Results Presentation Q2 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 Q2 2018 Figures
1. Results Q2 2018 2. Financials Q2 2018 3. Outlook FY 2018 3
Executive Summary Key figures Q2 2018 Order Intake Sales Op. EBITDA Op. EBIT Op. CFD Op. ROCE 1 (EURm) (EURm) (EURm) (EURm) Margin 1,383 1,227 133 109 17.2% 9.3% Δ +11.4% YoY reported Δ +7.8% YoY reported Δ +8.6% YoY Δ +6.9% YoY Δ -221 bps YoY Δ +230 bps YoY Δ +9.9% YoY adj. Δ +6.7% YoY adj. FX impact FX impact -47 EURm -48 EURm or -3.8% or -4.2% 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 Q2 2018 Figures
1. Results Q2 2018 2. Financials Q2 2018 3. Outlook FY 2018 5
Key figures and change YoY Q2 2018 Order Intake Sales 1,383 1,500 € m 1,500 € m 1,241 Δ +11.4% Δ +7.8% 1,227 1,138 adjusted 1 +9.9% adjusted 1 +6.7% 755 1,000 € m 1,000 € m 672 633 602 +12.5% +5.3% 500 € m 500 € m 688 653 622 586 +11.6% +10.7% 0 € m 0 € m Q2 17 Q2 18 Q2 17 Q2 18 BA Equipment BA Solutions BA Equipment BA Solutions Operating EBITDA 1 Operating EBITDA Margin 1 150 € m 122 133 Δ +8.6% 35 Δ YoY Q2 17 Q2 18 100 € m adjusted 1 +6.1% 38 BA Equipment 16.5% 13.9% -261 bps +7.2% 50 € m 97 91 -6.0% BA Solutions 5.8% 5.9% 11 bps 0 € m GEA Group 10.8% 10.8% 8 bps Q2 17 Q2 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 Q2 2018 Figures
L4Q order intake and sales indexed since Q2 2012 per customer industry 160% CAGR Q2 12 - Q2 18 CAGR Q2 12 - Q2 18 Pharma/Chemical 4% Food 5% Order Intake 140% Other Industries 1% Beverages 0% GEA 2% GEA 2% 120% 100% CAGR Q2 12 - Q2 18 80% Dairy Farming 3% Dairy Processing 0% 60% GEA 2% 160% CAGR Q2 12 - Q2 18 CAGR Q2 12 - Q2 18 Food 7% Pharma/Chemical 4% 140% Beverages -1% Other Industries 0% GEA 3% GEA 3% Sales 120% 100% CAGR Q2 12 - Q2 18 Dairy Farming 3% 80% Dairy Processing 2% GEA 3% 60% Q2 13 Q2 18 Q2 13 Q2 18 Q2 13 Q2 18 7 GEA Q2 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 1.03 1.11 0.99 1.09 1.02 1.02 1.05 Dairy Processing 0.94 0.81 0.84 1.25 1.15 1.00 0.95 Food 0.95 1.11 1.06 1.01 1.14 0.94 1.03 Beverages 1.51 0.81 0.71 0.97 1.41 0.99 1.05 Pharma 0.89 0.78 0.94 0.96 2.52 1.32 1.00 Chemical 1.16 1.25 1.02 1.44 0.79 1.69 1.20 Oil & Gas 1.77 0.88 1.10 1.05 2.73 0.89 1.20 Marine 1.27 1.10 1.02 1.00 0.92 1.08 1.11 Others 0.96 1.12 1.09 1.11 0.78 0.75 1.01 Total 1.05 0.99 0.97 1.09 1.15 1.03 1.03 Share of L4Q OI Dairy Farming 1% 3% 1% 1% 1% 5% 13% Dairy Processing 5% 4% 3% 3% 2% 2% 18% Food 5% 6% 7% 4% 2% 5% 30% Beverages 4% 2% 1% 1% 1% 2% 11% Pharma 2% 1% 1% 1% 0% 2% 7% Chemical 3% 1% 1% 1% 1% 1% 8% Oil & Gas 0% 0% 1% 0% 0% 0% 1% Marine 1% 1% 0% 0% 0% 0% 2% Others 2% 2% 3% 2% 0% 1% 10% Total 22% 21% 18% 14% 8% 18% 100% 8 GEA Q2 2018 Figures
Product Groups and Application Centers of GEA Product Group (PG)/ Gross Margin Order intake Q2 18 Quarter selective Order intake % of order intake BtB L4Q Application Center (APC) Ø FY 16-17 1 QoQ YoY Q2 18 L4Q YoY Q2 18 L4Q 2 Q2 18 PG Food Processing & Packaging; ~10% 1.10 Pasta, Extrusion & Milling PGs Separation, Homogenizers, ~25% 1.03 Flow Components, Compression PG Milking Dairy Farming ~15% 1.05 BA Equipment APC Dairy ~10% 0.90 APC Beverage ~10% 1.05 APC Food ~10% 0.99 APC Utilities ~10% 0.99 APC Pharma ~5% 1.04 APC Chemicals ~5% 1.22 BA Solutions GEA 1.03 All changes on a reported basis, not adjusted for structural changes and currency effects 1 compared to GEA average (including service); yellow = about average, green = above average, red = below average 2 split rounded to nearest 5% Less than -10% Between -10% and -2% Between -2% and 2% Between 2% and 10% More than 10% 9 GEA Q2 2018 Figures
Order backlog development 3,000 € m 2,500 € m 2,554 2,410 2,401 2,389 2,359 2,351 2,324 2,300 2,264 2,229 2,195 2,148 2,000 € m 2,054 1,500 € m 1,000 € m 500 € m 1.00 0.99 1.00 1.02 1.03 1.04 1.04 1.02 1.03 1.02 1.03 1.02 1.03 0 € m Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 L4Q BtB ratio # 10 GEA Q2 2018 Figures
ROCE development Acquisitions: Comas & CMT 4,000 € m 30% Acquisition: 26.7% 25.7% Hilge 25.4% Acquisition: Acquisition: 25.0% 24.7% Imaforni Pavan 25% 22.8% 3,500 € m 21.1% 20.5% 19.7% 19.7% 19.6% 19.4% 18.7% 20% 17.7% 17.2% 16.9% 16.5% 16.4% 15.6% 15.4% 15.1% 14.6% 3,000 € m 14.5% 14.1% 13.6% 13.3% 15% 10% 2,631 2,500 € m 2,516 2,434 2,396 2,391 2,370 5% 2,293 2,234 2,188 2,137 2,000 € m 2,120 2,053 2,007 0% 1,500 € m -5% Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 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) 11 GEA Q2 2018 Figures
Working capital to sales ratio 1,200 € m 20% 17.9% 1,100 € m 18% 16.7% 16.7% 16.4% 16.0% 16.0% 15.6% 15.9% 1,000 € m 16% 16.4% 16.1% 14.3% 15.8% 15.6% 13.8% 15.4% 900 € m 14.6% 14% 13.1% 13.0% 14.5% 12.7% 13.5% 13.2% 13.1% 847 800 € m 12% 12.6% 12.3% 11.9% 760 761 750 700 € m 731 10% 725 706 674 651 600 € m 632 8% 591 583 547 500 € m 6% 400 € m 4% Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 WC as of reporting date WC as of reporting date as % of sales (L4Q) WC (average L12M) as % of sales (L4Q) 12 GEA Q2 2018 Figures
GEA – WC – Quarterly Analysis 87 DIO (Inventory / CoS * Days [in respective Quarter]) 46 Advances / Sales * Days [in respective Quarter] Mar’13 Mar’13 77 42 Jun’13 Jun’13 Sep’13 Sep’13 Dec’13 Dec’13 85 46 Mar’15 Mar’15 74 38 Jun’15 Jun’15 Sep’15 Sep’15 Dec’15 Dec’15 86 56 Mar’16 Mar’16 73 49 Jun’16 Jun’16 Sep’16 Sep’16 Dec’16 Dec’16 88 56 Mar’17 Mar’17 77 54 Jun’17 Jun’17 Sep’17 Sep’17 Dec’17 Dec’17 90 54 Mar’18 Mar’18 83 51 Jun’18 Jun’18 Ø 77 Ø 46 13
GEA – WC – Quarterly Analysis 38 (Net Receivables + Net PoC) / Sales * Days [in respective Quarter] DSO net of advances and POC liabilities: 85 DSO : (Trade and POC) Receivables / Sales * Days [in respective Quarter] Mar’13 Mar’13 38 80 Jun’13 Jun’13 Sep’13 Sep’13 Dec’13 Dec’13 42 88 Mar’15 Mar’15 40 79 Jun’15 Jun’15 Sep’15 Sep’15 Dec’15 Dec’15 102 94 47 Mar’16 Mar’16 45 Jun’16 Jun’16 Sep’16 Sep’16 Dec’16 Dec’16 115 106 59 Mar’17 Mar’17 51 Jun’17 Jun’17 Sep’17 Sep’17 Dec’17 Dec’17 111 108 56 Mar’18 Mar’18 58 Jun’18 Jun’18 Ø 47 Ø 93 14
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