Results Presentation Q3 2019 Disclaimer This presentation contains - - PowerPoint PPT Presentation

Results Presentation

Q3 2019

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
• f 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 Q3 2019 Figures

2

• 1. Results Q3 2019
• 2. Financials Q3 2019
• 3. Outlook FY 2019

3

€m Q3 19 Q3 18 ∆ FY 2019 Sales Guidance upgraded, EBITDA1 and ROCE1,2 Guidance confirmed Order Intake 1,255 1,197 4.8% Growth in both Business Areas Book-to-bill ratio of 1.02x Sales 1,235 1,189 3.9% Strong service business (growth of 8.3% YoY) Record sales volume in both business areas for a Q3 EBITDA1 143.1 145.2

• 1.4%

Special effects of -€3m; would be slightly above prior years level excl. special effects EBIT1 93.6 92.4 1.4% Increase YoY due to lower amount of purchase price allocation effects ROCE1,2 10.5% 14.6%

• 417bps

Decrease due to a YoY decline in EBIT and an increase in capital employed from a net working capital increase

Executive Summary Q3 2019

4

GEA Q3 2019 Figures

1 Before effects from restructuring (see Annual Report, page 28 ff.); previous year: pro-forma figure incl. IFRS 16 effects; 2 Capital employed excluding goodwill from the acquisition

• f the former GEA AG by former Metallgesellschaft AG in 1999 (average of the last 4 quarters); previous year: pro-forma figure incl. IFRS 16 effects

➢ Start of the exit process for businesses for which GEA is not the best owner ➢ Leading supplier of open and semi-hermetic piston compressors for stationary and transport-related cooling applications ➢ Around €90m sales in FY 2018 ➢ Around 300 employees of which are two-thirds located at the company’s headquarters in Frickenhausen ➢ In total four locations

➢ Germany ➢ Czech Republic ➢ India ➢ China

Update on strategic initiatives Possible disposal of GEA Bock

5

GEA Q3 2019 Figures

• Johannes Giloth to join GEA’s Executive Board
• n January 20th 2020
• Responsible for Procurement, Production and

Logistics

• Different management positions in the areas of

procurement, logistics and production, amongst

• thers with Nokia and Siemens
• Holding a Master of Business Administration

and an Engineering Degree C-level teams now all completed

• CEO and CSO of Farm Technologies appointed

New Chief Technology Officer appointed

• Further strengthening the strategic focus on

technology

• Ensuring that GEA’s portfolio matches market

trends and customer demands (e.g. plant-based food products, meat and dairy substitutes) Divisional representatives nominated

• The representatives are the backbone of the

future matrix structure in the countries

New COO: Johannes Giloth Further personnel updates

Update on the new organizational structure Personnel updates

6

GEA Q3 2019 Figures

• 1. Results Q3 2019
• 2. Financials Q3 2019
• 3. Outlook FY 2019

7

Order Intake, Sales and Book-to-Bill

8

GEA Q3 2019 Figures

1,057 1,317 1,103 1,383 1,197 1,235 1,186 1,147 1,255 1,131 1,331 1,039 1,227 1,189 1,373 1,057 1,247 1,235 0 €m 200 €m 400 €m 600 €m 800 €m 1,000 €m 1,200 €m 1,400 €m Q3 17 Q3 18 Q3 19 Order Intake Sales

0.93 0.99 1.06 1.13 1.01 0.90 1.12 0.92 1.02

BtB

➢ Sales reached a new record level for a Q3 ➢ Solid book-to-bill ratio of 1.02x ➢ Q3 order intake was also positively impacted by

• rder deferrals of ~€60m

YoY Development ➢ Especially small (<€1m) and large (>€15m)

• rders contributed to the order growth

➢ Accelerating sales momentum compared to the prior quarters QoQ Development ➢ Strong improvement in orders >€5m ➢ Orders <€5m were trending weaker ➢ Sales sequentially slightly down

112 201 61 126 128 157 75 111 143 83 168 27 91 91 97 27 57 94 21.8% 19.8% 16.8%16.0%15.3% 12.3%12.0% 10.5%10.5% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 0 €m 50 €m 100 €m 150 €m 200 €m 250 €m Q3 17 Q3 18 Q3 19 EBITDA EBIT ROCE

EBITDA1, EBIT1 and ROCE1,2

9

GEA Q3 2019 Figures

➢ Accounting change IFRS 16 from Q1 2019

• nwards

➢ Q3 2019 EBITDA1 down YoY due to special effects of -€3m despite positive IFRS 16 impact

• f €18m

➢ Excluding special effects, EBITDA1 would have been above prior year’s level ➢ EBIT1 with slight improvements compared to prior year’s Q3 due to lower PPA effects ➢ ROCE1,2 declined YoY also due to the phasing in of IFRS 16 assets in capital employed

Change in IFRS 16 accounting

1 Before effects from restructuring (see Annual Report, page 28 ff.); 2 Capital employed excluding goodwill from the acquisition of the former GEA AG by former Metallgesellschaft

AG in 1999 (average of the last 4 quarters) 1 1 1,2

EBITDA before restructuring YoY Development [€m]

10

18 12 17 Volume 145 EBITDA Q3 18

• incl. €18m

IFRS 16 effect Margin Other R&D

• 19

EBITDA Q3 19 SG&A

• 7
• 5

F/X and delta D&A 128 143

GEA Q3 2019 Figures

BA-E

• +€1m New Machines
• +€10m Service

BA-S

• -€3m New Machines
• +€3m Service

BA-E

• +€2m New Machines
• -€3m Service

BA-S

• +€10m New Machines (therein

+€1m backlog review BA-S)

• +€3m Service
• Cons. / other
• +€4m other

FX impacts

• -€1m

Delta D&A (total)

• -€4m other

Other

• -€4m legal disputes
• -€3m other

Expenses highlighted in bold letters are special effects Total special effects in Q3 2019: -€3m SG&A

• -€15m Personnel expenses
• -€4m other

EBITDA before restructuring per Segment YoY Development [€m]

11

18 4 F/X impacts EBITDA Q3 18

• incl. €18m IFRS 16

effect

• 3

128 BA-E BA-S

• 2

RoC/GCC

• 2

143 EBITDA Q3/19 145

GEA Q3 2019 Figures

BA-S

• +€0 Volume
• +€13m Margin (therein +€1m

backlog review BA-S)

• +€0 R&D
• €11m SG&A
• +€2m other
• €1m Delta D&A

BA-E

• +€11m Volume
• €1m Margin
• €1m R&D
• €4m SG&A
• €6m other (therein -€4m

legal disputes)

• €2m Delta D&A

RoC/GCC

• €2m personnel expenses

FX impacts

• BA-E -€1m
• BA-S +€2m
• RoC/GCC -€2m

Expenses highlighted in bold letters are special effects Total special effects in Q3 2019: -€3m

Service Sales

12

GEA Q3 2019 Figures

220 260 225 237 241 269 243 255 263 123 171 117 144 138 171 117 153 148 331 415 329 368 366 428 346 394 396 0 €m 100 €m 200 €m 300 €m 400 €m 500 €m Q3 17 Q3 18 Q3 19 BA Equipment BA Solutions

Please note that the differences between the sum of the BAs and the Group are explained by consolidation/others

➢ Service sales grew by 8.3% YoY to €396m ➢ Record service sales volumes for both Business Areas for a Q3 ➢ Growth at Business Area Equipment was especially driven by service in Separation and Homogenizers ➢ Growth at Business Area Solutions was supported by an increase in service volume as well as in pricing ➢ Growth at both Business Areas supported by better pricing and by solid underlying demand

➢ Net working capital stood at the end of Q3 19 at €941m or 19.2% of L4Q sales – an increase of €37m or 30bps YoY ➢ However, the momentum of the Net Working Capital increase is getting sequentially lower ➢ Net Working Capital increased at BA Equipment by €60m and declined at BA Solutions by €25m ➢ Inventories were almost on prior year’s level and increased YoY by just €2m ➢ Net trade receivables (without POC) were down by €34m YoY while net POC receivables increased by €8m ➢ Trade payables declined by €61m and therefore contributed most to the increase in net working capital

Net working capital to sales ratio

13

GEA Q3 2019 Figures

731 674 761 848 904 747 833 906 941 16.0% 14.6% 16.4% 17.9% 18.9% 15.5% 17.2% 18.6%19.2% 0% 5% 10% 15% 20% 25% 0€m 200€m 400€m 600€m 800€m 1,000€m 1,200€m Q3 17 Q3 18 Q3 19 NWC as of reporting date NWC as of reporting date as % of sales (L4Q)

Cash flow and net financial debt per Q3 19

14

GEA Q3 2019 Figures

Free Cash Flow

• Negative effect in net working capital of €28m

mainly related to a reduction of payables

• Restructuring related cash outflow of €6m: BA-E

€2m; BA-S €1m; GCC €3m

• Others cash in of €21m: includes pension related

cash outflows of €10m and non cash add-backs from provisions of €35m

• Capex €29m: BA-E €16m, BA-S €8m, GCC €5m

Net Cash flow

• IFRS 16: BA-E €7m, BA-S €8m, GCC €1m

Net financial debt

• FX €1m: translation effects from valuation

changes of cash positions

• Others €6m: mostly F/X translation effects from

intercompany financing and interests

Free Cash Flow Q3 19 [€m] Net financial debt Q3 19 vs. Q2 19 [€m]

143 118 90 71 28 21 29 16 1 6

Interest EBITDA before Restructuring Delta NWC

12

Taxes Operating Cash flow Others IFRS 16 payments Cash-out Restructuring Others Capex

1

Free Cash Flow Net Cash Flow Capex Restructuring

3

• 330
• 263

6

Net debt Q2 2019

1 71

Net debt Q3 2019 Net Cash Flow DOP F/X impacts Other

Maturites [€m]

* Total net debt / cons. EBITDA based on frozen GAAP (covenant concept) ** According to Moody’s consideration (3.1x in September as of June 2019)

Financing and liquidity

15

*Including uncommitted lines and credit lines < 1 Year. **From the €150m EIB €100m will be lapsed in 2020 if not utilized 100

193 650 128 128

122 122 250 50

2019 2023 2020 2025 2021 2022 2024

50

350 172 172

Evergreens* EIB** BNL (2023) BNL (2025) Syn Loan

Left side: committed Right side: utilization

Rating

Agency Rating Outlook Last update Moody's Baa2 negative February 27, 2019 Fitch BBB negative June 29, 2019

Financing and liquidity

➢ Sufficient financial leeway and flexibility due to long term financing and liquidity back-up facility; However, limited headroom for maintaining current investment grade rating ➢ Evergreens: Mainly uncommitted lines that are shown to the extent of their utilization and which will be extended if needed ➢ EIB: No further utilization planned in 2019; availability period ends in 2020 but could be extended on a mutual agreement in 2020, whereby a maximum maturity up to 2027 is possible

GEA Q3 2019 Figures

Spot

∆ Sep Sep FY €m A 2019A 2018A 2018A Equity  2,380 2,476 2,449 Leverage* (Covenant 3x)  0.6x 0.7x 0.2x Leverage** (Rating)  3.1x 2.7x 2.3x Financial Headroom  750 800 750 Cash and Cash Equivalents  230 263 248 Net Debt  263 331 72 Committe €m Sep 19 Sep 19 FY 2018 Borrower's note loan (2023) 128 128 128 Borrower's note loan (2025) 122 122 122 European Investment Bank (EIB) 150 50 50 Other bilateral credit lines 250 193 20 Syndicated credit line ("Club Deal") 650

• Total

1.300 493 320 Utilized

• 1. Results Q3 2019
• 2. Financials Q3 2019
• 3. Outlook FY 2019

16

Guidance FY 2019

GEA Q3 2019 Figures

This forecast is based on the assumptions described in the Report on Expected Developments on pages 124 ff. in the 2018 Annual Report and takes into account, among other things, the assumption that there will be no significant slowdown in global economic growth. Potential acquisitions and divestments in 2019 are not considered.

EBITDA

(before restructuring measures)

ROCE

(before restructuring measures)

Revenue On par with last year’s level (EUR 4,828m) between EUR 450 and 490m

(previous year pro forma figure incl. IFRS 16 effects from 2019: approx. EUR 535m)

between 8.5% and 10.5%

(previous year pro forma figure incl. IFRS 16 effects from 2019: ca. 11.5%) 17 17

Roadmap for 2019/20

18

GEA Q3 2019 Figures

Q3 2019

25 October 2019

Divisional Strategy Day Q2 2020

FY 2019 March 17 2020 Q1 2020 May 15 2020 Q2 2020 August 12 2020 AGM April 30 2020 New org. structure fully implemented 1 January 2020

Appendix

19

23% 20% 7% 18% 14% 17%

Sales by Customer Industry

12% 18% 30% 11% 14% 15%

GEA – Q3 2019 figures

GEA Q3 2019 Figures

1 Adjusted = before FX and structural effects; 2 Before effects from restructuring (see Annual Report, page 28 ff.); previous year: pro-forma figure incl. IFRS 16 effects; 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); previous year: pro-forma figure incl. IFRS 16 effects

Order Intake Development by Size Order Intake and Sales (L4Q) Sales by Region

Dairy Farming

• 2% YoY

Dairy Processing 2% YoY Food 2% YoY Beverages 6% YoY Pharma/Chemical

• 1% YoY

Other Industries 13% YoY GEA 3% YoY Sales L4Q as of Q3 19 EUR 4,912m Sales L4Q as of Q3 19 EUR 4,912m Asia-Pacific 8% YoY 7% adj. YoY DACH & Eastern Europe

• 2% YoY
• 3% adj. YoY

Latin America 1% YoY 5% adj. YoY North America 0% YoY

• 4% adj. YoY

Northern/Central Europe 11% YoY 10% adj. YoY Western Europe, M. East & Africa

• 1% YoY
• 2% adj. YoY

GEA 3% YoY 2% adj. YoY

4,000 €m 4,500 €m 5,000 €m 5,500 €m Q3 16 Q3 17 Q3 18 Q3 19 Order Intake Sales 754 812 758 788 729 850 853 802 748 791 802 811 792 156 221 211 228 185 270 218 281 210 260 219 238 192 137 79 116 89 107 122 32 180 160 76 127 80 148 36 111 50 136 35 75 120 79 107 38 18 122 1,084 1,223 1,136 1,241 1,057 1,317 1,103 1,383 1,197 1,235 1,186 1,147 1,255 0€m 200€m 400€m 600€m 800€m 1,000€m 1,200€m 1,400€m Q3 16 Q3 17 Q3 18 Q3 19 < €1m >= €1m < €5m >= €5m < €15m >= €15m [ in EU R million] Q3 18 Q3 19 ∆ Y oY L4 Q Q3 18 L4 Q Q3 19 ∆ Y oY Order Int ake 4.8%

• 3.5%

Organic 1 3.3%

• 4.3%

Sales 3.9% 2.6% Organic 1 2.4% 1 .5% Order B acklog 2,550.1 2 ,4 3 5.6

• 4.5%

2,550.1 2 ,4 3 5.6

• 4.5%

EB ITD A 2 1 45.2 14 3 .1

• 1

.4% 565.0 4 8 6 .3

• 1

3.9% EB ITD A M argin 2 1 2.2% 11.6 %

• 62 bps

1 1 .8% 9 .9 %

• 1

90 bps EB IT 2 92.4 9 3 .6 1 .4% 379.5 2 75.5

• 27.4%

EB IT M argin 2 7.8% 7.6 %

• 1

8 bps 7.9% 5.6 %

• 232 bps

R OC E 3 1 4.6% 10 .5%

• 41

7 bps 1 4.6% 10 .5%

• 41

7 bps 1 ,1 97.2 1,2 54 .8 4,999.7 4 ,8 2 2 .8 1 ,1 88.9 1,2 3 4 .7 4,786.7 4 ,9 12 .2

20

Sales by Customer Industry

24% 10% 36% 6% 8% 16%

BA Equipment – Q3 2019 figures

GEA Q3 2019 Figures

Order Intake Development by Size Order Intake and Sales (L4Q) Sales by Region

Dairy Farming

• 2% YoY

Dairy Processing

• 1% YoY

Food 7% YoY Beverages 10% YoY Pharma/Chemical 11% YoY Other Industries 7% YoY BA Equipment 5% YoY Sales L4Q as of Q3 19 EUR 2,690m Asia-Pacific 22% YoY 20% adj. YoY DACH & Eastern Europe 5% YoY 5% adj. YoY Latin America

• 2% YoY

5% adj. YoY North America

• 5% YoY -10% adj. YoY

Northern/Central Europe 2% YoY 2% adj. YoY Western Europe, M. East & Africa 2% YoY

• 1% adj. YoY

BA Equipment 5% YoY 3% adj. YoY

21% 23% 7% 20% 13% 17%

Sales L4Q as of Q3 19 EUR 2,690m 2,000 €m 2,200 €m 2,400 €m 2,600 €m 2,800 €m 3,000 €m 3,200 €m 3,400 €m Q3 16 Q3 17 Q3 18 Q3 19 Order Intake Sales 522 556 550 566 538 595 633 585 536 590 594 585 580 32 42 53 36 40 49 60 56 81 32 73 69 40 8 19 20 27 9 48 6 5 16 6 19 562 598 622 622 577 671 701 688 624 649 683 660 672 0€m 100€m 200€m 300€m 400€m 500€m 600€m 700€m 800€m Q3 16 Q3 17 Q3 18 Q3 19 < €1m >= €1m < €5m >= €5m < €15m >= €15m [ in EU R million] Q3 18 Q3 19 ∆ Y oY L4 Q Q3 18 L4 Q Q3 19 ∆ Y oY Order Int ake 7.8%

• 0.7%

Organic 1 6.4%

• 1

.7% Sales 5.6% 4.5% Organic 1 4.2% 3.1 % Order B acklog 871 .2 8 2 8 .7

• 4.9%

871 .2 8 2 8 .7

• 4.9%

EB ITD A 2 1 1 6.0 112 .3

• 3.1

% 41 3.9 3 9 6 .8

• 4.1

% EB ITD A M argin 2 1 7.8% 16 .3 %

• 1

48 bps 1 6.1 % 14 .8 %

• 1

33 bps EB IT 2 85.1 8 3 .1

• 2.3%

299.3 2 6 5.8

• 1

1 .2% EB IT M argin 2 1 3.1 % 12 .1%

• 98 bps

1 1 .6% 9 .9 %

• 1

74 bps R OC E 3 1 6.2% 14 .1%

• 21

2 bps 1 6.2% 14 .1%

• 21

2 bps 623.9 6 72 .3 2,684.4 2 ,6 6 4 .6 2,573.7 2 ,6 8 9 .6 650.5 6 8 7.1

21

1 Adjusted = before FX and structural effects; 2 Before effects from restructuring (see Annual Report, page 28 ff.); previous year: pro-forma figure incl. IFRS 16 effects; 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); previous year: pro-forma figure incl. IFRS 16 effects

BA Solutions – Q3 2019 figures

GEA Q3 2019 Figures

Sales by Customer Industry Order Intake Development by Size Order Intake and Sales (L4Q) Sales by Region

Dairy Processing 3% YoY Food

• 5% YoY

Beverages 5% YoY Pharma/Chemical

• 5% YoY

Other Industries 21% YoY BA Solutions 1% YoY

26% 25% 17% 20% 13%

Asia-Pacific

• 1% YoY
• 1% adj. YoY

DACH & Eastern Europe

• 9% YoY
• 9% adj. YoY

Latin America 4% YoY 5% adj. YoY North America 8% YoY 3% adj. YoY Northern/Central Europe 20% YoY 20% adj. YoY Western Europe, M. East & Africa

• 4% YoY
• 3% adj. YoY

BA Solutions 1% YoY 1% adj. YoY

26% 18% 8% 15% 16% 17%

Sales L4Q as of Q3 19 EUR 2,481m Sales L4Q as of Q3 19 EUR 2,481m 2,000 €m 2,200 €m 2,400 €m 2,600 €m 2,800 €m 3,000 €m 3,200 €m 3,400 €m Q3 16 Q3 17 Q3 18 Q3 19 Order Intake Sales 278 316 258 274 242 326 281 278 267 269 278 297 279 125 179 158 192 146 221 158 225 129 229 146 169 152 129 79 97 70 108 95 23 132 153 71 111 74 129 36 111 50 136 35 75 120 79 85 38 18 105 569 685 564 672 531 717 462 755 628 654 573 557 665 0€m 100€m 200€m 300€m 400€m 500€m 600€m 700€m 800€m Q3 16 Q3 17 Q3 18 Q3 19 < €1m >= €1m < €5m >= €5m < €15m >= €15m

22

[ in EU R million] Q3 18 Q3 19 ∆ Y oY L4 Q Q3 18 L4 Q Q3 19 ∆ Y oY Order Int ake 6.0%

• 4.4%

Organic 1 4.3%

• 4.9%

Sales 2.7% 1 .4% Organic 1 1 .2% 0.7% Order B acklog 1 ,740.4 1,6 9 8 .9

• 2.4%

1 ,740.4 1,6 9 8 .9

• 2.4%

EB ITD A 2 40.8 4 6 .7 1 4.4% 1 76.1 12 9 .6

• 26.4%

EB ITD A M argin 2 6.8% 7.6 % 78 bps 7.2% 5.2 %

• 1

98 bps EB IT 2 23.5 3 0 .3 29.0% 1 1 9.1 6 2 .2

• 47.8%

EB IT M argin 2 3.9% 4 .9 % 1 00 bps 4.9% 2 .5%

• 236 bps

R OC E 3 1 6.3% 8 .9 %

• 739 bps

1 6.3% 8 .9 %

• 739 bps

627.6 6 6 5.1 2,562.1 2 ,4 4 9 .5 2 ,4 8 1.1 2,445.9 6 14 .2 598.0

1 Adjusted = before FX and structural effects; 2 Before effects from restructuring (see Annual Report, page 28 ff.); previous year: pro-forma figure incl. IFRS 16 effects; 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); previous year: pro-forma figure incl. IFRS 16 effects

Order intake Q3 2019

GEA Q3 2019 Figures

23

in EURm

∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in % Order Intake previous period Structural Change 0.0% 0.0% 0.0% 22 0.4% Currency Translation 19 1.5% 1 0.1% 31 0.9% 16 0.3% Like-for-Like Development 39 3.3% 107 9.3%

• 126
• 3.4%
• 215
• 4.3%

Order Intake current period 4,823

• 3.5%

1,255 4.8% 1,255 9.4% 3,588

• 2.6%

L4Q Q3 19 vs. L4Q Q3 18 1,197 1,147 3,683 5,000 Q3 19 vs. Q3 18 Q3 19 vs. Q2 19 Q1 - Q3 19 vs. Q1 - Q3 18

Sales Q3 2019

GEA Q3 2019 Figures

in EURm

∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in % Sales previous period Structural Change 0.0% 0.0% 0.0% 37 0.8% Currency Translation 18 1.5% 1 0.1% 32 0.9% 15 0.3% Like-for-Like Development 28 2.4%

• 13
• 1.1%

52 1.5% 73 1.5% Sales current period 4,787 1,235 3.9% 1,235

• 1.0%

3,539 2.4% 4,912 2.6% 1,189 1,247 3,455 Q3 19 vs. Q3 18 Q3 19 vs. Q2 19 Q1 - Q3 19 vs. Q1 - Q3 18 L4Q Q3 19 vs. L4Q Q3 18

24

Reported order intake development YoY/QoQ as of Q3 2019

GEA Q3 2019 Figures

Q3 19 L4Q Share of order intake BtB QoQ YoY YoY Q3 19 L4Q L4Q Dairy Farming 12% 0.95 Dairy Processing 17% 0.93 Food 29% 0.95 Beverages 14% 1.23 Food & Beverages 72% 0.99 Pharma 6% 0.87 Chemical 6% 0.92 Pharma/Chemical 13% 0.90 Oil & Gas 2% 1.19 Marine 2% 1.04 Others 11% 1.00 Other Industries 15% 1.02 GEA 100% 0.98 Q3 19 Quarter selective Less than -5% Between -5% and -1% Between -1% and 1% Between 1% and 5% More than 5%

25

Pharma/Chemical 3% Other Industries 2% GEA 3% CAGR Q2 12 - Q3 19 Dairy Farming 0% Dairy Processing

• 1%

GEA 2% CAGR Q2 12 - Q3 19

L4Q order intake and sales indexed Q2 2012 to Q3 2019 per customer industry

Order Intake Sales

GEA Q3 2019 Figures

Food 4% Beverages 3% GEA 2% CAGR Q2 12 - Q3 19 Pharma/Chemical 1% Other Industries 2% GEA 2% CAGR Q2 12 - Q3 19 Dairy Farming 2% Dairy Processing 1% GEA 3% CAGR Q2 12 - Q3 19 Food 6% Beverages 0% GEA 3% CAGR Q2 12 - Q3 19

26

60% 80% 100% 120% 140% 160% 60% 80% 100% 120% 140% 160%

Order intake split as of Q3 2019 L4Q: Top 20 countries account for 75% of GEA‘s order intake

More than 5% Betw een 1% and 5% Betw een -1% and 1% Betw een -5% and -1% Less than -5% GEA Q3 2019 Figures

27

33% of order intake 16% of order intake 0% of order intake 14% of order intake 37% of order intake

USA 15% 0.97 China 9% 0.99 Germany 9% 0.98 France 5% 1.08 Russia 4% 1.10 Canada 4% 1.39 Netherlands 3% 0.87 Great Britain 3% 0.86 Brazil 3% 1.10 Spain 3% 0.91 Italy 3% 1.05 Poland 2% 1.05 Belgium 2% 0.84 India 2% 0.70 Ireland 2% 0.88 New Zealand 2% 1.30 Australia 2% 1.13 Indonesia 2% 1.10 Japan 2% 0.75 Switzerland 1% 1.26 Emerging Markets 37% 0.94 GEA 100% 0.98 Country Share of total

• rder intake

Growth yoy BtB

Additional financial information for FY 2019

GEA Q3 2019 Figures

Strategic Projects (included in EBITDA before restructuring) (€m) around

40

Depreciation & Amortization (incl. PPA, IFRS 16) (€m) around

214

Thereof impact from PPA (€m) around

35

Capex before restructuring (of sales) ca.

3.3%

Tax Rate around

23%

Dividend Policy 28 Thereof impact from initial application of IFRS 16 (€m) around

61

For FY 19:

Stable dividend

Pro Forma Q3 2018 EBITDA and EBIT before restructuring

29

GEA Q3 2019 Figures

€m Q3 18

• p. EBITDA

Pro Forma IFRS 16 Pro Forma

• p. EBITDA

Strategic Projects PPA Pro Forma EBITDA bef. Restr. GEA AG 137.6 +17.7 155.3

• 9.8
• 0.2

145.2 BAE 108.8 +7.7 116.5

• 0.3
• 0.2

116.0 BAS 32.7 +8.5 41.2

• 0.3

0.0 40.8 Other/GCC

• 3.9

+1.5

• 2.4
• 9.2

0.0

• 11.6

€m Q3 18

• p. EBIT

Pro Forma IFRS 16 Pro Forma

• p. EBIT

Strategic Projects PPA Pro Forma EBIT bef. Restr. GEA AG 112.2 +0.9 113.1

• 9.8
• 11.0

92.4 BAE 93.7 +0.4 94.2

• 0.3
• 8.8

85.1 BAS 25.6 +0.5 26.0

• 0.3
• 2.2

23.5 Other/GCC

• 7.1

+0.0

• 7.1
• 9.2

0.0

• 16.2

FX Development

GEA Q3 2019 Figures

30

EUR 46%

• USD

16% 1.12

• 6%

CNY 6% 7.71

• 1%

DKK 4% 7.46 0% GBP 4% 0.88 0% RUB 3% 73.09 0% CAD 2% 1.49

• 3%

SGD 2% 1.53

• 4%

BRL 2% 4.36 2% PLN 2% 4.30 1% JPY 2% 122.57

• 6%

∆ FX YoY Sep 2019 vs Sep 2018 Currency % total Sep Q3 * FX Rates Sep Q3 (average) *Share of functional (i.e. local P&Ls) currencies in the translation mix of the group

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