Results Presentation Q1 2018
Disclaimer 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%. 2 GEA Q1 2018 Figures
1. Results Q1 2018 2. Financials Q1 2018 3. Outlook FY 2018 3
Executive Summary Key figures Q1 2018 Order Intake Sales Op. EBITDA Op. EBIT Op. CFD Op. ROCE 1 (EURm) (EURm) (EURm) (EURm) Margin 1,103 1,039 67 44 17.7% 9.1% Δ -2.9% YoY reported Δ +3.5% YoY reported Δ -31.0% YoY Δ -42.7% YoY Δ -285 bps YoY Δ +109 bps YoY Δ -3.8% YoY adj. Δ +4.5% YoY adj. FX impact FX impact -57 EURm -51 EURm or -5.1% or -5.1% 1 Operating ROCE L4Q = operating EBIT (L4Q) / Capital employed excluding EUR ~800m goodw ill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L12M) 4 GEA Q1 2018 Figures
1. Results Q1 2018 2. Financials Q1 2018 3. Outlook FY 2018 5
Key figures and change YoY Q1 2018 Order Intake Sales 1,500 € m 1,500 € m Δ -2.9% Δ +3.5% 1,136 1,103 1,039 1,004 adjusted 1 -3.8% adjusted 1 +4.5% 1,000 € m 1,000 € m 462 564 504 521 -18.1% -3.2% 500 € m 500 € m 701 622 592 +11.4% 532 +12.8% 0 € m 0 € m Q1 17 Q1 18 Q1 17 Q1 18 BA Equipment BA Solutions BA Equipment BA Solutions Operating EBITDA 1 Operating EBITDA Margin 1 96 100 € m Δ -31.0% 80 € m 24 67 Δ YoY Q1 17 Q1 18 adjusted 1 -35.0% 60 € m 0 BA Equipment 13.0% 11.2% -187 bps 40 € m -99.9% 69 66 20 € m -4.6% BA Solutions 4.5% 0.0% -452 bps 0 € m GEA Group 9.6% 6.4% -320 bps Q1 17 Q1 18 BA Equipment BA Solutions 1 Adjusted = before currency translation and structural effects; Please note that the differences between the sum of the BAs and the Group are explained by consolidation/others 6 GEA Q1 2018 Figures
L4Q order intake and sales indexed since Q2 2012 per customer industry 160% CAGR Q2 12 - Q1 18 CAGR Q2 12 - Q1 18 Pharma/Chemical 3% Food 5% Order Intake 140% Other Industries 1% Beverages -2% GEA 2% GEA 2% 120% 100% CAGR Q2 12 - Q1 18 80% Dairy Farming 3% Dairy Processing -1% 60% GEA 2% 160% CAGR Q2 12 - Q1 18 CAGR Q2 12 - Q1 18 Food 6% Pharma/Chemical 3% 140% Beverages -1% Other Industries -1% GEA 2% GEA 2% Sales 120% 100% CAGR Q2 12 - Q1 18 Dairy Farming 2% 80% Dairy Processing 3% GEA 2% 60% Q1 13 Q1 18 Q1 13 Q1 18 Q1 13 Q1 18 7 GEA Q1 2018 Figures
Book-to-Bill ratios L4Q and share of L4Q Order Intake per customer industry DACH Western EU Northern & Asia & Eastern & Middle Central Latin North BtB ratio L4Q Pacific Europe East/Africa Europe America America Total Dairy Farming 1.04 1.11 1.06 1.09 1.08 1.09 1.09 Dairy Processing 0.95 0.82 0.89 0.98 0.78 0.94 0.89 Food 1.02 1.19 1.04 1.07 1.05 0.98 1.06 Beverages 0.94 0.96 0.54 0.87 1.32 1.19 0.92 Pharma 1.04 1.15 0.70 0.65 1.03 1.13 0.97 Chemical 1.23 1.11 0.87 1.51 0.98 1.10 1.14 Oil & Gas 0.42 0.41 2.13 1.02 3.20 0.78 1.47 Marine 1.01 1.05 0.94 1.06 0.96 1.01 1.02 1.08 Others 1.10 1.06 1.08 1.08 0.92 1.14 Total 1.02 1.04 0.95 1.01 1.02 1.05 1.02 Share of L4Q OI Dairy Farming 1% 3% 1% 2% 1% 6% 14% Dairy Processing 5% 4% 3% 2% 1% 2% 18% Food 6% 6% 6% 4% 2% 5% 30% Beverages 2% 2% 1% 1% 1% 2% 10% 7% Pharma 2% 2% 1% 1% 0% 1% Chemical 3% 1% 1% 1% 1% 1% 7% Oil & Gas 0% 0% 1% 0% 0% 0% 1% Marine 1% 0% 0% 0% 0% 0% 2% Others 2% 2% 3% 2% 0% 1% 11% Total 22% 22% 18% 13% 7% 19% 100% 8 GEA Q1 2018 Figures
Order backlog development 3,000 € m 2,500 € m 2,410 2,401 2,389 2,359 2,351 2,324 2,300 2,264 2,256 2,229 2,195 2,148 2,000 € m 2,054 1,500 € m 1,000 € m 500 € m 1.01 1.00 0.99 1.00 1.02 1.03 1.04 1.04 1.02 1.03 1.02 1.03 1.02 0 € m Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 # L4Q BtB ratio 9 GEA Q1 2018 Figures
ROCE development Acquisition: Acquisitions: Comas & CMT De Klokslag 3,500 € m 30% Acquisition: 26.6% 26.7% 25.7% Hilge 25.4% Acquisition: Acquisition: 25.0% 24.7% Imaforni Pavan 25% 22.8% 22.7% 21.1% 20.5% 3,000 € m 19.7% 19.7% 19.6% 19.4% 18.7% 20% 17.7% 16.9% 16.5% 16.4% 15.6% 15.4% 15.1% 14.6% 14.5% 14.1% 13.6% 15% 2,500 € m 2,516 10% 2,434 2,391 2,396 2,370 2,293 2,234 2,188 5% 2,137 2,120 2,000 € m 2,053 2,007 1,974 0% 1,500 € m -5% Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Capital Employed (avg. L12M) ROCE Op. ROCE ROCE = EBIT (L4Q) / Capital employed excluding EUR ~800m goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L12M) Op. ROCE = op. EBIT (L4Q) / Capital employed excluding EUR ~800m goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L12M) 10 GEA Q1 2018 Figures
Working capital to sales ratio 1,200 € m 18% 16.7% 16.7% 16.4% 16.1% 16.4% 15.9% 16.0% 16% 14.3% 1,000 € m 16.0% 13.8% 15.6% 15.6% 15.4% 13.1% 14.6% 14% 13.0% 12.9% 12.7% 14.5% 13.5% 13.2% 13.1% 800 € m 12% 12.6% 12.3% 12.2% 11.9% 761 760 750 731 725 10% 706 674 600 € m 651 632 588 591 583 8% 547 400 € m 6% 4% 200 € m 2% 0 € m 0% Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 WC as of reporting date WC as of reporting date as % of sales (L4Q) WC (average L12M) as % of sales (L4Q) 11 GEA Q1 2018 Figures
Working capital development [in € m] €m Δ YoY Δ QoQ Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 + Inventories 611 671 664 683 660 751 80 91 Trade receivables w/o POC 929 839 830 818 927 851 12 -76 Advance Payments w/o POC 207 225 251 235 196 215 -10 19 + Net trade receivables w/o POC 722 614 579 583 730 636 22 -95 POC receivables 461 442 493 462 465 426 -16 -39 POC liability 420 399 430 400 445 414 15 -31 + Net POC receivables 41 44 62 62 20 12 -32 -8 - Trade payables 624 568 600 597 736 638 70 -98 = Working Capital 750 760 706 731 674 761 1 87 Factoring level with little monthly variation: L12M average as at March 2018 slightly above comparable figure 12 months ago. Definition: Red = Working capital increase Green = Working capital reduction 12 GEA Q1 2018 Figures
Cash Flow Driver Margin as of Q1 2018 1,200 € m 11.1% 10.9% 12% 10.7% 10.5% 10.3% 10.2% 10.2% 9.5% 1,000 € m 9.1% 10% 8.4% 8.0% 9.6% 7.2% 800 € m 9.1% 7.0% 8% 9.0% 8.0% 600 € m 6% 7.0% 6.6% 6.6% 6.6% 6.4% 6.2% 6.2% 400 € m 5.1% 5.1% 4% 550 553 543 501 506 499 476 482 465 200 € m 433 430 422 404 2% 0 € m 0% -35 -31 -37 -22 -47 -43 -39 -54 -48 -84 -108 -134 -134 -82 -87 -86 -87 -92 -118 -92 -91 -91 -119 -98 -200 € m -112 -114 -2% -400 € m -4% Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Delta Working Capital (average L12M) EBITDA (L4Q) Capex (L4Q) 1 Cash Flow Driver Margin Op. Cash Flow Driver Margin ∆ Working Capital (Average L12M) EBITDA (L4Q) Capex (L4Q) - - + Sales (L4Q) Sales (L4Q) Sales (L4Q) 1 Operating Cash Flow Driver Margin is based on operating EBITDA, not on reported EBITDA, and on capex, adjusted for strategic projects from FY 2017 onwards 13 GEA Q1 2018 Figures
Net liquidity per March 2018 (L4Q) [EURm] Net Cash end of prior period 718 Operating EBITDA 534 Delta Working Capital 45 Capex 89 Interests 8 D EUR +186 m excl. Taxes 74 cash out for strategic projects Cash out strategic projects (OpEx & CapEx) 118 Others 54 FX-Effects 79 Net Cash before DOP, M&A and Dividend 786 17 Discontinued Operations Effects from Acquisitions 362 Dividend 153 Share buyback program 418 255 Net cash end of period -163 14 GEA Q1 2018 Figures
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