FY/Q4 2019 Results Presentation - GEA engineering for a better … · 2020-07-21 · Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Order Intake Sales Solid order intake development in Q4 2019 GEA

FY/Q4 2019 Results Presentation

March 17, 2020

Stefan Klebert, CEO

Marcus Ketter, CFO

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%.

Disclaimer

GEA Q4 2019 Figures 22

1. Highlights 2019

2. Financials Q4 2019

3. Outlook FY 2020 and Key Priorities

33

2019 – year of strong progress

4GEA Q4 2019 Figures

We delivered what we promised

New organization and leadership team implemented

Restructuring process accelerated

Financial targets achieved or exceeded

Mid-term targets for 2022 defined and communicated

Set the grounds for long-term successful development

Execution of portfolio measures started

Guidance Achievement

Sales On prior year’s level (initial guidance: moderate decline)

€4,880m 1.1% growth YoY

EBITDA1 Between €450m and €490m €479m(incl. €41m non-recurring special effects)

ROCE1,2 Between 8.5% and 10.5% 10.6%

Financial achievements in 2019


1 Before restructuring measures; 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)

Proposing an unchanged dividend of €0.85 per share

Executive Summary FY 2019


1 Before restructuring measures; previous year: pro-forma figure incl. IFRS 16 effects; 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); previous year: pro-forma figure incl. IFRS 16 effects

€m 2019 2018 ∆ Order Intake and Sales slightly above prior years level

Order

Intake4,931 4,918 0.3%

Both Business Areas with Order Intake growth

Book-to-Bill ratio of 1.01x

Sales 4,880 4,828 1.1%Service sales growing stronger (5.6% YoY) than new machines

(-1.0% YoY)

EBITDA1 479.2 539.1 -11.1%Negative special effects of -€41m in FY 2019 and positive special

effects of €23m in FY 2018

EBIT1 271.4 309.1 -12.2%EBIT1 declined less pronounced compared to EBITDA1 due to lower

amount of impairments

Net

income-170.7 113.5 n.a.

Negative net income mainly due to restructuring charges of €105m

and the goodwill impairment at Pavan amounting to €248m

ROCE1,2 10.6% 11.6% -106bpsDecline due to a lower L4Q EBIT1; capital employed declined as well,

but less pronounced than L4Q EBIT1

1. Highlights 2019



7

1.2

35

1.1

86

1.1

47 1

.25

5 1.3

43

1.3

73

1.0

57

1.2

47

1.2

35 1.3

40

0 €m

200 €m

400 €m

600 €m

800 €m

1.000 €m

1.200 €m

1.400 €m

Q4 18 Q1 19 Q2 19 Q3 19 Q4 19

Order Intake Sales

Solid order intake development in Q4 2019


0.90 1.12 0.92 1.02 1.00

BtB

➢ Stable book-to-bill ratio of 1.00x

➢ Record Q4 order intake level

➢ Very solid base and medium-sized order intake development

➢ Order intake grew by 8.8% YoY

➢ Sales decline with 2.4% YoY less pronounced than expected

➢ New machines sales down by 4.6% YoY also due to a high

level in prior year’s Q4 – service sales up by 2.5% YoY

Service business remains a growth driver


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

➢ Record service sales volumes for both Business

Areas for a Q4

➢ Service sales grew by 2.5% YoY

➢ Revenue share in Q4 2019 of 32.7% vs. 31.1% in Q4

2018

➢ Growth at Business Area Equipment was driven by

Dairy Farming, Homogenization and Flow

Components

➢ FX and pricing supported growth in the quarter

269243 255 263 276

171

117

153 148

177

428

346

394 396

438

0 €m

100 €m

200 €m

300 €m

400 €m

500 €m

Q4 18 Q1 19 Q2 19 Q3 19 Q4 19

BA Equipment BA Solutions

15

7

75

11

1

14

3 15

0

97

27

57

94

93

12,3%

12,0%

10,5%10,5%

10,6%

9,5%

10,0%

10,5%

11,0%

11,5%

12,0%

12,5%

0 €m

20 €m

40 €m

60 €m

80 €m

100 €m

120 €m

140 €m

160 €m

180 €m

Q4 18 Q1 19 Q2 19 Q3 19 Q4 19

EBITDA EBIT ROCE

ROCE increased sequentially driven by net working capital improvements and goodwill impairment


➢ Accounting change IFRS 16 from Q1 2019 onwards

➢ Q4 2019 EBITDA1 down due to special effects of -€16m

despite positive IFRS 16 impact of €18m

➢ Decline in EBIT1 was less pronounced than EBITDA1

due to lower PPA effects compared to prior years Q4

➢ ROCE1,2 declined YoY due to a lower EBIT1 and a

higher capital employed figure but improved slightly

compared to the prior quarter

➢ The slight QoQ improvement is entirely mainly due to a

lower capital employed2

➢ Capital employed2 declined QoQ due to an

improvement of net working capital as well as the

goodwill impairment at Pavan in Q4

Change in IFRS 16

accounting

1 Before restructuring measures; 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

FY 2019 profitability impacted by special effects in the amount of €41m


67

27

19

479

EBITDA PY incl.

IFRS 16 (YTD)

-10539

EBITDA 2019Volume

472

-11

Margin R & D

-32

SG&A

-53

Other FX and delta DA

Expenses highlighted in bold letters are extraordinary effects amounting to -€64m.

Thereof related to 2018: -€23m Thereof related to 2019: -€41m

BA-E

• -€3m New Machines

• +€33m Service

BA-S


• +€8m Service

BA-E


• +€2m Service

• +€5m carry-down on inventory 2018

BA-S

• -€17m New Machines (-€21m backlog review BA-S)

• +€10m Service

R&D expenses

• -€10m personnel expenses

SG&A

• -€44m personnel expenses

• +€13m other SG&A

• +€2m Add./Rel. of provision OGF (in 2018)

• -€3m Legal case

Other

• -€24m release of provision (in 2018)

• -€20m legal cases

• +€3m Add/Release bad debt

provision

• -€2m Sale of assets (in 2018)

• +€2m Add./Rel. of provision OGF

FX impacts

• BA-E +€9m

• BA-S +€8m

• RoC/GCC +€2m

Delta D&A (total)

• -€1m total delta D&A

(without IFRS 16-effect)

FX impacts (alternative split)

• +€5m FX translation

• +€15m FX transaction

IFRS 16 effect

➢ Net working capital stood at the end of Q4 19 at €682m or

14.0% of L4Q sales

➢ Net working capital is now at the upper end of the

targeted corridor outlined at the capital markets day in

September 2019 of 12% to 14%

➢ Net Working Capital remained flat YoY at Business Area

Equipment but improved at Business Area Solutions

Net working capital shows first improvements and is already at the upper end of the targeted range


747

833

906941

682

15,5%

17,2%

18,6%19,2%

14,0%

0%

5%

10%

15%

20%

25%

0€m

200€m

400€m

600€m

800€m

1.000€m

1.200€m

Q4 18 Q1 19 Q2 19 Q3 19 Q4 19

NWC as of reporting date

NWC as of reporting date as % of sales (L4Q)

Net debt turned into net cash driven by strong operating cash flow in Q4 2019

13

Cash Flow from Operations

• Net working capital improvement resulting from

inventory (€168m), payables (€132m) while

receivables increased (€51)

• Restructuring related cash outflow of €13m for

projects which were initiated earlier in the year

• Others include pension related outflows of €9m

and the net effect from divestments of €16m

Net Cash flow

• Capex of €59m include outflows for software

licenses of €16m

• IFRS 16 payments of €16m

• Others: incl. €7m proceeds from asset

disposals

Net financial debt

• FX -€3m relates to the effect on cash from

currency fluctuations

• Other €9m mainly includes in- and outflows

from IC-financing of non-consolidated

companies

Free Cash Flow Q4 [€m]

Net financial debt Q3 19 vs. Q4 19 [€m]

GEA Q4 2019 Figures

-263

28-2

Net debt Q3 19 DOP

287

Net Cash Flow

-3

F/X impacts

9

Other Net cash Q4 19

150

372

308

287

250

EBITDA

before

Restructuring

-13 15

Delta

NWC

-5

Free

Cash

Flow

-30

Taxes Cash-out

Restructuring

Others Operating

Cash flow

Net Cash

Flow

-59

Capex InterestCapex

Restructuring

-3

Others

-16

IFRS 16

payments

-2

Maturities [€m]

* Utilization includes accrued interest and commitment fees

** Total net debt / cons. EBITDA based on frozen GAAP (covenant concept)

*** According to Moody’s consideration (2,9x in December 2019 as of September 2019)

GEA is solidly funded on a diversified financing structure

14

* Including uncommitted lines and credit lines < 1 Year.

** From the €150m EIB €100m will be lapsed in 2020 if not utilized

Left side: committed

Right side: utilization

Rating

GEA Q4 2019 Figures

10

0 26

650

128 1281

22

12

2

84

20225

0

2019 2020 2025

172

2021 20242023

50

184 172

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

Committed Utilized ∆ Dec Dec FY

€m Dec 19 Dec 19 FY 2018 €m 2019A 2018A 2018A

Borrower's note loan (2023) 128 128 128 Equity 2.090 2.449 2.449

Borrower's note loan (2025) 122 122 122 Leverage** (Covenant 3x) -0,1x 0,2x 0,2x

European Investment Bank 150 50 50 Leverage*** (Rating) 2,9x 2,3x 2,3x

Other bilateral credit lines 84 26 20 Financial Headroom l 750 750 750

Syndicated credit lines 650 - - Cash and Cash Equivalents 355 248 248

Total* 1.134 326 320 Net Liquidity (+) / Net Debt (-) 28 -72 -72

Agency Rating Outlook Last update

Moody's Baa2 negative February 20, 2020

Fitch BBB negative June 19, 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

• Diversified mix of international and national banking partners providing the main

credit lines

• Evergreens: Includes uncommitted lines that are shown to the extent of their

utilization and are extended if needed

• EIB: Call-off term in mid 2020; maybe utilization in 2020, whereby maximum

maturity would extend up to 2027

1. Highlights 2019



15

• While the situation in China apparently eased

within recent weeks, we anticipate further

impacts through COVID-19 in other regions,

especially in Europe and the US

• Direct and indirect economic implications can

not reasonably be forecasted as of today

• We still anticipate effects on global Supply

Chains and workforces

• After GEA has been affected by the official

shutdown of entire regions in China, all sites

resumed to work as per government

permissions

• Since then all GEA sites are running

• No significant impact on Supply Chain expected

and mitigation efforts are in place

• Guidance reflects the development as of 12

March 2020

• jdhjdhdjh

Potential impacts and risks Current situation @ GEA

Global task force implemented to mitigate Covid-19 impact


GEA has implemented in January a global task force

which meets daily to react adequately

Guidance FY 2020

GEA Q4 2019 Figures

EBITDA(before restructuring measures)

ROCE(before restructuring measures)

Revenue

Slightly below prior year

(EUR 4,880m)

between

EUR 430 and 480m

between

9.0% and 11.0%

1717

Key Priorities 2020


Further restoring credibility in capital markets

Managing the impact of Covid-19 internally and on our business

Realizing savings from new global procurement and supply chain organization

Concluding announced headcount reduction by the remaining 400 FTE

Continuing to increase operational efficiency

Divesting earmarked low-margin business

Roadmap for 2020


FY 2019

March 17

2020

Divisional

Strategy Day

29 June 2020

LondonQ1 2020

May 15

2020

Q2 2020

August 12

2020

AGM

April 30

2020

Q3 2020

November 5

2020

Appendix

20

23%

20%

7%18%

14%

17%

Sales by Customer

Industry12%

18%

30%

12%

13%

15%

GEA – Q4 2019 figures

GEA Q4 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 SizeOrder Intake and Sales (L4Q)

Sales by Region

Dairy Farming 0% YoY

Dairy Processing 6% YoY

Food -4% YoY

Beverages 10% YoY

Pharma/Chemical -5% YoY

Other Industries 10% YoY

GEA 1% YoY

Sales L4Q

as of Q4 19

EUR 4,880m

Sales L4Q

as of Q4 19

EUR 4,880m

Asia-Pacific 4% YoY 3% adj. YoY

DACH & Eastern Europe -4% YoY -4% adj. YoY

Latin America 5% YoY 9% adj. YoY

North America 3% YoY -2% adj. YoY

Northern/Central Europe 6% YoY 6% adj. YoY

Western Europe, M. East & Africa -4% YoY -4% adj. YoY

GEA 1% YoY 0% adj. YoY

4.000 €m

4.500 €m

5.000 €m

5.500 €m

Q4 16 Q4 17 Q4 18 Q4 19

Order Intake Sales

812 758 788 729850 853 802 748 791 802 811 792 825

221211 228

185

270 218 281210

260 219 238 192258

79116 89

107

12232

180

16076 127 80 148

10611150

136

35

75

0

120

79 107 38 18122

1541.223

1.1361.241

1.057

1.317

1.103

1.383

1.197 1.2351.186 1.147

1.2551.343

0€m

200€m

400€m

600€m

800€m

1.000€m

1.200€m

1.400€m

Q4 16 Q4 17 Q4 18 Q4 19

< €1m >= €1m < €5m >= €5m < €15m >= €15m

[ in EU R mill ion] Q4 18 Q4 19 ∆ Y oY L4 Q Q4 18 L4 Q Q4 19 ∆ Y oY

Order Int ake 8.8% 0.3%

Organic1

7.8% -0.6%

Sales -2.4% 1.1%

Organic1

-3.4% 0.1%

Order B acklog 2,416.3 2 ,4 12 .4 -0.2% 2,416.3 2 ,4 12 .4 -0.2%

EB ITD A2

175.2 150 .3 -14.2% 539.1 4 79 .2 -11.1%

EB ITD A M arg in2

12.8% 11.2 % -155 bps 11.2% 9 .8 % -134 bps

EB IT2

97.3 9 3 .3 -4.1% 309.1 2 71.4 -12.2%

EB IT M arg in2

7.1% 7.0 % -13 bps 6.4% 5.6 % -84 bps

R OC E3 11.6% 10 .6 % -106 bps 11.6% 10 .6 % -106 bps

1,235.0 1,3 4 3 .3 4,917.7 4 ,9 3 1.1

1,372.9 1,3 4 0 .4 4,828.2 4 ,8 79 .7

21

Sales by Customer

Industry25%

10%

35%

6%

8%

17%

BA Equipment – Q4 2019 figures

GEA Q4 2019 Figures


Sales by Region

Dairy Farming 0% YoY


Food 1% YoY

Beverages 4% YoY

Pharma/Chemical 2% YoY


BA Equipment 2% YoY

Sales L4Q

as of Q4 19

EUR 2,682m

Asia-Pacific 17% YoY 15% adj. YoY

DACH & Eastern Europe 1% YoY 1% adj. YoY


North America -2% YoY -7% adj. YoY

Northern/Central Europe -3% YoY -2% adj. YoY


BA Equipment 2% YoY 1% adj. YoY

21%

23%

7%20%

13%

17%

Sales L4Q

as of Q4 19

EUR 2,682m

2.000 €m

2.200 €m

2.400 €m

2.600 €m

2.800 €m

3.000 €m

3.200 €m

3.400 €m

Q4 16 Q4 17 Q4 18 Q4 19

Order Intake Sales

556 550 566 538595 633 585 536

590 594 585 580 604

42 53 3640

4960

5681

32 73 69 4071

0 19 2027

948

6 516 6

190598 622 622

577

671701 688

624 649683 660 672 674

0€m

100€m

200€m

300€m

400€m

500€m

600€m

700€m

800€m

Q4 16 Q4 17 Q4 18 Q4 19

< €1m >= €1m < €5m >= €5m < €15m >= €15m



Organic1

3.5% 0.4%

Sales -1.0% 2.1%

Organic1

-1.8% 1.3%

Order B acklog 793.5 76 9 .6 -3.0% 793.5 76 9 .6 -3.0%

EB ITD A2

130.0 112 .3 -13.6% 416.9 3 8 7.2 -7.1%

EB ITD A M arg in2

17.8% 15.5% -226 bps 15.9% 14 .4 % -143 bps

EB IT2

81.2 8 6 .6 6.6% 275.4 2 71.0 -1.6%

EB IT M arg in2

11.1% 12 .0 % 86 bps 10.5% 10 .1% -38 bps

R OC E3 14.7% 14 .9 % 23 bps 14.7% 14 .9 % 23 bps

648.9 6 74 .5 2,662.4 2 ,6 9 0 .3

2,627.6 2 ,6 8 2 .2731.7 72 4 .2

22



BA Solutions – Q4 2019 figures

GEA Q4 2019 Figures

Sales by Customer

Industry


Sales by Region


Food -10% YoY

Beverages 12% YoY

Pharma/Chemical -8% YoY


BA Solutions 1% YoY

26%

24%18%

19%

13%

Asia-Pacific -2% YoY -3% adj. YoY

DACH & Eastern Europe -8% YoY -9% adj. YoY


North America 9% YoY 4% adj. YoY

Northern/Central Europe 14% YoY 14% adj. YoY


BA Solutions 1% YoY 0% adj. YoY

26%

18%

8%15%

17%

17%

Sales L4Q

as of Q4 19

EUR 2,463m

Sales L4Q

as of Q4 19

EUR 2,463m

2.000 €m

2.200 €m

2.400 €m

2.600 €m

2.800 €m

3.000 €m

3.200 €m

3.400 €m

Q4 16 Q4 17 Q4 18 Q4 19

Order Intake Sales

316258 274 242

326 281 278 267 269 278 297 279 275

179

158192

146

221

158225

129229

146169

152 187

79

9770

108

95

23

132

15371

111 74 129 106

111

50

136

35

75

0

120

79 8538 18

105154

685

564

672

531

717

462

755

628654

573 557

665722

0€m

100€m

200€m

300€m

400€m

500€m

600€m

700€m

800€m

Q4 16 Q4 17 Q4 18 Q4 19

< €1m >= €1m < €5m >= €5m < €15m >= €15m

23



Organic1

8.9% -0.4%

Sales -2.6% 0.9%

Organic1

-3.8% -0.2%

Order B acklog 1,687.2 1,716 .2 1.7% 1,687.2 1,716 .2 1.7%

EB ITD A2

59.6 54 .8 -8.0% 152.4 13 2 .7 -12.9%

EB ITD A M arg in2

8.4% 8 .0 % -47 bps 6.2% 5.4 % -85 bps

EB IT2

33.0 3 3 .2 0.7% 78.4 6 2 .0 -20.9%

EB IT M arg in2

4.7% 4 .8 % 16 bps 3.2% 2 .5% -69 bps

R OC E3 10.4% 8 .8 % -167 bps 10.4% 8 .8 % -167 bps

654.1 72 2 .0 2,499.1 2 ,517.4

2 ,4 6 2 .52,441.16 8 7.1705.7



Order intake Q4 2019


in EURm ∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in %

Order Intake

previous period

Structural Change 0 0.0% 0 0.0% 0 0.0% 0 0.0%

Currency Translation 12 1.0% 2 0.2% 43 0.9% 43 0.9%

Like-for-Like Development 96 7.8% 86 6.9% -30 -0.6% -30 -0.6%

Order Intake

current period

Q4 19 vs. Q4 18 Q4 19 vs. Q3 19Q1 - Q4 19 vs. Q1 -

Q4 18

L4Q Q4 19 vs. L4Q

Q4 18

1,235 1,255 4,918 4,918

4,931 0.3%1,343 8.8% 1,343 7.1% 4,931 0.3%

Sales Q4 2019

GEA Q4 2019 Figures

in EURm ∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in %

Sales

previous period

Structural Change 0 0.0% 0 0.0% 0 0.0% 0 0.0%

Currency Translation 14 1.0% 2 0.2% 46 1.0% 46 1.0%

Like-for-Like Development -46 -3.4% 103 8.4% 5 0.1% 5 0.1%

Sales

current period

Q4 19 vs. Q4 18 Q4 19 vs. Q3 19Q1 - Q4 19 vs. Q1 -

Q4 18

L4Q Q4 19 vs. L4Q

Q4 18

4,828

1,340 -2.4% 1,340 8.6% 4,880 1.1% 4,880 1.1%

1,373 1,235 4,828

25

Reported order intake development YoY/QoQ as of Q4 2019

GEA Q4 2019 Figures

Q4 19 L4Q Share of order intake BtB

QoQ YoY YoY Q4 19 L4Q L4Q

Dairy Farming 12% 0.98

Dairy Processing 16% 0.92

Food 30% 1.03

Beverages 14% 1.23

Food & Beverages 73% 1.03

Pharma 6% 0.86

Chemical 6% 1.00

Pharma/Chemical 12% 0.93

Oil & Gas 2% 1.18

Marine 2% 1.02

Others 11% 0.99

Other Industries 15% 1.01

GEA 100% 1.01

Q4 19 Quarter selective

Less than -5% Between -5% and -1% Between -1% and 1% Between 1% and 5% More than 5%

26

L4Q order intake and sales indexedQ2 2012 to Q4 2019 per customer industry

Ord

er

Inta

ke

Sa

les


Dairy Farming 0%

Dairy Processing -1%

GEA 2%

CAGR Q2 12 - Q4 19

60%

80%

100%

120%

140%

160%Food 4%

Beverages 3%

GEA 2%

CAGR Q2 12 - Q4 19

Pharma/Chemical 1%

Other Industries 2%

GEA 2%

CAGR Q2 12 - Q4 19

Dairy Farming 2%

Dairy Processing 1%

GEA 3%

CAGR Q2 12 - Q4 19

60%

80%

100%

120%

140%

160%Food 6%

Beverages 0%

GEA 3%

CAGR Q2 12 - Q4 19

Pharma/Chemical 3%

Other Industries 2%

GEA 3%

CAGR Q2 12 - Q4 19

Order intake split as of Q4 2019 L4Q: Top 30 countries account for 84% of order intake


USA 15% 0.99

Germany 9% 0.99

France 4% 1.03

Netherlands 4% 1.06

Great Britain 3% 0.88

Spain 3% 1.07

Italy 3% 1.07

Canada 2% 1.00

Belgium 2% 0.88

Ireland 2% 0.86

New Zealand 2% 1.29

Japan 2% 0.83

Switzerland 1% 1.35

Denmark 1% 1.08

Australia 1% 0.76

share Delta LTM % BtBTop DM Countries

More than 5%

Betw een 1% and 5%

Betw een -1% and 1%

Betw een -5% and -1%

Less than -5%

China 9% 1.04

Russia 4% 1.00

Brazil 3% 1.26

Poland 2% 1.21

India 2% 0.81

Mexico 1% 0.79

Indonesia 1% 1.00

Vietnam 1% 1.55

South Africa 1% 0.86

Thailand 1% 1.08

Philippines 1% 0.85

Turkey 1% 0.86

Uruguay 1% 2.97

Malaysia 1% 1.90

Argentina 1% 1.01

share Delta LTM % BtBTop EM Countries

Additional financial information for FY 2020

GEA Q4 2019 Figures

Thereof impact

from PPA (€m)

around

30

Capex before

restructuring

(of sales)

ca. 3.0%

Tax Rate

around

25%

29

Depreciation&

Amortization (incl.

PPA, IFRS 16) (€m)

around

200

Guidance FY 2020by division


€m

Expectations

for 2020

(pro forma)

2019

Expectations

for 2020

(pro forma)

2019

Separation & Flow Technologies slightly declining 1,238 slightly declining 247

Liquid & Powder Technologies slightly declining 1,729 significantly rising 87

Food & Healthcare Technologies slightly declining 963 slightly declining 67

Refrigeration Technologies slightly declining 705 slightly declining 58

Farm Technologies slightly declining 656 slightly declining 60

Others - -2

Consolidation - -411 significantly declining -39

Sales1 EBITDA before restructuring2

1 For sales, slight” indicates a change of up to +/- 5%, w hile a change of more than +/- 5% is referred to as “signif icant”.2 For earnings f igures, “slight” indicates a change of up to +/- 10%, w hile a change of more than +/- 10% is deemed “signif icant“.

Pro Forma Q4 2018 EBITDA and EBIT before restructuring


* In the fiscal year 2018, adjustments were made to the initial purchase price allocation for the Pavan acquisition within the inventories.

Consequently a higher carrying amount results in a higher consumption of inventory recognized in cost of sales.

*€m

Q4 18op. EBITDA

Pro Forma

IFRS 16

Pro Forma

op. EBITDA

Strategic

ProjectsPPA

Pro Forma

EBITDA bef. Restr.

GEA AG 181,1 17,8 198,9 19,8 3,9 175,2

BAE 127,1 8,1 135,3 1,4 3,8 130,0

BAS 52,3 7,9 60,2 0,6 0,0 59,6

Other/GCC 1,7 1,8 3,4 17,8 0,0 -14,4

€m

Q4 18op. EBIT

Pro Forma

IFRS 16

Pro Forma

op. EBIT

Strategic

ProjectsPPA

Pro Forma

EBIT bef. Restr.

GEA AG 152,7 0,0 152,7 19,8 35,5 97,3

BAE 108,3 -0,2 108,0 1,4 25,4 81,2

BAS 44,3 -0,4 43,9 0,6 10,3 33,0

Other/GCC 0,1 0,7 0,8 17,8 -0,1 -16,9

FX Development


EUR 46% - -

USD 16% 1.12 -5%

CNY 7% 7.74 -1%

DKK 4% 7.47 0%

GBP 4% 0.88 -1%

RUB 3% 72.46 -2%

SGD 2% 1.53 -4%

CAD 2% 1.49 -3%

BRL 2% 4.41 2%

PLN 2% 4.30 1%

INR 2% 78.84 -2%

∆ FX YoY Dec 2019 vs

Dec 2018Currency % total L4Q

FX Rates Dec Q4

(average)

*Share of functional (i.e. local P&Ls) currencies in the translation mix of the group

32

gea.com

Documents

FY/Q4 2019 Results Presentation - GEA engineering for a better … · 2020-07-21 · Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Order Intake Sales Solid order intake development in Q4 2019 GEA