Most of Q3/12 losses non-recurring one-offs
engineering for a better world
** Before PPA and non-recurring items of EUR 36m in Q1 2012.
* As reported in statements, after 42m POC-related accounting adjustments in Q1 2012.
Structural impact 2012: divestiture of CFS Kempten in Dec. 2011 (45m p.a.)
21
II. Performance GEA Food Solutions
Order Intake
Q1-Q3
2011
Q1-Q3
2012 ∆
(%)
210.2 274.9 +30.8
thereof organic: n.a.
Sales*
Q1-Q3
2011
Q1-Q3
2012 ∆
(%)
215.4 244.4 +13.5
thereof organic: n.a.
Operating EBIT
before PPA**
Q1-Q3
2011
Q1-Q3
2012 ∆
(%)
9.4 -17.6 n.a.
Operating EBIT Margin
before PPA** (%)
Q1-Q3
2011
Q1-Q3
2012 ∆
(bps)
4.4 -7.1 n.a
[in EUR million]
Conference Call Q3 2012 - October 29, 2012
73 71 77 77 74
67
17 13
35 20 22
15
14
0
20
40
60
80
100
120
140
Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
Quarterly Large Order Development#
# Without orders from CFS Kempten, which was disposed in Dec. 2011.
Rare large
order
engineering for a better world
II. Performance GEA Food Solutions – Update on Turnaround
22 Conference Call Q3 2012 - October 29, 2012
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
engineering for a better world
100% 100%
Q3 2011 Q3 2012
Food &Beverages
23
II. Performance GEA Farm Technologies
Order Intake
Q3
2011
Q3
2012 ∆
(%)
140.3 147.4 +5.1
thereof organic: +0.5
Sales
Q3
2011
Q3
2012 ∆
(%)
138.1 157.8 +14.2
thereof organic: +9.6
Operating EBIT
before PPA
Q3
2011
Q3
2012 ∆
(%)
12.1 14.7 +21.9
Operating EBIT Margin
before PPA (%)
Q3
2011
Q3
2012 ∆
(bps)
8.7 9.3 +58
[in EUR million]
37% 34%
30% 32%
13%
20% 9%
7% 11%
7%
Q3 2011 Q3 2012
Latin America
Asia-Pacific
Eastern Europe & CIS
North America
Western Europe
Order Intake by Customer Industry Order Intake by Region
Δ+5%
Δ-4%
Δ+10%
Δ-30%
Δ-10%
Δ+53%
Conference Call Q3 2012 - October 29, 2012
engineering for a better world 24
II. Performance GEA Farm Technologies
Order Intake
Q1-Q3
2011
Q1-Q3
2012 ∆
(%)
395.7 441.2 +11.5
thereof organic: +8.0
Sales
Q1-Q3
2011
Q1-Q3
2012 ∆
(%)
356.0 408.6 +14.8
thereof organic: +10.9
Operating EBIT
before PPA
Q1-Q3
2011
Q1-Q3
2012 ∆
(%)
19.8 24.9 +25.9
Operating EBIT Margin
before PPA (%)
Q1-Q3
2011
Q1-Q3
2012 ∆
(bps)
5.6 6.1 +54
[in EUR million]
Conference Call Q3 2012 - October 29, 2012
95 101 94 99 100
116 115 116 126 130
140 129
147 144 146
1 1
3
1 1 1
0
20
40
60
80
100
120
140
160
Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
Quarterly Large Order Development
engineering for a better world
49% 47%
13% 16%
6% 11%
18% 11%
8% 8% 3% 4%
2% 3%
Q3 2011 Q3 2012
Latin America
Africa
North America
Asia-Pacific
Middle-East
Eastern Europe& CIS
Western Europe
36% 37%
30% 23%
14% 19%
5% 7% 6%
6% 4%
5% 5%
3%
Q3 2011 Q3 2012
Marine
Food
Chemicals
Other Industries
Oil & Gas
Power
Climate &Environment
25
II. Performance GEA Heat Exchangers
Order Intake
Q3
2011
Q3
2012 ∆
(%)
369.8 375.1 +1.4
thereof organic: -0.5
Sales
Q3
2011
Q3
2012 ∆
(%)
424.2 392.1 -7.6
thereof organic: -9.3
Operating EBIT
before PPA
Q3
2011
Q3
2012 ∆
(%)
37.9 31.3 -17.4
Operating EBIT Margin
before PPA (%)
Q3
2011
Q3
2012 ∆
(bps)
8.9 8.0 -95
[in EUR million]
Order Intake by Customer Industry Order Intake by Region
Δ+2%
Δ-25%
Δ+30%
Δ+3%
Δ+19%
Δ-34%
Δ-6%
Δ+18%
Δ+82%
Δ-42%
Δ+43%
Δ+27%
Δ-1%
Conference Call Q3 2012 - October 29, 2012
Δ+29%
engineering for a better world 26
II. Performance GEA Heat Exchangers
Order Intake
Q1-Q3
2011
Q1-Q3
2012 ∆
(%)
1,190.9 1,160.2 -2.6
thereof organic: -6.4
Sales
Q1-Q3
2011
Q1-Q3
2012 ∆
(%)
1,153.2 1,186,1 +2.8
thereof organic: +0.9
Operating EBIT
before PPA
Q1-Q3
2011
Q1-Q3
2012 ∆
(%)
85.1 82.9 -2.6
Operating EBIT Margin
before PPA (%)
Q1-Q3
2011
Q1-Q3
2012 ∆
(bps)
7.4 7.0 -39
[in EUR million]
Conference Call Q3 2012 - October 29, 2012
258 252 226 212
250 266 256 239
290 294 276 254
281 272 274
51 39
48 47
40 52
46 74
37 47 61
33
62 66 45
45
27
7 27
14
27 30 7
18
42 32
72
33 12
8
60
21 84
15
53 73 80 31
63 104 30
28 49
0
50
100
150
200
250
300
350
400
450
500
Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
Quarterly Large Order Development
engineering for a better world
II. Performance GEA Mechanical Equipment
Order Intake
Q3
2011
Q3
2012 ∆
(%)
221.6 245.4 +10.7
thereof organic: +4.7
Sales
Q3
2011
Q3
2012 ∆
(%)
204.9 238.5 +16.4
thereof organic: +10.1
Operating EBIT
before PPA
Q3
2011
Q3
2012 ∆
(%)
39.3 49.5 +26.0
Operating EBIT Margin
before PPA (%)
Q3
2011
Q3
2012 ∆
(bps)
19.2 20.8 +159
[in EUR million]
61% 54%
11% 12%
6% 10% 5%
8% 6%
6%
5%
5%
6%
4%
Q3 2011 Q3 2012
Oil & Gas
Pharma
Climate &Environment
Chemicals
Power
Marine
Food
Order Intake by Customer Industry Order Intake by Region
27% 29%
31% 26%
19% 19%
6%
11% 9%
9%
6%
5%
2%
2%
Q3 2011 Q3 2012
Africa
Eastern Europe& CIS
Latin America
Middle-East
North America
Asia-Pacific
Western Europe
Δ-1%
Δ+18%
Δ+108%
Δ+25%
Δ+12%
Δ+91%
Δ+21%
Δ-5%
Δ+9%
Δ+104%
Δ+7%
Δ-11% Δ+8%
Conference Call Q3 2012 - October 29, 2012 27
Δ-17%
engineering for a better world
II. Performance GEA Mechanical Equipment
Order Intake
Q1-Q3
2011
Q1-Q3
2012 ∆
(%)
670.9 717.3 +6.9
thereof organic: +2.9
Sales
Q1-Q3
2011
Q1-Q3
2012 ∆
(%)
604.3 672.7 +11.3
thereof organic: +6.9
Operating EBIT
before PPA
Q1-Q3
2011
Q1-Q3
2012 ∆
(%)
108.3 126.7 +16.9
Operating EBIT Margin
before PPA (%)
Q1-Q3
2011
Q1-Q3
2012 ∆
(bps)
17.9 18.8 +91
[in EUR million]
Conference Call Q3 2012 - October 29, 2012 28
173
138 143 143 167
188 167 179
199 193 199 189 214 206 204
15
17 15 13
5
6
12 3
20 29 18 15
19 20 29
7
7 13
13
9 5
6 7
12
0
50
100
150
200
250
300
Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
Quarterly Large Order Development
engineering for a better world
67% 66%
15%
16% 9%
11% 3%
3%
2%
2%
Q3 2011 Q3 2012
Other Industries
Climate &Environment
Chemicals
Pharma
Food
29
II. Performance GEA Process Engineering
Order Intake
Q3
2011
Q3
2012 ∆
(%)
433.3 468.5 +8.1
thereof organic: +4.4
Sales
Q3
2011
Q3
2012 ∆
(%)
394.7 423.6 +7.3
thereof organic: +1.5
Operating EBIT
before PPA
Q3
2011
Q3
2012 ∆
(%)
34.6 39.1 +13.1
Operating EBIT Margin
before PPA (%)
Q3
2011
Q3
2012 ∆
(bps)
8.8 9.2 +47
[in EUR million]
28%
41%
27%
25% 13%
12%
2%
10%
14%
5%
13%
4% 4%
3%
Q3 2011 Q3 2012
Middle-East
Latin America
Eastern Europe& CIS
Africa
North America
Western Europe
Asia-Pacific
Order Intake by Customer Industry Order Intake by Region
Δ+8%
Δ+21%
Δ+30%
Δ+7%
Δ+14%
Δ+57%
Δ+3%
Δ+0%
Δ+392%
Δ-63% Δ-64%
Δ-8%
Conference Call Q3 2012 - October 29, 2012
engineering for a better world 30
II. Performance GEA Process Engineering
Order Intake
Q1-Q3
2011
Q1-Q3
2012 ∆
(%)
1,260.9 1,381.0 +9.5
thereof organic: +5.0
Sales
Q1-Q3
2011
Q1-Q3
2012 ∆
(%)
1,080.6 1,198.0 +10.9
thereof organic: +5.8
Operating EBIT
before PPA
Q1-Q3
2011
Q1-Q3
2012 ∆
(%)
78.7 91.4 +16.1
Operating EBIT Margin
before PPA (%)
Q1-Q3
2011
Q1-Q3
2012 ∆
(bps)
7.3 7.6 +34
[in EUR million]
Conference Call Q3 2012 - October 29, 2012
122 121 119 140 138 117 136 177 169 178 167 159
186 175 170
81 49 66
80
143
121 110
119 133 122 116 121
144 107 132 48
79 52
55
38
61 43
58 59
127
90 111
82
75
101
60
17
60
16 40
33
66 41 60
58
100
44
65
0
100
200
300
400
500
600
Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
Quarterly Large Order Development
engineering for a better world 31
II. Performance GEA Refrigeration Technologies
Order Intake
Q3
2011
Q3
2012 ∆
(%)
164.8 200.1 +21.4
thereof organic: +17.4
Sales
Q3
2011
Q3
2012 ∆
(%)
166.2 177.0 +6.5
thereof organic: +2.3
Operating EBIT
before PPA
Q3
2011
Q3
2012 ∆
(%)
11.9 13.8 +16.5
Operating EBIT Margin
before PPA (%)
Q3
2011
Q3
2012 ∆
(bps)
7.2 7.8 +67
[in EUR million]
53%
66%
5%
11%
15%
10%
13%
6%
7%
4%
4%
2%
Q3 2011 Q3 2012
Marine
Climate &Environment
Oil & Gas
Other Industries
Chemicals
Food
40% 40%
12%
22% 20%
12% 8%
11%
13%
9%
5%
4%
2%
2%
Q3 2011 Q3 2012
Latin America
Middle-East
North America
Africa
Asia-Pacific
Eastern Europe &CIS
Western Europe
Δ+48%
Δ+208%
Δ-49%
Δ-36%
Δ-23%
Δ+20%
Δ+118%
Δ-25%
Δ+59%
Δ-11%
Δ-1%
Order Intake by Customer Industry Order Intake by Region
Conference Call Q3 2012 - October 29, 2012
Δ-45% Δ-6%
engineering for a better world 32
II. Performance GEA Refrigeration Technologies
Order Intake
Q1-Q3
2011
Q1-Q3
2012 ∆
(%)
480.3 558.4 +16.3
thereof organic: +9.7
Sales
Q1-Q3
2011
Q1-Q3
2012 ∆
(%)
465.6 491.8 +5.6
thereof organic: -0.3
Operating EBIT
before PPA
Q1-Q3
2011
Q1-Q3
2012 ∆
(%)
31.3 33.7 +7.7
Operating EBIT Margin
before PPA (%)
Q1-Q3
2011
Q1-Q3
2012 ∆
(bps)
6.7 6.8 +13
[in EUR million]
Conference Call Q3 2012 - October 29, 2012
111 110 105 105 113 121 122 120 128 145
126 135 140 139 146
18 17 10 16
14
30 17 27 19
17
20
35 29 22
44
10 15 10
10 5 6
19
8 20
10
0
50
100
150
200
250
Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12
OI < EUR 1m OI >= EUR 1m < EUR 5m OI >= EUR 5m < EUR 15m OI >= EUR 15m
Quarterly Large Order Development
engineering for a better world
III. Outlook Key Figures FY 2012
33
an order intake growth: at least +5%
a sales growth: at least +5%
Operating EBIT-margin* bef. PPA at least on FY 2011 level of 9.7%*
incl. GEA FS:
Assuming that economic conditions do not deteriorate further, we are reiterating
our previous business outlook for 2012 by aiming for
Conference Call Q3 2012 - October 29, 2012
* Before non-recurring items within GEA FS.
engineering for a better world
III. Outlook Additional Financial Information for 2012
34
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 FS around EUR 14m p.a.
Mid term target for Capex: around 2.0% of sales
Conference Call Q3 2012 - October 29, 2012
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.
Appraisal procedure / capital increase: Maximum Ø of GEA shares in FY
2012: 186.2 million shares
engineering for a better world
• Settlement (of 31 Jan 2012) became effective on 11 June 2012
• 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 2012: ca. 2.1m shares issued upon request
• 3 Sep 2012: ca. 2.0m shares issued upon request
• 3 Dec 2012: distribution of last tranche
III. Outlook Share Dilution from Settling 1999 Appraisal Proceedings
Conference Call Q3 2012 - October 29, 2012 35
engineering for a better world
Investor Relations Calendar Upcoming Roadshows and Conferences
36 Conference Call Q3 2012 - October 29, 2012
November 6-7, 2012 Roadshow France Paris
November 7, 2012 Roadshow UK London
November 8, 2012 Roadshow Italy Milan
November 20, 2012 Roadshow Germany Munich
November 8, 2012 Roadshow Denmark Copenhagen
November 13-14, 2012 Conferences Germany Frankfurt
November 26-27, 2012 Roadshow/Conference Switzerland Geneva/Zurich
December 3-6, 2012 Roadshow/Conferences UK Dublin/Edinburgh/London
December 4, 2012 Roadshow France Paris
January 14-16, 2013 Conference USA New York
January 22-23, 2013 Conference Germany Frankfurt
engineering for a better world
Financial Calendar
37 Conference Call Q3 2012 - October 29, 2012
March 11, 2013 Annual Report FY 2012
April 18, 2013 Annual General Meeting
February 6, 2013 Preliminary FY 2012
May 8, 2013 Interim Report Q1 2013
July 30, 2013 Interim Report Q2 2013
October 31, 2013 Interim Report Q3 2013
engineering for a better world 38
engineering for a better world
Agenda
39 Conference Call Q3 2012 - October 29, 2012
January – September 2012
I. Key Figures
II. Performance
Backup
Performance GEA Group and Segments
III. Outlook
engineering for a better world 40
[in EUR million]
Conference Call Q3 2012 - October 29, 2012
Backup: Performance GEA Group Sales Q3 2012
Q3 2012 vs.
Q3 2011
Q1-Q3 2012 vs.
Q1-Q3 2011
Q3 2012 vs.
Q2 2012
Sales
previous period 1,397 3,784 1,391
Structural
Change +1 +0.1% +79 +2.1% 0 0%
Currency Effects +48 +3.5% +102 +2.7% +16 +1.2%
Organic
Development -1 -0.1% +135 +3.6% +39 +2.8%
Sales
current period 1,446 +3.5% 4,101 +8.4% 1,446 +3.9%
∆ abs. ∆ in %
∆ abs. ∆ in %
∆ abs. ∆ in %
engineering for a better world
799
743
848
833
1,238
1,357
1,278
1,278
706
903
690
683
612
620
671
688
720
577
764
741
41
Trade
Receivables
Inven-
tories
Trade
Payables Advance
Payments
Working
Capital
[in EUR million]
Conference Call Q3 2012 - October 29, 2012
Backup: Performance GEA Group Working Capital Development
Q3 2011
Q2 2012
Q3 2012
0
0%
-15
-2%
-8
-1%
+17
+3%
-23
-3%
Q4 2011
-79
-6%
+105
+14%
-213
-24%
+51
+8%
+187
+32%
+119
+10%
-56
-7%
+197
+28%
+8
+1%
-143
-20%
_
_
_
_
engineering for a better world
Backup: Performance GEA Group & Segments Key Figures Time Line (1/5)
Conference Call Q3 2012 - October 29, 2012 42
Order Intake
[In EUR million] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009
GEA Food Solutions1) 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
[In EUR million] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009
GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
GEA Farm Technologies 107.8 106.0 111.1 77.5 77.5 86.0 89.5 77.2 61.5 61.5
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 Mechanical Equipment 290.8 357.5 376.5 338.0 338.0 325.6 303.5 285.2 280.8 280.8
GEA Process Engineering 850.7 830.9 826.6 666.2 666.2 651.5 658.2 627.9 660.2 660.2
GEA Refrigeration Technologies 241.9 235.5 236.8 204.1 204.1 222.4 231.7 196.7 169.9 169.9
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 Food Solutions1) 91.8 99.1 98.5 104.8 394.2 89.0 79.8 82.8 82.5 334.1
GEA Farm Technologies 94.9 123.9 138.5 147.1 504.5 86.6 98.5 112.0 114.7 411.8
GEA Heat Exchangers 398.7 449.8 481.7 529.0 1,859.2 387.0 421.2 372.0 443.1 1,623.4
GEA Mechanical Equipment 196.9 190.7 210.9 211.2 809.7 200.0 179.9 163.8 174.0 717.5
GEA Process Engineering 328.2 395.8 364.5 398.9 1,487.4 270.7 281.9 278.1 313.2 1,144.0
GEA Refrigeration Technologies 132.5 159.3 142.9 175.9 610.6 122.3 136.9 148.2 158.2 565.6
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 & restructuring2)
[in EUR million] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009
GEA Food Solutions1) -4.5 7.0 9.4 7.6 19.5 -2.9 4.9 7.0 6.4 15.4
GEA Farm Technologies 6.0 13.6 21.3 21.5 62.3 0.8 8.1 10.8 9.4 29.1
GEA Heat Exchangers 42.6 55.7 65.2 79.8 243.2 36.1 38.2 45.5 59.1 179.0
GEA Mechanical Equipment 30.1 32.9 32.8 43.5 139.3 26.7 23.2 28.4 37.0 115.2
GEA Process Engineering 12.1 26.1 28.0 47.0 113.2 11.1 17.4 21.0 38.5 88.0
GEA Refrigeration Technologies 7.7 11.9 11.7 16.9 48.1 4.4 8.5 5.0 10.7 28.6
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 &
restructuring2)
[in %] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009
GEA Food Solutions1) -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%
engineering for a better world
Backup: Performance GEA Group & Segments Key Figures Time Line (2/5)
Conference Call Q3 2012 - October 29, 2012 43
Order Intake
[In EUR million] Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12
GEA Food Solutions1) 115.5 94.5 100.7 98.9 409.6 125.5 102.3 107.9 119.6 329.8 97.4 95.8 81.7
GEA Farm Technologies 101.1 116.1 115.0 116.3 448.5 125.9 129.5 140.3 131.7 527.4 148.1 145.7 147.4
GEA Heat Exchangers 304.4 398.3 404.1 399.2 1,506.0 375.5 445.6 369.8 462.3 1,653.2 406.1 379.0 375.1
GEA Mechanical Equipment 172.0 194.7 191.9 181.8 740.4 219.2 230.1 221.6 203.9 874.9 238.7 233.2 245.4
GEA Process Engineering 335.7 339.0 321.7 419.7 1,416.1 401.5 426.2 433.3 449.0 1,709.9 511.3 401.2 468.5
GEA Refrigeration Technologies 127.5 150.6 148.9 152.5 579.6 152.7 162.8 164.8 170.1 650.4 177.9 180.4 200.1
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 1,544.9 1,401.0 1,477.3
Order Backlog
[In EUR million] Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12
GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. 104.4 109.2 105.0 85.5 85.5 122.8 111.2 97.4
GEA Farm Technologies 77.1 89.4 80.6 63.1 63.1 85.4 92.5 93.9 74.4 74.4 104.5 117.3 107.1
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 1,103.2 1,074.1 1,045.5
GEA Mechanical Equipment 298.3 319.1 306.1 284.1 284.1 304.1 322.0 340.9 309.7 309.7 323.7 341.7 345.1
GEA Process Engineering 757.6 821.2 788.9 813.0 813.0 888.2 927.4 972.2 951.2 951.2 1,082.3 1,104.5 1,142.5
GEA Refrigeration Technologies 183.8 203.9 205.9 183.8 183.8 210.4 206.6 206.1 197.0 197.0 224.4 245.8 265.4
GEA Group 2,301.1 2,468.5 2,423.7 2,414.0 2,414.0 2,666.6 2,770.6 2,755.7 2,677.3 2,677.3 2,935.6 2,967.4 2,967.8
Sales
[in EUR million] Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12
GEA Food Solutions1) 101.0 99.8 93.1 103.7 397.6 112.9 103.3 112.1 130.6 346.0 52.7 101.6 90.1
GEA Farm Technologies 85.4 106.6 119.8 134.9 446.7 99.6 118.3 138.1 153.8 509.8 117.8 133.1 157.8
GEA Heat Exchangers 340.9 370.8 361.6 410.1 1,483.4 338.1 390.9 424.2 463.6 1,616.8 389.7 404.3 392.1
GEA Mechanical Equipment 156.7 173.7 193.1 201.9 725.4 191.6 207.8 204.9 240.4 844.7 216.7 217.6 238.5
GEA Process Engineering 256.9 298.5 330.9 402.2 1,288.5 300.8 385.1 394.7 496.6 1,577.2 373.2 401.2 423.6
GEA Refrigeration Technologies 117.4 135.3 139.7 171.3 563.7 132.8 166.6 166.2 181.6 647.2 149.5 165.2 177.0
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 1,263.7 1,391.3 1,445.6
EBITDA before PPA &
restructuring2)
[in EUR million] Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12
GEA Food Solutions1) 13.5 10.3 5.5 6.8 36.1 6.2 6.2 8.0 12.0 26.2 -43.1 -0.8 -4.8
GEA Farm Technologies 3.8 6.1 11.8 16.2 37.9 5.0 8.4 15.0 16.8 45.2 5.0 11.3 17.8
GEA Heat Exchangers 33.2 34.6 37.9 47.0 152.7 29.5 35.3 46.9 48.7 160.4 32.6 35.9 37.5
GEA Mechanical Equipment 24.8 26.9 37.7 46.9 136.4 32.7 44.6 43.5 57.9 178.7 40.3 44.9 53.7
GEA Process Engineering 14.7 20.5 23.0 48.3 106.5 20.0 31.2 38.6 73.4 163.2 20.1 39.4 43.0
GEA Refrigeration Technologies 3.8 8.2 9.2 15.8 37.1 8.9 14.5 14.1 22.4 60.0 11.0 13.4 16.0
GEA Group 78.1 98.3 117.6 169.5 463.5 91.9 135.7 166.7 235.7 630.1 65.0 143.1 163.9
EBITDA-Margin before PPA &
restructuring2)
[in %] Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12
GEA Food Solutions1) 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%
engineering for a better world 44
Backup: Performance GEA Group & Segments Key Figures Time Line (3/5)
Conference Call Q3 2012 - October 29, 2012
EBIT before PPA & restructuring2)
[in EUR million] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009
GEA Food Solutions1) -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 Heat Exchangers 36.5 49.3 58.4 72.3 216.6 28.5 29.8 37.0 49.0 144.3
GEA Mechanical Equipment 27.2 29.9 29.6 39.7 126.4 23.3 19.4 24.7 32.8 100.2
GEA Process Engineering 9.5 23.5 25.2 43.6 101.8 8.0 14.2 18.0 35.5 75.7
GEA Refrigeration Technologies 5.9 10.0 9.9 15.4 41.2 2.5 6.6 3.1 8.9 21.1
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 &
restructuring2)
[in %] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009
GEA Food Solutions1) -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 restructuring2)
[in EUR million] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009
GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
GEA Farm Technologies 4.1 11.6 18.8 18.8 53.4 -1.6 5.6 7.9 6.6 18.5
GEA Heat Exchangers 36.4 49.1 58.1 71.8 215.4 27.9 29.2 36.4 48.5 142.0
GEA Mechanical Equipment 27.0 29.7 29.4 39.5 125.6 23.0 19.2 24.5 32.6 99.3
GEA Process Engineering 9.2 23.1 24.8 43.1 100.2 7.6 13.7 17.6 35.0 73.9
GEA Refrigeration Technologies 5.9 9.8 9.7 15.2 40.7 2.2 6.4 2.9 8.0 19.4
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 goodwill3)
(average LTM) [in EUR million] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009
GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
GEA Farm Technologies n.a. n.a. n.a. 204.0 204.0 219.7 235.5 241.7 241.4 241.4
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 goodwill4)
LTM
[in%] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009
GEA Food Solutions1) 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%
engineering for a better world 45
Backup: Performance GEA Group & Segments Key Figures Time Line (4/5)
Conference Call Q3 2012 - October 29, 2012
EBIT before PPA & restructuring2)
[in EUR million] Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12
GEA Food Solutions1) 9.5 7.0 1.6 3.1 21.2 2.8 4.0 5.5 10.2 19.6 -45.1 -1.9 -6.4
GEA Farm Technologies 1.0 3.1 8.8 13.4 26.3 2.1 5.6 12.1 14.0 33.8 1.9 8.3 14.7
GEA Heat Exchangers 24.5 25.1 29.2 40.0 118.8 20.8 26.5 37.9 36.7 121.8 24.0 27.6 31.3
GEA Mechanical Equipment 20.8 22.8 33.6 39.7 117.0 28.6 40.5 39.3 53.8 162.1 36.3 40.9 49.5
GEA Process Engineering 11.5 17.2 19.8 44.7 93.2 16.5 27.6 34.6 69.4 148.2 16.6 35.8 39.1
GEA Refrigeration Technologies 1.9 6.3 7.3 13.9 29.4 7.1 12.3 11.9 20.1 51.3 8.7 11.1 13.8
GEA Group 54.4 73.6 94.5 144.3 366.8 69.0 109.7 139.8 206.1 524.6 39.2 119.0 140.8
EBIT-Margin before PPA &
restructuring2)
[in %] Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12
GEA Food Solutions1) 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 restructuring2)
[in EUR million] Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12
GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. n.a. -22.6 -0.2 6.8 -16.0 -48.5 -5.3 -9.8
GEA Farm Technologies 0.5 2.5 8.2 12.6 23.9 1.5 5.0 11.4 13.2 31.1 1.2 7.5 13.9
GEA Heat Exchangers 23.9 24.5 28.6 37.2 114.3 20.2 25.7 37.2 35.0 118.0 23.4 27.0 30.6
GEA Mechanical Equipment 20.6 22.6 33.4 39.5 116.2 28.4 40.3 39.1 53.5 161.2 35.9 39.9 48.5
GEA Process Engineering 11.1 16.7 19.3 44.1 91.3 16.1 27.2 34.1 68.8 146.1 15.9 35.0 38.1
GEA Refrigeration Technologies 1.6 6.0 7.1 13.6 28.3 6.8 10.6 11.1 18.0 46.6 8.2 10.6 13.3
GEA Group 52.3 71.4 92.3 139.7 355.8 66.8 79.3 131.3 197.2 474.6 32.8 111.9 133.3
Capital Employed w/o goodwill3)
(average LTM) [in EUR million] Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12
GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 529.5 530.1 526.8
GEA Farm Technologies 250.5 260.9 271.3 284.0 284.0 288.6 289.7 292.5 297.7 297.7 302.1 308.2 314.8
GEA Heat Exchangers 711.8 687.1 677.7 672.8 672.8 680.7 684.2 691.6 694.6 694.6 690.5 688.2 675.9
GEA Mechanical Equipment 346.5 327.9 309.9 300.7 300.7 303.6 308.4 317.6 328.8 328.8 345.1 373.5 402.3
GEA Process Engineering 241.1 235.7 237.8 238.9 238.9 237.4 235.8 238.7 249.0 249.0 273.3 290.0 296.7
GEA Refrigeration Technologies 244.9 226.6 202.4 177.9 177.9 176.5 187.8 205.4 225.9 225.9 241.8 249.0 253.6
GEA Group 1,780.9 1,750.3 1,738.4 1,739.9 1,739.9 1,796.3 1,949.7 2,128.3 2,314.2 2,314.2 2,462.7 2,518.1 2,548.2
ROCE w/o goodwill4)
LTM
[in%] Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12
GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. -12.2% -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%
engineering for a better world 46
Backup: Performance GEA Group & Segments Key Figures Time Line (5/5): Remarks
Conference Call Q3 2012 - October 29, 2012
1) All historical figures for GEA FS before Q2 2011 are pro-forma figures only and haven't been
audited due to the fact that GEA FS's Financial Year was ending end of February. The listed
historical figures before Q2 2011 are not included in the Group-numbers of the corresponding
period.
2) Restructuring only in FY 2009 and FY 2010.
3) Capital employed excluding goodwill from the acquisition of the former GEA AG by the former
Metallgesellschaft AG in 1999.
4) 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
1999.
2011 figures adjusted due to change in accounting policy for pension obligations and leasing
obligations.