Presentation%20new%20york%20conference%20january%202015 tcm30 25566

GEA Group Aktiengesellschaft

New York, January 12th, 2014

Presentation German Investment Seminar 2015

engineering for a better world

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%.

Disclaimer

GEA - German Investment Seminar January 2015 New York 2


Table of Contents

GEA Equity Story Pages 4 - 28

Q3 2014 Results Presentation Pages 30 - 49

Back-ups Pages 51 - 61

Historical Key Figures GEA Group & Segments Pages 62 - 67

ADR Information Page 68



GEA is a global leader in equipment and process technology providing innovative solutions

for smart food processing and for a more efficient use of energy resources.

GEA in summary

Sales

EUR 4.3bn (FY13)

Operating EBIT Margin

10.6% (FY13)

Employees

>18,000 (Sep 14)

Market Cap

>EUR 6.5bn (Sep 14)

Dairy Farming Dairy Processing Beverages Food



You are in touch with food processed by GEA equipment every day…

GEA in summary

…we are all this and more every day.

Every 4th liter

of milk you are

consuming has been

processed through

GEA equipment.

Every 3rd instant

coffee production

line around the globe

has been built by

GEA.

Every 3rd chicken

nugget you are

eating has been

processed by our

equipment.

Every 2nd liter of

beer you are

drinking has gone

through our

components.



Urbanization

Shanghai

necessary agricultural supply area

Illustrative

What we like about the food industry (1): Steady growth rates due to continuing urbanization

2.6

5.3

2010 2050

Emerging markets (B)

1.0 1.1

2010 2050

Developed economies (B)

~ 200 million people moving into cities p.a. consuming

ever more processed and convenience food

Source: United Nations; Euromonitor; The Guardian; Oxford Economics; Documentation “Wie wird die Stadt satt” (ARD 24.09.2014)

By the year 2050 the

world’s population will live

50% in the cities

50% in the countryside

300 KM

Germany

Today the world’s

population lives

75% in the cities

25% in the countryside



What we like about the food industry (2): Stable consumer spending also in tough times

Economically

good times

Economically

difficult times



What we like about the food industry (3): Zero failure tolerance a significant entry barrier

If equipment fails in the food industry, the end-consumer’s health could be at risk

Would you as a food producer save money on a machine risking a food scandal

if the machine is not working properly?



…

…

…

…

Quality of After-Sales Service 23%

Price 30%

Machine Quality and Performance 71%

…

…

Ranking of key buying criterion according to GEA customer satisfaction survey,

September 20141

For GEA’s customers, machine quality and performance is by far #1 buying criterion

What we like about the food industry (4): Price apparently not the most decisive purchase criterion

1 Stratified sample size n=3274, external poll



Source: Frankfurter Allgemeine Zeitung (26.06.2014)

~ 3,500 new products entered

the US food market in 2012

~ 2,000 new food products p.a.

in German supermarkets alone

What we like about the food industry (5): Continuous launch of new products to stimulate demand

Additionally, higher resource efficiency (e.g. power, water usage) is a major competitive

advantage for an equipment supplier



~2%

~12%

~32%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

Top Customer Top 10 Top 50 Top 100 Top 150 Top 200

What we like about the food industry (6): GEA’s client base is highly fragmented

Cumulative Revenue Share

Number of customers

~ 30% of the Top 50 customers

are already coming from

Emerging Markets



Local Emerging Markets food producers grow faster than multinationals

1 65 listed local food players in EM with sales > EUR 1bn, in total sales of EUR 210bn in FY 2013 ; 11% CAGR based on FY 2010 – FY 2013 sales in EUR Source: Thomson Reuters

Sales CAGR FY 2010-13

Local EM

food producers1

32%

68%

1/3 of local players are

not yet GEA customers1

GEA

customers

Selection of local GEA customers in Emerging Markets

11%



Our vision “GEA 2020”: To be the first choice of our customers

Our ARTE framework defines our strategy how to reach

the target footprint “GEA 2020”

In particular we always want to be the first choice

of our customers in the relevant food industry.

the globally leading engineering group to provide smart

solutions to sophisticated process industries.

GEA to become



ARTE framework as pillars for GEA’s strategy

Regions Technologies Functional Excellence

• Exploit market

potential in target

applications

• Align GEA-wide

application strategy

and customer

approach

• Capture global

growth opportunities

• Expand local

presence

• Coordinate regional

approaches across

GEA

• Strengthen

innovation and

technological

leadership

• Foster cross-

business colla-

boration in R&D

• Increase efficiency

in operations and

support functions

• Reduce

organizational

complexity

Target Footprint 2020

Applications

• Exploit market

potential in target

applications

• Align GEA-wide

application strategy

and customer

approach



1

4

2

3

5

8

6

Targeted applications for target footprint “GEA 2020”

Grow leading position in dairy

Grow leading position in liquid food

Strengthen personal care

Expand in animal proteins

Expand in total solutions for

edible oils, starch & sugar

Enter confectionery, biscuits & pizza

Strengthen packaging

competencies

Foster processing intelligence &

automation

7



Example how GEA executes its application strategy

Milk intake

& preparation

Milk storage

& distribution Standardization

Bacteria removal

(optional) Pasteurization

Whey drainage

& pre-press Pressing

Water cooling,

brining, ripening

Cutting

& Slicing

Primary

packaging

Curd

production

Final process Press & ripe Coagulate & de-whey

Bacteria

starter mixing

• Milking

parlor

• Standardization

separator

• Sterilization

separator

• Heat

exchanger

• Valves

• Pumps

• Tanks

• Tank

• Dosing unit • Cheese vat • Pressing line • Brining system

• Brine treatment

• Cutter

• Slicer

• Packer • Curd filler

Milk intake & preparation



GEA’s food exposure 75% - 80%

Food

Non-

Food

Sales exposure 2020:

75% - 80% food No 100% food exposure due to multi-purpose

functionality of our products:



Project “Fit for 2020”: From four stand-alone Segments to two integrated Business Areas

Current Organization Future Blueprint

Executive Board

• Stand-alone effective Segments driving

own technologies and market approaches

• Limited group perspective and role of the

corporate center

• Each Segment with individual go-to-market

concepts and regional footprint

• Bundling of Segments into two BAs

according to business model logic

• “One GEA” in countries as a platform for

growth within regions / countries

• Strengthening and streamlining of

global group functions

• Increased efficiency and standardization in

newly established Shared Service Center

Equipment BA

Solutions BA

Global Corp.

Center

SSC RT FT ME PE Head-

quarter

Regions Regions Regions Regions

Support Support Support Support

Regions / Countries

Executive Board



A pplications R egions T echnologies Functional E xcellence

Future organizational set-up (“Fit for 2020”) reflects all elements of ARTE strategy

Executive Board

Shared Services Center (SCC)

Global Corporate Center (GCC)

North

America

Latin

America

Western E.

& MEA

Nordics, UK/IE,

& BeNeLux Asia-Pacific

DACH &

Eastern E.

Product Engineering & Development

Product Management & Sales

Supply Chain & Production

Equipment Service

Global Corporate Center (GCC)

Technology Centers

Application Centers

Solutions Service

Equipment Business Area Solutions Business Area

A

R

T

T E

E

T



Financial Targets

FY 2014 - 2020

CAGR Organic Sales Growth FY 2014 - FY 2020: 4% to 6% p.a.

FY 2017 - 2020

Service to Sales Ratio: ~30%

Operating EBIT Margin: 13% to 16%

Working Capital to Sales Ratio: 10% to 12%

Capex to Sales Ratio: 1.5% to 2.0%

Cash Flow Driver Margin: 12% to 15%

ROCE: 20% to 25%

Net Effective Tax Rate: 24%



Financial Targets for FY 2014 - FY 2020: Organic sales growth of 4% to 6% p.a. until 2020

(Index 2009 = 100)

70

80

90

100

110

120

130

2009 2010 2011 2012 2013

GEA:

+5.8% p.a.

GDP:

+3.8% p.a.

GEA’s organic sales growth until 2020:

4% to 6% CAGR

until 2020

GEA’s organic sales growth 2009 – 2013

has outperformed GDP by ~200 bps



294

192

248

403 426

459 493

8.8%

6.8%

8.4%

10.5% 10.3% 10.6% 11.1%

13,2%

2008 2009 2010 2011 2012 2013 Q3 2014(LTM)

1 Target 2017-2020

Operating EBIT Operating EBIT-Margin (LTM)

GEA has gradually managed up Operating EBIT Margin to > 11%

Financial Targets for FY 2017 - FY 2020: Operating EBIT Margin: 13% to 16%

Sales growth

[EURm]

16%

13% 100

Savings

“Fit for 2020“

Target

2017 - 2020

Target

Range



Strong focus on ROCE and cash generation

[EURm]

1,772 1,830 1,873 1,887 1,890 1,891 1,886 1,895 1,900 1,912 1,929

17.5% 18.6% 18.6%

16.7%

18.8% 19.3% 19.6%

22.1% 22.6% 22.9% 23.2%

Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14

Capital Employed (average LTM) ROCE (average LTM)

Note: ROCE LTM = EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)

ROCE > 23%

-138 -147 -132 -88 -26 10 33 19 -1 -19 -38

410 436 441 420 462 471 478 515 527 536 546

-129 -116 -120 -125

-126 -126 -124 -120 -122 -123 -114

3.6% 4.3% 4.6% 5.0%

7.4% 8.3%

9.0% 9.6% 9.3% 9.0% 8.8%

Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14

Delta Working Capital (Average LTM) EBITDA (LTM)Capex (LTM) Cash Flow Driver Margin (LTM)

[EURm]

Cash Flow Driver Margin



Sources of funds:

Significant cash flow 2015 - 2017

Stronger cash generation going forward leading to higher dividend payout ratio

2. Strengthen GEA’s application know-how by

doing (bolt-on) acquisitions over a couple of

years

3. Repayment of financial debt

4. Invest in organic business development

(Service, R&D, regional presence)

5. Distribution of residual cash to shareholders

Capital allocation priorities

2017 Proceeds GEA HX Cash flow before

M&A and dividends

~1

~2

~1

Key objectives

• Maintain financial flexibility

• Maintain investment grade credit rating

• Rating relevant gross debt: 2.0-2.5x EBITDA

• Average net financial debt: 0.5-1.0x EBITDA

[EURbn] 1. Dividend payments: Change of payout ratio

from 1/3 to 40-50% of net income



Steady growth rates

(catch-up in Emerging Markets)

Superior margin levels

(high technological requirements; high barriers to entry)

Food safety concerns

Innovation for resource efficiency

(power, water, etc.)

Summary: What we like about the food industry

Product Innovation

(continuous launch of new products to stimulate demand)

10l 1l



Preliminary FY14 order intake and FY14 sales guidance raised


FY14 Sales Guidance raised

FY14 organic sales growth is now expected to amount to approximately 5%, which

lies within the expected long-term growth corridor of 4-6% organic sales growth.

Prior to this, FY14 organic sales was only expected to grow moderately.

1,095 1,024

1,220 1,170

1,168 1,168

1,144 1,145

2013 2014

Order Intake

4,507 4,628

Q1

Q2

Q3

Q4

D -3%

D 0%

D -4%

D -6%

D 0%

[EURm]


At the condition of no unexpected economic downturns, assuming constant FX-rates

versus FY 2013 and disregarding potential acquisitions and one-off expenses we are

aiming in 2014 for:

Cash Flow Driver Margin:

Updated Guidance FY 2014 continuing operations

Organic Sales Growth

Approximately 5%

Operating EBITDA (EURm)

550 - 590


9.0% - 9.5%

EBITDA Capex D Working Capital (Average LTM)

Sales Sales Sales - - +



Key Messages

• 4% to 6% organic sales growth (FY 2014 – FY 2020)

• 13% to 16% Operating EBIT-Margin (FY 2017 – FY 2020)

GEA with clear growth and profitability targets

• Clear plans for use of net cash position within 1 – 2 years

• Change in dividend policy by raising payout ratio to a range of 40% to 50%

• Priority on M&A following clear criteria and strategic vision

Capital allocation

• Cost savings of at least EUR 100m net p.a.

• New set-up offers further potential to increase efficiency

Future organizational set-up “Fit for 2020”

GEA is the largest stock listed company to invest in the growing food processing equipment market



Strong Q3 results

Order

Intake (EURm)

1,168

Sales

(EURm)

1,146

Operating

EBITDA (EURm)

149.0

Operating

EBIT (EURm)

130.2

ROCE

23.2%

CFD Margin

8.8%

D organic:

-1% YoY

D organic:

+5% YoY D +12% YoY D +13% YoY

D +361 bps

YoY

D -19 bps

YoY

D reported:

0% YoY

Organic

growth in all

segments

Q3 record

margin of

13.0%

+74 bps YoY

Q3 record

margin of

11.4%

+75 bps YoY

Key Highlights Q3 2014:



Sales

1,089 1,146

Q3 2013 Q3 2014

[EURm] [EURm]


10.6% 11.4%

Q3 2013 Q3 2014

Operating EBIT

1,168 1,168

Q3 2013 Q3 2014

116 130

Q3 2013 Q3 2014

Order Intake

Key Figures Q3 2014 and change YoY

[EURm]

organic: -1% organic: +5%

D 0% D +5%

D +13% D +75 bps



Development LTM: Order Intake, Sales, Operating Margins

[EURm]

9.6%

11.4%

12.1% 11.9%

12.7%

7.4%

9.5%

10.5% 10.2%

11.1%

6%

7%

8%

9%

10%

11%

12%

13%

2000

3000

4000

5000

6000

Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14

Order Intake Sales Operating EBITDA Margin Operating EBIT Margin

6,000

5,000

4,000

3,000

2,000

Operating EBIT Margin first time > 11% on rolling LTM



Operating EBIT

15 21

42 46

50 48

14 19

Q3 2013 Q3 2014

175 195

515 506

358 329

151 166

Q3 2013 Q3 2014


Sales Order Intake

Segments Q3 2014

1,168 1,168

GEA RT

GEA PE

GEA ME

GEA FT

GEA RT

GEA PE

GEA ME

GEA FT

[EURm]

organic: -1%

D 0%

D -8%

D -2%

D +11%

D +10%

185 196

441 454

336 349

157 176

Q3 2013 Q3 2014

1,089 1,146

D +4%

D +3%

D +6%

D +12%

organic: +5%

D +5%

GEA RT

GEA PE

GEA ME

GEA FT

116 130

D +8%

D -5%

D +44%

D +13%

Q3 2013 Q3 2014 D YoY

GEA FT 9.2% 10.9% +173 bps

GEA ME 14.9% 13.6% -127 bps

GEA PE 9.6% 10.1% +44 bps

GEA RT 8.0% 10.7% +279 bps

GEA Group 10.6% 11.4% +75 bps

[EURm] [EURm]

D +34%



Order development per size since Q3 2010

Strong growth YoY in orders < EUR 1m (+6%)

[EURm]

518 576 596 619 705 686 669

737 711 702 745 710 722 724 747 754 773 765

139 149

173 168

185 166 208

214 172

221 175 144

234 167

211 160 170 174

65 63

64 135

135 128 111

96 102

124 107 131

102 132

67 88

103 68

33 66 41

60 58

100

44 65 112

110

162 144 121 22

123 160

0

200

400

600

800

1.000

1.200

1.400

Q3 10 Q4 10 Q1 11 Q2 11(excl.FS)

Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14

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

1,400

1,200

1,000

f L4Q:

760 f L4Q:

725 f L4Q:

705



Sales LTM per Q3 2014: Strong Western Europe driven by dairy export business

North America

D YoY: -3%

16%

Eastern Europe

& CIS

8%

D YoY: +4%

Western Europe

37%

D YoY: +13%

Latin America

D YoY: -2%

6%

Africa

D YoY: -5%

4%

Middle East

D YoY: -18%

4%

Asia-Pacific

D YoY: +3%

25%

Emerging Markets1

38%

D YoY: -4%

Top-3-Countries

USA: 15% (16%)

D abs.: -3% YoY

China: 9% (10%)

D abs.: -1% YoY

Germany: 9% (9%)

D abs.: +3% YoY

1 According to the definition of emerging/developing economies by International Monetary Fund.



Sales by Customer Industry since Q4 20091: Strong growth from dairy sector

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

.

14% (13%)

23% (22%)

22% (24%)

13% (14%)

12% (13%)

16% (14%)

Sales LTM

per Q3 2014:

EUR 4,456m

+4% YoY

Dairy Farming

D +10% YoY

Food

D -4% YoY

Beverages

D -2% YoY

Other Industries

D +16% YoY

Pharma/

Chemical

D -6% YoY Dairy

Processing

D +11% YoY

60%

100%

140%

180%

220%

Dairy Farming Dairy Processing GEA Group

60%

100%

140%

180%

220%

Q409

Q110

Q210

Q310

Q410

Q111

Q211

Q311

Q411

Q112

Q212

Q312

Q412

Q113

Q213

Q313

Q413

Q114

Q214

Q314

Pharma/Chemical Other Industries GEA Group

60%

100%

140%

180%

220%

Food Beverages GEA Group



Book to bill ratio (L4Q)

Q3 2014

Dairy Farming 1,01 5,5% 1,00 1,1% 1,05 4,8% 1,00 1,0% -6,43 0,0% 1,68 0,1% 1,04 1,6% 1,02 14,0%

Dairy Processing 0,84 8,1% 1,57 2,8% 1,06 3,1% 1,64 2,0% 1,52 0,9% 1,02 0,8% 1,30 8,1% 1,11 25,7%

Food 1,02 9,2% 0,96 2,2% 1,12 3,5% 1,12 1,4% 0,89 1,4% 1,14 0,9% 0,87 3,1% 1,00 21,8%

Beverages 0,87 3,2% 0,52 0,8% 0,80 1,1% 0,57 0,5% 2,60 2,0% 0,31 0,1% 0,84 3,5% 0,87 11,3%

Food & Beverages 0,93 26,0% 1,02 6,9% 1,04 12,4% 1,12 4,9% 1,47 4,3% 0,93 1,9% 1,05 16,3% 1,02 72,8%

Pharma 1,14 2,6% 0,50 0,3% 0,92 1,0% 1,07 0,6% 0,20 0,0% 1,04 0,3% 0,97 2,1% 0,97 7,0%

Chemical 1,02 1,3% 0,86 0,1% 0,99 1,0% 0,95 0,3% 3,25 0,1% 0,44 0,1% 1,17 2,1% 1,05 5,0%

Pharma/Chemical 1,10 4,0% 0,57 0,4% 0,95 2,0% 1,03 0,9% 0,75 0,2% 0,75 0,4% 1,06 4,1% 1,00 12,0%

Environment 1,19 1,6% 0,92 0,3% 0,94 0,7% 0,39 0,1% 1,17 0,1% 0,99 0,1% 0,96 1,1% 1,00 3,9%

Oil & Gas 1,31 0,9% 2,60 0,7% 1,03 0,8% 0,41 0,0% 2,23 0,1% 0,30 0,1% 0,40 0,7% 0,83 3,4%

Marine 1,13 1,5% 1,26 0,1% 1,00 0,1% 0,66 0,1% 0,89 0,0% 0,64 0,0% 1,35 1,9% 1,20 3,7%

Power 0,75 0,2% 0,42 0,0% 1,24 0,1% 1,07 0,1% 0,97 0,1% 0,97 0,2% 0,85 0,1% 0,89 0,9%

Others 1,08 1,2% 1,07 0,3% 0,95 0,3% 0,72 0,2% 0,48 0,0% 0,73 0,1% 1,04 1,2% 0,99 3,3%

Other Industries 1,13 5,4% 1,41 1,3% 1,00 2,1% 0,62 0,5% 1,19 0,4% 0,62 0,6% 0,89 5,0% 0,98 15,2%

Total 0,98 35,4% 1,03 8,6% 1,02 16,5% 1,03 6,3% 1,39 4,8% 0,82 2,9% 1,02 25,4% 1,01 100,0%

Latin America Africa Middle - East Asia - Pacific TotalWestern

Europe

Eastern Europe

& CIS

North America

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

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

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

Book to Bill Ratio > 1 in Food & Beverages driven by Dairy Processing



750 850 850 900

951

1,082

1,286 1,285

Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14

Order Backlog invoicable in respective FY Order Backlog invoicable after respective FY

Order Backlog: Continuously increasing

[EURm]

1.06 1.06 1.05 1.07 1.07 1.05 1.07 1.04 1.05 1.07 1.08 1.02 1.01

2,136

1,701 1,599

1,841 1,901

1,983 2,085

1,830 1,932

2,015 2,087 2,137 2,185

LTM BtB ratio #



ROCE Development: Already above 23%

[EURm]

1,772 1,830 1,873 1,887 1,890 1,891 1,886 1,895 1,900 1,912 1,929

17.5% 18.6% 18.6%

16.7%

18.8% 19.3% 19.6%

22.1% 22.6% 22.9% 23.2%

Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14

Capital Employed (average LTM) ROCE (average LTM)

Note: ROCE LTM = EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)



Working Capital ratio stabilized at around 12%

[EURm]

351

269

404 449 460

395

523 521 511

356

515 521 538

363

535

590 548

12.4% 11.6% 11.3% 11.0% 11.3% 11.4%

12.1% 12.8% 12.9% 12.7%

12.2% 11.9% 11.7% 11.7% 11.8% 11.9% 12.1%

Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14

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



Cash Flow Driver Margin Development

-138 -147 -132 -88 -26 10 33 19 -1 -19 -38

410 436 441 420 462 471 478 515 527 536 546

-129 -116 -120 -125

-126 -126 -124 -120 -122 -123 -114

3.6% 4.3% 4.6% 5.0%

7.4% 8.3% 9.0% 9.6% 9.3% 9.0% 8.8%

Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14

Delta Working Capital (Average LTM) EBITDA (LTM) Capex (LTM) Cash Flow Driver Margin (LTM)

[EURm]





Net Liquidity reconciliation incl. GEA HX

[EURm]

-356.3

Dividend

Net Debt 30.09.2014

-115.5

-6.1

Discontinued Operations -40.0

Net Debt bef. DOP, M&A and Dividend -194.7

-18.5 Delta Working Capital

-145.2 CAPEX

-140.8

678.7

Net Debt 30.09.2013

Effect from acquisitions

-515.9

Taxes / Interests

-53.0 Others

EBITDA

D +EUR 321m

Cash generation LTM: EUR ~320m

(YTD 2014: EUR 8m)



Service Business per Q3 LTM: 27% of Sales

Organic growth YoY of +8.1% (+5.2% reported)

[EURm]

1,137

240

461

242 194

1,196

257

479

266 209

GEA Group GEA FT GEA ME GEA PE GEA RT

D +8%

(+5% reported)

D +12%

(+7% reported)

D +7%

(+4% reported)

D +12%

(+10% reported)

D +10%

(+8% reported)

42% 27% 27% 41% 35% 35% 14% 14% 27% 28%

Q3 2013 LTM Q3 2014 LTM Share of Service Sales %



At the condition of no unexpected economic downturns, assuming constant FX-rates

versus FY 2013 and disregarding potential acquisitions and one-off expenses we are

aiming in 2014 for:

Cash Flow Driver Margin:

Updated Guidance FY 2014 continuing operations

Organic Sales Growth

Approximately 5%

Operating EBITDA (EURm)

550 - 590


9.0% - 9.5%





Additional Financial Information for 2014

Depreciation &

amortization

(incl PPA) (EURm)

around

100

Thereof impact

from PPA in

2014 and in

subsequent

years (EURm)

around

23p.a.

Long term

target capex

level

(of sales)

around 2%

Interest rate

financial

liabilities

below

3%p.a.

Dividend policy

payout

ratio around

40-50% of net income

Working Capital

LTM

(of sales LTM)

approx.11% -13%



Financial Targets

FY 2014 - 2020

CAGR Organic Sales Growth FY 2014 - FY 2020: 4% to 6% p.a.

FY 2017 - 2020

Service to Sales Ratio: ~30%

Operating EBIT Margin: 13% to 16%

Working Capital to Sales Ratio: 10% to 12%

Capex to Sales Ratio: 1.5% to 2.0%

Cash Flow Driver Margin: 12% to 15%

ROCE: 20% to 25%

Net Effective Tax Rate: 24%



Nov 5, 2014 Roadshow France Paris

Nov 11, 2014 Roadshow Germany Frankfurt

Nov 6, 2014 Roadshow Sweden Stockholm

Nov 11-12, 2014 Conference UK London

Nov 19, 2014 Conference UK London

Nov 21, 2014 Roadshow Belgium Brussel

Nov 26, 2014 Roadshow Switzerland Geneva

Investor Relations Calendar

Nov 27, 2014 Conference Switzerland Zurich

Nov 20, 2014 Roadshow Netherlands Amsterdam

2 0 1 4



Dec 1, 2014 Roadshow Spain Madrid

Dec 3, 2014 Roadshow Switzerland Lugano

Dec 2, 2014 Roadshow Italy Milan

Dec 1-2, 2014 Conference UK London

Dec 8, 2014 Roadshow Luxembourg Luxembourg


2 0 1 4



Jan 8, 2015 Conference France Lyon

Feb 4, 2015 Preliminary Results FY 2014 Düsseldorf

Jan 12-13, 2015 Conference USA New York

Jan 19-21, 2015 Conference Germany Frankfurt

Mar 9, 2015 Annual Report FY 2014 Düsseldorf

May 11, 2015 Interim Report Q1/2015 Düsseldorf


Apr 16, 2015 Annual General Meeting Oberhausen

2 0 1 5


Jan 14, 2015 Roadshow Canada Toronto

Jan 15, 2015 Roadshow USA Chicago


Order Intake by Size / Large Order

Development Q3 2014

518 576 596 619 705 686 669 737 711 702 745 710 722 724 747 754 773 765

139 149 173 168

185 166 208 214 172 221 175 144 234 167 211 160 170 174

65 63 64 135

135 128 111 96

102 124 107 131 102 132 67 88 103 68

33 66 41

60 58 100 44 65

112 110 162 144 121 22 123 160

0

200

400

600

800

1000

1200

1400

Q310

Q410

Q111

Q211

Q2112

Q311

Q411

Q112

Q212

Q312

Q412

Q113

Q213

Q313

Q413

Q114

Q214

Q314


7.4%

9.5% 10.5% 10.2%

11.1%

0%

2%

4%

6%

8%

10%

12%

0

1000

2000

3000

4000

5000

Q310

Q410

Q111

Q211

Q311

Q411

Q112

Q212

Q312

Q412

Q113

Q213

Q313

Q413

Q114

Q214

Q314

Order Intake Sales Operating EBIT Margin

Sales by Customer

Industry

37%

25%

16%

8%

6% 4% 4%

Western Europe

Asia-Pacific

North America

Eastern Europe&CIS

Latin America

Middle East

Africa

14%

23%

22%

13%

12%

16%

Dairy Farming

Dairy Processing

Food

Beverages

Pharma/Chemical

Other Industries

[in EUR million] Q3 2013 Q3 2014 ∆ Q1-Q3

2013

Q1-Q3

2014 ∆

Order Intake

organic 1,168.3 1,167.9

0.0%

-0.9% 3,483.4 3,362.1

-3.5%

-1.6%

Sales

organic 1,089.1 1,146.0

+5.2%

+5.2% 3,077.8 3,214.3

+4.4%

+6.4%

Order Backlog 2,136.2 2,185.4 +2.3% 2,136.2 2,185.4 +2.3%

Operating EBITDA 133.5 149.0 +11.6% 324.3 362.2 +11.7%

Operating EBITDA-

Margin 12.3% 13.0% +74 bps 10.5% 11.3% +73 bps

Operating EBIT 115.6 130.2 +12.7% 272.0 306.3 +12.6%

Operating EBIT-Margin 10.6% 11.4% +75 bps 8.8% 9.5% +69 bps

ROCE (LTM)1 19.6% 23.2% +361 bps 19.6% 23.2% +361 bps

Order Intake, Sales and Operating EBIT

Margin (LTM)

GEA Group

[EURm] [EURm]

LTM per

Q3 2014:

EUR 4,456m

+4% YoY

LTM per

Q3 2014:

EUR 4,456m

+4% YoY

+16%

-2%

-4%

+11%

+10%

Δ YoY

-18%

+4% -3% +3% +13%

Δ YoY -2%

-5%

-6%

Sales by Region

1 ROCE LTM = EBIT (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average LTM)

3,000

4,000

5,000

2,000

1,000

1,000

1,200

1,400

w/o FS Incl.FS



Sales by Customer

Industry

40%

11%

34%

8% 7%

Western Europe

Asia-Pacific

North America

Eastern Europe&CIS

Latin America

100%

Dairy Farming


2013

Q1-Q3

2014 ∆

Order Intake

organic 150.7 166.4

+10.4%

+12.2% 445.1 497.7

+11.8%

+15.9%

Sales

organic 156.9 176.4

+12.4%

+14.2% 401.5 457.2

+13.9%

+18.0%

Order Backlog 112.2 120.8 +7.6% 112.2 120.8 +7.6%


Operating EBITDA-

Margin 11.2% 12.7% +143 bps 7.3% 9.1% +181 bps

Operating EBIT 14.4 19.3 +33.6% 20.1 32.3 +61.1%


ROCE (LTM)1 11.5% 15.8% +426 bps 11.5% 15.8% +426 bps

GEA Farm Technologies

LTM per

Q3 2014:

EUR 633m

+10% YoY

LTM per

Q3 2014:

EUR 633m

+10% YoY

+10% Δ YoY -31%

+13%

+21%

+17%

Δ YoY

+17%

Sales by Region


Development Q3 2014

115 116 126 130 140 129 147 144 146 143 139 151 149 151 161 165 165

3 1 1 1 5 2 1 1

5 1

0

30

60

90

120

150

180

Q310

Q410

Q111

Q211

Q311

Q411

Q112

Q212

Q312

Q412

Q113

Q213

Q313

Q413

Q114

Q214

Q314


4.7%

6.7% 6.9% 7.2%

9.0%

0%

2%

4%

6%

8%

10%

0

200

400

600

800

Q310

Q410

Q111

Q211

Q311

Q411

Q112

Q212

Q312

Q412

Q113

Q213

Q313

Q413

Q114

Q214

Q314



Margin (LTM) [EURm] [EURm]




35%

27%

18%

7%

7% 4%

3%

Western Europe

Asia-Pacific

North America

Eastern Europe&CIS

Latin America

Middle East

Africa

Sales by Customer

Industry 14%

42% 9%

9%

26%

Dairy Processing

Food

Beverages

Pharma/Chemical

Other Industries


2013

Q1-Q3

2014 ∆

Order Intake

organic 357.7 328.7

-8.1%

-7.9% 1,033.8 996.9

-3.6%

-2.1%

Sales

organic 336.3 349.2

+3.8%

+4.0% 968.4 999.7

+3.2%

+4.8%

Order Backlog 456.8 421.7 -7.7% 456.8 421.7 -7.7%

Operating EBITDA 56.8 55.4 -2.4% 143.7 146.0 +1.6%

Operating EBITDA-

Margin 16.9% 15.9% -102 bps 14.8% 14.6% -23 bps

Operating EBIT 50.1 47.6 -5.0% 124.8 122.9 -1.5%

Operating EBIT-Margin 14.9% 13.6% -127 bps 12.9% 12.3% -60 bps

ROCE (LTM)1 13.8% 16.5% +267 bps 13.8% 16.5% +267 bps

GEA Mechanical Equipment

LTM per

Q3 2014:

EUR 1,359m

+3% YoY

LTM per

Q3 2014:

EUR 1,359m

+3% YoY

Sales by Region

+11%

-7%

-5%

-3%

Δ YoY

+20% -41%

+27% -3% +15% +2%

Δ YoY -12%

+33%


Development Q3 2014

278 280 274 336

280 271 289 289 300 301 283 311 302 297

46 30 49 42 44 26 19 38 31 40

21 27 24

9 19 7 12 8 5

8 8 11 6 7 33 17 18

0

50

100

150

200

250

300

350

400

Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14


14.2% 13.8% 13.7%

0%

2%

4%

6%

8%

10%

12%

14%

16%

0

200

400

600

800

1000

1200

1400

1600

Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14





1,200

1,400

1,600

1,000



Sales by Customer

Industry

44%

5% 24%

20%

7%

Dairy Processing

Food

Beverages

Pharma/Chemical

Other Industries

34%

33%

11%

8%

7% 4% 4%

Western Europe

Asia-Pacific

North America

Eastern Europe&CIS

Latin America

Middle East

Africa

[in EUR million] Q3 2013 Q3 2014 ∆ Q1-Q3 2013 Q1-Q3 2014 ∆

Order Intake

organic 515.2 506.4

-1.7%

-4.5% 1,566.4 1,374.0

-12.3%

-11.2%

Sales

organic 441.3 453.8

+2.8%

+1.9% 1,271.3 1,313.6

+3.3%

+4.6%

Order Backlog 1,334.9 1,370.5 +2.7% 1,334.9 1,370.5 +2.7%


Operating EBITDA

Margin 10.5% 10.9% +39 bps 9.5% 9.8% +28 bps

Operating EBIT 42.4 45.6 +7.5% 109.3 117.2 +7.2%

Operating EBIT

Margin 9.6% 10.1% +44 bps 8.6% 8.9% +32 bps

ROCE (LTM)1 70.3% 76.4% +610 bps 70.3% 76.4% +610 bps

GEA Process Engineering

LTM per

Q3 2014:

EUR 1,840m

+3% YoY

LTM per

Q3 2014:

EUR 1,840m

+3% YoY

Sales by Region

+15%

-6%

-3%

-27%

+14%

Δ YoY

-6%

+11% -20% -4% +25%

Δ YoY -3%

-10%


Development Q3 2014

136 177 169 178 167 159 186 175 170 197 174 170 166 194 184 185 182

110 119 133 122 116 121

144 107 132 100 104 155

98 130

91 96 109 43

58 59 127

90 111 82

75 101 94 126

82 124 50

69 96 55 33

66 41 60 58 100

44 65 79 78

162 127 121

22

123 160

0

100

200

300

400

500

600

Q310

Q410

Q111

Q211

Q311

Q411

Q112

Q212

Q312

Q412

Q113

Q213

Q313

Q413

Q114

Q214

Q314


7.0%

8.3% 9.5%

10.1% 10.7%

0%

2%

4%

6%

8%

10%

12%

0

400

800

1200

1600

2000

2400

Q310

Q410

Q111

Q211

Q311

Q411

Q112

Q212

Q312

Q412

Q113

Q213

Q313

Q413

Q114

Q214

Q314





1,600

2,000

2,400

1,200



43%

15%

14%

13%

2% 6%

7%

Western Europe

Asia-Pacific

North America

Eastern Europe&CIS

Latin America

Middle East

Africa

Sales by Customer

Industry 6%

51%

5%

7%

32%

Dairy Processing

Food

Beverages

Pharma/Chemical

Other Industries


2013

Q1-Q3

2014 ∆

Order Intake

organic 174.9 195.0

+11.5%

+11.9% 534.0 592.0

+10.9%

+13.5%

Sales

organic 184.8 196.4

+6.3%

+6.8% 526.0 540.3

+2.7%

+5.1%

Order Backlog 253.1 293.9 +16.1% 253.1 293.9 +16.1%

Operating EBITDA 17.1 23.6 +38.2% 43.5 55.9 28.6%

Operating EBITDA-

Margin 9.3% 12.0% +278 bps 8.3% 10.3% +208 bps

Operating EBIT 14.7 21.1 +43.6% 36.4 48.4 +33.2%


ROCE (LTM)1 22.1% 26.2% +417 bps 22.1% 26.2% +417 bps

GEA Refrigeration Technologies

LTM per

Q3 2014:

EUR 751m

+3% YoY

LTM per

Q3 2014:

EUR 751m

+3% YoY

Sales by Region

-29%

+28%

+4%

+8%

Δ YoY

+11% -1%

+3% +9% +1% +7%

Δ YoY +21%

-14%


Development Q3 2014

122 120 128 145 126 135 140 139 146 142 140 134 139 146 134 155 149

17 27 19 17

20 35 29 22

44 50 22 35 35 40 46

42 40 10

5 6 19

8 20

10 6

12

6 13 7 6

16

0

50

100

150

200

250

Q310

Q410

Q111

Q211

Q311

Q411

Q112

Q212

Q312

Q412

Q113

Q213

Q313

Q413

Q114

Q214

Q314


4.4%

7.1% 8.0% 8.1%

9.8%

0%

2%

4%

6%

8%

10%

0

200

400

600

800

1000

Q310

Q410

Q111

Q211

Q311

Q411

Q112

Q212

Q312

Q412

Q113

Q213

Q313

Q413

Q114

Q214

Q314







Q3 2014 vs.

Q3 2013

Q1-Q3 2014 vs.

Q1-Q3 2013

Q3 2014 vs.

Q2 2014

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

Order Intake

previous period 1,168 3,483 1,170

Structural Change 0 0 % 0 0 % 0 0 %

Currency Effects +10 +0.9 % -65 -1.9 % +16 +1.4 %

Organic Development -11 -0.9 % -56 -1.6 % -18 -1.6 %

Order Intake

current period 1,168 0 % 3,362 -3.5 % 1,168 -0.2 %

Order Intake Q3 2014

[EURm]



Q3 2014 vs.

Q3 2013

Q1-Q3 2014 vs.

Q1-Q3 2013

Q3 2014 vs.

Q2 2014


Sales

previous period 1,089 3,078 1,118


Currency Effects 0 0 % -60 -1.9 % +14 +1.3 %

Organic Development +57 +5.2 % +196 +6.4 % +14 +1.3 %

Sales

current period 1,146 +5.2 % 3,214 +4.4 % 1,146 +2.5 %

Sales Q3 2014

[EURm]



Q3 2014 vs.

Q3 2013

Q1-Q3 2014 vs.

Q1-Q3 2013

Q3 2014 vs.

Q2 2014


Operating EBITDA

previous period 134 324 128


Currency Effects -1 -0.6 % -6 -1.9 % +2 +1.3 %

Organic Development +16 +12.2 % +44 +13.6 % +19 +15.1 %

Operating EBITDA

current period 149 +11.6 % 362 +11.7 % 149 +16.4 %

Operating EBITDA Q3 2014

[EURm]



140

149150

134

Organic Q3 2013 Operating

EBITDA

One-Offs Q3 2014

Reported EBITDA

Q3 2014

Operating EBITDA

FX Q3 2014 Operating

EBITDA before FX

+16 -1 -9

+12.2%

-0.6% -6.8%

GEA’s reported EBITDA negatively impacted by FX and One-Offs

EBITDA bridge Q3 2014 [EURm]



FX Development Q3 2014 YoY

Currency % total Q3

3rd party sales

FX development

Q3 14 vs Q3 13 (average)

USD 16 % -2.8 %

DKK 5 % 0.0 %

CNY 5 % -2.8 %

GBP 5 % +5.0 %

NZD 4 % +0.8 %

SGD 3 % -3.2 %

BRL 2 % -10.0 %

PLN 2 % +0.6 %

AUD 2 % -8.7 %

CAD 2 % -9.0 %



[EURm]

Working Capital Development

622

551

641

944

929

939

535

647

537

492

470

495

538

363

548

Trade

Receivables Inventories

Trade

Payables

Advance

Payments

Working

Capital

Q4 2013

Q3 2014

+10

+1%

+90

+16%

-110

-17%

+24

+5%

+185

+51%

Q3 2013

-15

-2%

-71

-11%

+111

+21%

-22

-4%

-175

-32%

=

=

=



Key Figures Time Line (1/6)

Order Intake

[in EUR million]Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010

GEA Food Solutions1) 95,1 116,4 100,5 85,7 397,7 75,6 101,2 81,6 95,5 353,9 115,5 94,5 100,7 98,9 409,6

GEA Farm Technologies 123,5 120,5 137,0 116,0 497,1 94,9 101,2 94,9 98,6 389,6 101,1 116,1 115,0 116,3 448,5

GEA Mechanical Equipment2) 257,4 258,0 237,0 177,0 929,4 194,9 162,2 158,6 169,4 685,1 172,0 194,7 191,9 181,8 740,4

GEA Process Engineering 367,3 355,4 346,4 264,4 1.333,6 251,0 308,7 254,0 334,6 1.148,3 335,7 339,0 321,7 419,7 1.416,1

GEA Refrigeration Technologies 174,1 152,3 144,2 143,3 613,9 138,9 143,2 114,3 130,3 526,6 127,5 150,6 148,9 152,5 579,6

GEA Group excluding HX 899,2 863,9 842,9 687,1 3.293,0 664,4 703,0 605,0 715,6 2.688,1 713,4 777,3 755,3 854,4 3.100,3

GEA Heat Exchangers 485,0 416,4 389,1 431,4 1.721,9 413,6 338,9 365,0 301,3 1.418,7 304,4 398,3 404,1 399,2 1.506,0

GEA Group incl. HX 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 1.010,2 1.167,3 1.152,6 1.247,8 4.578,0

Order Backlog


GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.



GEA Process Engineering 850,7 830,9 826,6 666,2 666,2 651,5 658,2 627,9 660,2 660,2 757,6 821,2 788,9 813,0 813,0


GEA Group excluding HX 1.483,5 1.520,3 1.539,2 1.283,6 1.283,6 1.276,0 1.274,4 1.175,8 1.161,1 1.161,1 1.301,8 1.417,0 1.362,1 1.333,5 1.333,5

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 1.006,7 1.061,1 1.071,3 1.086,9 1.086,9

GEA Group incl. HX 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 2.301,1 2.468,5 2.423,7 2.414,0 2.414,0

Sales


GEA Food Solutions1) 91,8 99,1 98,5 104,8 394,2 89,0 79,8 82,8 82,5 334,1 101,0 99,8 93,1 103,7 397,6



GEA Process Engineering 328,2 395,8 364,5 398,9 1.487,4 270,7 281,9 278,1 313,2 1.144,0 256,9 298,5 330,9 402,2 1.288,5


GEA Group excluding HX 735,9 856,2 844,4 916,2 3.352,7 674,5 688,4 695,0 756,1 2.814,0 603,2 700,7 769,7 889,5 2.963,1

GEA Heat Exchangers 398,7 449,8 481,7 529,0 1.859,2 387,0 421,2 372,0 443,1 1.623,4 340,9 370,8 361,6 410,1 1.483,4

GEA Group incl. HX 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 4.411,2 938,2 1.065,1 1.124,7 1.290,4 4.418,4

Operating EBITDA

[in EUR million] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010

GEA Food Solutions1) -4,5 7,0 9,4 7,6 19,4 -2,9 4,9 7,0 6,4 15,5 13,5 10,3 5,5 6,8 36,2





GEA Group excluding HX 51,9 82,7 87,8 120,7 343,0 42,7 57,3 66,2 82,6 248,7 44,9 63,7 79,8 122,3 310,6

GEA Heat Exchangers 42,6 55,7 65,2 79,8 243,2 36,1 38,2 45,5 58,6 178,4 33,2 34,2 38,3 47,0 152,7

GEA Group incl. HX 94,5 138,6 152,7 200,1 585,9 78,8 95,4 111,7 147,2 433,1 78,1 97,9 118,1 169,5 463,5

Operating EBITDA - Margin

[in %] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010

GEA Food Solutions1) -4,9% 7,1% 9,5% 7,2% 4,9% -3,2% 6,2% 8,4% 7,8% 4,6% 13,4% 10,3% 5,9% 6,6% 9,1%

GEA Farm Technologies 6,3% 11,0% 15,4% 14,6% 12,4% 0,9% 8,2% 9,6% 8,2% 7,1% 4,4% 5,7% 9,9% 12,0% 8,5%

GEA Mechanical Equipment2) 15,3% 17,3% 15,5% 20,6% 17,2% 13,4% 12,9% 17,3% 21,3% 16,1% 15,8% 15,5% 19,5% 23,3% 18,8%

GEA Process Engineering 3,7% 6,6% 7,7% 11,8% 7,6% 4,1% 6,2% 7,5% 12,3% 7,7% 5,7% 6,9% 7,0% 12,0% 8,3%

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

GEA Group excluding HX 7,0% 9,7% 10,4% 13,2% 10,2% 6,3% 8,3% 9,5% 10,9% 8,8% 7,4% 9,1% 10,4% 13,7% 10,5%

GEA Heat Exchangers 10,7% 12,4% 13,5% 15,1% 13,1% 9,3% 9,1% 12,2% 13,2% 11,0% 9,7% 9,2% 10,6% 11,5% 10,3%

GEA Group incl. HX 8,4% 10,7% 11,6% 13,9% 11,3% 7,5% 8,6% 10,5% 12,4% 9,8% 8,3% 9,2% 10,5% 13,1% 10,5%




Order Intake

[in EUR million]Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14

GEA Food Solutions1) 125,5 - - - - - - - - - - - - - - - - -

GEA Farm Technologies 125,9 129,5 140,3 131,7 527,4 148,1 145,7 147,4 142,6 583,9 138,8 155,7 150,7 151,6 596,7 161,6 169,7 166,4

GEA Mechanical Equipment2) 219,2 332,5 329,5 323,6 1.204,7 336,2 329,0 327,1 355,6 1.347,9 329,7 346,4 357,7 334,4 1.368,2 339,1 329,1 328,7

GEA Process Engineering 401,5 426,2 433,3 449,0 1.709,9 511,3 401,2 468,5 469,2 1.850,2 481,3 570,0 515,2 494,6 2.061,0 366,7 500,9 506,4

GEA Refrigeration Technologies 152,7 162,8 164,8 170,1 650,4 177,9 180,4 200,1 197,8 756,2 177,9 181,2 174,9 192,3 726,3 192,9 204,1 195,0

GEA Group excluding HX 874,3 1.024,8 1.040,6 1.047,0 3.986,7 1.146,0 1.028,6 1.111,6 1.139,2 4.425,4 1.095,1 1.220,0 1.168,3 1.144,4 4.627,9 1.024,3 1.169,9 1.167,9

GEA Heat Exchangers 375,5 445,6 369,8 462,3 1.653,2 406,1 379,0 375,1 349,7 1.509,8 361,9 363,5 348,1 426,8 1.500,3 399,7 350,0 290,2

GEA Group incl. HX 1.242,1 1.462,5 1.402,8 1.502,2 5.609,7 1.544,9 1.401,0 1.477,3 1.477,9 5.901,1 1.447,1 1.574,0 1.509,2 1.562,5 6.092,7 1.415,1 1.510,0 1.449,9

Order Backlog




GEA Mechanical Equipment2) 304,1 431,2 445,9 395,2 395,2 446,5 452,9 442,5 438,4 438,4 442,6 446,5 456,8 428,4 428,4 456,3 437,5 421,7

GEA Process Engineering 888,2 927,4 972,2 951,2 951,2 1.082,3 1.104,5 1.142,5 1.069,6 1.069,6 1.164,2 1.269,5 1.334,9 1.290,5 1.290,5 1.267,9 1.304,7 1.370,5


GEA Group excluding HX 1.581,2 1.643,7 1.700,9 1.599,2 1.599,2 1.841,1 1.900,9 1.932,4 1.829,9 1.829,9 1.982,6 2.085,3 2.136,2 2.015,5 2.015,5 2.086,7 2.137,2 2.185,4

GEA Heat Exchangers 1.092,5 1.135,4 1.063,5 1.086,0 1.086,0 1.103,2 1.074,1 1.045,5 933,3 933,3 979,3 846,5 799,5 805,1 805,1 878,8 874,8 815,7

GEA Group incl. HX 2.666,6 2.770,6 2.755,7 2.677,3 2.677,3 2.935,6 2.967,4 2.967,8 2.751,6 2.751,6 2.950,0 2.919,1 2.926,5 2.810,9 2.810,9 2.956,6 2.999,5 2.989,3

Sales




GEA Mechanical Equipment2) 191,6 311,1 317,0 371,0 1.190,7 269,3 319,2 328,6 349,2 1.266,4 298,1 334,0 336,3 359,3 1.327,8 310,0 340,4 349,2

GEA Process Engineering 300,8 385,1 394,7 496,6 1.577,2 373,2 401,2 423,6 518,3 1.716,3 394,3 435,6 441,3 526,7 1.798,0 390,7 469,1 453,8


GEA Group excluding HX 706,7 964,6 980,5 1.176,4 3.828,3 880,5 994,1 1.060,5 1.207,2 4.142,3 924,2 1.064,6 1.089,1 1.242,2 4.320,0 950,7 1.117,7 1.146,0

GEA Heat Exchangers 338,1 390,9 424,2 463,6 1.616,8 389,7 404,3 392,1 422,7 1.608,8 318,1 385,9 380,8 404,2 1.489,1 311,4 355,7 377,5

GEA Group incl. HX 1.038,0 1.349,0 1.397,4 1.632,2 5.416,5 1.263,7 1.391,3 1.445,6 1.619,6 5.720,1 1.232,7 1.441,9 1.459,5 1.638,1 5.772,2 1.253,1 1.466,4 1.514,3

Operating EBITDA

[in EUR million] Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14




GEA Process Engineering 20,0 31,2 38,6 73,4 163,2 20,1 39,4 43,0 75,9 178,4 29,4 45,0 46,3 82,5 203,2 30,2 48,8 49,4


GEA Group excluding HX 62,4 100,3 119,8 187,0 469,6 68,0 110,7 132,3 183,5 494,4 72,4 118,4 133,5 205,7 530,1 85,1 128,0 149,0

GEA Heat Exchangers 29,5 35,3 46,9 48,7 160,4 32,6 35,9 37,5 61,5 167,5 26,1 37,6 38,6 55,9 158,2 25,8 32,7 43,7

GEA Group incl. HX 91,9 135,7 166,7 235,7 630,1 100,6 146,6 169,8 245,0 661,9 98,5 156,0 172,1 261,6 688,3 110,6 160,3 192,7

Operating EBITDA - Margin

[in %] Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14

GEA Food Solutions1) 5,5% - - - - - - - - - - - - - - - - -

GEA Farm Technologies 5,0% 7,1% 10,8% 10,9% 8,9% 4,2% 8,5% 11,3% 14,2% 10,1% 2,8% 6,4% 11,2% 15,8% 9,9% 4,8% 8,5% 12,7%

GEA Mechanical Equipment2) 17,1% 16,4% 16,2% 18,8% 17,2% 12,2% 14,9% 16,7% 18,3% 15,7% 12,9% 14,5% 16,9% 19,8% 16,2% 13,6% 14,2% 15,9%

GEA Process Engineering 6,6% 8,1% 9,8% 14,8% 10,3% 5,4% 9,8% 10,1% 14,6% 10,4% 7,5% 10,3% 10,5% 15,7% 11,3% 7,7% 10,4% 10,9%

GEA Refrigeration Technologies 6,7% 8,7% 8,5% 12,4% 9,3% 7,3% 8,1% 9,0% 12,2% 9,4% 6,3% 8,9% 9,3% 13,1% 9,6% 8,0% 10,5% 12,0%

GEA Group excluding HX 8,8% 10,4% 12,2% 15,9% 12,3% 7,7% 11,1% 12,5% 15,2% 11,9% 7,8% 11,1% 12,3% 16,6% 12,3% 9,0% 11,5% 13,0%

GEA Heat Exchangers 8,7% 9,0% 11,1% 10,5% 9,9% 8,4% 8,9% 9,6% 14,5% 10,4% 8,2% 9,7% 10,1% 13,8% 10,6% 8,3% 9,2% 11,6%

GEA Group incl. HX 8,9% 10,1% 11,9% 14,4% 11,6% 8,0% 10,5% 11,7% 15,1% 11,6% 8,0% 10,8% 11,8% 16,0% 11,9% 8,8% 10,9% 12,7%




EBITDA reported









GEA Group incl. HX 94,5 138,6 152,7 200,1 585,9 76,7 82,3 87,9 121,8 368,7 76,8 83,3 86,7 118,9 365,7

Operating EBIT



GEA Farm Technologies 4,3 11,9 19,5 19,5 55,2 -1,3 6,0 8,6 7,0 20,3 1,0 3,1 8,8 13,4 26,3






GEA Group incl. HX 77,1 120,6 133,6 179,1 510,4 57,9 73,3 89,4 121,4 341,9 54,4 73,6 94,5 144,3 366,8

Operating EBIT - Margin

[in %] Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010

GEA Food Solutions1) -9,4% 3,4% 6,2% 4,2% 1,3% -9,2% 1,9% 4,5% 4,1% 0,1% 9,4% 7,0% 1,7% 3,0% 5,3%

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

GEA Mechanical Equipment2) 13,8% 15,7% 14,0% 18,8% 15,6% 11,6% 10,8% 15,1% 18,8% 14,0% 13,3% 13,1% 17,4% 19,7% 16,1%

GEA Process Engineering 2,9% 5,9% 6,9% 10,9% 6,8% 3,0% 5,0% 6,5% 11,3% 6,6% 4,5% 5,8% 6,0% 11,1% 7,2%

GEA Refrigeration Technologies 4,5% 6,3% 6,9% 8,7% 6,8% 2,0% 4,8% 2,1% 5,6% 3,7% 1,6% 4,6% 5,3% 8,1% 5,2%

GEA Group excluding HX 5,5% 8,3% 8,9% 11,7% 8,8% 4,4% 6,3% 7,5% 8,8% 6,8% 5,0% 6,9% 8,5% 11,7% 8,4%

GEA Heat Exchangers 9,2% 11,0% 12,1% 13,7% 11,7% 7,4% 7,1% 9,9% 11,1% 8,9% 7,2% 6,8% 8,1% 9,8% 8,0%

GEA Group incl. HX 6,8% 9,3% 10,1% 12,5% 9,9% 5,5% 6,6% 8,4% 10,2% 7,8% 5,8% 6,9% 8,4% 11,2% 8,3%

EBIT reported



GEA Farm Technologies 4,1 11,6 18,8 18,8 53,4 -1,6 3,6 7,4 3,1 12,4 0,5 2,2 8,1 9,2 20,0





GEA Heat Exchangers 36,4 49,1 58,1 71,8 215,4 27,2 21,8 26,0 48,8 123,8 22,8 13,4 8,9 -15,2 29,9

GEA Group incl. HX 76,1 119,3 131,8 177,1 504,2 53,8 58,1 63,5 92,8 268,2 51,0 56,4 60,8 68,2 236,5




EBITDA reported




GEA Mechanical Equipment2) 32,7 31,4 52,1 69,9 186,1 -3,0 43,5 48,3 46,1 134,9 38,6 48,3 56,8 71,0 214,7 42,1 48,4 53,6





GEA Group incl. HX 91,9 116,0 167,4 234,9 610,2 64,7 142,4 162,9 226,9 597,0 98,1 152,4 168,9 240,5 659,8 106,7 151,5 180,0

Operating EBIT









GEA Group incl. HX 69,0 109,7 139,8 206,1 524,6 74,7 122,5 146,7 216,8 560,8 73,2 129,9 145,6 233,3 582,1 84,1 133,3 165,3

Operating EBIT - Margin

[in %] Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14

GEA Food Solutions1) 2,5% - - - - - - - - - - - - - - - - -







GEA Group incl. HX 6,6% 8,1% 10,0% 12,6% 9,7% 5,9% 8,8% 10,1% 13,4% 9,8% 5,9% 9,0% 10,0% 14,2% 10,1% 6,7% 9,1% 10,9%

EBIT reported



GEA Farm Technologies 1,5 5,0 11,4 13,2 31,1 1,2 7,5 13,9 20,3 42,9 -0,9 4,8 13,7 23,7 41,2 2,3 9,3 16,0

GEA Mechanical Equipment2) 28,4 17,6 38,9 60,3 145,2 -12,8 34,5 38,5 21,8 82,1 28,7 38,1 46,1 58,8 171,7 30,5 37,0 41,9





GEA Group incl. HX 66,8 79,3 131,3 197,2 474,6 32,6 111,7 133,1 176,5 453,9 66,2 119,7 135,8 203,2 525,0 73,6 118,2 123,8




Capital Employed w/o goodwill3) (average LTM)



GEA Farm Technologies n.a. n.a. n.a. 204,0 204,0 219,7 235,5 241,7 241,4 241,4 250,5 260,9 271,3 284,0 284,0

GEA Mechanical Equipment2) n.a. n.a. n.a. 349,8 349,8 364,3 371,3 374,2 367,7 367,7 346,5 327,9 309,9 300,7 300,7

GEA Process Engineering n.a. n.a. n.a. 270,6 270,6 274,2 276,2 269,7 255,1 255,1 241,1 235,7 237,8 238,9 238,9

GEA Refrigeration Technologies n.a. n.a. n.a. 221,1 221,1 236,8 249,9 258,6 258,7 258,7 244,9 226,6 202,4 177,9 177,9

GEA Group excluding HX n.a. n.a. n.a. 1.063,4 1.063,4 1.097,4 1.117,9 1.113,4 1.094,3 1.094,3 1.078,4 1.071,0 1.066,0 1.069,5 1.069,5

GEA Heat Exchangers n.a. n.a. n.a. 707,3 707,3 757,2 789,7 793,4 752,0 752,0 711,8 687,1 677,7 672,8 672,8

GEA Group incl. HX 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 1.780,9 1.750,3 1.738,4 1.739,9 1.739,9

ROCE w/o goodwill4) LTM

[in%]Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010


GEA Farm Technologies n.a. n.a. n.a. 26,2% 26,2% 21,7% 16,8% 11,6% 5,1% 5,1% 5,8% 5,0% 5,1% 7,1% 7,1%

GEA Mechanical Equipment2) n.a. n.a. n.a. 35,9% 35,9% 33,4% 29,9% 27,9% 23,8% 23,8% 24,5% 26,5% 28,7% 34,5% 34,5%

GEA Process Engineering n.a. n.a. n.a. 37,0% 37,0% 35,7% 30,8% 25,2% 20,5% 20,5% 23,5% 26,4% 31,0% 37,7% 37,7%

GEA Refrigeration Technologies n.a. n.a. n.a. 18,4% 18,4% 15,5% 13,1% 9,5% 5,1% 5,1% 5,3% 5,5% 7,8% 6,9% 6,9%

GEA Group excluding HX n.a. n.a. n.a. 26,4% 26,4% 24,3% 20,8% 17,4% 11,3% 11,3% 12,1% 12,8% 14,4% 18,9% 18,9%

GEA Heat Exchangers n.a. n.a. n.a. 30,5% 30,5% 27,2% 22,7% 18,5% 16,5% 16,5% 16,8% 16,2% 13,8% 4,4% 4,4%

GEA Group incl. HX n.a. n.a. n.a. 28,4% 28,4% 26,0% 22,1% 18,6% 14,6% 14,6% 14,9% 15,1% 15,0% 13,6% 13,6%

Capital Employed w/o goodwill3) (average LTM)


GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. - - - - - - - - - - - - -


GEA Mechanical Equipment2) 303,6 481,6 625,8 770,7 770,7 874,7 903,6 929,1 949,5 949,5 966,9 972,6 977,2 985,9 985,9 999,0 1.012,7 1.023,2



GEA Group excluding HX 1.117,9 1.266,4 1.436,7 1.619,6 1.619,6 1.771,9 1.830,3 1.872,7 1.887,4 1.887,4 1.890,1 1.890,6 1.886,5 1.895,0 1.895,0 1.900,4 1.912,0 1.929,0


GEA Group incl. HX 1.796,3 1.949,7 2.128,3 2.314,2 2.314,2 2.462,7 2.518,1 2.548,2 2.556,5 2.556,5 2.546,1 2.534,0 2.523,5 2.525,5 2.525,5 2.536,5 2.553,6 2.576,1

ROCE w/o goodwill4) LTM

[in%]Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14

GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. - - - - - - - - - - - - -







GEA Group incl. HX 14,0% 14,1% 16,2% 20,5% 20,5% 17,9% 18,8% 18,6% 17,8% 17,8% 19,2% 19,6% 19,7% 20,8% 20,8% 21,0% 20,8% 20,1%



Key Figures Time Line (6/6): Remarks

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) Since Q2 2011 GEA ME figures includes GEA FS

3) Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999.

4) ROCE LTM = EBIT reported (LTM) / Capital employed excluding goodwill from the acquisition of the former GEA AG by the

former Metallgesellschaft AG in 1999 (average LTM).



ADR Information

GEA Group has a sponsored level I ADR program

Ratio: 1 ADR = 1 Ordinary share

Bloomberg ticker: GEAGY:US

CUSIP: 361592108

ISIN: US3615921083

Depositary bank: Deutsche Bank Trust Company Americas

Depositary bank contacts: ADR broker helpline

Tel: +1 212 250 9100 (New York)

Tel: +44 207 547 6500 (London)

Email: [email protected] and website: www.adr.db.com

Depositary bank’s local custodian: Deutsche Bank Frankfurt


mailto:[email protected]


Investor Relations Contact

Donat von Müller

+49 211 9136 1080

donat.vonmueller

@gea.com

Dr. Helmut Schmale

CFO

+49 211 9136 1082

[email protected]

Axel Wolferts

+49 211 9136 1490

axel.wolferts

@gea.com

Rebecca Grabotin

+49 211 9136 1081

rebecca.grabotin

@gea.com


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