Q3 2011 Commerzbank German Investment Seminar 2012 · German Investment Seminar ... 331 395 193192...

GEA Group

New York, January 9-11, 2012

Q3 2011 Commerzbank German Investment Seminar 2012

engineering for a better world

Disclaimer

2

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.

German Investment Seminar – New York - Q3 2011 – Jan 9-11, 2012


ADR Information

3 German Investment Seminar – New York - Q3 2011 – Jan 9-11, 2012

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]


The GEA Group in summary


The GEA Group is one of the largest providers for equipment and process

technology particularly for the food and energy industries where it ranks

among the market and technology leaders.

The GEA Group focuses on demanding production processes and supplies

its customers with efficient solutions in various end markets.

In 2010 the GEA Group employed some 20,000 people who generated

revenue of about EUR 4.4 billion.


GEA provides the world with innovative solutions for smart food processing

and for a more efficient use of energy resources.

GEA is a global engineering group recognized for its excellent technologies,

its dedication to provide best solutions to its customers, and its

management principles.

GEA Vision



Growth drivers – food and energy


Growing interest in

efficient production

processes that

conserve resources

Resource-conserving

technologies/dry cooling

Energy-saving machines and

processes/heat recovery

“Intelligent” engineering

solutions

Steady growth in global

population

Continuously rising

demand for food and

energy

Megatrend Significance for demand Demand relevant for GEA

Volume growth and catch-up

potential especially in South and

East Asia, Latin America and, in

future, Africa

Urbanization/expansion of

middle class

Growing quality

requirements for

foodstuffs and

pharmaceuticals

Processed foods/ready meals

Aseptic filling/enriched lifestyle drinks

Pharmaceuticals

Rising energy costs/

environmental regulations


Finned, Shell & Tube

Cooling Towers

Plate Heat Exchangers

HVAC Systems

Bowl Choppers

Spiral Cookers

Slicers

Thermoformers

Group structure


Compressors

Packages and Skids

Ice Machines

Freezers

Separators

Decanters

Homogenizers

Valves

Milking & Cooling

Farm Services

Farm Equipment

GEA Farm

Technologies

GEA Heat

Exchangers

GEA Mechanical

Equipment GEA Process

Engineering

GEA Refrigeration

Technologies

Spray Drying

Aseptic Filling

Brewery & Dairy

Systems

Pharma Systems

GEA Convenience-

Food Technologies

http://www.westfalia.com/hq/en/products_services/proformance_equipment/products/milking_equipment/milking_components/default.aspx

http://www.westfalia.com/hq/en/products_services/promilk_Hygiene_consumables/products/hygiene/udder_hygiene/noniodinedip.aspx

http://www.westfalia.com/hq/de/products_services/milking_cooling/farm_management/herd_management_software/default.aspx


Examples of application

GEA Convenience-Food Technologies*


Secondary food processing and packaging

machinery

Machines for the preparation, marination,

processing, slicing and packaging of food

Seafood

Vegetables

Ready

Meals

Sausage /

Ham

Poultry

Meat

Preparation,

Marination and

Processing

Sausage /

Ham

Meat /

Poultry

Ready

Meals

Seafood

Cheese

Salad /

Vegetables

Slicing and

Packaging

2010**

Revenue EUR 406.5 million

Employees *** 2,093 * new segment of the GEA Group since Q2 2011

** last financial year 03/01/2010 – 02/28/2011

*** as of 02/28/2011



GEA Farm Technologies


Milk

Milking equipment, milk cooling technology,

automatic feeding systems, animal hygiene,

milking parlor cleaning and accessories, barn

equipment, slurry technology and farm services

Herd

Management

Systems

Milking

Equipment

Manure

Handling

Milk

Cooling

Systems

Hygiene

Barn

Equipment

All the cows needs

Yoghurt

Milk

Cheese

Ice Cream

Chocolate

Baby Food

Anything made

from milk

2010


Employees * 2,004

EBIT** EUR 21.9 million

EBIT margin** 4.9 % * as of 12/31/2010 / ** before restructuring

http://www.westfalia.com/hq/de/products_services/milking_cooling/parlour_milking/herringbone_parlours/default.aspx



GEA Heat Exchangers


Heat exchangers

Finned tube heat exchangers, shell-and-tube

heat exchangers, plate heat exchangers, wet

and dry cooling systems, air conditioning and air

handling systems

Energy

Food

Milk

Sugar Paper

Buildings

GEA Plate Heat

Exchangers

Energy

Chemicals

Heavy

Industry Petro-

chemistry

Buildings

Synthetic

Materials

GEA Cooling

Towers

2010

Revenue EUR 1,483.4 million

Employees * 7,340





GEA Mechanical Equipment


Special components

Separators, decanters, membrane filters,

homogenizers, pumps and valves

Milk

Edible Oil Beverages

Energy

Waste Water

Treatment

Chemicals

Yoghurt

Edible Oil

Beverages

Milk

Semi-fluid

Foodstuff

Beer

GEA Separators GEA Valves

2010


Employees * 3,386





Milk based

Drinks

Juices

Icetea

Soft

Drinks

Nectars

GEA Process Engineering


Process technology

Design and installation of process lines for food

and beverages, chemicals, pharmaceuticals,

and cosmetics, as well as gas cleaning plants

Milk Powder

Convenience

Food

Fruit

Powder

Instant

Coffee

Pharma

Hard Metal

GEA Spray Dryer GEA Aseptic

Fillers

Isotonic

Beverages

2010

Revenue EUR 1,288.5 million

Employees* 4,563



http://images.google.de/imgres?imgurl=http://www.loeper-lieferts.de/assets/images/Powerdrinks.jpg&imgrefurl=http://www.loeper-lieferts.de/html/afg.html&usg=__aJcDDlCcjb99o3icz3Ys54ynvgk=&h=110&w=84&sz=5&hl=de&start=10&tbnid=n36Xnq8HJuuADM:&tbnh=85&tbnw=65&prev=/images?q=isotonische+getr%C3%A4nke&gbv=2&hl=de



GEA Refrigeration Technologies


Freezing and refrigeration technology

Reciprocating and screw compressors, freezing

systems, chillers etc., as well as development,

design, and maintenance of industrial

refrigeration technology facilities

Skating

Rinks

Fish

Juices

Energy

Mobile Air-

Conditioning

Cold Chains

GEA Compressors GEA Freezing

Tunnel

Poultry

Meat

Prepared

Foods

Bakery

Goods

Fruits /

Vegetables

Sea Food

2010


Employees* 2,828




Examples of technology


Main market: food

GEA

Freezing Tunnels

GEA Milk

Production

GEA Spray

Dryers

GEA

Separators

GEA Plate Heat

Exchangers

GEA

Valves

GEA Spiral

Cookers

heat

cool/freeze

separate

dry / dewater

distill

pump

dose

agglomerate

package

Foodstuff

prepare

marinate

process

slice

http://www.westfalia.com/hq/en/products_services/proformance_equipment/products/milking_equipment/milking_components/default.aspx


Examples of technology


Main market: energy

Energy

GEA Air-Cooled

Condensers

GEA Cooling

Towers

GEA

Separators

GEA Plate Heat

Exchangers

GEA

Transformer

Coolers

GEA

Air Coolers

GEA

Compressor

Skids

heat

cool

condense

separate

dry / dewater


Agenda

16

January – September 2011

I. Key Figures

II. Performance

Backup

Performance GEA Group and Segments


III. Outlook


55 68

74 109

95

139

2010 2011

Q3

Q2

Q178 91

98 135

118

166

2010 2011

Q3

Q2

Q1

938 1,038

1,065 1,349

1,125

1,397

2010 2011

Q3

Q2

Q1

17

1,010 1,242

1,167 1,463

1,153

1,403

2010 2011

Q3

Q2

Q1

Order Intake +23%

4,107

3,330

Sales +21%

3,784

3,128

EBIT before PPA**

+42%

316

223

EBITDA before PPA*

+33%

392

294

I. Key Figures GEA Group Q1-Q3 2011 YoY

-4% qoq

+23%

+25%

+17%

+37%

+25%

+48%

+11%

+27%

[in EUR million]

* 2010: before restructuring expenses; Q1-Q3 2010: EUR 47.2m / ** 2010: before restructuring expenses; Q1-Q3 2010: EUR 47.8m


+22% +24%

+41% +47%

+4% qoq

+23% qoq +28% qoq

( w/o CT: +17%) ( w/o CT: +14%)

( w/o CT: +28%) ( w/o CT: +38%)


140 166

331 395

193 205

362

424 120

138 112

Q3 2010 Q3 2011

CT

FT

HX

ME

PE

RT

7 12 20

35

34

39 29

38 8

12

6

Q3 2010 Q3 2011

CT

FT

HX

ME

PE

RT

18

149 165

322 433

192

222

404

370 115

140 108

Q3 2010 Q3 2011

CT

FT

HX

ME

PE

RT

Order Intake +22%

1,403

1,153

Sales +24%

1,397

1,125

EBIT before PPA*

+47%

139

95

I. Key Figures Segments Q3 2011 YoY

+16%

-9%

+35%

+11%

+6%

+17%

+19%

+19%

+17%

+38%

+30%

Some Highlights in Q3 2011:

Order Intake:

GEA PE: +35% yoy, highest quarterly order

intake since beginning of 2008

EBIT before PPA*:

GEA FT: EBIT-Margin increase of +135 bps

leading to 8.3% EBIT-Margin

GEA ME: Strong EBIT-Margin of 19.1%

GEA PE: Strong EBIT-Margin improvement of

+275 bps leading to 8.7% EBIT-Margin

[in EUR million]

* Q3 2010: before restructuring expenses of EUR 31.5m

+22% +15%

+74%

+62%


( w/o CT: +12%) ( w/o CT: +14%)

( w/o CT: +41%)


II. Performance Order Intake Q3 2011

19

∆ abs. ∆ in

%

∆ abs. ∆ in

%

Q3 2011 vs.

Q3 2010

Q1-Q3 2011 vs.

Q1-Q3 2010

Q3 2011 vs.

Q2 2011

Order Intake

previous period 1,153 3,330 1,463

Structural

Change +154 +13.4% +290 +8.7% 0 0.0%

Currency Effects -35 -3.1% -49 -1.5% +6 +0.4%

Organic

Development +132 +11.4% +536 +16.1% -66 -4.5%

Order Intake

current period 1,403 +21.7% 4,107 +23.3% 1,403 -4.1%

∆ abs. ∆ in %

∆ abs. ∆ in %

∆ abs. ∆ in %

[in EUR million]



0 100 200 300 400 500

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

20

II. Performance Regional Order Intake Trend per Q3 2011

0 500 1000 1500

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

GEA Group

0 100 200 300 400 500

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

0 100 200 300 400 500

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

0 100 200 300 400 500

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

0 100 200 300 400 500

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

0 100 200 300 400 500

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

0 100 200 300 400 500

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

[in EUR million]


Eastern Europe & CIS

∆ QoQ: +43%

w/o CT: +48%

Latin America Asia Pacific

Western Europe North America

Middle East

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

Africa

∆ QoQ: +1%

w/o CT: 0%

∆ QoQ: +5%

w/o CT: +1%

∆ QoQ: -26%

w/o CT: -26%

∆ QoQ: -17%

w/o CT: -15%

∆ QoQ: -9%

w/o CT: -12%

∆ QoQ: -44%

w/o CT: -41%

∆ QoQ: -4%

w/o CT: -5%

∆ YoY: +16%

w/o CT: +10%

∆ YoY: -25%

w/o CT: -28%

∆ YoY: +30%

w/o CT: +16%

∆ YoY: +20%

w/o CT: +9%

∆ YoY: +65%

w/o CT: +55%

∆ YoY: +21%

w/o CT: +13%

∆ YoY: -5%

w/o CT: -10%

∆ YoY: +22%

w/o CT: +12%


48%

12%

31%

2% 1%

2% 5%

Africa

26%

19%

35%

4%

3%

10% 2%

Middle East

61%

19%

9%

2% 3%

2% 4%

Latin America

50%

7% 10%

7%

10%

7%

4% 6%

Asia Pacific

53%

7% 4%

3%

3% 2%

24%

5%

Eastern Europe & CIS

44%

3% 9% 5%

5%

4%

24%

5%

Western Europe

21

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

57%

6%

9%

6%

11%

1% 6% 4%

North America

13% 9% 36%

8% 24%

4% 6%

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

Climate &

Environment;

12%

Other

Industries;

5%

Chemicals; 6%

Pharma; 5%

Power;

11%

Oil & Gas; 7%

Food &

Beverage;

51%

Marine; 3%


100%

+ Δ OI yoy >= €50m

- Δ OI yoy <= €-50m

-

+ +

+

+


869

748 738 704 662 673 739 777 767

812 877 905

991 954

177

140 165 123

140 156

203 210 185

220

211 214

231 228

141

134 110

128

59 105

52

88 95

69

82

178

178 161 37

91 60

80

101

76

16

93 106

146 72

63

63

60

0

200

400

600

800

1.000

1.200

1.400

1.600

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

Q2 11(incl.CT)

Q3 11(incl.CT)

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

II. Performance Large Order Development since Q3 2008

22

[in EUR million]


1,600

1,400

1,200

1,000


39% (41%)

22% (21%)

13% (14%)

9% (9%)

7% (6%)

5% (5%)

5% (4%)

Emerging markets*

exposure: 34% (33%) abs.: +25% YoY

(average of Dow Jones and MSCI

definition*)

Sales

Q1-Q3 2011:

EUR 3,784m +21% YoY

II. Performance Regional Sales Split Q1-Q3 2011 (Q1-Q3 2010)

23

Germany

12% (13%)

abs.: +13% YoY

USA

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

China

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

Top 3 Countries

Western Europe abs.: +12% YoY

Asia-Pacific abs.: +20% YoY

North America

abs.: +11% YoY

Latin America abs.: +24% YoY

Eastern Europe

& CIS abs.: +25% YoY

Middle East abs.: +44% YoY Africa

abs.: +21% YoY


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


23% 22%

9% 14% 12%

18% 10%

6%

13%

10%

4%

5%

6%

6%

4%

3%

14%

12%

4%

4%

Q3 2010 Q3 2011

Other Industries

Climate &EnvironmentMarine

Chemicals

Pharma

Power

Oil & Gas

Food - Solid

Food - Beverages

Food - Dairy

24

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

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

Δ+17%

Δ+90%

Δ+80%

Δ-28%

Δ-10%

Δ+57%

Δ+19% Δ+12% Δ+0%

Δ+14%

+22%

1,153

1,403

60%

80%

100%

120%

140%

160%

180%

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

Food - Dairy Food - Beverages

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

GEA Group

60%

80%

100%

120%

140%

160%

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

Pharma Chemicals Marine GEA Group

60%

80%

100%

120%

140%

160%

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

Oil & Gas Power

Climate & Environment GEA Group


( w/o CT: +12%)


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

25

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

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

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

Book to Bill categories



1,150

1,606

0

500

1.000

1.500

2.000

2.500

3.000

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

Order Backlog invoicable in respective FY Order Backlog invoicable after respective FY Order Intake Sales

26

II. Performance Top Line Trend

2,164 2,301

2,469 2,424 2,414

2,667 2,771 2,756

[in EUR million]


2,312

3,000

2,500

2,000

1,500

1,000

2,435

950 950

1,362 1,474


Net

Cash 104.8 December 31, 2010

EBITDA

Working

Capital

Net effect from acquisitions

CAPEX

Net Debt

Discont´d operations

Interests / Taxes

Cash out restructuring

September 30, 2011

(73.5)

(672.9)

(203.2)

(94.6)

(68.8)

(30.7)

372.5

(144.5)

(35.1)

II. Performance Net Liquidity Reconciliation – Cash Flow Drivers

27

Other

(499.8)

Net Debt before M&A, dividend and

one-offs as of September 30, 2011

[in EUR million]


(33.8)

Dividend

EUR 30m cash out pensions;

EUR 27m VAT pre-payments to be reimbursed

EUR 16m FX-impact on foreign cash positions


617

590

703

765

799

736

1,075

1,034

1,091

1,169

1,238

1,160

546

672

604

652

706

659

580

507

533

574

612

579

566

445

658

707

720

659

28

Q3 2011 incl. CT

Q3 2010

Q4 2010

-40

-4% Change

II. Performance Working Capital Development

Trade

Receivables

Inven-

tories

Trade

Payables Advance

Payments

Working

Capital

Q2 2011 incl. CT

Change

Change

-28

-4%

+126

+23%

-72

-12%

-122

-22%

+57

+6%

+113

+19%

-68

-10%

+26

+5%

+213

+48%

+69

+6%

+34

+4%

+54

+8%

+38

+7%

+13

+2%

[in EUR million]

Change

Q2 2011 w/o CT

+78

+7%

+62

+9%

+48

+7%

+41

+7%

+49

+7%

Q3 2011 w/o CT

Change -78

-6%

-63

-8%

-46

-7%

-32

-5%

-62

-9%



0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

0

100

200

300

400

500

600

700

800

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

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

29

II. Performance Working Capital Development

-461 bps

[in EUR million]


engineering for a better world 30

II. Performance Service Business

Growth in service sales Q3 2011 yoy: +10.5% to a total of EUR 264m

Share of service sales Q3 2011: 18.9% (Q3 2010: 21.2%)

Gross Margin % of service business stable in 2011 compared to FY 2010



II. Performance GEA Convenience-Food Technologies

Order Intake

Q3

2010

Q3

2011 ∆

(%)

n.a. 107.9 n.a.

thereof organic: n.a.

Sales

Q3

2010

Q3

2011 ∆

(%)

n.a. 112.1 n.a.

thereof organic: n.a.

EBIT bef. PPA*

Q3

2010

Q3

2011 ∆

(%)

n.a. 5.5* n.a.

EBIT Margin bef. PPA*

(%)

Q3

2010

Q3

2011 ∆

(bps)

n.a. 4.9* n.a.

Including non-current items of EUR 2.9m in Q3 2011;

YTD Sept. 2011: EUR 5.6m.

[in EUR million]

Order Intake by Customer Industry Order Intake by Region

100%

Q3 2011

Food & Beverage

42%

21%

19%

10%

4% 3% 1%

Q3 2011

Africa

Middle-East

Latin America

Eastern Europe &CIS

Asia-Pacific

North America

Western Europe



II. Performance GEA Farm Technologies

Order Intake

Q3

2010

Q3

2011 ∆

(%)

115.0 140.3 +22.0

thereof organic: +21.6

Sales

Q3

2010

Q3

2011 ∆

(%)

119.8 138.1 +15.3


EBIT bef. PPA*

Q3

2010

Q3

2011 ∆

(%)

8.3 11.5 +37.6


(%)

Q3

2010

Q3

2011 ∆

(bps)

6.9 8.3 +135

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

[in EUR million]

100%

100%

Q3 2010 Q3 2011

Food &Beverage

41% 37%

32% 30%

11%

13% 10%

11%

6%

9%

Q3 2010 Q3 2011

Asia-Pacific

Latin America

Eastern Europe &CIS

North America

Western Europe


Δ+22%

Δ+10%

Δ+15%

Δ+70%

Δ+34%

Δ+43%



42% 49%

15% 18%

12% 13%

7% 8%

11% 6% 5% 3%

9% 2%

Q3 2010 Q3 2011

Latin America

Africa

Middle-East

North America

Eastern Europe &CIS

Asia-Pacific

Western Europe

29% 36%

34% 30%

21%

14%

3%

6%

6%

5%

4%

5%

4%

4%

Q3 2010 Q3 2011

Food &Beverage

Marine

Other Industries

Chemicals

Oil & Gas

Power

Climate &Environment

33

II. Performance GEA Heat Exchangers

Order Intake

Q3

2010

Q3

2011 ∆

(%)

404.1 369.8 -8.5

thereof organic: -11.8

Sales

Q3

2010

Q3

2011 ∆

(%)

361.6 424.2 +17.3


EBIT bef. PPA*

Q3

2010

Q3

2011 ∆

(%)

29.2 37.9 +29.7


(%)

Q3

2010

Q3

2011 ∆

(bps)

8.1 8.9 +85


[in EUR million]


Δ+14%

Δ-20%

Δ-36%

Δ+82%

Δ-16%

Δ+8% Δ-11%

Δ+7%

Δ+11%

Δ+4%

Δ0%

Δ-75%

Δ-42%

Δ-53%



II. Performance GEA Mechanical Equipment

Order Intake

Q3

2010

Q3

2011 ∆

(%)

191.9 221.6 +15.5


Sales

Q3

2010

Q3

2011 ∆

(%)

193.1 204.9 +6.1


EBIT bef. PPA*

Q3

2010

Q3

2011 ∆

(%)

33.7 39.2 +16.5


(%)

Q3

2010

Q3

2011 ∆

(bps)

17.4 19.1 +170


[in EUR million]

49%

61%

13%

11%

9%

6%

10%

6%

6%

5%

5%

5%

5%

5%

3%

1%

Q3 2010 Q3 2011

Other Industries

Chemicals

Pharma

Oil & Gas

Climate &EnvironmentPower

Marine

Food &Beverage


30% 31%

29%

27%

18%

19% 8%

9%

5%

6%

3%

6%

6%

2%

Q3 2010 Q3 2011

Africa

Eastern Europe &CIS

Middle-East

Latin America

North America

Western Europe

Asia-Pacific

Δ+46%

Δ+2%

Δ-30%

Δ+2%

Δ+24%

Δ+14%

Δ-56%

Δ-35%

Δ+18%

Δ+8%

Δ+25%

Δ+26%

Δ+43%

Δ+98%

Δ-56%

German Investment Seminar – New York - Q3 2011 – Jan 9-11, 2012 34


II. Performance GEA Process Engineering

Order Intake

Q3

2010

Q3

2011 ∆

(%)

321.7 433.3 +34.7


Sales

Q3

2010

Q3

2011 ∆

(%)

330.9 394.7 +19.3


EBIT bef. PPA*

Q3

2010

Q3

2011 ∆

(%)

19.8 34.5 +74.2


(%)

Q3

2010

Q3

2011 ∆

(bps)

6.0 8.7 +275


[in EUR million]

63%

67%

12%

15%

11%

9%

7%

4%

4%

2%

3%

3%

Q3 2010 Q3 2011

Oil & Gas

Other Industries


Power

Chemicals

Pharma

Food &Beverage

Δ-12% Δ-93%

39% 28%

28% 27%

8%

14% 11%

13%

9%

13%

2%

4%

4%

2%

Q3 2010 Q3 2011

Africa

Middle-East

Latin America

North America

Eastern Europe &CIS

Western Europe

Asia-Pacific


Δ+42%

Δ+66%

Δ+16% Δ+1084%

Δ-35%

Δ-2%

Δ+30%

Δ+143%

Δ+54%

Δ+89%

Δ+122%

Δ-18%



II. Performance GEA Refrigeration Technologies

Order Intake

Q3

2010

Q3

2011 ∆

(%)

148.9 164.8 +10.7


Sales

Q3

2010

Q3

2011 ∆

(%)

139.7 166.2 +19.0


EBIT bef. PPA*

Q3

2010

Q3

2011 ∆

(%)

7.3 11.9 +61.9


(%)

Q3

2010

Q3

2011 ∆

(bps)

5.3 7.2 +190


[in EUR million]

62% 53%

8% 15%

9%

13% 9%

7% 7%

5% 2%

4% 1%

2%

Q3 2010 Q3 2011

Power

Marine

Chemicals


Oil & Gas

Other Industries

Food &Beverage

49% 40%

11% 20%

19% 13%

8% 12%

8% 8% 2%

5% 2%

2%

Q3 2010 Q3 2011

Latin America

Middle-East

Africa

Eastern Europe &CIS

North America

Asia-Pacific

Western Europe

Δ-5%

Δ+122%

Δ-12%

Δ-33%

Δ+90% Δ+39%

Δ+58%

Δ-9%

Δ+92%

Δ-27%

Δ+64%

Δ+6%

Δ+128%

Δ+28%




III. Outlook Key Figures FY 2011 – Guidance confirmed

37

Order intake w/o GEA CT: between EUR 5,100m and EUR 5,300m

Sales w/o GEA CT: between EUR 4,800m and EUR 5,000m

EBIT-margin bef. ppa w/o GEA CT: between 9.3% and 9.5%

EBIT-margin before ppa and one-off expenses between 8.5% and 9.0%

Order intake and sales GEA CT: around EUR 300m

For our segment GEA CT we expect for FY 2011 (April-December only)

For GEA without the newly acquired segment GEA CT we expect


one-off expenses for integration: high single digit million EUR amount


III. Outlook Additional Financial Information for 2011

38

* Remaining provisions of EUR 77m to be utilized in following years

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

loss carry forwards:

Cash out for reorganisation: EUR 60m

No further cashouts in subsequent years from reorganisation program

Cash out for discontinued operations*: EUR 80m

Impact from ppa in 2011: around EUR 50m;

thereof GEA CT around EUR 36m

Mid term target for Capex: around 2.0% of sales

Impact from ppa in subsequent years: around EUR 25m p.a.

thereof GEA CT around EUR 14m p.a.



III. Outlook Focus in view of rising uncertainties


Capex under review

Continued focus on working capital management

Very selective hiring of employees

Current level of temporary workers around 9% of total employees

Current exposure to Food & Beverage and to Asia-Pacific substantially higher

than in FY 2008


III. Outlook Long term – Over the Cycle

40

EBIT margin before ppa-impact:

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

Acquisitions to continue

Dividend payout ratio: 1/3 of net income

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



Investor Relations Calendar Upcoming roadshows and conferences


November 15-18 Roadshow Scandinavia Helsinki, Stockholm, Oslo,

Copenhagen

November 10 Roadshow Spain Madrid

November 21-23 Conference Germany Frankfurt

November 24 Roadshow Switzerland Geneva

November 30 Conference Switzerland Zurich

December 1 Roadshow France Paris

December 2 Roadshow Great Britain London

December 5 Conference Great Britain London

January 12 2012 Roadshow Canada Toronto

January 9-11 2012 Conference USA New York

January 17-18 2012 Conference Germany Frankfurt


Financial Calendar

42

March 12, 2012 Annual Report FY 2011

April 24, 2012 Annual General Meeting

May 8, 2012 Interim Report Q1 2012


June 28-29, 2012 Capital Markets Day

February 6, 2012 Preliminary Key Figures FY 2011


Agenda


January – September 2011

I. Key Figures

II. Performance

Backup

Performance GEA Group and Segments

III. Outlook


∆ abs. ∆ in

%

∆ abs. ∆ in

%

∆ abs. ∆ in %

∆ abs. ∆ in %

∆ abs. ∆ in %

[in EUR million]


Q3 2011 vs.

Q3 2010

Q1-Q3 2011 vs.

Q1-Q3 2010

Q3 2011 vs.

Q2 2011

Sales previous

period 1,125 3,128 1,349

Structural

Change +150 +13.3% +284 +9.1% 0 0.0%

Currency Effects -28 -2.5% -37 -1.2% +7 +0.5%

Organic

Development +151 +13.5% +409 +13.1% +41 +3.0%

Sales current

period 1,397 +24.2% 3,784 +21.0% 1,397 +3.6%

Backup: Performance GEA Group Sales Q3 2011


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


Order Intake

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

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

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

GEA Heat Exchangers 485,0 416,4 389,1 431,4 1.721,9 413,6 338,9 365,0 301,3 1.418,7

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

GEA Process Engineering 367,3 355,4 346,4 264,4 1.333,6 251,0 308,7 254,0 334,6 1.148,3

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

GEA Group 1.374,3 1.272,7 1.223,5 1.113,3 4.983,9 1.072,5 1.036,0 962,3 1.009,9 4.080,7

Order Backlog

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

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


GEA Heat Exchangers 1.348,3 1.344,1 1.291,7 1.172,1 1.172,1 1.203,6 1.165,3 1.142,6 1.008,6 1.008,6


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


GEA Group 2.822,6 2.857,8 2.823,8 2.450,7 2.450,7 2.476,2 2.435,3 2.312,2 2.164,1 2.164,1

Sales

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

GEA Convenience-Food Technologies* 91,8 99,1 98,5 104,8 394,1 89,0 79,8 82,8 82,5 334,1


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


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 Group 1.127,2 1.295,8 1.318,0 1.438,0 5.179,0 1.054,5 1.103,9 1.060,8 1.191,9 4.411,2

EBITDA before PPA & restructuring

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

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


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




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

EBITDA-Margin before PPA &

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

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

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

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

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

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

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

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




Order Intake

[In EUR million]Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11

GEA Convenience-Food Technologies* 115,5 94,5 100,7 98,9 409,6 125,5 102,3 107,9

GEA Farm Technologies 101,1 116,1 115,0 116,3 448,5 125,9 129,5 140,3

GEA Heat Exchangers 304,4 398,3 404,1 399,2 1.506,0 375,5 445,6 369,8

GEA Mechanical Equipment 172,0 194,7 191,9 181,8 740,4 219,2 230,1 221,6

GEA Process Engineering 335,7 339,0 321,7 419,7 1.416,1 401,5 426,2 433,3

GEA Refrigeration Technologies 127,5 150,6 148,9 152,5 579,6 152,7 162,8 164,8

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

Order Backlog

[In EUR million]Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11

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


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


GEA Process Engineering 757,6 821,2 788,9 813,0 813,0 888,2 927,4 972,2


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

Sales

[in EUR million]Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11



GEA Heat Exchangers 340,9 370,8 361,6 410,1 1.483,4 338,1 390,9 424,2


GEA Process Engineering 256,9 298,5 330,9 402,2 1.288,5 300,8 385,1 394,7


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

EBITDA before PPA & restructuring

[in EUR million] Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11



GEA Heat Exchangers 33,2 34,6 37,9 47,0 152,7 29,5 35,3 46,9




GEA Group 78,1 98,3 117,6 169,5 463,5 91,0 134,7 165,8

EBITDA-Margin before PPA &

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

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

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

GEA Heat Exchangers 9,7% 9,3% 10,5% 11,5% 10,3% 8,7% 9,0% 11,0%

GEA Mechanical Equipment 15,8% 15,5% 19,5% 23,3% 18,8% 17,0% 21,5% 21,2%

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

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

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




EBIT before PPA & restructuring

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

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

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





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

EBIT-Margin before PPA &

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

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

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

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

GEA Mechanical Equipment 13,8% 15,7% 14,0% 18,8% 15,6% 11,6% 10,8% 15,1% 18,8% 14,0%

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

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

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

EBIT before restructuring

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


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





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

Capital Employed w /o goodw ill**

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


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

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

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

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

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

GEA Group n.a. n.a. n.a. 1.772,4 1.772,4 1.853,4 1.903,4 1.899,0 1.835,9 1.835,9

ROCE w /o goodw ill*** LTM

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


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

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

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

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

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

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




EBIT before PPA & restructuring

[in EUR million]Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11







GEA Group 54,7 73,9 94,8 144,6 367,9 68,3 109,0 139,1

EBIT-Margin before PPA &

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

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






GEA Group 5,8% 6,9% 8,4% 11,2% 8,3% 6,6% 8,1% 10,0%

EBIT before restructuring

[in EUR million] Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11

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






GEA Group 52,6 71,7 92,6 140,0 356,8 66,1 78,7 130,6

Capital Employed w /o goodw ill**

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

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






GEA Group 1.773,8 1.736,2 1.717,3 1.711,9 1.711,9 1.768,6 1.922,3 2.101,1

ROCE w /o goodw ill*** LTM

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

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






GEA Group 18,6% 19,0% 19,5% 20,8% 20,8% 20,9% 19,6% 19,8%


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


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

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

Financial Year was ending end of February. The listed historical figures before Q2 2011 are not

included in the Group-numbers of the corresponding period.

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

Metallgesellschaft AG in 1999

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

the former GEA AG by the former Metallgesellschaft AG in 1999

Q3 2011 Commerzbank German Investment Seminar 2012 · German Investment Seminar ... 331 395 193192...

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