conference call q1 2012 - gea engineering for a better world group q1... · conference call q1 2012...

GEA Group

Düsseldorf, May 8, 2012

Conference Call Q1 2012

engineering for a better world

Disclaimer

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%.

Since Q1 2012, the segment, GEA Convenience-Food Technologies (GEA CT), is

renamed as GEA Food Solutions (GEA FS).

2 Conference Call Q1 2012 - May 8, 2012


Order Intake

EUR 1,545m Pages 5, 6, 7

GEA Group: +24% yoy, +3% qoq;

w/o GEA FS: +17% yoy; organic: +10% yoy

Sales*

EUR 1,264m Pages 5, 6, 31

GEA Group: +22% yoy;

w/o GEA FS: +17% yoy; organic: +13% yoy

Operating EBIT**

EUR 75m Pages 5, 6

GEA Group: +9% yoy;

w/o GEA FS: +22% yoy

Non-recurring items

GEA Food Solutions Page 19

EBIT impact: EUR -36m in Q1 2012

Sales impact: EUR -42m in Q1 2012

Outlook 2012 Pages 25, 26 Outlook order intake increased

Outlook sales and operating margin*

confirmed

Key Messages Q1 2012


Operating EBIT-

Margin** Pages 5, 6

GEA Group: 5.7%; -91 bps yoy

w/o GEA FS: 7.0%; +32 bps yoy

Book to Bill Ratio Pages 13, 14 GEA Group:

Q1 2012 : 1.22; L4Q: 1.04;

* GEA FS period sales diminished by one-time POC-related accounting adjustments of EUR 42m (P.19). Annual sales of GEA FS structurally lower by some

EUR 45m in 2012 after divestiture of CFS Kempten GmbH in Dec. 2011 ** Before PPA and non-recurring items of EUR 36m in Q1 2012 within GEA FS (P.19).


Agenda

4

January – March 2012

I. Key Figures

II. Performance

Backup

Performance GEA Group and Segments

Conference Call Q1 2012 - May 8, 2012

III. Outlook


1,242 1,502 1,545

Q1 2011 Q4 2011 Q1 2012

5

[in EUR million]

I. Key Figures GEA Group Q1 2012 YoY


Order Intake

+24%

( w/o FS: +17%)

1,038

1,632 1,264

Q1 2011 Q4 2011 Q1 2012

92

237

101

Q1 2011 Q4 2011 Q1 2012

69

207

75

Q1 2011 Q4 2011 Q1 2012

Sales*

+22%

( w/o FS: +17%)

Operating EBITDA**

+10%

( w/o FS: +18%)

Operating EBIT**

+9%

( w/o FS: +22%)




133 150

301 373

192 217

338 390

100

118 53

Q1 2011 Q1 2012

GEA FS

GEA FT

GEA HX

GEA ME

GEA PE

GEA RT

7.1 8.7

16.5 16.6

28.6 36.3

20.8

24.0 2.1

1.9

-9.4

Q1 2011 Q1 2012

GEA FT

GEA HX

GEA ME

GEA PE

GEA RT

6

153 178

402 511

219 239

376

406 126

148 97

Q1 2011 Q1 2012

GEA FS

GEA FT

GEA HX

GEA ME

GEA PE

GEA RT

Order Intake +24%

1,545 1,242

+22%

1,264 1,038

Operating EBIT**

+9%

74.9 69.0

I. Key Figures Segments Q1 2012 YoY

+9%

+8%

+27%

+17%

+13%

+15%

+24%

+13%

+27%

-9%

+16%

Some Highlights in Q1 2012:

Order Intake:

GEA FT: +18% yoy, highest quarterly order intake

since beginning of 2008

GEA PE: +27% yoy, highest quarterly order intake

since beginning of 2008

Operating EBIT*:

GEA FS: Non-recurring items of EUR 36m not

included in operating EBIT

GEA ME: Strong EBIT-Margin improvement of 184

bps leading to 16.8% EBIT-Margin

[in EUR million]

+18% +18%

+0%

+23%


( w/o FS: +17%) ( w/o FS: +17%)

( w/o FS: +22%)

Sales*




II. Performance Order Intake Q1 2012

7

∆ abs. ∆ in

%

∆ abs. ∆ in

%

Q1 2012 vs.

Q1 2011

Q1 2012 vs.

Q4 2011

Order Intake

previous period 1,242 1,502

Structural Change +149 +12.0% 0 0.0%

Currency Effects +25 +2.0% +31 +2.1%

Organic Development +128 +10.3% +12 +0.8%

Order Intake current

period 1,545 +24.4% 1,545 +2.9%

∆ abs. ∆ in %

∆ abs. ∆ in %

[in EUR million]



0 100 200 300 400 500 600

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

8

II. Performance Regional Order Intake Trend as of Q1 2012

0 400 800 1200 1600

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

GEA Group

0 100 200 300 400 500 600

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

0 100 200 300 400 500 600

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

0 100 200 300 400 500 600

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

0 100 200 300 400 500 600

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

0 100 200 300 400 500 600

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

0 100 200 300 400 500 600

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

[in EUR million]


Eastern Europe & CIS

Latin America Asia Pacific

Western Europe North America

Middle East

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

Africa

∆ QoQ: +11%

w/o FS: +11%

∆ YoY: +56%

w/o FS: +46%

∆ QoQ: -4%

w/o FS: -3%

∆ YoY: +46%

w/o FS: +36%

∆ QoQ: +55%

w/o FS: +59%

∆ YoY: +19%

w/o FS: +14%

∆ QoQ: -11%

w/o FS: -10%

∆ YoY: +39%

w/o FS: +25%

∆ QoQ: -10%

w/o FS: -8%

∆ YoY: +6%

w/o FS: +4%

∆ QoQ: -11%

w/o FS: -8%

∆ YoY: +46%

w/o FS: +23%

∆ QoQ: +14%

w/o FS: +18%

∆ YoY: +19%

w/o FS: +10%

∆ QoQ: +3%

w/o FS: +5%

∆ YoY: +24%

w/o FS: +16%


Climate &

Environment;

11%

Other

Industries;

4%

Chemicals; 6%

Pharma; 5%

Power;

11%

Oil & Gas; 7%

Food &

Beverage;

54%

Marine; 3%

60%

9%

22%

2% 1%

1% 5%

Africa

32%

19% 27%

4%

5%

10% 2%

Middle East

67%

14%

6%

3% 5%

1% 1% 3%

Latin America

52%

6%

15%

6%

8%

6% 3% 4%

Asia Pacific

53%

12%

2%

6%

3%

1%

16%

6%

Eastern Europe & CIS

50%

3% 9%

5%

4%

3%

21%

5%

Western Europe

9

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

63%

7%

8%

6%

9%

1% 5% 2%

North America

15% 10% 35%

7% 25%

3% 5%

Analysis including GEA FS. Due to rounding, the sum of percentages may vary from 100%.


100%

+ Δ OI yoy >= €50m

- Δ OI yoy <= €-50m

+

+ + +

+ +

-


748 738 704 662 673 739 777 767 812

877 905 991 954 916

1,012

140 165 123

140 156

203 210 185

220 211

214

231 228

241

275

134 110

128 59

105

52 88

95

69 82

178

178 161 183

129

91 60 80

101 76

16

93 106

146 72

63

63 60

162 130

0

200

400

600

800

1,000

1,200

1,400

1,600

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

Q2 11(incl.FS)

Q3 11 Q4 11 Q1 12

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

II. Performance Large Order Development since Q4 2008

10

[in EUR million]


1,600

1,400

1,200

1,000

Q1 2012 base orders (< EUR 1m): more than EUR 1bn; highest level since 2008


36% (39%)

22% (21%)

16% (14%)

10% (9%)

7% (6%)

5% (4%)

5% (6%)

Emerging markets*

exposure: 31% (32%) abs.: +21% YoY

(average of Dow Jones and MSCI

definition*)

Sales

Q1 2012:

EUR 1,264m +23% YoY

II. Performance Regional Sales Split Q1 2012 (Q1 2011)

11

Germany

11% (13%)

abs.: +5% YoY

USA

14% (13%) abs.: +38% YoY

China

9% (10%) abs.: +16% YoY

Top 3 Countries

Western Europe abs.: +11% YoY

Asia-Pacific abs.: +29% YoY

North America

abs.: +35% YoY

Latin America abs.: +31% YoY

Eastern Europe

& CIS abs.: +31% YoY

Middle East abs.: +55% YoY

Africa abs.: +3% 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.


27% 27%

11% 9%

12%

20% 6%

7%

9%

9%

5%

5%

6%

6%

4%

3%

15%

11%

6%

4%

Q1 2011 Q1 2012

Other Industries

Climate &EnvironmentMarine

Chemicals

Pharma

Power

Oil & Gas

Food - Solid

Food - Beverages

Food - Dairy

12

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

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

Δ+23%

Δ-3%

Δ+110%

Δ+2%

Δ+14%

Δ+36%

Δ+22% Δ+34%

Δ-15%

Δ-3%

+24%

1,242

1,545


( w/o FS: +17%)

60%

100%

140%

180%

220%

260%

Q409

Q110

Q210

Q310

Q410

Q111

Q211

Q311

Q411

Q112

Food - Dairy Food - Beverages

Food - Solid incl. GEA FS Food - Solid w/o GEA FS

GEA Group w/o GEA FS

60%

80%

100%

120%

140%

160%

Q409

Q110

Q210

Q310

Q410

Q111

Q211

Q311

Q411

Q112

Pharma Chemicals

Marine GEA Group w/o GEA FS

60%

80%

100%

120%

140%

160%

Q409

Q110

Q210

Q310

Q410

Q111

Q211

Q311

Q411

Q112

Oil & Gas Power

Climate & Environment GEA Group w/o GEA FS


Book to bill ratio

(L4Q)

Q1 2012

Food - Dairy 1.02 7.6% 1.06 2.1% 1.14 5.1% 1.28 2.3% 1.25 0.4% 0.63 0.5% 1.15 5.8% 1.09 23.9%

Food - Beverages 0.86 1.8% 1.11 1.6% 1.15 1.0% 1.02 1.5% 1.30 0.5% 0.74 0.2% 1.01 3.8% 1.01 10.4%

Food - Solid 1.05 8.0% 1.01 1.6% 1.19 3.3% 1.12 1.1% 1.06 1.2% 1.29 0.9% 1.21 3.2% 1.11 19.3%

Total Food 1.02 17.4% 1.06 5.3% 1.16 9.4% 1.15 4.9% 1.14 2.0% 0.90 1.6% 1.12 12.8% 1.08 53.5%

Oil & Gas 1.05 0.9% 1.76 1.2% 1.41 1.0% 1.13 1.0% 0.65 0.3% 1.07 0.9% 1.05 1.4% 1.16 6.8%

Power 0.90 3.0% 0.20 0.2% 1.32 1.1% 1.10 0.4% 0.35 0.7% 0.85 1.3% 2.29 3.8% 0.96 10.7%

Total Energy 0.93 3.9% 0.77 1.4% 1.36 2.2% 1.12 1.5% 0.41 1.1% 0.93 2.3% 1.74 5.2% 1.03 17.5%

Pharma 1.11 1.8% 2.01 0.6% 1.01 0.9% 1.56 0.2% 0.52 0.1% 0.67 0.2% 1.02 1.4% 1.09 5.2%

Chemicals 0.95 1.4% 1.11 0.3% 1.18 1.4% 1.23 0.4% 0.10 0.0% 1.09 0.2% 1.30 2.1% 1.11 5.9%

Marine 1.01 1.2% 1.34 0.1% 0.97 0.1% 1.18 0.1% 0.95 0.0% 0.57 0.0% 0.89 1.5% 0.96 3.0%

Climate & Environment 0.98 7.1% 0.93 1.6% 1.14 0.7% 0.44 0.1% 0.35 0.0% 0.91 0.5% 0.83 0.7% 0.95 10.8%

Other Industries 0.91 1.7% 1.19 0.6% 0.65 0.3% 0.95 0.2% 0.87 0.2% 0.87 0.1% 0.81 1.1% 0.89 4.1%

Other 0.98 13.3% 1.11 3.2% 1.05 3.4% 1.03 1.0% 0.49 0.3% 0.87 1.1% 0.99 6.8% 0.99 29.0%

Total 0.99 34.7% 1.02 10.0% 1.16 15.0% 1.13 7.4% 0.68 3.4% 0.91 4.9% 1.16 24.7% 1.04 100.0%

Asia - Pacific TotalWestern

Europe

Eastern

Europe & CIS

North

America

Latin America Africa Middle - East

II. Performance Book to Bill Ratios by Industry/Region L4Q


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

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

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


-

500.00

1000.00

1500.00

2000.00

2500.00

3000.00

3500.00

Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12

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

Order Intake Sales

3,000

2,500

2,000

1,500

1,000

500

0

3,500

14

II. Performance Top Line Trend / Order Backlog

2,164 2,301

2,469 2,424 2,414

2,667 2,771

2,936

[in EUR million]


2,312

2,677 2,756

L4Q BtB ratio

1,600

701

1,900

767

2,100

836

1.00 1.04 1.06 1.06 0.90 0.93 0.94 0.98 1.06 1.04 1.04

#


657

482

567 555 566

445

647 707 720

577

772

17.2%

16.4% 15.0%

13.9%

13.1% 12.4% 12.4% 12.4% 12.6% 12.6%

12.9%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

0

100

200

300

400

500

600

700

800

900

Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12

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

15

II. Performance Working Capital Development

[in EUR million]

- 430 bps



II. Performance Net Liquidity Reconciliation – Cash Flow Drivers


(386.8) December 31, 2011

Working Capital

CAPEX

March 31, 2012 (635.5)

(191.9)

(24.3)

64.9

Other

[in EUR million]

Net Debt

EBITDA

Interests / Taxes

(22.7) CAPEX

(27.5) Other

Net Debt before M&A and One-offs (588.3)

Net Debt

(19.0) Effects from Acquisitions

March 31, 2012

(19.5) Discontinued Operations

(8.7) Cash out Restructuring


229

n.a.

26

44

67

49 43

283

34 30

49

72

55

43

GEA Group GEA FS* GEA FT GEA HX GEA ME GEA PE GEA RT

2011 2012 Service business as % of sales

17

II. Performance Service Business

Growth in service sales Q1 2012 yoy: +24% to a total of EUR 283m

Share of service sales Q1 2012: 22.4% (Q1 2011: 22.1%)

%

[in EUR million]

26%

+24%

+16%

+1%

25%

22%

22%

36%* 13% 12%

35% 33%

16% 15% 32% 29%

[in EUR million]

+8%

+12% +10%


* Calculated without one-time POC-related accounting adjustments of EUR 42m (in the denominator) (P.19).

engineering for a better world 18

II. Performance GEA Food Solutions

Order Intake

Q1

2011

Q1

2012 ∆

(%)

n.a. 97.4 n.a.

thereof organic: n.a.

Sales*

Q1

2011

Q1

2012 ∆

(%)

n.a. 94.7 n.a.

thereof organic: n.a.

Operating EBIT

before PPA**

Q1

2012

Q1

2012 ∆

(%)

n.a. -9.4 n.a.

Operating EBIT Margin

before PPA** (%)

Q1

2012

Q1

2012 ∆

(bps)

n.a. -9.9 n.a.

[in EUR million]

Order Intake by Customer Industry Order Intake by Region

100%

Q1 2012

Food &Beverage

42%

17%

14%

9%

8%

6%

3%

Q1 2012

Africa

Latin America

Asia-Pacific

Middle-East

Eastern Europe& CIS

North America

Western Europe


** Before PPA and non-recurring items of EUR 36m.

=> Despite the operating loss in Q1 we are striving for a positive operating EBIT** in FY 2012.

* Normalized sales, before 42m POC-related accounting adjustments.

Structural impact 2012: divestiture of CFS Kempten in Dec. 2011 (45m p.a.)


II. Performance GEA Food Solutions


Reasons for operating loss in Q1/2012

• Weak order execution and quality issues leading to cost overruns

• Outsourcing initiative after plant closure (already planned before take-over by

GEA) led to supply-chain problems, hampering shipments and necessitating

expensive work-arounds

• Idle capacity in one plant currently

Sales EBIT bef. PPA

Reported Key Figures Q1 2012 EUR 53m EUR -45m

Thereof non-recurring items Q1 2012 EUR -42m EUR -36m

thereof POC-adjustments: EUR -42m EUR -21m

thereof other risk provisions: EUR -14m

Operating EBIT before PPA Q1 2012 EUR -9m


100%

100%

Q1 2011 Q1 2012

Food &Beverages

20

II. Performance GEA Farm Technologies

Order Intake

Q1

2011

Q1

2012 ∆

(%)

125.9 148.1 +17.7

thereof organic: +15.8

Sales

Q1

2011

Q1

2012 ∆

(%)

99.6 117.8 +18.3


Operating EBIT

before PPA

Q1

2011

Q1

2012 ∆

(%)

2.1 1.9 -8.8


before PPA (%)

Q1

2011

Q1

2012 ∆

(bps)

2.1 1.6 -49

[in EUR million]

47% 47%

32%

29%

7%

9%

8%

8%

5%

7%

Q1 2011 Q1 2012

Asia-Pacific

Eastern Europe& CIS

Latin America

North America

Western Europe


Δ+18%

Δ+18%

Δ+7%

Δ+58%

Δ+8%

Δ+41%



49% 46%

21% 20%

7% 14% 8%

9% 6%

5% 3%

3% 6%

2%

Q1 2011 Q1 2012

Latin America

Middle-East

Africa

North America

Eastern Europe& CIS

Asia-Pacific

Western Europe

37% 31%

27% 31%

12% 16%

10%

7% 4%

6% 5%

5% 5%

4%

Q1 2011 Q1 2012

Marine

Food

Chemicals

Other Industries

Oil & Gas

Power

Climate &Environment

21

II. Performance GEA Heat Exchangers

Order Intake

Q1

2011

Q1

2012 ∆

(%)

375.5 406.1 +8.2

thereof organic: -0.1

Sales

Q1

2011

Q1

2012 ∆

(%)

338.1 389.7 +15.3


Operating EBIT

before PPA

Q1

2011

Q1

2012 ∆

(%)

20.8 24.0 +15.6


before PPA (%)

Q1

2011

Q1

2012 ∆

(bps)

6.1 6.2 +2

[in EUR million]


Δ-9%

Δ+21%

Δ+43%

Δ-22%

Δ+66%

Δ+9%

Δ-10%

Δ+2%

Δ+1%

Δ+124%

Δ+21%

Δ-57%

Δ+10%

Δ-6%



II. Performance GEA Mechanical Equipment

Order Intake

Q1

2011

Q1

2012 ∆

(%)

219.2 238.7 +8.9


Sales

Q1

2011

Q1

2012 ∆

(%)

191.6 216.7 +13.1


Operating EBIT

before PPA

Q1

2011

Q1

2012 ∆

(%)

28.6 36.3 +27.0


before PPA (%)

Q1

2011

Q1

2012 ∆

(bps)

14.9 16.8 +184

[in EUR million]

55% 57%

16%

15% 6%

10% 6%

5% 6%

5% 5%

4% 4%

3% 2% 1%

Q1 2011 Q1 2012

Other Industries

Power

Pharma

Chemicals


Oil & Gas

Marine

Food


34% 31%

30% 27%

19% 22%

8% 8% 4%

6% 3%

4% 2%

2%

Q1 2011 Q1 2012

Africa

Eastern Europe& CIS

Middle-East

Latin America

North America

Asia-Pacific

WesternEurope

Δ+11%

Δ+1%

Δ+84%

Δ-10% Δ-12%

Δ-16%

Δ-17%

Δ+0%

Δ-4%

Δ+25%

Δ+8%

Δ+59%

Δ+36% Δ-11%

Conference Call Q1 2012 - May 8, 2012 22

Δ-57%


68%

70%

11%

13%

9%

8%

6%

7%

4%

3%

1 %

0%

Q1 2011 Q1 2012

Oil & Gas

Other Industries


Chemicals

Pharma

Food

23

II. Performance GEA Process Engineering

Order Intake

Q1

2011

Q

2012 ∆

(%)

401.5 511.3 +27.4


Sales

Q1

2011

Q1

2012 ∆

(%)

300.8 373.2 +24.1


Operating EBIT

before PPA

Q1

2011

Q1

2012 ∆

(%)

16.5 16.6 +0.2


before PPA (%)

Q1

2011

Q1

2012 ∆

(bps)

5.5 4.4 -106

[in EUR million]

47% 38%

23% 22%

9%

17% 4%

9%

11%

7%

4%

5%

3%

3%

Q1 2011 Q1 2012

Middle-East

Africa

Eastern Europe& CIS

Latin America

North America

Western Europe

Asia-Pacific


Δ+34%

Δ+45%

Δ+6%

Δ+38%

Δ-22 %

Δ+1%

Δ+25%

Δ+138%

Δ+175%

Δ-12%

Δ+62%

Δ+19%


Δ-74 %


II. Performance GEA Refrigeration Technologies

Order Intake

Q1

2011

Q1

2012 ∆

(%)

152.7 177.9 +16.5


Sales

Q1

2011

Q1

2012 ∆

(%)

132.8 149.5 +12.6


Operating EBIT

before PPA

Q1

2011

Q1

2012 ∆

(%)

7.1 8.7 +23.0


before PPA (%)

Q1

2011

Q1

2012 ∆

(bps)

5.3 5.8 +49

[in EUR million]

65% 62%

11%

11% 8%

10% 9%

9%

5%

4%

1 %

1%

1%

1%

Q1 2011 Q1 2012

Marine

Power


Oil & Gas

Chemicals

Other Industries

Food

42% 40%

17%

20%

13%

15% 12%

10% 10%

9% 6%

6%

Q1 2011 Q1 2012

Middle-East

Africa

Eastern Europe& CIS

North America

Asia-Pacific

Western Europe

Δ+11%

Δ+14%

Δ+16%

Δ-5%

Δ+52%

Δ+10%

Δ+36%

Δ+34%

Δ-9%

Δ+3%

Δ+8%



Δ+110%

Δ+27%


III. Outlook Key Figures FY 2012

25

an order intake growth: at least +5%

a sales growth: at least +5%

Operating EBIT-margin* bef. PPA at least on FY 2011 level of 9.7%*

incl. GEA FS:

For FY 2012 we aim at


* Before PPA and non-recurring items of EUR 36m in Q1 2012 within GEA FS.


III. Outlook Additional Financial Information for 2012

26

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

loss carry forwards:

Impact from PPA in 2012 and in around EUR 25m p.a.

subsequent years: thereof GEA FS around EUR 14m p.a.

Mid term target for Capex: around 2.0% of sales


Capex in FY 2012: up to 3.0% of sales due to special

projects in particular within GEA ME

Working Capital LTM: approx. 12% - 14% of sales LTM

Interest result: Interest rate for financial liabilities

(excl. pensions) below 4% p.a.


Investor Relations Calendar Upcoming Roadshows and Conferences


May 9 Roadshow Germany Frankfurt

May 9 Roadshow Sweden Stockholm

May 10 Roadshow Great Britain London

May 15 Conference Germany Frankfurt

May 22 Roadshow Germany Munich

May 24 Roadshow the Netherlands Amsterdam

May 30 Roadshow Austria Vienna

June 13-14 Conference USA Chicago

June 15 Conference Great Britain London

May 11 Roadshow France Paris


Financial Calendar


June 28-29, 2012 Capital Markets Day

July 30, 2012 Interim Report Q2 2012

October 29, 2012 Interim Report Q3 2012


Agenda


January – March 2012

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]


Q1 2012 vs.

Q1 2011

Q1 2012 vs.

Q4 2011

Sales previous

period 1,038 1,632

Structural Change +80 +7.7% 0 0.0%

Currency Effects +14 +1.4% +24 +1.5%

Organic Development +132 +12.7% -392 -24.0%

Sales current period 1,264 +21.7% 1,264 -22.5%

Backup: Performance GEA Group Sales Q1 2012

∆ abs. ∆ in %

∆ abs. ∆ in %


Trade

Receivables

Inven-

tories

Trade

Payables Advance

Payments

Working

Capital

[in EUR million]


Backup: Performance GEA Group Working Capital Development

708

743

805

1,108

1,357

1,323

612

903

677

557

620

680

647

577

772

Q1 2011

Q4 2011

Q1 2012

-34

-3%

+62

+8%

-226

-25%

+60

+10%

+195

+34%

+249

+23%

+35

+5%

+291

+48%

+63

+11%

-70

-11%


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 Food Solutions1) 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 Food Solutions1) 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 Food Solutions1) 91.8 99.1 98.5 104.8 394.2 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 & restructuring2)


GEA Food Solutions1) -4.5 7.0 9.4 7.6 19.5 -2.9 4.9 7.0 6.4 15.4


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 &

restructuring2)

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

GEA Food Solutions1) -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 Q4 11 2011 Q1 12

GEA Food Solutions1) 115.5 94.5 100.7 98.9 409.6 125.5 102.3 107.9 119.6 329.8 97.4

GEA Farm Technologies 101.1 116.1 115.0 116.3 448.5 125.9 129.5 140.3 131.7 527.4 148.1

GEA Heat Exchangers 304.4 398.3 404.1 399.2 1,506.0 375.5 445.6 369.8 462.3 1,653.2 406.1

GEA Mechanical Equipment 172.0 194.7 191.9 181.8 740.4 219.2 230.1 221.6 203.9 874.9 238.7

GEA Process Engineering 335.7 339.0 321.7 419.7 1,416.1 401.5 426.2 433.3 449.0 1,709.9 511.3

GEA Refrigeration Technologies 127.5 150.6 148.9 152.5 579.6 152.7 162.8 164.8 170.1 650.4 177.9

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 1,502.2 5,609.7 1,544.9

Order Backlog

[In EUR million] Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12

GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. 104.4 109.2 105.0 85.5 85.5 122.8


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 1,086.0 1,086.0 1,103.2


GEA Process Engineering 757.6 821.2 788.9 813.0 813.0 888.2 927.4 972.2 951.2 951.2 1,082.3


GEA Group 2,301.1 2,468.5 2,423.7 2,414.0 2,414.0 2,666.6 2,770.6 2,755.7 2,677.3 2,677.3 2,935.6

Sales

[in EUR million] Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12

GEA Food Solutions1) 101.0 99.8 93.1 103.7 397.6 112.9 103.3 112.1 130.6 346.0 52.7


GEA Heat Exchangers 340.9 370.8 361.6 410.1 1,483.4 338.1 390.9 424.2 463.6 1,616.8 389.7


GEA Process Engineering 256.9 298.5 330.9 402.2 1,288.5 300.8 385.1 394.7 496.6 1,577.2 373.2


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 1,632.2 5,416.5 1,263.7

EBITDA before PPA &

restructuring2)


GEA Food Solutions1) 13.5 10.3 5.5 6.8 36.2 6.2 6.2 8.0 12.0 26.2 -43.1


GEA Heat Exchangers 33.2 34.6 37.9 47.0 152.7 29.5 35.3 46.9 48.7 160.4 32.6


GEA Process Engineering 14.7 20.5 23.0 48.3 106.5 20.0 31.2 38.6 73.4 163.2 20.1


GEA Group 78.1 98.3 117.6 169.5 463.5 91.9 136.0 166.9 235.3 630.1 65.0

EBITDA-Margin before PPA &

restructuring2)

[in %] Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12

GEA Food Solutions1) 13.4% 10.3% 5.9% 6.6% 9.1% 5.5% 6.0% 7.1% 9.2% 7.6% -81.8%

GEA Farm Technologies 4.4% 5.7% 9.9% 12.0% 8.5% 5.0% 7.1% 10.8% 10.9% 8.9% 4.2%

GEA Heat Exchangers 9.7% 9.3% 10.5% 11.5% 10.3% 8.7% 9.0% 11.1% 10.5% 9.9% 8.4%

GEA Mechanical Equipment 15.8% 15.5% 19.5% 23.3% 18.8% 17.1% 21.5% 21.2% 24.1% 21.2% 18.6%

GEA Process Engineering 5.7% 6.9% 7.0% 12.0% 8.3% 6.6% 8.1% 9.8% 14.8% 10.3% 5.4%

GEA Refrigeration Technologies 3.2% 6.1% 6.6% 9.2% 6.6% 6.7% 8.7% 8.5% 12.4% 9.3% 7.3%

GEA Group 8.3% 9.2% 10.5% 13.1% 10.5% 8.9% 10.1% 11.9% 14.4% 11.6% 5.1%




EBIT before PPA & restructuring2)


GEA Food Solutions1) -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 &

restructuring2)

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

GEA Food Solutions1) -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 restructuring2)



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 goodwill3)

(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 goodwill4)

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 & restructuring2)


GEA Food Solutions1) 9.5 7.0 1.6 3.1 21.2 2.8 4.0 5.5 10.2 19.6 -45.1






GEA Group 54.4 73.6 94.5 144.3 366.8 69.0 110.0 139.9 205.6 524.6 39.2

EBIT-Margin before PPA &

restructuring2)

[in %] Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12

GEA Food Solutions1) 9.4% 7.0% 1.7% 3.0% 5.3% 2.5% 3.8% 4.9% 7.8% 5.7% -85.7%






GEA Group 5.8% 6.9% 8.4% 11.2% 8.3% 6.6% 8.2% 10.0% 12.6% 9.7% 3.1%

EBIT before restructuring2)


GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. n.a. -22.6 -0.2 6.8 -16.0 -48.5






GEA Group 52.3 71.4 92.3 139.7 355.8 66.8 79.7 131.4 196.7 474.6 32.8

Capital Employed w/o goodwill3)

(average LTM) [in EUR million] Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12

GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 529.5






GEA Group 1,780.9 1,750.3 1,738.4 1,739.9 1,739.9 1,796.3 1,949.7 2,128.3 2,314.2 2,314.2 2,462.7

ROCE w/o goodwill4)

LTM

[in%] Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12

GEA Food Solutions1) n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. -12.2%






GEA Group 18.5% 18.8% 19.3% 20.4% 20.4% 20.6% 19.4% 19.6% 20.5% 20.5% 17.9%


Backup: Performance GEA Group & Segments Key Figures Time Line (5/5): 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) Restructuring only in FY 2009 and FY 2010.

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

Metallgesellschaft AG in 1999.

4) ROCE LTM = EBIT before restructuring (LTM) / Capital employed (average LTM) excluding

goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in

1999.

Minor adjustments in 2011 results due to alteration in accounting methods.

conference call q1 2012 - gea engineering for a better world group q1... · conference call q1 2012...

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