q2 2020 results - gea engineering for a better world · gea q2 2020 figures 7 covid-19: gea is well...
TRANSCRIPT
Q2 2020 Results
Stefan Klebert, CEO
Marcus A. Ketter, CFO
DÜSSELDORF, AUGUST 12, 2020
This presentation contains forward-looking statements. Forward-looking statements may include, in
particular, statements about future events, future financial performance, plans, strategies, expectations,
prospects, competitive environment, regulation and supply and demand. Statements with respect to the
future are characterized by the use of words such as "expect", "intend", "plan", "anticipate", "believe",
"estimate" and similar terms. Forward-looking statements are based on our current assumptions and
forecasts. These statements naturally entail risks and uncertainties, which may cause the actual results
of operations, financial position or performance to diverge materially from the estimates given here.
Factors that could cause such a divergence include, inter alia, changes in the economic and business
environment, fluctuations in exchange rates and interest rates, launches of competing products, poor
acceptance of new products or services, and changes in business strategy. Given these uncertainties,
readers should not put undue reliance on any forward-looking statements. We undertake no obligation
to update or revise any forward-looking statements.
Due to rounding, the sum of percentages of order intake and sales by region as well as by customer
industry may vary from 100%.
Disclaimer
GEA Q2 2020 Figures 2
3GEA Q2 2020 Figures
Highlights Q2 2020
Stefan Klebert, CEO
GEA with significant earnings growth in Q2 20 despite COVID-19 related decrease of order intake and sales
4GEA Q2 2020 Figures
€m
Order Intake
Sales
EBITDA1
EBITDA Margin1
EBIT1
ROCE1,2
Net debt
Q2 20
1,034
1,165
140.4
12.1%
93.4
14.8%
-92
Q2 19
1,147
1,247
111.2
8.9%
57.5
10.5%
330
∆
-9.8%
-6.6%
26.2%
314bp
62.5%
428bp
-421 €m
COVID-19 impacting order intake
Book-to-bill of 0.89x vs. 0.92x in Q2 19
Also sales is impacted by COVID-19 whereas service sales
developed more robust than new machines
Better gross profit, cost cutting and some windfall profits
Net relief from special items YoY of €12m
Stronger improvement compared to EBITDA1 as D&A declined
slightly YoY
Substantial increase based on significant improvement of
both, EBIT1 and Capital Employed
Net debt of €330m turned into net cash position of €92m
1 before restructuring; 2 L4Q
5
GEA with professional crisis management during COVID-19
GEA Q2 2020 Figures
• Crisis Management Team and Taskforce installed at an
early stage
• Early measures taken for workplace safety, e.g. hygiene
standards, canteen closures
• Dashboard implemented with all relevant KPIs
• Remote Service Tool launched
• Supply chain issues managed smoothly
• Liquidity initiative launched with focus on accounts
receivable, expense management and reduction of NWC
• Proactive savings measures implemented
• Numerous local donation initiatives supported
Solid development in H1
despite challenging environment
Production almost unaffected by COVID-19(total uptime production sites)
GEA Q2 2020 Figures 6
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20
Uptime is defined as % of total available factory working hours (already deducted by holidays, sick leave, etc.)
7GEA Q2 2020 Figures
COVID-19: GEA is well prepared in case of a second wave
• Safety of employees: Pandemic emergency plans, tools
to work remotely and protection equipment are in place
• Supply chain: Tool allowing visibility on major suppliers
material and distribution situation
• Production: Clear safety procedures and processes to
keep production sites operating
• Service: Remote access support tool
• Finance: Liquidity Office established, ready to continue
cost cutting measures
Measures in place to
secure business continuity
8GEA Q2 2020 Figures
Business & Financial Review Q2 2020
Marcus A. Ketter, CFO
GEA Group: Strong EBITDA1 growth despite COVID-19 related top-line decline
GEA Q2 2020 Figures 9
Order intake declined by 9.8% YoY
(adj. -8.0%)
• Order intake was mostly impacted by declining
medium sized orders (>€5m, <€15m) and
orders below €1m
• Book-to-bill ratio almost stable (0.89x vs 0.92x
in Q2 19)
Sales fell by 6.6% YoY (adj. -5.2%)
• Global travel restrictions due to COVID-19
impacted order execution
• Service sales only down by 3.3% and share
of total sales increased to 32.7% (vs. 31.6%
in Q2 19)
EBITDA1 margin increased to 12.1% from 8.9%
• Improvement of gross profit
• Lower overhead costs from cost savings
initiatives and windfall profits from COVID-19
• Q2 19 EBITDA1 included a burden of special
items of €21m; Q2 20 included a burden of
€9m1 before restructuring measures
1,147 1,255 1,343 1,377
1,034
0 €m
500 €m
1,000 €m
1,500 €m
Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
Order Intake
1,247 1,235 1,3401,094 1,165
0 €m
500 €m
1,000 €m
1,500 €m
Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
Sales
111143 150
105140
0 €m
100 €m
200 €m
Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
EBITDA1
Very solid EBITDA1 development in Q2 20 despite negative top-line impact from COVID-19
10GEA Q2 2020 Figures
€m
32
4
7
4
7
FXEBITDA1
Q2 19
Volume
-12
Margin R&D SG&A Other
-7
EBITDA1
Q2 20
140
Special Items FX
-11
111
∆ +€29m
∑ ∆ +€24m
∆ -€5m
FX:
-€3m Translational
-€5m Transactional
Special items:
Q2 20: -€9m
Q2 19: -€21m
+€34m New
Machines
-€1m Service
Special items:
Q2 20: -
Q2 19: -€16m
Special items:
Q2 20: -
Q2 19: +€9m
Special items:
Q2 20: -€9m
Q2 19: -€14m
-€9m New
Machines
-€2m Service
Separation & Flow Technologies: Sales and EBITDA increase despite COVID-19 impact
GEA Q2 2020 Figures 11
Order intake down by 11.1% YoY (adj. -9.8%)
• Decline mostly driven by the customer
industries Oil & Gas and Marine and less
pronounced by Dairy Processing and Food
• Pharma and Chemical with higher order
intake
Sales growth of 4.0% YoY (adj. 5.4%)
• Sales increase was driven by a strong
development in the customer industry Food
• Service sales grew by 1.5% which resulted in
a sales share of 40.3% vs. 41.3% in Q2 19
EBITDA1 margin rose to 20.4% from 15.3%
• The improvement was predominantly driven
by a strong growth of gross profit
• Q2 19 EBITDA1 was burdened by €9m
special items, Q2 20 burdened by only €1m
1 before restructuring measures
323 325 310 332288
0 €m
200 €m
400 €m
Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
Order Intake
301 324 340278 313
0 €m
200 €m
400 €m
Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
Sales
46
74 6960 64
0 €m
50 €m
100 €m
Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
EBITDA1
Liquid & Powder Technologies: Substantial EBITDA increase despite COVID-19 taking a toll only on order intake and sales
GEA Q2 2020 Figures 12
Order intake declined by 8.4% YoY (adj. -6.6%)
• Decline mostly driven by BUs Beverage & Filling,
Powder and Liquid, BU Chemical was up
• Impact from travel restrictions and order
postponements
Sales fell by 5.1% YoY (adj. -4.3%)
• Execution was impacted by travel
restrictions related to COVID-19
• Service sales declined by 6.7% and account
now for 22.0% of sales (vs. 22.4% in Q2 19)
EBITDA1 margin rose to 8.9% from 5.6%
• Improvement driven by better gross profit
and lower overhead costs
• Q2 19 EBITDA1 was burdened by €10m
special items, Q2 20 burdened by only €2m
1 before restructuring measures
365
505 549 566
335
0 €m
200 €m
400 €m
600 €m
Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
Order Intake
445 438 484385 423
0 €m
200 €m
400 €m
600 €m
Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
Sales
25 3040
8
37
0 €m
20 €m
40 €m
60 €m
Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
EBITDA1
Food & Healthcare Technologies: Strong EBITDA growth despite Italian legal entities being particularly affected by COVID-19
GEA Q2 2020 Figures 13
Order intake down by 13.5% YoY (adj. -13.4%)
• Weaker orders in the BUs Bakery and Food
Solutions as well as Slicing & Packaging
• Good growth in Pharma & Healthcare
Sales declined by 5.8% YoY (adj. -5.6%)
• Especially those BUs with a high exposure to
Northern Italy (Pasta and Bakery) were
impacted by travel restrictions
• Service sales declined less by only 3.9% and
account now for 24.2% of sales (vs. 23.7% in
Q2 19)
EBITDA1 margin rose to 9.1% from 4.8%
• Improvement resulted from better gross profit
and lower overhead costs
• Q2 19 EBITDA1 was burdened by €8m special
items, Q2 20 burdened by only €2m
1 before restructuring measures
222 210244 222
192
0 €m
100 €m
200 €m
300 €m
Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
Order Intake
252 232 256213 237
0 €m
100 €m
200 €m
300 €m
Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
Sales
1216
1916
22
0 €m
10 €m
20 €m
30 €m
Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
EBITDA1
Farm Technologies: Solid order intake and good EBITDA1
despite COVID-19
GEA Q2 2020 Figures 14
Order intake down by 1.2% YoY (adj. +2.3%)
• Delays in the decision making process of
customers due to the uncertainty regarding the
future development of milk prices
• Travel restrictions are an obstacle to visit dealers
and farmers
Sales declined by 9.7% YoY (adj. -6.3%)
• Some delays in deliveries due to lockdowns
• Lower YoY backlog at the beginning of Q2 20
• Service sales almost stable and now account
for 46.8% of sales (vs. 42.5% in Q2 19)
EBITDA1 margin rose to 10.3% from 8.2%
• Gross profit improvements mainly due to
better new machines margin
• Lower overhead costs due to cost savings
initiatives implemented earlier but also from
some windfall profits related to COVID-19
• Q2 20 EBITDA1 was burdened by €3m special
items1 before restructuring measures
158 156 165 177156
0 €m
100 €m
200 €m
Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
Order Intake
160 171 182141 145
0 €m
100 €m
200 €m
Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
Sales
1319 22
1115
0 €m
10 €m
20 €m
30 €m
Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
EBITDA1
Refrigeration Technologies: Top-line decline but stable margin development
GEA Q2 2020 Figures 15
Order intake decline of 30.0% YoY
(adj. -27.6%)
• COVID-19 related delays in the decision
making process of customers
• Orders declined in those regions which were
hit hardest by COVID-19 (e.g. Italy)
Sales declined by 13.4% YoY (adj. -10.8%)
• COVID-19 related temporary closures of our
production sites caused delays in the
execution of orders
• Service sales declined by 9.5% and account
now for 35.8% of sales (vs. 34.3% in Q2 19)
EBITDA1 margin stable at 7.9%
• Negative volume effects were compensated by
better gross margin and lower overhead costs
• Q2 20 EBITDA1 was burdened by €2m special
items
1 before restructuring measures
198 175 179 184138
0 €m
100 €m
200 €m
300 €m
Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
Order Intake
189 173 193 170 164
0 €m
100 €m
200 €m
300 €m
Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
Sales
1518 18 17
13
0 €m
10 €m
20 €m
Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
EBITDA1
• NWC improvement of €276m YoY or 559bps
• Reduction of NWC at Liquid & Powder,
Separation & Flow, Farm and Refrigeration
Technologies
• YoY improvement of trade receivables, net
contract assets and inventories while trade
payables remained stable
• The new organizational structure is key for the
significantly better NWC management
• Targeting NWC/Sales ratio of <14% by year-
end 2020
NWC/Sales ratio strongly reduced from 18.6% to 13.0%
GEA Q2 2020 Figures 16
906941
682720
630
18.6%19.2%
14.0%14.6%
13.0%
0%
5%
10%
15%
20%
25%
0 €m
200 €m
400 €m
600 €m
800 €m
1,000 €m
1,200 €m
Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
NWC as of reporting date
NWC as of reporting date as of sales (L4Q)
Net cash position of €92m at the end of Q2 2020
17GEA Q2 2020 Figures
Free Cash Flow Q2 2020 [€m]
Net financial cash/debt 06/2020 vs. 03/2020 [€m]
Operating Cash Flow
• NWC €64m: improvement mainly due to reduction of
receivables (+€ 61m)
• Restructuring related cash outflow of -€11m
• Others €15m: non-cash increase of provisions for
bad debt, personnel and other overcompensating
pension related cash outflow of €11m
Net Cash Flow
• Capex -€18m: thereof €6m replacement, €8m R&D
capitalization, €1m new products, €2m other
Net financial cash
• Dividend payment of 42 cents per share compared
to 85 cents proposed for the full year
• The AGM was postponed to 26 November and the
proposal of the remaining 43 cents per share is still
valid
140
197182
16464
Capex Net Cash
Flow
Cash-out
Restructuring
2
Others Interests
paid
Others
-16 -2
EBITDA
before
Restructuring
Free Cash
Flow
Delta
NWC
-11-11
Taxes Operating
Cash flow
-1815
Lease
payments
10
92164
-76
Net Cash
03/2020
DividendNet Cash Flow
1 -3
DOP FX on Cash
-4
Others Net Cash
06/2020
Maturities [€m]
Strong financial position and sufficientfinancial headroom
18
Left side: committed
Right side: utilization
GEA Q2 2020 Figures
8222
650
128 128
12
2
12
2
100 10050
50
2022 20232020 2021 2024 2025 2026 2027
172 172
Evergreens** BNL (2025)EIB BNL (2023) Syn Loan
** Including uncommitted lines and credit lines < 1 Year.
* Utilization includes accrued interest and commitment fees
Financing and liquidity
• Sufficient financial leeway
• Ratings: Moody’s confirmed the rating on June 8, the outlook remains negative
with both current ratings, GEA is investment-grade
• Evergreens: Includes uncommitted lines that are shown to the extent of their utilization
and are extended if needed
• EIB: As of April 01, 2020, €100m with a term running until March 31, 2027 have been
utilized (and initially invested)
RatingAgency Rating Outlook Last update
Moody's Baa2 negative June 08, 2020
Fitch BBB- stable May 08, 2020
Committed Utilized
€m June 30, 2020 June 30, 2020 Dec. 31, 2019
Borrower's note loan (2023) 128 128 128
Borrower's note loan (2025) 122 122 122
European Investment Bank 150 150 50
Other bilateral credit lines 82 22 26
Syndicated credit lines 650 - -
Total* 1.132 422 326
Cash and Cash Equivalents 514 355
Net Liquidity (+) / Net Debt (-) 92 28 *** Total net debt / cons. EBITDA based on frozen GAAP (covenant concept)
**** According to Moody’s consideration (3,1x in June 2020 as of March 2020)
∆ June 30, June 30, Dec. 31,
€m 2020A 2019A 2019A
Equity 2.054 2.318 2.090
Leverage*** (Covenant 3x) -0,2x 0,8x -0,1x
Leverage**** (Rating) l 3,1x 3,1x 3,3x
Financial Headroom 650 750 750
Cash and Cash Equivalents 514 231 355
Net Liquidity (+) / Net Debt (-) 92 -330 28
19GEA Q2 2020 Figures
Outlook FY 2020
Stefan Klebert, CEO
0.9% 0.9%
3.1%2.6%
3.6%
1.3%1.9%
0.7% 0.7%
-3.4%
-5.2%
-1.8%
-6.1%
-8.6%-10%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
Q2 19 Q2 20E
External view on industry development YoY
20GEA Q2 2020 Figures
1.0% 0.8%
2.8% 3.0%3.6%
1.5% 1.7%
0.5% 0.6%
-1.0%
-3.4%
0.7%
-2.7%
-5.5%
-10%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
2019 2020E
* w/o India & Pakistan; ** measured as “Value-added output, real US$”; *** excl. Construction
Sources: Oxford Economics per 21.07.2020; IFCN per 29.07.2020; GEA internal assessment
Prior guidance:
Between €430m and €480m
(previous year: €479m)
Guidance FY 2020 slightly upgraded
GEA Q2 2020 Figures 21
EBITDA(before restructuring measures)
SALES
Slightly below
previous year
Minimum upper end of
€430m and €480mBetween
12.0% and 14.0%
ROCE(before restructuring measures)
Prior guidance:
Between 9.0% and 11.0%
(previous year: 10.6%)
Prior guidance:
Slightly below previous year
(previous year: €4,880m)
Key priorities 2020
22GEA Q2 2020 Figures
• Managing the impact of COVID-19 internally and on our business
− Keeping focus on order intake and sales
− Managing cost
− Securing cash
• Realizing savings from new global procurement and supply chain organization
• Concluding announced headcount reduction
• Continuing to increase operational efficiency
• Divesting earmarked low-margin business
GEA: We are a self-help story
Roadmap for 2020
23GEA Q2 2020 Figures
Q2 2020
Today
Q3 2020
November 5,
2020
AGM
November
26, 2020
24GEA Q2 2020 Figures
Questions & Answers
Stefan Klebert, CEO
Marcus A. Ketter, CFO
25GEA Q2 2020 Figures
Appendix
GEA – Q2 2020 figures
GEA Q2 2020 Figures 26
1 Adjusted = before FX and structural effects; 2 before restructuring measures; previous year: pro-forma figures for 2018 incl. IFRS 16 effects from 2019; 3 ROCE = EBIT1 (L4Q) / Capital employed excluding EUR ~800m goodwill from the
acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L4Q)
[in EUR million] Q2 19 Q2 20 Δ YoY L4Q Q2 19 L4Q Q2 20 Δ YoY
Order Intake -9.8% 5.1%
Adjusted1 -8.0% 5.0%
Sales -6.6% -0.7%
Adjusted1 -5.2% -0.9%
Order Backlog 2,419.8 2,478.1 2.4% 2,419.8 2,478.1 2.4%
EBITDA2 111.2 140.4 26.2% 506.3 538.8 6.4%
EBITDA Margin2 8.9% 12.1% 314 bps 10.4% 11.1% 74 bps
EBIT2 57.5 93.4 62.5% 274.2 336.7 22.8%
EBIT Margin2 4.6% 8.0% 341 bps 5.6% 7.0% 133 bps
ROCE3 10.5% 14.8% 428 bps 10.5% 14.8% 428 bps
1,146.8 1,034.1 4,765.2 5,008.9
1,247.3 1,164.5 4,866.4 4,833.5
4,8
59
5,0
00
4,9
18 5,0
01
4,7
65
4,8
23 4
,931
5,1
22
5,0
09
4,7
29
4,7
87
4,8
28
4,8
46
4,8
66
4,9
12
4,8
80
4,9
16
4,8
33
4,400 €m
4,600 €m
4,800 €m
5,000 €m
5,200 €m
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
Order Intake Sales
802 748 791 802 811 792 825 830 742
281210
260 219 238 192258 263
224
180
16076 127 80 148
106 144
46
1,383
1,197 1,2351,186 1,147
1,2551,343 1,377
1,034
120
79 107 38 18122
154 140
22
0 €m
200 €m
400 €m
600 €m
800 €m
1,000 €m
1,200 €m
1,400 €m
1,600 €m
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
<€1m >=€1m < €5m >=€5m < €15m >=€15m
Order Intake Development by SizeOrder Intake and Sales (L4Q)
Sales by Customer
Industry (L4Q)
12%
18%
29%
13%
7%
7%
16%Dairy Farming -2% YoY
Dairy Processing 3% YoY
Food -7% YoY
Beverage 12% YoY
Pharma -12% YoY
Chemical -7% YoY
Other 11% YoY
GEA -1% YoY
Separation & Flow Technologies – Q2 2020 figures
27GEA Q2 2020 Figures
1 Adjusted = before FX and structural effects; 2 before restructuring measures; previous year: pro-forma figures for 2018 incl. IFRS 16 effects from 2019; 3 ROCE = EBIT1 (L4Q) / Capital employed excluding EUR ~800m goodwill from the
acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L4Q)
[in EUR million] Q2 19 Q2 20 Δ YoY L4Q Q2 19 L4Q Q2 20 Δ YoY
Order Intake -11.1% 3.4%
Adjusted1 -9.8% 3.4%
Sales 4.0% 4.0%
Adjusted1 5.4% 3.7%
Order Backlog 429.8 398.5 -7.3% 429.8 398.5 -7.3%
EBITDA2 45.9 63.7 38.8% 258.0 267.0 3.5%
EBITDA Margin2 15.3% 20.4% 510 bps 21.4% 21.3% -10 bps
EBIT2 36.2 53.4 47.5% 215.6 225.5 4.6%
EBIT Margin2 12.0% 17.1% 503 bps 17.9% 18.0% 10 bps
ROCE3 21.7% 23.1% 138 bps 21.7% 23.1% 138 bps
323.4 287.6 1,213.8 1,254.8
300.7 312.8 1,206.3 1,254.3
1,1
72
1,1
90
1,1
89
1,1
95
1,2
14 1,2
70
1,2
72
1,2
91
1,2
55
1,1
07
1,1
41
1,1
75
1,1
98
1,2
06
1,2
38
1,2
38
1,2
42
1,2
54
900 €m
1,000 €m
1,100 €m
1,200 €m
1,300 €m
1,400 €m
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
Order Intake Sales
0%
21%
27%
11%
10%
6%
25%
272245
267 273 288 277 280 274 260
1424
2030
2917 30 37
2819
106
1321
2217
305
269
308 314 323 325310
332
288
0 €m
50 €m
100 €m
150 €m
200 €m
250 €m
300 €m
350 €m
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
<€1m >=€1m < €5m >=€5m < €15m >=€15m
Order Intake Development by SizeOrder Intake and Sales (L4Q)
Sales by Customer
Industry (L4Q)
Dairy Farming -28% YoY
Dairy Processing 4% YoY
Food 16% YoY
Beverage 2% YoY
Pharma -12% YoY
Chemical 2% YoY
Other 4% YoY
SFT 4% YoY
Liquid & Powder Technologies – Q2 2020 figures
GEA Q2 2020 Figures 28
1 Adjusted = before FX and structural effects; 2 before restructuring measures; previous year: pro-forma figures for 2018 incl. IFRS 16 effects from 2019; 3 ROCE = EBIT1 (L4Q) / Capital employed excluding EUR ~800m goodwill from the
acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L4Q)
[in EUR million] Q2 19 Q2 20 Δ YoY L4Q Q2 19 L4Q Q2 20 Δ YoY
Order Intake -8.4% 23.3%
Adjusted1 -6.6% 22.7%
Sales -5.1% 3.4%
Adjusted1 -4.3% 2.8%
Order Backlog 1,128.1 1,318.2 16.9% 1,128.1 1,318.2 16.9%
EBITDA2 24.9 37.4 50.4% 78.7 115.1 46.2%
EBITDA Margin2 5.6% 8.9% 326 bps 4.7% 6.7% 195 bps
EBIT2 14.5 28.3 94.8% 29.0 72.1 148.9%
EBIT Margin2 3.3% 6.7% 343 bps 1.7% 4.2% 244 bps
ROCE3 11.3% 46.1% 3481 bps 11.3% 46.1% 3481 bps
365.3 334.8 1,584.9 1,953.9
445.2 422.6 1,672.8 1,729.9
1,6
53
1,7
19
1,6
24
1,7
36
1,5
85
1,6
62 1
,828 1
,984
1,9
54
1,6
97
1,6
73
1,6
45
1,6
61
1,6
73
1,7
07
1,7
29
1,7
53
1,7
30
1,000 €m
1,200 €m
1,400 €m
1,600 €m
1,800 €m
2,000 €m
2,200 €m
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
Order Intake Sales
35%
13%27%
4%
14%
7%
196160
202 194 212 215 202 192 176
121
86
110 9298 99 117 116
111
103
10355 86 55
86 75 117
26
96
79 16 38
105154
140
22
517
428
382410
365
505
549 566
335
0 €m
100 €m
200 €m
300 €m
400 €m
500 €m
600 €m
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
<€1m >=€1m < €5m >=€5m < €15m >=€15m
Order Intake Development by SizeOrder Intake and Sales (L4Q)
Sales by Customer
Industry (L4Q)
Dairy Farming n.a
Dairy Processing 2% YoY
Food -11% YoY
Beverage 16% YoY
Pharma -2% YoY
Chemical -13% YoY
Other 107% YoY
LPT 3% YoY
Food & Healthcare Technologies – Q2 2020 figures
GEA Q2 2020 Figures 29
1 Adjusted = before FX and structural effects; 2 before restructuring measures; previous year: pro-forma figures for 2018 incl. IFRS 16 effects from 2019; 3 ROCE = EBIT1 (L4Q) / Capital employed excluding EUR ~800m goodwill from the
acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L4Q)
[in EUR million] Q2 19 Q2 20 Δ YoY L4Q Q2 19 L4Q Q2 20 Δ YoY
Order Intake -13.5% -13.2%
Adjusted1 -13.4% -13.5%
Sales -5.8% -5.5%
Adjusted1 -5.6% -5.8%
Order Backlog 597.7 501.9 -16.0% 597.7 501.9 -16.0%
EBITDA2 12.1 21.6 78.2% 77.3 73.3 -5.1%
EBITDA Margin2 4.8% 9.1% 429 bps 7.8% 7.8% 3 bps
EBIT2 -0.8 8.8 n.a 9.6 21.2 121.3%
EBIT Margin2 -0.3% 3.7% 406 bps 1.0% 2.3% 129 bps
ROCE3 1.3% 3.9% 259 bps 1.3% 3.9% 259 bps
222.2 192.1 1,001.3 868.8
251.6 236.9 992.6 937.9
932 9
86 1,0
70
1,0
83
1,0
01
978
914
899
869
874 9
40 982
980
993
987
963
953
938
500 €m
600 €m
700 €m
800 €m
900 €m
1,000 €m
1,100 €m
1,200 €m
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
Order Intake Sales
1%
78%
2%
17%
1%
129 137 149 136 143 127152 143
122
10569
7870 62
50
7266
56
45
2811
31
17
2113
14
2469
1815
304
234
307
238222
210
244222
192
0 €m
50 €m
100 €m
150 €m
200 €m
250 €m
300 €m
350 €m
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
<€1m >=€1m < €5m >=€5m < €15m >=€15m
Order Intake Development by SizeOrder Intake and Sales (L4Q)
Sales by Customer
Industry (L4Q)
Dairy Farming n.a
Dairy Processing n.a
Food -7% YoY
Beverage 107% YoY
Pharma -14% YoY
Chemical n.a
Other n.a
FHT -6% YoY
Farm Technologies – Q2 2020 figures
GEA Q2 2020 Figures 30
1 Adjusted = before FX and structural effects; 2 before restructuring measures; previous year: pro-forma figures for 2018 incl. IFRS 16 effects from 2019; 3 ROCE = EBIT1 (L4Q) / Capital employed excluding EUR ~800m goodwill from the
acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L4Q)
[in EUR million] Q2 19 Q2 20 Δ YoY L4Q Q2 19 L4Q Q2 20 Δ YoY
Order Intake -1.2% 1.7%
Adjusted1 2.3% 2.1%
Sales -9.7% -3.7%
Adjusted1 -6.3% -3.4%
Order Backlog 165.1 163.2 -1.2% 165.1 163.2 -1.2%
EBITDA2 13.2 14.9 12.7% 66.9 66.8 -0.2%
EBITDA Margin2 8.2% 10.3% 204 bps 10.1% 10.4% 37 bps
EBIT2 1.3 8.0 500.2% 32.4 43.8 35.3%
EBIT Margin2 0.8% 5.5% 471 bps 4.9% 6.9% 198 bps
ROCE3 10.3% 14.6% 428 bps 10.3% 14.6% 428 bps
157.8 155.9 643.9 654.8
160.1 144.6 663.7 638.9
698
700
674
653
644
630 642 657
655
662
666
663
668
664
660
656
654
639
500 €m
550 €m
600 €m
650 €m
700 €m
750 €m
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
Order Intake Sales
164 154 148 158146 152 161 162
146
310
54
12 54
16
10
6
167 170
153162 158 156
165177
156
0 €m
20 €m
40 €m
60 €m
80 €m
100 €m
120 €m
140 €m
160 €m
180 €m
200 €m
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
<€1m >=€1m < €5m >=€5m < €15m >=€15m
Order Intake Development by SizeOrder Intake and Sales (L4Q)
Sales by Customer
Industry (L4Q)
100%
Dairy Farming -4% YoY
Dairy Processing n.a
Food n.a
Beverage n.a
Pharma n.a
Chemical n.a
Other n.a
FT -4% YoY
Refrigeration Technologies – Q2 2020 figures
GEA Q2 2020 Figures 31
1 Adjusted = before FX and structural effects; 2 before restructuring measures; previous year: pro-forma figures for 2018 incl. IFRS 16 effects from 2019; 3 ROCE = EBIT1 (L4Q) / Capital employed excluding EUR ~800m goodwill from the
acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L4Q)
[in EUR million] Q2 19 Q2 20 Δ YoY L4Q Q2 19 L4Q Q2 20 Δ YoY
Order Intake -30.0% -12.1%
Adjusted1 -27.6% -11.9%
Sales -13.4% -7.2%
Adjusted1 -10.8% -7.1%
Order Backlog 295.7 265.1 -10.4% 295.7 265.1 -10.4%
EBITDA2 14.9 13.0 -12.6% 59.1 66.7 12.9%
EBITDA Margin2 7.9% 7.9% 7 bps 7.8% 9.5% 170 bps
EBIT2 9.7 8.0 -17.7% 35.8 44.4 24.1%
EBIT Margin2 5.1% 4.8% -26 bps 4.7% 6.3% 160 bps
ROCE3 13.3% 17.8% 455 bps 13.3% 17.8% 455 bps
197.7 138.4 771.1 677.8
189.5 164.2 754.6 699.9
777 799
799
783
771
751
707 7
37
678
746
752 778
760
755
743
705 725
700
600 €m
800 €m
1,000 €m
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
Order Intake Sales
160 152 164132 142
122 135 138106
3821
48
2338
21
34 38
27
12
23
11
18
3210 9
6
210196
223
154
198
175 179 184
138
0 €m
50 €m
100 €m
150 €m
200 €m
250 €m
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
<€1m >=€1m < €5m >=€5m < €15m >=€15m
Order Intake Development by SizeOrder Intake and Sales (L4Q)
Sales by Customer
Industry (L4Q)
4%
35%
4%2%
54%
Dairy Farming n.a
Dairy Processing 0% YoY
Food -21% YoY
Beverage -20% YoY
Pharma n.a
Chemical 344% YoY
Other 5% YoY
RT -7% YoY
Service sales
32GEA Q2 2020 Figures
116 110133 119 124 130 137 121 126
80 78
101
71100 97
115
8693
52 58
63
54
60 58
64
5857
67 73
72
67
68 73
78
72 68
71 68
80
55
65 61
69
60 59
368 366
428
346
394 396
438
375 381
Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT LPT FHT FT RT
Figures are shown in EUR million. Totals differ from sum below due to consolidation effects.
Development of selected P&L items
33GEA Q2 2020 Figures
€m Q2 20 Q2 19 ∆ YoY Comment
Sales 1,164.5 1,247.3 -6.6%
Gross profit 356.5 352.9 1.0%Lower volume overcompensated by higher margin; last year was burdened by special
charges from backlog review
Selling expenses 136.6 157.0 -13.0% Improvement mostly due to reduced travel, advertising and marketing expenses
Research and development expenses 21.4 26.1 -18.0% Mainly a result of lower D&A and other expenses
General and administrative expenses 117.9 110.7 6.5% Higher IT and consulting expenses
Other income 85.2 55.9 52.5% Increase due to currency gains
Other expenses 83.4 70.6 18.1% Increase due to currency losses; last year included €16m provision for legal cases
Earnings before interest and tax (EBIT) 71.2 38.2 86.1%
Profit before tax from continuing operations 66.4 34.6 92.0%
Income taxes 21.2 8.0 166.2%Tax rate of 31.9% in Q2 20 due to income from countries where we can not use tax
loss carry forwards. New guidance for FY 20: ~30%
Profit after tax from continuing operations 45.2 26.6 69.9%
Profit for the period 45.2 25.4 78.1%
Basic and diluted earnings per share (€) 0.25 0.14 78.6%
Growth Breakdown Order Intake
34GEA Q2 2020 Figures
in EURm Δ abs Δ in % Δ abs Δ in % Δ abs Δ in % Δ abs Δ in %
Order Intake previous period 1.147 1.377 2.333 4.765
Structural Change - - - - - - - -
Currency Translation -21 -1,8% -15 -1,1% -24 -1,0% 7 0,1%
Like-for-Like Development -92 -8,0% -328 -23,8% 101 4,3% 237 5,0%
Order Intake current period 1.034 -9,8% 1.034 -24,9% 2.411 3,3% 5.009 5,1%
Q2 20 vs. Q2 19 Q2 20 vs. Q1 20Q1 - Q2 20 vs.
Q1 - Q2 19
L4Q Q2 20 vs.
L4Q Q2 19
Growth Breakdown Sales
35GEA Q2 2020 Figures
in EURm Δ abs Δ in % Δ abs Δ in % Δ abs Δ in % Δ abs Δ in %
Sales previous period 1.247 1.094 2.305 4.866
Structural Change - - - - - - - -
Currency Translation -19 -1,5% -17 -1,5% -19 -0,8% 13 0,3%
Like-for-Like Development -64 -5,2% 87 8,0% -27 -1,2% -45 -0,9%
Sales current period 1.165 -6,6% 1.165 6,5% 2.258 -2,0% 4.833 -0,7%
Q2 20 vs. Q2 19 Q2 20 vs. Q1 20Q1 - Q2 20 vs.
Q1 - Q2 19
L4Q Q2 20 vs.
L4Q Q2 19
Order intake split as of Q2 2020 L4Q: Top 30 countries account for 86% of order intake
36GEA Q2 2020 Figures
Top DM Countries Share Delta LTM % BtB Top EM Countries Share Delta LTM % BtB
United States 16% 0,99 China 10% 1,16
Germany 9% 1,14 Russian Federation 3% 0,87
France 5% 1,12 Poland 3% 1,32
Netherlands 4% 1,15 Brazil 3% 1,19
Spain 3% 1,11 India 2% 0,83
Italy 3% 1,05 Indonesia 2% 1,12
United Kingdom 3% 0,97 Mexico 2% 0,99
Canada 2% 0,82 Vietnam 1% 1,66
Japan 2% 1,09 South Africa 1% 1,15
Ireland 2% 1,02 Turkey 1% 1,10
Belgium 2% 0,83 Thailand 1% 1,03
New Zealand 1% 0,93 Malaysia 1% 1,47
Denmark 1% 1,11 Belarus 1% 1,13
Australia 1% 0,88 Uruguay 1% 1,42
Switzerland 1% 0,77 Argentina 1% 1,09
More than 5%
Betw een 1% and 5%
Betw een -1% and 1%
Betw een -5% and -1%
Less than -5%
€m
Expectations
for 2020
(pro forma)
2019
Expectations
for 2020
(pro forma)
2019
Separation & Flow Technologies slightly declining 1,238 slightly rising 247
Liquid & Powder Technologies slightly declining 1,729 significantly rising 87
Food & Healthcare Technologies significantly declining 963 significantly rising 67
Refrigeration Technologies significantly declining 705 slightly declining 58
Farm Technologies significantly declining 656 slightly rising 60
Others - - significantly declining -39
Consolidation - -411 - -2
Sales1 EBITDA before restructuring2
1 For sales, slight” indicates a change of up to +/- 5%, w hile a change of more than +/- 5% is referred to as “signif icant”.2 For earnings f igures, “slight” indicates a change of up to +/- 10%, w hile a change of more than +/- 10% is deemed “signif icant“.
Guidance FY 2020 by division
37GEA Q2 2020 Figures
Additional financial information for FY 2020
38GEA Q2 2020 Figures
Financial result
around
-€25m
Tax rate
around
30%
Capex
around
3.0%of sales
Depreciation&
Amortization (incl.
PPA, IFRS 16)
around
€200mthereof impact from
PPA
around
€30m
FX development
39GEA Q2 2020 Figures
Currency % total Jun Q2 *FX rates Jun Q2
(average)
∆ FX YoY Jun 2020 vs
Jun 2019
EUR 46% - -
USD 18% 1,10 -2%
CNY 6% 7,75 1%
DKK 4% 7,46 0%
GBP 3% 0,87 0%
RUB 3% 76,67 4%
CAD 3% 1,50 0%
SGD 2% 1,54 0%
PLN 2% 4,41 3%
BRL 2% 5,41 25%
NZD 1% 1,76 5%
*Share of functional (i.e. local P&Ls) currencies in the translation mix of the group;
all figures on a YTD basis
Historical Timeline (1/4)
40GEA Q2 2020 Figures
1 Adjusted = before FX and structural effects; 2 before restructuring measures; previous year: pro-forma figures for 2018 incl. IFRS 16 effects from 2019; 3 ROCE = EBIT2 (L4Q) / Capital employed excluding EUR ~800m goodwill
from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L4Q); 4 no pro-forma adjustment for IFRS 16
Order Intake €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT 293 301 250 309 307 305 269 308 314 323 325 310 332 288
LPT 370 446 362 477 297 517 428 382 410 365 505 549 566 335
FHT 234 212 180 223 225 304 234 307 238 222 210 244 222 192
FT 167 170 168 180 183 167 170 153 162 158 156 165 177 156
RT 181 194 174 224 170 210 196 223 154 198 175 179 184 138
Cons./ Other (109) (82) (77) (96) (81) (119) (99) (139) (92) (120) (117) (104) (105) (75)
GEA 1.136 1.241 1.057 1.317 1.103 1.383 1.197 1.235 1.186 1.147 1.255 1.343 1.377 1.034
Order Intake Group < 1 €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT 251 257 239 263 271 272 245 267 273 288 277 280 274 260
LPT 180 184 154 197 181 196 160 202 194 212 215 202 192 176
FHT 145 110 118 167 165 129 137 149 136 143 127 152 143 122
FT 159 166 165 164 171 164 154 148 158 146 152 161 162 146
RT 133 153 130 155 147 160 152 164 132 142 122 135 138 106
GEA 758 789 729 850 853 802 748 791 802 811 792 825 830 742
Order Intake Group >= 1 €m < 5 €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT 23 24 18 25 28 14 24 20 30 29 17 30 37 28
LPT 103 131 82 160 93 121 86 110 92 98 99 117 116 111
FHT 45 38 44 41 61 105 69 78 70 62 50 72 66 56
FT 9 4 3 17 12 3 10 5 4 12 5 4 16 10
RT 31 30 38 28 23 38 21 48 23 38 21 34 38 27
GEA 211 227 185 270 218 281 210 260 219 238 192 258 263 224
Order Intake Group >= 5 €m < 15 €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT 19 20 (7) 22 9 19 - - 10 6 13 - 21 -
LPT 65 53 90 61 23 103 103 55 86 55 86 75 117 26
FHT 16 6 18 15 - 45 28 11 31 - 17 21 13 14
FT - - - - - - 6 - - - - - - -
RT 17 11 5 24 - 12 23 11 - 18 32 10 9 6
GEA 116 89 107 122 32 180 160 76 127 80 148 106 144 46
Order Intake Group >= 15 €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT - - - - - - - 22 - - 17 - - -
LPT 22 78 35 59 - 96 79 16 38 - 105 154 140 22
FHT 28 58 - - - 24 - 69 - 18 15 - - -
FT - - - - - - - - - - - - - -
RT - - - 16 - - - - - - - - - -
GEA 50 136 35 75 - 120 79 107 38 18 122 154 140 22
Adj. Order Intake Growth1 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT 5,3% (2,3%) (2,4%) 15,1% 10,7% 4,7% 7,5% 1,1% 1,5% 5,4% 19,6% 0,5% 6,0% (9,8%)
LPT (20,8%) (2,5%) (5,8%) 7,5% (20,3%) 18,4% 19,7% (20,1%) 36,4% (30,4%) 15,9% 41,5% 38,3% (6,6%)
FHT 33,4% 24,0% (4,2%) (1,5%) (21,7%) 17,3% 5,3% 30,6% 4,7% (27,3%) (10,6%) (21,1%) (6,7%) (13,4%)
FT 11,1% 6,2% 23,9% 26,4% 18,9% 4,7% 6,5% (13,0%) (11,4%) (5,4%) (10,3%) 7,2% 10,1% 2,3%
RT 2,3% (8,7%) 8,1% 16,6% (3,2%) 11,3% 14,8% 0,8% (8,5%) (5,1%) (11,2%) (20,7%) 19,8% (27,6%)
GEA (4,9%) 0,6% (0,0%) 10,4% (3,8%) 9,9% 10,7% (6,8%) 7,0% (17,6%) 3,3% 7,8% 16,3% (8,0%)
Historical Timeline (2/4)
41GEA Q2 2020 Figures
1 Adjusted = before FX and structural effects; 2 before restructuring measures; previous year: pro-forma figures for 2018 incl. IFRS 16 effects from 2019; 3 ROCE = EBIT2 (L4Q) / Capital employed excluding EUR ~800m goodwill
from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L4Q); 4 no pro-forma adjustment for IFRS 16
Order Backlog Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT 357 360 350 351 403 421 396 370 413 430 427 397 429 398
LPT 1.348 1.336 1.246 1.200 1.130 1.226 1.239 1.160 1.230 1.128 1.205 1.254 1.417 1.318
FHT 409 435 443 533 541 586 586 610 630 598 575 555 556 502
FT 143 156 150 139 185 187 182 149 168 165 142 123 150 163
RT 277 271 261 280 288 300 312 305 289 296 298 284 289 265
Cons./ Other (145) (149) (150) (151) (146) (167) (165) (179) (178) (197) (210) (200) (212) (169)
GEA 2.389 2.410 2.300 2.351 2.401 2.554 2.550 2.416 2.551 2.420 2.436 2.412 2.629 2.478
Sales Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT 255 282 259 305 251 293 292 339 275 301 324 340 278 313
LPT 356 421 427 490 346 434 403 462 362 445 438 484 385 423
FHT 173 176 172 238 226 239 237 281 223 252 232 256 213 237
FT 132 152 171 188 138 165 175 185 143 160 171 182 141 145
RT 159 183 179 205 167 195 185 230 149 189 173 193 170 164
Cons./ Other (71) (75) (77) (95) (88) (98) (105) (124) (95) (100) (104) (113) (94) (117)
GEA 1.004 1.138 1.131 1.331 1.039 1.227 1.189 1.373 1.057 1.247 1.235 1.340 1.094 1.165
Adj. Sales Growth1 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT 9,5% (0,4%) (4,6%) 5,6% 3,6% 7,6% 14,9% 12,4% 8,8% 2,6% 9,2% (0,6%) 1,4% 5,4%
LPT 2,9% 1,0% 12,6% (0,1%) 0,0% 4,8% (5,6%) (5,9%) 3,0% 1,4% 6,7% 3,3% 6,3% (4,3%)
FHT 14,8% (7,2%) (1,8%) 8,1% 13,7% 9,1% 14,7% 5,0% (2,1%) 4,7% (2,6%) (9,3%) (4,9%) (5,6%)
FT 1,0% 6,4% 18,8% 20,4% 13,5% 16,2% 7,0% 0,9% 3,8% (3,1%) (4,1%) (2,7%) (0,4%) (6,3%)
RT (0,6%) (3,3%) (1,0%) 7,3% 8,6% 10,0% 4,4% 13,6% (9,8%) (2,5%) (7,5%) (17,4%) 13,9% (10,8%)
GEA 3,3% (2,5%) 4,3% 4,7% 4,5% 6,7% 2,8% 1,6% 1,0% 1,1% 2,4% (3,4%) 3,5% (5,2%)
Book-to-bill ratio Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT 1,15 1,07 0,97 1,01 1,23 1,04 0,92 0,91 1,14 1,08 1,00 0,91 1,19 0,92
LPT 1,04 1,06 0,85 0,97 0,86 1,19 1,06 0,83 1,13 0,82 1,15 1,13 1,47 0,79
FHT 1,35 1,20 1,05 0,94 1,00 1,27 0,98 1,10 1,07 0,88 0,90 0,95 1,05 0,81
FT 1,26 1,12 0,98 0,96 1,33 1,01 0,97 0,83 1,13 0,99 0,91 0,91 1,25 1,08
RT 1,14 1,06 0,97 1,09 1,02 1,08 1,06 0,97 1,03 1,04 1,01 0,93 1,09 0,84
GEA 1,13 1,09 0,93 0,99 1,06 1,13 1,01 0,90 1,12 0,92 1,02 1,00 1,26 0,89
EBITDA before restructuring €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT 46 67 54 87 44 57 77 78 58 46 74 69 60 64
LPT 16 26 8 63 1 25 22 39 (7) 25 30 40 8 37
FHT 10 10 10 21 15 22 20 26 19 12 16 19 16 22
FT 8 13 21 24 8 15 20 28 6 13 19 22 11 15
RT 13 17 16 18 13 23 20 18 7 15 18 18 17 13
Cons./ Other 2 (18) 3 (11) (4) 0 (13) (13) (8) 0 (14) (18) (8) (10)
GEA 95 115 112 201 77 142 145 175 75 111 143 150 105 140
EBITDA before restructuring margin Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT 18,2% 23,7% 20,9% 28,4% 17,4% 19,5% 26,2% 22,9% 21,0% 15,3% 23,0% 20,4% 21,5% 20,4%
LPT 4,5% 6,3% 1,9% 12,8% 0,2% 5,7% 5,6% 8,4% (2,0%) 5,6% 6,8% 8,2% 2,1% 8,9%
FHT 5,7% 5,4% 6,1% 8,7% 6,7% 9,1% 8,2% 9,3% 8,7% 4,8% 6,9% 7,5% 7,8% 9,1%
FT 5,8% 8,4% 12,0% 12,9% 6,0% 9,1% 11,4% 15,0% 4,2% 8,2% 11,2% 12,0% 7,7% 10,3%
RT 8,2% 9,1% 8,9% 8,6% 7,7% 11,8% 10,5% 7,6% 4,8% 7,9% 10,3% 9,5% 10,2% 7,9%
GEA 9,5% 10,1% 9,9% 15,1% 7,4% 11,6% 12,2% 12,8% 7,1% 8,9% 11,6% 11,2% 9,6% 12,1%
Historical Timeline (3/4)
42GEA Q2 2020 Figures
1 Adjusted = before FX and structural effects; 2 before restructuring measures; previous year: pro-forma figures for 2018 incl. IFRS 16 effects from 2019; 3 ROCE = EBIT2 (L4Q) / Capital employed excluding EUR ~800m goodwill
from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L4Q); 4 no pro-forma adjustment for IFRS 16
Depreciation & amortization2 €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT (6) (6) (6) (6) (9) (9) (9) (11) (9) (9) (9) (10) (10) (10)
LPT (3) (3) (3) (6) (8) (8) (9) (11) (9) (10) (9) (14) (9) (9)
FHT (3) (3) (3) (4) (6) (7) (7) (8) (7) (7) (7) (7) (7) (7)
FT (5) (5) (5) (5) (6) (7) (7) (8) (6) (12) (7) (2) (6) (6)
RT (2) (2) (2) (3) (5) (5) (6) (6) (5) (5) (5) (6) (5) (5)
Cons./ Other (1) (2) (2) (0) (4) (4) (5) (3) (4) (4) (4) (10) (4) (3)
GEA (20) (21) (22) (24) (38) (40) (42) (46) (40) (46) (42) (49) (41) (40)
PPA Depreciation & amortization2 €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT (1) (1) (1) (1) (1) (1) (1) (3) (1) (1) (1) (1) (0) (0)
LPT (1) (1) (1) (0) (1) (1) (1) (9) (1) (1) (1) (1) (1) (1)
FHT (5) (5) (5) (8) (9) (8) (8) (19) (6) (6) (6) (6) (6) (6)
FT (0) (1) (1) (1) (1) (1) (0) (0) (0) (0) (0) (1) (0) (0)
RT (0) (0) (0) (0) (0) (0) (0) (0) (0) (0) (0) (0) (0) (0)
Cons./ Other - - (0) 0 - - - 0 - - - 0 - -
GEA (7) (7) (8) (10) (11) (11) (11) (32) (8) (8) (8) (8) (7) (7)
EBIT before restructuring €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT 40 60 48 80 34 47 67 64 48 36 64 58 50 53
LPT 12 23 4 56 (8) 16 12 19 (17) 15 20 25 (2) 28
FHT 2 2 2 9 0 6 4 (1) 7 (1) 3 6 4 9
FT 3 7 15 19 1 8 12 19 (0) 1 12 19 4 8
RT 10 14 13 15 7 18 13 11 2 10 12 12 12 8
Cons./ Other 1 (19) 0 (11) (8) (3) (17) (15) (12) (3) (18) (28) (11) (13)
GEA 68 87 83 168 28 91 92 97 27 57 94 93 56 93
EBIT before restructuring margin Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT 15,7% 21,4% 18,4% 26,2% 13,6% 16,2% 23,0% 18,8% 17,6% 12,0% 19,9% 17,1% 17,9% 17,1%
LPT 3,3% 5,4% 0,9% 11,5% (2,2%) 3,6% 3,0% 4,1% (4,7%) 3,3% 4,6% 5,2% (0,4%) 6,7%
FHT 1,3% 1,0% 1,4% 3,7% 0,2% 2,7% 1,9% (0,2%) 2,9% (0,3%) 1,2% 2,3% 1,7% 3,7%
FT 1,9% 4,9% 8,8% 10,0% 1,0% 4,6% 7,1% 10,3% (0,3%) 0,8% 7,2% 10,7% 2,9% 5,5%
RT 6,5% 7,6% 7,4% 7,1% 4,4% 9,0% 7,2% 4,8% 1,2% 5,1% 7,0% 6,3% 7,1% 4,8%
GEA 6,8% 7,6% 7,3% 12,6% 2,7% 7,4% 7,8% 7,1% 2,6% 4,6% 7,6% 7,0% 5,2% 8,0%
EBITDA4 €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT 45 64 50 85 40 54 72 51 57 45 74 55 60 62
LPT 15 24 8 59 (4) 21 18 32 (8) 23 30 10 8 37
FHT 10 10 10 20 13 19 17 24 19 12 16 9 16 21
FT 8 13 20 23 6 12 17 24 6 13 18 8 11 17
RT 13 16 16 17 10 20 16 14 7 11 18 17 17 14
Cons./ Other 1 (20) 2 (9) (8) (4) (20) (16) (13) (3) (17) (34) (15) (19)
GEA 91 107 107 194 57 123 121 130 69 101 139 65 97 132
EBITDA margin4 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT 17,6% 22,8% 19,2% 27,9% 16,0% 18,5% 24,8% 15,2% 20,8% 14,9% 22,8% 16,2% 21,4% 19,8%
LPT 4,1% 5,7% 1,9% 12,0% (1,0%) 4,8% 4,4% 7,0% (2,1%) 5,2% 6,8% 2,1% 2,1% 8,8%
FHT 5,7% 5,4% 6,1% 8,3% 5,7% 8,0% 7,2% 8,6% 8,7% 4,8% 6,9% 3,6% 7,7% 9,1%
FT 5,8% 8,3% 11,9% 12,0% 4,4% 7,5% 9,7% 13,0% 4,1% 8,0% 10,8% 4,6% 7,5% 11,5%
RT 8,2% 8,7% 8,7% 8,3% 6,0% 10,5% 8,8% 6,3% 4,8% 5,9% 10,3% 8,7% 10,2% 8,3%
GEA 9,1% 9,4% 9,4% 14,6% 5,5% 10,0% 10,2% 9,5% 6,6% 8,1% 11,2% 4,9% 8,9% 11,4%
Historical Timeline (4/4)
43GEA Q2 2020 Figures
1 Adjusted = before FX and structural effects; 2 before restructuring measures; previous year: pro-forma figures for 2018 incl. IFRS 16 effects from 2019; 3 ROCE = EBIT2 (L4Q) / Capital employed excluding EUR ~800m goodwill
from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L4Q); 4 no pro-forma adjustment for IFRS 16
EBIT4 €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT 39 58 43 78 34 47 66 35 48 35 63 44 50 50
LPT 11 20 4 52 (8) 16 12 17 (17) 5 20 (4) (2) 28
FHT 2 2 2 8 0 6 4 (0) 7 (1) 3 (262) 4 9
FT 3 7 15 17 1 7 12 18 (1) 1 11 2 4 (3)
RT 10 13 13 14 7 17 13 11 2 5 12 6 12 9
Cons./ Other (1) (21) 0 (9) (10) (6) (23) (17) (16) (7) (21) (44) (19) (22)
GEA 64 79 78 160 24 88 85 64 22 38 89 (258) 48 71
EBIT margin4 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT 15,1% 20,5% 16,8% 25,7% 13,4% 16,2% 22,7% 10,3% 17,4% 11,6% 19,6% 12,9% 17,8% 16,1%
LPT 3,0% 4,8% 0,9% 10,6% -2,4% 3,6% 2,9% 3,7% -4,8% 1,2% 4,5% -0,9% -0,5% 6,7%
FHT 1,3% 1,0% 1,4% 3,3% 0,2% 2,5% 1,8% -0,2% 2,9% -0,3% 1,2% -102,2% 1,6% 3,7%
FT 1,9% 4,8% 8,7% 9,2% 0,8% 4,4% 6,8% 9,8% -0,5% 0,6% 6,7% 1,4% 2,7% -2,0%
RT 6,4% 7,1% 7,1% 6,8% 4,2% 9,0% 7,1% 4,9% 1,2% 2,7% 7,0% 3,0% 7,1% 5,2%
GEA 6,3% 6,9% 6,9% 12,0% 2,3% 7,1% 7,1% 4,7% 2,1% 3,1% 7,2% -19,2% 4,4% 6,1%
Capital Employed3 (avg. L4Q) €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT 627 720 812 893 912 935 964 987 982 994 1.005 1.007 995 978
LPT 171 169 171 183 209 235 271 276 241 254 257 253 209 156
FHT 674 575 470 446 532 627 726 735 718 730 738 681 619 547
FT 293 299 302 304 305 311 316 323 309 313 320 320 313 300
RT 220 227 237 252 267 287 306 314 277 272 269 267 260 249
Cons./ Other 30 (5) (42) (28) (20) (2) 9 23 22 28 41 38 41 41
GEA 2.014 1.986 1.950 2.050 2.206 2.394 2.592 2.657 2.548 2.591 2.630 2.566 2.437 2.271
ROCE2,3 (avg. L4Q) Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
SFT - - - 25,5% 24,4% 22,4% 23,8% 21,6% 23,1% 21,7% 21,2% 20,5% 20,9% 23,1%
LPT - - - 51,6% 36,0% 29,1% 28,2% 14,3% 12,5% 11,3% 14,3% 17,0% 28,0% 46,1%
FHT - - - 3,4% 2,5% 2,9% 2,8% 1,5% 2,3% 1,3% 1,1% 2,1% 1,9% 3,9%
FT - - - 14,5% 14,0% 13,8% 12,7% 12,5% 12,4% 10,3% 10,1% 10,2% 11,9% 14,6%
RT - - - 20,6% 18,3% 18,4% 17,3% 15,7% 15,8% 13,3% 13,1% 13,4% 17,7% 17,8%
GEA - - - 19,8% 16,6% 15,5% 14,6% 11,6% 12,0% 10,5% 10,5% 10,6% 12,3% 14,8%
gea.com