Q2 2020 Results - GEA engineering for a better world · GEA Q2 2020 Figures 7 COVID-19: GEA is well...

Q2 2020 Results

Stefan Klebert, CEO

Marcus A. Ketter, CFO

DÜSSELDORF, AUGUST 12, 2020

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 Q2 2020 Figures 2

3GEA Q2 2020 Figures

Highlights Q2 2020

Stefan Klebert, CEO

GEA with significant earnings growth in Q2 20 despite COVID-19 related decrease of order intake and sales


€m

Order Intake

Sales

EBITDA1

EBITDA Margin1

EBIT1

ROCE1,2

Net debt

Q2 20

1,034

1,165

140.4

12.1%

93.4

14.8%

-92

Q2 19

1,147

1,247

111.2

8.9%

57.5

10.5%

330

∆

-9.8%

-6.6%

26.2%

314bp

62.5%

428bp

-421 €m

COVID-19 impacting order intake

Book-to-bill of 0.89x vs. 0.92x in Q2 19

Also sales is impacted by COVID-19 whereas service sales

developed more robust than new machines

Better gross profit, cost cutting and some windfall profits

Net relief from special items YoY of €12m

Stronger improvement compared to EBITDA1 as D&A declined

slightly YoY

Substantial increase based on significant improvement of

both, EBIT1 and Capital Employed

Net debt of €330m turned into net cash position of €92m

1 before restructuring; 2 L4Q

5

GEA with professional crisis management during COVID-19

GEA Q2 2020 Figures

• Crisis Management Team and Taskforce installed at an

early stage

• Early measures taken for workplace safety, e.g. hygiene

standards, canteen closures

• Dashboard implemented with all relevant KPIs

• Remote Service Tool launched

• Supply chain issues managed smoothly

• Liquidity initiative launched with focus on accounts

receivable, expense management and reduction of NWC

• Proactive savings measures implemented

• Numerous local donation initiatives supported

Solid development in H1

despite challenging environment

Production almost unaffected by COVID-19(total uptime production sites)


0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20

Uptime is defined as % of total available factory working hours (already deducted by holidays, sick leave, etc.)


COVID-19: GEA is well prepared in case of a second wave

• Safety of employees: Pandemic emergency plans, tools

to work remotely and protection equipment are in place

• Supply chain: Tool allowing visibility on major suppliers

material and distribution situation

• Production: Clear safety procedures and processes to

keep production sites operating

• Service: Remote access support tool

• Finance: Liquidity Office established, ready to continue

cost cutting measures

Measures in place to

secure business continuity


Business & Financial Review Q2 2020


GEA Group: Strong EBITDA1 growth despite COVID-19 related top-line decline


Order intake declined by 9.8% YoY

(adj. -8.0%)

• Order intake was mostly impacted by declining

medium sized orders (>€5m, <€15m) and

orders below €1m

• Book-to-bill ratio almost stable (0.89x vs 0.92x

in Q2 19)

Sales fell by 6.6% YoY (adj. -5.2%)

• Global travel restrictions due to COVID-19

impacted order execution

• Service sales only down by 3.3% and share

of total sales increased to 32.7% (vs. 31.6%

in Q2 19)

EBITDA1 margin increased to 12.1% from 8.9%

• Improvement of gross profit

• Lower overhead costs from cost savings

initiatives and windfall profits from COVID-19

• Q2 19 EBITDA1 included a burden of special

items of €21m; Q2 20 included a burden of

€9m1 before restructuring measures

1,147 1,255 1,343 1,377

1,034

0 €m

500 €m

1,000 €m

1,500 €m

Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

Order Intake

1,247 1,235 1,3401,094 1,165

0 €m

500 €m

1,000 €m

1,500 €m

Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

Sales

111143 150

105140

0 €m

100 €m

200 €m

Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

EBITDA1

Very solid EBITDA1 development in Q2 20 despite negative top-line impact from COVID-19


€m

32

4

7

4

7

FXEBITDA1

Q2 19

Volume

-12

Margin R&D SG&A Other

-7

EBITDA1

Q2 20

140

Special Items FX

-11

111

∆ +€29m

∑ ∆ +€24m

∆ -€5m

FX:

-€3m Translational

-€5m Transactional

Special items:

Q2 20: -€9m

Q2 19: -€21m

+€34m New

Machines

-€1m Service

Special items:

Q2 20: -

Q2 19: -€16m

Special items:

Q2 20: -

Q2 19: +€9m

Special items:

Q2 20: -€9m

Q2 19: -€14m

-€9m New

Machines

-€2m Service

Separation & Flow Technologies: Sales and EBITDA increase despite COVID-19 impact


Order intake down by 11.1% YoY (adj. -9.8%)

• Decline mostly driven by the customer

industries Oil & Gas and Marine and less

pronounced by Dairy Processing and Food

• Pharma and Chemical with higher order

intake

Sales growth of 4.0% YoY (adj. 5.4%)

• Sales increase was driven by a strong

development in the customer industry Food

• Service sales grew by 1.5% which resulted in

a sales share of 40.3% vs. 41.3% in Q2 19

EBITDA1 margin rose to 20.4% from 15.3%

• The improvement was predominantly driven

by a strong growth of gross profit

• Q2 19 EBITDA1 was burdened by €9m

special items, Q2 20 burdened by only €1m

1 before restructuring measures

323 325 310 332288

0 €m

200 €m

400 €m

Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

Order Intake

301 324 340278 313

0 €m

200 €m

400 €m

Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

Sales

46

74 6960 64

0 €m

50 €m

100 €m

Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

EBITDA1

Liquid & Powder Technologies: Substantial EBITDA increase despite COVID-19 taking a toll only on order intake and sales


Order intake declined by 8.4% YoY (adj. -6.6%)

• Decline mostly driven by BUs Beverage & Filling,

Powder and Liquid, BU Chemical was up

• Impact from travel restrictions and order

postponements

Sales fell by 5.1% YoY (adj. -4.3%)

• Execution was impacted by travel

restrictions related to COVID-19

• Service sales declined by 6.7% and account

now for 22.0% of sales (vs. 22.4% in Q2 19)


• Improvement driven by better gross profit

and lower overhead costs

• Q2 19 EBITDA1 was burdened by €10m

special items, Q2 20 burdened by only €2m


365

505 549 566

335

0 €m

200 €m

400 €m

600 €m

Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

Order Intake

445 438 484385 423

0 €m

200 €m

400 €m

600 €m

Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

Sales

25 3040

8

37

0 €m

20 €m

40 €m

60 €m

Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

EBITDA1

Food & Healthcare Technologies: Strong EBITDA growth despite Italian legal entities being particularly affected by COVID-19


Order intake down by 13.5% YoY (adj. -13.4%)

• Weaker orders in the BUs Bakery and Food

Solutions as well as Slicing & Packaging

• Good growth in Pharma & Healthcare

Sales declined by 5.8% YoY (adj. -5.6%)

• Especially those BUs with a high exposure to

Northern Italy (Pasta and Bakery) were

impacted by travel restrictions

• Service sales declined less by only 3.9% and

account now for 24.2% of sales (vs. 23.7% in

Q2 19)


• Improvement resulted from better gross profit

and lower overhead costs

• Q2 19 EBITDA1 was burdened by €8m special

items, Q2 20 burdened by only €2m


222 210244 222

192

0 €m

100 €m

200 €m

300 €m

Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

Order Intake

252 232 256213 237

0 €m

100 €m

200 €m

300 €m

Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

Sales

1216

1916

22

0 €m

10 €m

20 €m

30 €m

Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

EBITDA1

Farm Technologies: Solid order intake and good EBITDA1

despite COVID-19


Order intake down by 1.2% YoY (adj. +2.3%)

• Delays in the decision making process of

customers due to the uncertainty regarding the

future development of milk prices

• Travel restrictions are an obstacle to visit dealers

and farmers


• Some delays in deliveries due to lockdowns

• Lower YoY backlog at the beginning of Q2 20

• Service sales almost stable and now account

for 46.8% of sales (vs. 42.5% in Q2 19)


• Gross profit improvements mainly due to

better new machines margin

• Lower overhead costs due to cost savings

initiatives implemented earlier but also from

some windfall profits related to COVID-19


items1 before restructuring measures

158 156 165 177156

0 €m

100 €m

200 €m

Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

Order Intake

160 171 182141 145

0 €m

100 €m

200 €m

Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

Sales

1319 22

1115

0 €m

10 €m

20 €m

30 €m

Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

EBITDA1

Refrigeration Technologies: Top-line decline but stable margin development


Order intake decline of 30.0% YoY

(adj. -27.6%)

• COVID-19 related delays in the decision

making process of customers

• Orders declined in those regions which were

hit hardest by COVID-19 (e.g. Italy)


• COVID-19 related temporary closures of our

production sites caused delays in the

execution of orders

• Service sales declined by 9.5% and account

now for 35.8% of sales (vs. 34.3% in Q2 19)

EBITDA1 margin stable at 7.9%

• Negative volume effects were compensated by

better gross margin and lower overhead costs


items


198 175 179 184138

0 €m

100 €m

200 €m

300 €m

Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

Order Intake

189 173 193 170 164

0 €m

100 €m

200 €m

300 €m

Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

Sales

1518 18 17

13

0 €m

10 €m

20 €m

Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

EBITDA1

• NWC improvement of €276m YoY or 559bps

• Reduction of NWC at Liquid & Powder,

Separation & Flow, Farm and Refrigeration

Technologies

• YoY improvement of trade receivables, net

contract assets and inventories while trade

payables remained stable

• The new organizational structure is key for the

significantly better NWC management

• Targeting NWC/Sales ratio of <14% by year-

end 2020

NWC/Sales ratio strongly reduced from 18.6% to 13.0%


906941

682720

630

18.6%19.2%

14.0%14.6%

13.0%

0%

5%

10%

15%

20%

25%

0 €m

200 €m

400 €m

600 €m

800 €m

1,000 €m

1,200 €m

Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

NWC as of reporting date

NWC as of reporting date as of sales (L4Q)

Net cash position of €92m at the end of Q2 2020


Free Cash Flow Q2 2020 [€m]

Net financial cash/debt 06/2020 vs. 03/2020 [€m]

Operating Cash Flow

• NWC €64m: improvement mainly due to reduction of

receivables (+€ 61m)

• Restructuring related cash outflow of -€11m

• Others €15m: non-cash increase of provisions for

bad debt, personnel and other overcompensating

pension related cash outflow of €11m

Net Cash Flow

• Capex -€18m: thereof €6m replacement, €8m R&D

capitalization, €1m new products, €2m other

Net financial cash

• Dividend payment of 42 cents per share compared

to 85 cents proposed for the full year

• The AGM was postponed to 26 November and the

proposal of the remaining 43 cents per share is still

valid

140

197182

16464

Capex Net Cash

Flow

Cash-out

Restructuring

2

Others Interests

paid

Others

-16 -2

EBITDA

before

Restructuring

Free Cash

Flow

Delta

NWC

-11-11

Taxes Operating

Cash flow

-1815

Lease

payments

10

92164

-76

Net Cash

03/2020

DividendNet Cash Flow

1 -3

DOP FX on Cash

-4

Others Net Cash

06/2020

Maturities [€m]

Strong financial position and sufficientfinancial headroom

18

Left side: committed

Right side: utilization

GEA Q2 2020 Figures

8222

650

128 128

12

2

12

2

100 10050

50

2022 20232020 2021 2024 2025 2026 2027

172 172

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

** Including uncommitted lines and credit lines < 1 Year.

* Utilization includes accrued interest and commitment fees

Financing and liquidity

• Sufficient financial leeway

• Ratings: Moody’s confirmed the rating on June 8, the outlook remains negative

with both current ratings, GEA is investment-grade

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

and are extended if needed

• EIB: As of April 01, 2020, €100m with a term running until March 31, 2027 have been

utilized (and initially invested)

RatingAgency Rating Outlook Last update

Moody's Baa2 negative June 08, 2020

Fitch BBB- stable May 08, 2020

Committed Utilized

€m June 30, 2020 June 30, 2020 Dec. 31, 2019

Borrower's note loan (2023) 128 128 128

Borrower's note loan (2025) 122 122 122

European Investment Bank 150 150 50

Other bilateral credit lines 82 22 26

Syndicated credit lines 650 - -

Total* 1.132 422 326

Cash and Cash Equivalents 514 355

Net Liquidity (+) / Net Debt (-) 92 28 *** Total net debt / cons. EBITDA based on frozen GAAP (covenant concept)

**** According to Moody’s consideration (3,1x in June 2020 as of March 2020)

∆ June 30, June 30, Dec. 31,

€m 2020A 2019A 2019A

Equity 2.054 2.318 2.090

Leverage*** (Covenant 3x) -0,2x 0,8x -0,1x

Leverage**** (Rating) l 3,1x 3,1x 3,3x

Financial Headroom 650 750 750

Cash and Cash Equivalents 514 231 355

Net Liquidity (+) / Net Debt (-) 92 -330 28


Outlook FY 2020

Stefan Klebert, CEO

0.9% 0.9%

3.1%2.6%

3.6%

1.3%1.9%

0.7% 0.7%

-3.4%

-5.2%

-1.8%

-6.1%

-8.6%-10%

-8%

-6%

-4%

-2%

0%

2%

4%

6%

Q2 19 Q2 20E

External view on industry development YoY


1.0% 0.8%

2.8% 3.0%3.6%

1.5% 1.7%

0.5% 0.6%

-1.0%

-3.4%

0.7%

-2.7%

-5.5%

-10%

-8%

-6%

-4%

-2%

0%

2%

4%

6%

2019 2020E

* w/o India & Pakistan; ** measured as “Value-added output, real US$”; *** excl. Construction

Sources: Oxford Economics per 21.07.2020; IFCN per 29.07.2020; GEA internal assessment

Prior guidance:

Between €430m and €480m

(previous year: €479m)

Guidance FY 2020 slightly upgraded


EBITDA(before restructuring measures)

SALES

Slightly below

previous year

Minimum upper end of

€430m and €480mBetween

12.0% and 14.0%

ROCE(before restructuring measures)

Prior guidance:

Between 9.0% and 11.0%

(previous year: 10.6%)

Prior guidance:

Slightly below previous year

(previous year: €4,880m)

Key priorities 2020


• Managing the impact of COVID-19 internally and on our business

− Keeping focus on order intake and sales

− Managing cost

− Securing cash

• Realizing savings from new global procurement and supply chain organization

• Concluding announced headcount reduction

• Continuing to increase operational efficiency

• Divesting earmarked low-margin business

GEA: We are a self-help story

Roadmap for 2020


Q2 2020

Today

Q3 2020

November 5,

2020

AGM

November

26, 2020


Questions & Answers

Stefan Klebert, CEO



Appendix

GEA – Q2 2020 figures


1 Adjusted = before FX and structural effects; 2 before restructuring measures; previous year: pro-forma figures for 2018 incl. IFRS 16 effects from 2019; 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)

[in EUR million] Q2 19 Q2 20 Δ YoY L4Q Q2 19 L4Q Q2 20 Δ YoY

Order Intake -9.8% 5.1%

Adjusted1 -8.0% 5.0%

Sales -6.6% -0.7%

Adjusted1 -5.2% -0.9%

Order Backlog 2,419.8 2,478.1 2.4% 2,419.8 2,478.1 2.4%

EBITDA2 111.2 140.4 26.2% 506.3 538.8 6.4%

EBITDA Margin2 8.9% 12.1% 314 bps 10.4% 11.1% 74 bps

EBIT2 57.5 93.4 62.5% 274.2 336.7 22.8%

EBIT Margin2 4.6% 8.0% 341 bps 5.6% 7.0% 133 bps

ROCE3 10.5% 14.8% 428 bps 10.5% 14.8% 428 bps

1,146.8 1,034.1 4,765.2 5,008.9

1,247.3 1,164.5 4,866.4 4,833.5

4,8

59

5,0

00

4,9

18 5,0

01

4,7

65

4,8

23 4

,931

5,1

22

5,0

09

4,7

29

4,7

87

4,8

28

4,8

46

4,8

66

4,9

12

4,8

80

4,9

16

4,8

33

4,400 €m

4,600 €m

4,800 €m

5,000 €m

5,200 €m

Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

Order Intake Sales

802 748 791 802 811 792 825 830 742

281210

260 219 238 192258 263

224

180

16076 127 80 148

106 144

46

1,383

1,197 1,2351,186 1,147

1,2551,343 1,377

1,034

120

79 107 38 18122

154 140

22

0 €m

200 €m

400 €m

600 €m

800 €m

1,000 €m

1,200 €m

1,400 €m

1,600 €m

Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

<€1m >=€1m < €5m >=€5m < €15m >=€15m

Order Intake Development by SizeOrder Intake and Sales (L4Q)

Sales by Customer

Industry (L4Q)

12%

18%

29%

13%

7%

7%

16%Dairy Farming -2% YoY

Dairy Processing 3% YoY

Food -7% YoY

Beverage 12% YoY

Pharma -12% YoY

Chemical -7% YoY

Other 11% YoY

GEA -1% YoY

Separation & Flow Technologies – Q2 2020 figures







Sales 4.0% 4.0%

Adjusted1 5.4% 3.7%

Order Backlog 429.8 398.5 -7.3% 429.8 398.5 -7.3%

EBITDA2 45.9 63.7 38.8% 258.0 267.0 3.5%

EBITDA Margin2 15.3% 20.4% 510 bps 21.4% 21.3% -10 bps

EBIT2 36.2 53.4 47.5% 215.6 225.5 4.6%


ROCE3 21.7% 23.1% 138 bps 21.7% 23.1% 138 bps

323.4 287.6 1,213.8 1,254.8

300.7 312.8 1,206.3 1,254.3

1,1

72

1,1

90

1,1

89

1,1

95

1,2

14 1,2

70

1,2

72

1,2

91

1,2

55

1,1

07

1,1

41

1,1

75

1,1

98

1,2

06

1,2

38

1,2

38

1,2

42

1,2

54

900 €m

1,000 €m

1,100 €m

1,200 €m

1,300 €m

1,400 €m

Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

Order Intake Sales

0%

21%

27%

11%

10%

6%

25%

272245

267 273 288 277 280 274 260

1424

2030

2917 30 37

2819

106

1321

2217

305

269

308 314 323 325310

332

288

0 €m

50 €m

100 €m

150 €m

200 €m

250 €m

300 €m

350 €m

Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

<€1m >=€1m < €5m >=€5m < €15m >=€15m


Sales by Customer

Industry (L4Q)

Dairy Farming -28% YoY


Food 16% YoY

Beverage 2% YoY

Pharma -12% YoY

Chemical 2% YoY

Other 4% YoY

SFT 4% YoY

Liquid & Powder Technologies – Q2 2020 figures






Adjusted1 -6.6% 22.7%

Sales -5.1% 3.4%


Order Backlog 1,128.1 1,318.2 16.9% 1,128.1 1,318.2 16.9%

EBITDA2 24.9 37.4 50.4% 78.7 115.1 46.2%


EBIT2 14.5 28.3 94.8% 29.0 72.1 148.9%


ROCE3 11.3% 46.1% 3481 bps 11.3% 46.1% 3481 bps

365.3 334.8 1,584.9 1,953.9

445.2 422.6 1,672.8 1,729.9

1,6

53

1,7

19

1,6

24

1,7

36

1,5

85

1,6

62 1

,828 1

,984

1,9

54

1,6

97

1,6

73

1,6

45

1,6

61

1,6

73

1,7

07

1,7

29

1,7

53

1,7

30

1,000 €m

1,200 €m

1,400 €m

1,600 €m

1,800 €m

2,000 €m

2,200 €m

Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

Order Intake Sales

35%

13%27%

4%

14%

7%

196160

202 194 212 215 202 192 176

121

86

110 9298 99 117 116

111

103

10355 86 55

86 75 117

26

96

79 16 38

105154

140

22

517

428

382410

365

505

549 566

335

0 €m

100 €m

200 €m

300 €m

400 €m

500 €m

600 €m

Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

<€1m >=€1m < €5m >=€5m < €15m >=€15m


Sales by Customer

Industry (L4Q)

Dairy Farming n.a


Food -11% YoY

Beverage 16% YoY

Pharma -2% YoY

Chemical -13% YoY

Other 107% YoY

LPT 3% YoY

Food & Healthcare Technologies – Q2 2020 figures





Order Intake -13.5% -13.2%

Adjusted1 -13.4% -13.5%

Sales -5.8% -5.5%

Adjusted1 -5.6% -5.8%

Order Backlog 597.7 501.9 -16.0% 597.7 501.9 -16.0%

EBITDA2 12.1 21.6 78.2% 77.3 73.3 -5.1%


EBIT2 -0.8 8.8 n.a 9.6 21.2 121.3%

EBIT Margin2 -0.3% 3.7% 406 bps 1.0% 2.3% 129 bps

ROCE3 1.3% 3.9% 259 bps 1.3% 3.9% 259 bps

222.2 192.1 1,001.3 868.8

251.6 236.9 992.6 937.9

932 9

86 1,0

70

1,0

83

1,0

01

978

914

899

869

874 9

40 982

980

993

987

963

953

938

500 €m

600 €m

700 €m

800 €m

900 €m

1,000 €m

1,100 €m

1,200 €m

Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

Order Intake Sales

1%

78%

2%

17%

1%

129 137 149 136 143 127152 143

122

10569

7870 62

50

7266

56

45

2811

31

17

2113

14

2469

1815

304

234

307

238222

210

244222

192

0 €m

50 €m

100 €m

150 €m

200 €m

250 €m

300 €m

350 €m

Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

<€1m >=€1m < €5m >=€5m < €15m >=€15m


Sales by Customer

Industry (L4Q)

Dairy Farming n.a

Dairy Processing n.a

Food -7% YoY

Beverage 107% YoY

Pharma -14% YoY

Chemical n.a

Other n.a

FHT -6% YoY

Farm Technologies – Q2 2020 figures






Adjusted1 2.3% 2.1%

Sales -9.7% -3.7%

Adjusted1 -6.3% -3.4%

Order Backlog 165.1 163.2 -1.2% 165.1 163.2 -1.2%

EBITDA2 13.2 14.9 12.7% 66.9 66.8 -0.2%


EBIT2 1.3 8.0 500.2% 32.4 43.8 35.3%


ROCE3 10.3% 14.6% 428 bps 10.3% 14.6% 428 bps

157.8 155.9 643.9 654.8

160.1 144.6 663.7 638.9

698

700

674

653

644

630 642 657

655

662

666

663

668

664

660

656

654

639

500 €m

550 €m

600 €m

650 €m

700 €m

750 €m

Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

Order Intake Sales

164 154 148 158146 152 161 162

146

310

54

12 54

16

10

6

167 170

153162 158 156

165177

156

0 €m

20 €m

40 €m

60 €m

80 €m

100 €m

120 €m

140 €m

160 €m

180 €m

200 €m

Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

<€1m >=€1m < €5m >=€5m < €15m >=€15m


Sales by Customer

Industry (L4Q)

100%

Dairy Farming -4% YoY

Dairy Processing n.a

Food n.a

Beverage n.a

Pharma n.a

Chemical n.a

Other n.a

FT -4% YoY

Refrigeration Technologies – Q2 2020 figures





Order Intake -30.0% -12.1%

Adjusted1 -27.6% -11.9%

Sales -13.4% -7.2%

Adjusted1 -10.8% -7.1%

Order Backlog 295.7 265.1 -10.4% 295.7 265.1 -10.4%

EBITDA2 14.9 13.0 -12.6% 59.1 66.7 12.9%


EBIT2 9.7 8.0 -17.7% 35.8 44.4 24.1%

EBIT Margin2 5.1% 4.8% -26 bps 4.7% 6.3% 160 bps

ROCE3 13.3% 17.8% 455 bps 13.3% 17.8% 455 bps

197.7 138.4 771.1 677.8

189.5 164.2 754.6 699.9

777 799

799

783

771

751

707 7

37

678

746

752 778

760

755

743

705 725

700

600 €m

800 €m

1,000 €m

Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

Order Intake Sales

160 152 164132 142

122 135 138106

3821

48

2338

21

34 38

27

12

23

11

18

3210 9

6

210196

223

154

198

175 179 184

138

0 €m

50 €m

100 €m

150 €m

200 €m

250 €m

Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

<€1m >=€1m < €5m >=€5m < €15m >=€15m


Sales by Customer

Industry (L4Q)

4%

35%

4%2%

54%

Dairy Farming n.a


Food -21% YoY

Beverage -20% YoY

Pharma n.a

Chemical 344% YoY

Other 5% YoY

RT -7% YoY

Service sales


116 110133 119 124 130 137 121 126

80 78

101

71100 97

115

8693

52 58

63

54

60 58

64

5857

67 73

72

67

68 73

78

72 68

71 68

80

55

65 61

69

60 59

368 366

428

346

394 396

438

375 381

Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT LPT FHT FT RT

Figures are shown in EUR million. Totals differ from sum below due to consolidation effects.

Development of selected P&L items


€m Q2 20 Q2 19 ∆ YoY Comment

Sales 1,164.5 1,247.3 -6.6%

Gross profit 356.5 352.9 1.0%Lower volume overcompensated by higher margin; last year was burdened by special

charges from backlog review

Selling expenses 136.6 157.0 -13.0% Improvement mostly due to reduced travel, advertising and marketing expenses

Research and development expenses 21.4 26.1 -18.0% Mainly a result of lower D&A and other expenses

General and administrative expenses 117.9 110.7 6.5% Higher IT and consulting expenses

Other income 85.2 55.9 52.5% Increase due to currency gains

Other expenses 83.4 70.6 18.1% Increase due to currency losses; last year included €16m provision for legal cases

Earnings before interest and tax (EBIT) 71.2 38.2 86.1%

Profit before tax from continuing operations 66.4 34.6 92.0%

Income taxes 21.2 8.0 166.2%Tax rate of 31.9% in Q2 20 due to income from countries where we can not use tax

loss carry forwards. New guidance for FY 20: ~30%

Profit after tax from continuing operations 45.2 26.6 69.9%

Profit for the period 45.2 25.4 78.1%

Basic and diluted earnings per share (€) 0.25 0.14 78.6%

Growth Breakdown Order Intake


in EURm Δ abs Δ in % Δ abs Δ in % Δ abs Δ in % Δ abs Δ in %

Order Intake previous period 1.147 1.377 2.333 4.765

Structural Change - - - - - - - -

Currency Translation -21 -1,8% -15 -1,1% -24 -1,0% 7 0,1%

Like-for-Like Development -92 -8,0% -328 -23,8% 101 4,3% 237 5,0%

Order Intake current period 1.034 -9,8% 1.034 -24,9% 2.411 3,3% 5.009 5,1%

Q2 20 vs. Q2 19 Q2 20 vs. Q1 20Q1 - Q2 20 vs.

Q1 - Q2 19

L4Q Q2 20 vs.

L4Q Q2 19

Growth Breakdown Sales


in EURm Δ abs Δ in % Δ abs Δ in % Δ abs Δ in % Δ abs Δ in %

Sales previous period 1.247 1.094 2.305 4.866

Structural Change - - - - - - - -

Currency Translation -19 -1,5% -17 -1,5% -19 -0,8% 13 0,3%

Like-for-Like Development -64 -5,2% 87 8,0% -27 -1,2% -45 -0,9%

Sales current period 1.165 -6,6% 1.165 6,5% 2.258 -2,0% 4.833 -0,7%

Q2 20 vs. Q2 19 Q2 20 vs. Q1 20Q1 - Q2 20 vs.

Q1 - Q2 19

L4Q Q2 20 vs.

L4Q Q2 19

Order intake split as of Q2 2020 L4Q: Top 30 countries account for 86% of order intake


Top DM Countries Share Delta LTM % BtB Top EM Countries Share Delta LTM % BtB

United States 16% 0,99 China 10% 1,16

Germany 9% 1,14 Russian Federation 3% 0,87

France 5% 1,12 Poland 3% 1,32

Netherlands 4% 1,15 Brazil 3% 1,19

Spain 3% 1,11 India 2% 0,83

Italy 3% 1,05 Indonesia 2% 1,12

United Kingdom 3% 0,97 Mexico 2% 0,99

Canada 2% 0,82 Vietnam 1% 1,66

Japan 2% 1,09 South Africa 1% 1,15

Ireland 2% 1,02 Turkey 1% 1,10

Belgium 2% 0,83 Thailand 1% 1,03

New Zealand 1% 0,93 Malaysia 1% 1,47

Denmark 1% 1,11 Belarus 1% 1,13

Australia 1% 0,88 Uruguay 1% 1,42

Switzerland 1% 0,77 Argentina 1% 1,09

More than 5%

Betw een 1% and 5%

Betw een -1% and 1%

Betw een -5% and -1%

Less than -5%

€m

Expectations

for 2020

(pro forma)

2019

Expectations

for 2020

(pro forma)

2019

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

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

Food & Healthcare Technologies significantly declining 963 significantly rising 67

Refrigeration Technologies significantly declining 705 slightly declining 58

Farm Technologies significantly declining 656 slightly rising 60

Others - - significantly declining -39

Consolidation - -411 - -2

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“.

Guidance FY 2020 by division


Additional financial information for FY 2020


Financial result

around

-€25m

Tax rate

around

30%

Capex

around

3.0%of sales

Depreciation&

Amortization (incl.

PPA, IFRS 16)

around

€200mthereof impact from

PPA

around

€30m

FX development


Currency % total Jun Q2 *FX rates Jun Q2

(average)

∆ FX YoY Jun 2020 vs

Jun 2019

EUR 46% - -

USD 18% 1,10 -2%

CNY 6% 7,75 1%

DKK 4% 7,46 0%

GBP 3% 0,87 0%

RUB 3% 76,67 4%

CAD 3% 1,50 0%

SGD 2% 1,54 0%

PLN 2% 4,41 3%

BRL 2% 5,41 25%

NZD 1% 1,76 5%

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

all figures on a YTD basis

Historical Timeline (1/4)


1 Adjusted = before FX and structural effects; 2 before restructuring measures; previous year: pro-forma figures for 2018 incl. IFRS 16 effects from 2019; 3 ROCE = EBIT2 (L4Q) / Capital employed excluding EUR ~800m goodwill

from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999 (average L4Q); 4 no pro-forma adjustment for IFRS 16

Order Intake €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT 293 301 250 309 307 305 269 308 314 323 325 310 332 288

LPT 370 446 362 477 297 517 428 382 410 365 505 549 566 335

FHT 234 212 180 223 225 304 234 307 238 222 210 244 222 192

FT 167 170 168 180 183 167 170 153 162 158 156 165 177 156

RT 181 194 174 224 170 210 196 223 154 198 175 179 184 138

Cons./ Other (109) (82) (77) (96) (81) (119) (99) (139) (92) (120) (117) (104) (105) (75)

GEA 1.136 1.241 1.057 1.317 1.103 1.383 1.197 1.235 1.186 1.147 1.255 1.343 1.377 1.034

Order Intake Group < 1 €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT 251 257 239 263 271 272 245 267 273 288 277 280 274 260

LPT 180 184 154 197 181 196 160 202 194 212 215 202 192 176

FHT 145 110 118 167 165 129 137 149 136 143 127 152 143 122

FT 159 166 165 164 171 164 154 148 158 146 152 161 162 146

RT 133 153 130 155 147 160 152 164 132 142 122 135 138 106

GEA 758 789 729 850 853 802 748 791 802 811 792 825 830 742

Order Intake Group >= 1 €m < 5 €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT 23 24 18 25 28 14 24 20 30 29 17 30 37 28

LPT 103 131 82 160 93 121 86 110 92 98 99 117 116 111

FHT 45 38 44 41 61 105 69 78 70 62 50 72 66 56

FT 9 4 3 17 12 3 10 5 4 12 5 4 16 10

RT 31 30 38 28 23 38 21 48 23 38 21 34 38 27

GEA 211 227 185 270 218 281 210 260 219 238 192 258 263 224

Order Intake Group >= 5 €m < 15 €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT 19 20 (7) 22 9 19 - - 10 6 13 - 21 -

LPT 65 53 90 61 23 103 103 55 86 55 86 75 117 26

FHT 16 6 18 15 - 45 28 11 31 - 17 21 13 14

FT - - - - - - 6 - - - - - - -

RT 17 11 5 24 - 12 23 11 - 18 32 10 9 6

GEA 116 89 107 122 32 180 160 76 127 80 148 106 144 46

Order Intake Group >= 15 €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT - - - - - - - 22 - - 17 - - -

LPT 22 78 35 59 - 96 79 16 38 - 105 154 140 22

FHT 28 58 - - - 24 - 69 - 18 15 - - -

FT - - - - - - - - - - - - - -

RT - - - 16 - - - - - - - - - -

GEA 50 136 35 75 - 120 79 107 38 18 122 154 140 22

Adj. Order Intake Growth1 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT 5,3% (2,3%) (2,4%) 15,1% 10,7% 4,7% 7,5% 1,1% 1,5% 5,4% 19,6% 0,5% 6,0% (9,8%)

LPT (20,8%) (2,5%) (5,8%) 7,5% (20,3%) 18,4% 19,7% (20,1%) 36,4% (30,4%) 15,9% 41,5% 38,3% (6,6%)

FHT 33,4% 24,0% (4,2%) (1,5%) (21,7%) 17,3% 5,3% 30,6% 4,7% (27,3%) (10,6%) (21,1%) (6,7%) (13,4%)

FT 11,1% 6,2% 23,9% 26,4% 18,9% 4,7% 6,5% (13,0%) (11,4%) (5,4%) (10,3%) 7,2% 10,1% 2,3%

RT 2,3% (8,7%) 8,1% 16,6% (3,2%) 11,3% 14,8% 0,8% (8,5%) (5,1%) (11,2%) (20,7%) 19,8% (27,6%)

GEA (4,9%) 0,6% (0,0%) 10,4% (3,8%) 9,9% 10,7% (6,8%) 7,0% (17,6%) 3,3% 7,8% 16,3% (8,0%)





Order Backlog Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT 357 360 350 351 403 421 396 370 413 430 427 397 429 398

LPT 1.348 1.336 1.246 1.200 1.130 1.226 1.239 1.160 1.230 1.128 1.205 1.254 1.417 1.318

FHT 409 435 443 533 541 586 586 610 630 598 575 555 556 502

FT 143 156 150 139 185 187 182 149 168 165 142 123 150 163

RT 277 271 261 280 288 300 312 305 289 296 298 284 289 265

Cons./ Other (145) (149) (150) (151) (146) (167) (165) (179) (178) (197) (210) (200) (212) (169)

GEA 2.389 2.410 2.300 2.351 2.401 2.554 2.550 2.416 2.551 2.420 2.436 2.412 2.629 2.478

Sales Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT 255 282 259 305 251 293 292 339 275 301 324 340 278 313

LPT 356 421 427 490 346 434 403 462 362 445 438 484 385 423

FHT 173 176 172 238 226 239 237 281 223 252 232 256 213 237

FT 132 152 171 188 138 165 175 185 143 160 171 182 141 145

RT 159 183 179 205 167 195 185 230 149 189 173 193 170 164

Cons./ Other (71) (75) (77) (95) (88) (98) (105) (124) (95) (100) (104) (113) (94) (117)

GEA 1.004 1.138 1.131 1.331 1.039 1.227 1.189 1.373 1.057 1.247 1.235 1.340 1.094 1.165

Adj. Sales Growth1 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT 9,5% (0,4%) (4,6%) 5,6% 3,6% 7,6% 14,9% 12,4% 8,8% 2,6% 9,2% (0,6%) 1,4% 5,4%

LPT 2,9% 1,0% 12,6% (0,1%) 0,0% 4,8% (5,6%) (5,9%) 3,0% 1,4% 6,7% 3,3% 6,3% (4,3%)

FHT 14,8% (7,2%) (1,8%) 8,1% 13,7% 9,1% 14,7% 5,0% (2,1%) 4,7% (2,6%) (9,3%) (4,9%) (5,6%)

FT 1,0% 6,4% 18,8% 20,4% 13,5% 16,2% 7,0% 0,9% 3,8% (3,1%) (4,1%) (2,7%) (0,4%) (6,3%)

RT (0,6%) (3,3%) (1,0%) 7,3% 8,6% 10,0% 4,4% 13,6% (9,8%) (2,5%) (7,5%) (17,4%) 13,9% (10,8%)

GEA 3,3% (2,5%) 4,3% 4,7% 4,5% 6,7% 2,8% 1,6% 1,0% 1,1% 2,4% (3,4%) 3,5% (5,2%)

Book-to-bill ratio Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT 1,15 1,07 0,97 1,01 1,23 1,04 0,92 0,91 1,14 1,08 1,00 0,91 1,19 0,92

LPT 1,04 1,06 0,85 0,97 0,86 1,19 1,06 0,83 1,13 0,82 1,15 1,13 1,47 0,79

FHT 1,35 1,20 1,05 0,94 1,00 1,27 0,98 1,10 1,07 0,88 0,90 0,95 1,05 0,81

FT 1,26 1,12 0,98 0,96 1,33 1,01 0,97 0,83 1,13 0,99 0,91 0,91 1,25 1,08

RT 1,14 1,06 0,97 1,09 1,02 1,08 1,06 0,97 1,03 1,04 1,01 0,93 1,09 0,84

GEA 1,13 1,09 0,93 0,99 1,06 1,13 1,01 0,90 1,12 0,92 1,02 1,00 1,26 0,89

EBITDA before restructuring €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT 46 67 54 87 44 57 77 78 58 46 74 69 60 64

LPT 16 26 8 63 1 25 22 39 (7) 25 30 40 8 37

FHT 10 10 10 21 15 22 20 26 19 12 16 19 16 22

FT 8 13 21 24 8 15 20 28 6 13 19 22 11 15

RT 13 17 16 18 13 23 20 18 7 15 18 18 17 13

Cons./ Other 2 (18) 3 (11) (4) 0 (13) (13) (8) 0 (14) (18) (8) (10)

GEA 95 115 112 201 77 142 145 175 75 111 143 150 105 140

EBITDA before restructuring margin Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT 18,2% 23,7% 20,9% 28,4% 17,4% 19,5% 26,2% 22,9% 21,0% 15,3% 23,0% 20,4% 21,5% 20,4%

LPT 4,5% 6,3% 1,9% 12,8% 0,2% 5,7% 5,6% 8,4% (2,0%) 5,6% 6,8% 8,2% 2,1% 8,9%

FHT 5,7% 5,4% 6,1% 8,7% 6,7% 9,1% 8,2% 9,3% 8,7% 4,8% 6,9% 7,5% 7,8% 9,1%

FT 5,8% 8,4% 12,0% 12,9% 6,0% 9,1% 11,4% 15,0% 4,2% 8,2% 11,2% 12,0% 7,7% 10,3%

RT 8,2% 9,1% 8,9% 8,6% 7,7% 11,8% 10,5% 7,6% 4,8% 7,9% 10,3% 9,5% 10,2% 7,9%

GEA 9,5% 10,1% 9,9% 15,1% 7,4% 11,6% 12,2% 12,8% 7,1% 8,9% 11,6% 11,2% 9,6% 12,1%





Depreciation & amortization2 €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT (6) (6) (6) (6) (9) (9) (9) (11) (9) (9) (9) (10) (10) (10)

LPT (3) (3) (3) (6) (8) (8) (9) (11) (9) (10) (9) (14) (9) (9)

FHT (3) (3) (3) (4) (6) (7) (7) (8) (7) (7) (7) (7) (7) (7)

FT (5) (5) (5) (5) (6) (7) (7) (8) (6) (12) (7) (2) (6) (6)

RT (2) (2) (2) (3) (5) (5) (6) (6) (5) (5) (5) (6) (5) (5)

Cons./ Other (1) (2) (2) (0) (4) (4) (5) (3) (4) (4) (4) (10) (4) (3)

GEA (20) (21) (22) (24) (38) (40) (42) (46) (40) (46) (42) (49) (41) (40)

PPA Depreciation & amortization2 €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT (1) (1) (1) (1) (1) (1) (1) (3) (1) (1) (1) (1) (0) (0)

LPT (1) (1) (1) (0) (1) (1) (1) (9) (1) (1) (1) (1) (1) (1)

FHT (5) (5) (5) (8) (9) (8) (8) (19) (6) (6) (6) (6) (6) (6)

FT (0) (1) (1) (1) (1) (1) (0) (0) (0) (0) (0) (1) (0) (0)

RT (0) (0) (0) (0) (0) (0) (0) (0) (0) (0) (0) (0) (0) (0)

Cons./ Other - - (0) 0 - - - 0 - - - 0 - -

GEA (7) (7) (8) (10) (11) (11) (11) (32) (8) (8) (8) (8) (7) (7)

EBIT before restructuring €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT 40 60 48 80 34 47 67 64 48 36 64 58 50 53

LPT 12 23 4 56 (8) 16 12 19 (17) 15 20 25 (2) 28

FHT 2 2 2 9 0 6 4 (1) 7 (1) 3 6 4 9

FT 3 7 15 19 1 8 12 19 (0) 1 12 19 4 8

RT 10 14 13 15 7 18 13 11 2 10 12 12 12 8

Cons./ Other 1 (19) 0 (11) (8) (3) (17) (15) (12) (3) (18) (28) (11) (13)

GEA 68 87 83 168 28 91 92 97 27 57 94 93 56 93

EBIT before restructuring margin Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT 15,7% 21,4% 18,4% 26,2% 13,6% 16,2% 23,0% 18,8% 17,6% 12,0% 19,9% 17,1% 17,9% 17,1%

LPT 3,3% 5,4% 0,9% 11,5% (2,2%) 3,6% 3,0% 4,1% (4,7%) 3,3% 4,6% 5,2% (0,4%) 6,7%

FHT 1,3% 1,0% 1,4% 3,7% 0,2% 2,7% 1,9% (0,2%) 2,9% (0,3%) 1,2% 2,3% 1,7% 3,7%

FT 1,9% 4,9% 8,8% 10,0% 1,0% 4,6% 7,1% 10,3% (0,3%) 0,8% 7,2% 10,7% 2,9% 5,5%

RT 6,5% 7,6% 7,4% 7,1% 4,4% 9,0% 7,2% 4,8% 1,2% 5,1% 7,0% 6,3% 7,1% 4,8%

GEA 6,8% 7,6% 7,3% 12,6% 2,7% 7,4% 7,8% 7,1% 2,6% 4,6% 7,6% 7,0% 5,2% 8,0%

EBITDA4 €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT 45 64 50 85 40 54 72 51 57 45 74 55 60 62

LPT 15 24 8 59 (4) 21 18 32 (8) 23 30 10 8 37

FHT 10 10 10 20 13 19 17 24 19 12 16 9 16 21

FT 8 13 20 23 6 12 17 24 6 13 18 8 11 17

RT 13 16 16 17 10 20 16 14 7 11 18 17 17 14

Cons./ Other 1 (20) 2 (9) (8) (4) (20) (16) (13) (3) (17) (34) (15) (19)

GEA 91 107 107 194 57 123 121 130 69 101 139 65 97 132

EBITDA margin4 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT 17,6% 22,8% 19,2% 27,9% 16,0% 18,5% 24,8% 15,2% 20,8% 14,9% 22,8% 16,2% 21,4% 19,8%

LPT 4,1% 5,7% 1,9% 12,0% (1,0%) 4,8% 4,4% 7,0% (2,1%) 5,2% 6,8% 2,1% 2,1% 8,8%

FHT 5,7% 5,4% 6,1% 8,3% 5,7% 8,0% 7,2% 8,6% 8,7% 4,8% 6,9% 3,6% 7,7% 9,1%

FT 5,8% 8,3% 11,9% 12,0% 4,4% 7,5% 9,7% 13,0% 4,1% 8,0% 10,8% 4,6% 7,5% 11,5%

RT 8,2% 8,7% 8,7% 8,3% 6,0% 10,5% 8,8% 6,3% 4,8% 5,9% 10,3% 8,7% 10,2% 8,3%

GEA 9,1% 9,4% 9,4% 14,6% 5,5% 10,0% 10,2% 9,5% 6,6% 8,1% 11,2% 4,9% 8,9% 11,4%





EBIT4 €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT 39 58 43 78 34 47 66 35 48 35 63 44 50 50

LPT 11 20 4 52 (8) 16 12 17 (17) 5 20 (4) (2) 28

FHT 2 2 2 8 0 6 4 (0) 7 (1) 3 (262) 4 9

FT 3 7 15 17 1 7 12 18 (1) 1 11 2 4 (3)

RT 10 13 13 14 7 17 13 11 2 5 12 6 12 9

Cons./ Other (1) (21) 0 (9) (10) (6) (23) (17) (16) (7) (21) (44) (19) (22)

GEA 64 79 78 160 24 88 85 64 22 38 89 (258) 48 71

EBIT margin4 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT 15,1% 20,5% 16,8% 25,7% 13,4% 16,2% 22,7% 10,3% 17,4% 11,6% 19,6% 12,9% 17,8% 16,1%

LPT 3,0% 4,8% 0,9% 10,6% -2,4% 3,6% 2,9% 3,7% -4,8% 1,2% 4,5% -0,9% -0,5% 6,7%

FHT 1,3% 1,0% 1,4% 3,3% 0,2% 2,5% 1,8% -0,2% 2,9% -0,3% 1,2% -102,2% 1,6% 3,7%

FT 1,9% 4,8% 8,7% 9,2% 0,8% 4,4% 6,8% 9,8% -0,5% 0,6% 6,7% 1,4% 2,7% -2,0%

RT 6,4% 7,1% 7,1% 6,8% 4,2% 9,0% 7,1% 4,9% 1,2% 2,7% 7,0% 3,0% 7,1% 5,2%

GEA 6,3% 6,9% 6,9% 12,0% 2,3% 7,1% 7,1% 4,7% 2,1% 3,1% 7,2% -19,2% 4,4% 6,1%

Capital Employed3 (avg. L4Q) €m Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT 627 720 812 893 912 935 964 987 982 994 1.005 1.007 995 978

LPT 171 169 171 183 209 235 271 276 241 254 257 253 209 156

FHT 674 575 470 446 532 627 726 735 718 730 738 681 619 547

FT 293 299 302 304 305 311 316 323 309 313 320 320 313 300

RT 220 227 237 252 267 287 306 314 277 272 269 267 260 249

Cons./ Other 30 (5) (42) (28) (20) (2) 9 23 22 28 41 38 41 41

GEA 2.014 1.986 1.950 2.050 2.206 2.394 2.592 2.657 2.548 2.591 2.630 2.566 2.437 2.271

ROCE2,3 (avg. L4Q) Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20

SFT - - - 25,5% 24,4% 22,4% 23,8% 21,6% 23,1% 21,7% 21,2% 20,5% 20,9% 23,1%

LPT - - - 51,6% 36,0% 29,1% 28,2% 14,3% 12,5% 11,3% 14,3% 17,0% 28,0% 46,1%

FHT - - - 3,4% 2,5% 2,9% 2,8% 1,5% 2,3% 1,3% 1,1% 2,1% 1,9% 3,9%

FT - - - 14,5% 14,0% 13,8% 12,7% 12,5% 12,4% 10,3% 10,1% 10,2% 11,9% 14,6%

RT - - - 20,6% 18,3% 18,4% 17,3% 15,7% 15,8% 13,3% 13,1% 13,4% 17,7% 17,8%

GEA - - - 19,8% 16,6% 15,5% 14,6% 11,6% 12,0% 10,5% 10,5% 10,6% 12,3% 14,8%

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