Gea Group Aktiengesellschaft · XETR:G1A
Gea Group Aktiengesellschaft — Q2 2015 Earnings Presentation
65 slides from Gea Group Aktiengesellschaft's earnings presentation, Jul 29, 2015
Slide 1: Q2 2015 Presentation for Roadshows and Conferences
Q2 2015 Presentation for Roadshows and Conferences Düsseldorf, July 29th, 2015
Slide 2: Disclaimer
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 tha
Slide 3: Table of Contents
Table of Contents GEA Equity Story Pages 4 - 26 Q2 2015 Results Presentation Pages 28 - 44 Back-ups Pages 50 - 58 Historical Key Figures GEA Group & Segments Pages 59 - 62 ADR Information Page 63 3 GEA on Roadshows and Conferences - Q2 2015 engineering for a better world
Slide 4: GEA in summary
GEA in summary GEA is a global leader in equipment and process technology providing innovative solutions for smart food processing and for a more efficient use of energy resources. Sales Operating EBIT Margin Employees Market Cap EUR 4.5bn (FY14) 11.4% (FY14) ~18,000 (Jun 15) >EUR 7.5bn (Jun 15) Dai
Slide 5: GEA in summary …we are all this and more every day
GEA in summary You are in touch with food processed by GEA equipment every day… Every 4th liter Every 3rd instant Every 3rd chicken Every 2nd liter of of milk you are coffee production nugget you are beer you are consuming has been line around the globe eating has been drinking has gone processed th
Slide 6: What we like about the food industry (1): Steady growth due to urbanization
What we like about the food industry (1): Steady growth rates due to continuing urbanization Urbanization Today the world’s Illustrative Developed economies population lives (B) 300 KM 1.0 1.1 50% in the cities 2010 2050 necessary agricultural supply area 50% Emerging markets Shanghai in the country
Slide 7: What we like about the food industry (2): Stable consumer spending
What we like about the food industry (2): Stable consumer spending also in tough times Economically Economically good times difficult times 7 GEA on Roadshows and Conferences - Q2 2015 engineering for a better world
Slide 8: What we like about the food industry (3): Zero failure tolerance
What we like about the food industry (3): Zero failure tolerance a significant entry barrier If equipment fails in the food industry, the end-consumer’s health could be at risk Would you as a food producer save money on a machine risking a food scandal if the machine is not working properly? 8 GEA o
Slide 9: What we like about the food industry (4): Price not the most decisive criterion
What we like about the food industry (4): Price apparently not the most decisive purchase criterion Ranking of key buying criterion according to GEA customer satisfaction survey, September 20141 Machine Quality and Performance 71% Price 30% Quality of After-Sales Service 23% … … … … … … For GEA’s cu
Slide 10: What we like about the food industry (5): Continuous launch of new products
What we like about the food industry (5): Continuous launch of new products to stimulate demand ~ 3,500 new products p.a. entering ~ 2,000 new food products p.a. the US food market in German supermarkets alone Additionally, higher resource efficiency (e.g. power, water usage) is a major competitive
Slide 11: GEA's client base is highly fragmented
What we like about the food industry (6): GEA’s client base is highly fragmented Cumulative Revenue Share 45% 40% ~ 30% of the Top 50 customers are already coming from 35% Emerging Markets 30% ~32% 25% 20% 15% 10% ~12% 5% ~2% 0% Top Customer Top 10 Top 50 Top 100 Top 150 Top 200 Number of customers
Slide 12: Local Emerging Markets food producers grow faster than multinationals
Local Emerging Markets food producers grow faster than multinationals Selection of local GEA customers in Emerging Markets Sales CAGR FY 2010-13 11% Local EM food producers1 1/3 of local players are not yet GEA customers1 32% GEA 68% customers 1 65 listed local food players in EM with sales > EUR 1b
Slide 13: Our vision GEA 2020: To be the first choice of our customers
Our vision “GEA 2020”: To be the first choice of our customers GEA to become the globally leading engineering group to provide smart solutions to sophisticated process industries. In particular we always want to be the first choice of our customers in the relevant food industry. Our ARTE framework d
Slide 14: ARTE framework as pillars for GEA's strategy
ARTE framework as pillars for GEA’s strategy Target Footprint 2020 Applications R egions Technologies EFunctional xcellence • Exploit market • Capture global • Strengthen • Increase efficiency potential in target growth opportunities innovation and in operations and applications • Expand local techn
Slide 15: Targeted applications for target footprint GEA 2020
Targeted applications for target footprint “GEA 2020” 1 5 Expand in total solutions for Grow leading position in dairy edible oils, starch & sugar 2 6 Grow leading position in liquid food Enter confectionery, biscuits & pizza 3 7 Strengthen packaging Strengthen personal care competencies 4 8 Foster
Slide 16: Example how GEA executes its application strategy
Example how GEA executes its application strategy Milk intake & preparation Milk intake Milk storage Bacteria removal Standardization Pasteurization & preparation & distribution (optional) • Milking • Valves • Standardization • Sterilization • Heat parlor • Pumps separator separator exchanger • Tank
Slide 17: GEA's food exposure 75% - 80%
GEA’s food exposure 75% - 80% Sales exposure 2020: No 100% food exposure due to multi-purpose 75% - 80% food functionality of our products: Non- Food Food 17 GEA on Roadshows and Conferences - Q2 2015 engineering for a better world
Slide 18: Project Fit for 2020: From four Segments to two Business Areas
Project “Fit for 2020”: From four stand-alone Segments to two integrated Business Areas Former organization New current organization Executive Board Executive Board FT ME RT PE Head- Equipment Solutions Global SSC quarter BA BA Corp. Center Support Support Support Support Regions Regions Regions Reg
Slide 19: New current organizational set-up (Fit for 2020)
New current organizational set-up (“Fit for 2020”) reflects all elements of ARTE strategy Executive Board A pplications R egions T echnologies Functional E xcellence Equipment Business Area Solutions Business Area Product Engineering & Development T Technology Centers T Product Management & Sales Ap
Slide 20: Financial Targets
Financial Targets FY 2014 - 2020 CAGR Organic Sales Growth FY 2014 - FY 2020: 4% to 6% FY 2017 - 2020 Service to Sales Ratio: ~30% Operating EBIT Margin: 13% to 16% Working Capital to Sales Ratio: 10% to 12% Capex to Sales Ratio: 1.5% to 2.0% Cash Flow Driver Margin: 12% to 15% ROCE: 20% to 25% Net
Slide 21: Financial Targets: Operating EBIT Margin 13% to 16%
Financial Targets for FY 2017 - FY 2020: Operating EBIT Margin: 13% to 16% GEA has gradually managed up Operating EBIT Margin to > 11% Upside: 16% • Service • Op. leverage • Underperforming units 11.4% 11.6% 10.5% 10.6% Incl. “F2020“ savings of 10.3% min. 13% >€125m until 2017 8.8% 8.4% 6.8% 2008 20
Slide 22: Strong focus on ROCE and cash generation
Strong focus on ROCE and cash generation ROCE and Cash Flow Driver Margin: since Q1 2014 adjusted for “F2020” related one-offs 26.4% 26.6% 26.7% 25.0% 25.6% 24.7% 22.1% 19.3% 19.6% 18.6% 18.6% 18.8% 16.7% 10.1% 10.2% 10.5% 9.0% 9.6% 9.7% 9.3% 9.3% 8.3% 7.4% 4.3% 4.6% 5.0% Q2 12 Q3 12 Q4 12 Q1 13 Q2
Slide 23: Stronger cash generation leading to higher dividend payout ratio
Stronger cash generation going forward leading to higher dividend payout ratio Sources of funds: Capital allocation priorities Significant cash flow 2015 - 2017 [EURbn] 1. Dividend payments: Change of payout ratio ~1 from 1/3 to 40-50% of net income ~2 2. Strengthen GEA’s application know-how by ~1
Slide 24: Summary: What we like about the food industry
Summary: What we like about the food industry Steady growth rates (catch-up in Emerging Markets) Superior margin levels (high technological requirements; high barriers to entry) Food safety concerns Product Innovation (continuous launch of new products to stimulate demand) Innovation for resource ef
Slide 25: 2015 EBITDA guidance to take Fit for 2020 savings into account
2015 EBITDA guidance to take “Fit for 2020” savings into account/ other elements confirmed Provided that there is no decline in global economic growth and a constant currency basis compared to FY 2014, and without taking into account the impact of acquisitions and one-off effects, we are aiming in F
Slide 26: Key Messages
Key Messages GEA with clear growth and profitability targets • 4% to 6% organic sales growth (FY 2014 – FY 2020) • 13% to 16% Operating EBIT-Margin (FY 2017 – FY 2020) New current organizational set-up “Fit for 2020” • Cost savings of at least EUR 125m net p.a. • New set-up offers further potential
Slide 27: engineering for a better world
~ engineering for a better world 4 www.gea.com
Slide 28: Executive Summary Q2 2015
Executive Summary Q2 2015 Key Highlights Q2 2015: Order Sales Operating Operating Op. ROCE1 Operating CFD Intake (EURm) (EURm) EBITDA (EURm) EBIT (EURm) Margin 1,149 1,150 139.3 119.8 26.7% 10.5% D +168 bps D +121 bps D -2% YoY D +3% YoY D +9% YoY D +10% YoY YoY YoY Structural change: Structural cha
Slide 29: Key figures and change YoY Q2 2015
Key figures and change YoY Q2 2015 Order Intake Sales [EURm] D -2% [EURm] [EURm] D +3% 1,170 adjusted1: -9% 1,149 1,118 adjusted1: -4% 1,150 D +1% D +4% GEA Equipment 570 573 GEA Equipment 565 588 D -4% 652 D +2% GEA Solutions 629 GEA Solutions 603 613 Q2 2014 Q2 2015 Q2 2014 Q2 2015 Operating EBIT
Slide 30: Operating EBIT Margin at record 11.6% as of Q2 2015 LTM
Operating EBIT Margin at record 11.6% as of Q2 2015 LTM Development LTM: Order Intake, Sales, Operating Margins [EURm] 13.4% 6,000 12.6% 13% 12.0% 11.9% 11.6% 12% 5,000 11.0% 10.9% 10.3% 11% 10.3% 9.3% 10% 4,000 9.0% 9% 3,000 8% 7.2% 7% 2,000 6% Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Slide 31: Order intake -2% YoY but +2% QoQ
Order intake -2% YoY but +2% QoQ Order Intake Development by size since Q2 2011 [EURm] 1,400 1,400 1,200 1,200 162 123 54 55 100 65 112 144 121 160 83 110 87 112 1,000 1,000 60 58 96 44 102 67 22 103 91 135 124 107 132 88 68 128 111 102 131 182 214 234 211 163 190 135 221 175 160 170 174 800 185 208
Slide 32: Regional Sales Split as of Q2 2015 LTM
Regional Sales Split as of Q2 2015 LTM: North America Western Europe Eastern Europe Emerging Markets1 & CIS 18% 36% 8% 36% D YoY adj.: +3% D YoY adj.: +5% D YoY adj.: +2% D YoY adj.: -4% Top-3-Countries USA: 17% (15%) Latin America Africa Middle East Asia-Pacific D YoY adj.: +2% China: 10% (10%) D Y
Slide 33: Sales by Customer Industry LTM: Good growth from dairy sector
Sales by Customer Industry LTM: Good growth from dairy sector Adjusted Sales CAGR 10-14: +15% 220% Adjusted Sales CAGR 10-14: +9% 180% 140% 100% GEA Group Adjusted Sales CAGR 09-14: +6% Other Industries Dairy Farming 60% D +6% adj. YoY D +6% adj. YoY Dairy Farming Dairy Processing GEA Group 16% 14%
Slide 34: Book to Bill Ratio > 1 in Pharma/Chemical
Book to Bill Ratio > 1 in Pharma/Chemical driven by strong West European business Book to bill ratio (L4Q) Western Eastern Europe & CIS North America Latin America Africa Middle - East Asia - Pacific Total Q2 2015 Europe BtB % of OI BtB % of OI BtB % of OI BtB % of OI BtB % of OI BtB % of OI BtB % o
Slide 35: Order Backlog: Continues to increase
Order Backlog: Continues to increase [EURm] 2,256 2,195 2,136 2,185 2,085 2,087 2,137 2,038 1,983 2,015 1,901 1,932 1,830 735 837 845 701 1,350 1,300 1,350 1,200 1.06 1.05 1.07 1.05 1.07 1.08 1.07 1.05 1.02 1.01 1.00 1.01 1.00 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q
Slide 36: ROCE Development: tends to improve before one-offs
ROCE Development: tends to improve before one-offs [EURm] 26.4% 26.6% 26.7% 25.0% 25.6% 24.7% 22.9% 23.2% 22.6% 22.7% 22.1% 22.6% 19.3% 19.6% 18.6% 18.6% 18.8% 16.7% 16.4% 1,929 1,943 1,974 2,007 1,873 1,887 1,890 1,891 1,886 1,895 1,900 1,912 1,830 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2
Slide 37: Working Capital to sales ratio around 12%
Working Capital to sales ratio around 12% [EURm] 12.8% 12.9% 12.7% 12.1% 12.2% 11.9% 12.1% 12.1% 12.2% 12.3% 11.7% 11.7% 11.8% 11.9% 11.0% 11.3% 11.4% 590 588 583 538 535 548 523 521 511 515 521 449 460 424 395 356 363 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3
Slide 38: Cash Flow Driver Margin: slight improvement before one-offs
Cash Flow Driver Margin: slight improvement before one-offs [EURm] 10.1% 10.2% 10.5% 9.7% 9.3% 9.3% 9.6% 9.3% 9.0% 9.0% 9.0% 8.8% 9.0% 8.3% 7.4% 6.6% 4.6% 5.0% 515 546 550 4.3% 471 478 527 536 540 436 441 420 462 433 10 33 19 -1 -19 -26 -38 -41 -47 -43 -132 -88 -126 -124 -120 -122 -147 -126 -123 -11
Slide 39: Cash generation LTM: ~ EUR 418m
Cash generation LTM: ~ EUR 418m Net Liquidity reconciliation [EURm] Net Debt 30.06.2014 incl. HX -551.8 Elimination Net Cash Position HX -91.6 Net Debt 30.06.2014 w/o HX -643.4 EBITDA 433.3 Delta Working Capital 22.7 Capex -86.9 D +EUR 418m excl. Taxes / Interests -115.9 EUR 91.3m translation impact
Slide 40: Service Business for Q2 2015 LTM: 28% of Sales
Service Business for Q2 2015 LTM: 28% of Sales Sales growth YoY of +10.7% (+6.3% adjusted) [EURm] D +11% D +13% D +14% (+6% adjusted) (+9% adjusted) (+10% adjusted) 1,297 1,172 861 761 484 425 27% 28% 34% 36% 18% 20% GEA Group GEA Equipment GEA Solutions Q2 2014 LTM Q2 2015 LTM % Share of Service Sa
Slide 41: Fit for 2020 continues to proceed on track
“Fit for 2020“ continues to proceed on track Thousands of customers appreciated information pointing out why more is in it for them in the new set-up Go-live of new organizational architecture happened in early June 2015 Front-loaded implementation: one-off charges of about € 134m in Q2 Down
Slide 42: 2015 EBITDA guidance to take Fit for 2020 savings into account
2015 EBITDA guidance to take “Fit for 2020” savings into account / other elements confirmed Provided that there is no decline in global economic growth and a constant currency basis compared to FY 2014, and without taking into account the impact of acquisitions and one-off effects, we are aiming in
Slide 43: Additional Financial Information for FY 2015
Additional Financial Information for FY 2015 Depreciation Thereof Working Target Capex Interests Tax Rate Dividend Policy & Amortization impact from Capital LTM Level Financial (incl PPA) PPA in 2015 (of sales (of sales) Liabilities (EURm) and in LTM) (EURm) subsequent years (EURm) around around aro
Slide 44: Financial Targets
Financial Targets FY 2014 - 2020 CAGR Organic Sales Growth FY 2014 - FY 2020: 4% to 6% FY 2017 - 2020 Service to Sales Ratio: ~30% Operating EBIT Margin: 13% to 16% Working Capital to Sales Ratio: 10% to 12% Capex to Sales Ratio: 1.5% to 2.0% Cash Flow Driver Margin: 12% to 15% ROCE: 20% to 25% Net
Slide 45: Investor Relations Calendar Upcoming Roadshows and Conferences
Investor Relations Calendar Upcoming Roadshows and Conferences 2 0 1 5 July 30 - 31, 2015 Roadshow UK London HSBC Aug 11 - 12, 2015 Conference USA NYC Jefferies Aug 13, 2015 Roadshow USA Boston Berenberg Aug 14, 2015 Roadshow Canada Montreal Baader-Helvea Aug 18, 2015 Roadshow Poland Warsaw Erste Ba
Slide 46: Investor Relations Calendar Upcoming Roadshows and Conferences
Investor Relations Calendar Upcoming Roadshows and Conferences 2 0 1 5 Sept 02, 2015 Roadshow Copenhagen Denmark Danske Bank Sept 08, 2015 Conference UK London Credit Suisse Sept 09, 2015 Roadshow France Paris Exane Sept 10, 2015 Investor Days BeNeLux Amsterdam UBS Sept 10 - 11, 2015 Conference UK L
Slide 47: Investor Relations Calendar Upcoming Roadshows and Conferences
Investor Relations Calendar Upcoming Roadshows and Conferences 2 0 1 5 Sept 17, 2015 Conference Germany Frankfurt equinet Sept 22 - 23, 2015 Conference Germany Munich Baader Bank Sept 29, 2015 Conference UK London Bernstein Sept 30, 2015 Roadshow Scotland Edinburgh Kepler Sept 30, 2015 Roadshow Germ
Slide 48: Financial Calendar
Financial Calendar 2 0 1 5 Oct 28, 2015 Interim Report Q3 2015 Düsseldorf 48 GEA on Roadshows and Conferences - Q2 2015 engineering for a better world
Slide 49: engineering for a better world
~ engineering for a better world 4 www.gea.com
Slide 50: GEA Group
GEA Group Q1-Q2 Q1-Q2 Sales by Customer Sales by Region [in EUR million] Q2 2014 Q2 2015 ∆ YoY ∆ YoY 2014 2015 Industry 16% 14% 3% 4% 6% Order Intake -1.8% +3.7% 1,169.9 1,148.8 2,194.2 2,276.2 adjusted1 -8.9% -2.6% 8% LTM as of LTM as of 36% Sales +2.9% +4.3% 12% Q2 2015: Q2 2015: 1,117.7 1,150.1 2
Slide 51: GEA Equipment
GEA Equipment Q1-Q2 Q1-Q4 Sales by Customer Sales by Region [in EUR million] Q2 2014 Q2 2015 ∆ YoY ∆ YoY 2014 2015 Industry 7% 3% 3% Order Intake +0.6% +1.3% 19% 569.7 573.0 1,144.7 1,159.6 adjusted1 -6.0% -4.9% 30% 7% LTM as of LTM as of 37% Sales +4.0% +5.1% 6% Q2 2015: Q2 2015: 565.4 587.9 1,060.
Slide 52: GEA Solutions
GEA Solutions Sales by Customer Sales by Region [in EUR million] Q2 2014 Q2 2015 ∆ YoY Q1-Q2 2014 Q1-Q2 2015 ∆ YoY Industry 13% 3%4% 5% Order Intake -3.6% +5.4% 652.4 628.9 1,154.5 1,217.2 9% adjusted1 -10.9% -0.7% LTM as of 37% LTM as of 36% 18% Q2 2015: Q2 2015: Sales +1.6% +3.0% 603.3 612.9 1,105
Slide 53: Order Intake Q2 2015
Order Intake Q2 2015 [EURm] Q2 2015 vs. Q1-Q2 2015 vs. Q2 2015 vs. Q2 2014 Q1-Q2 2014 Q1 2015 ∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in % Order Intake 1,170 2,194 1,127 previous period Structural Change +6 +0.5 % +8 +0.4 % +6 +0.6 % Currency Translation +77 +6.6 % +131 +6.0 % +12 +1.0 % At Constant Cu
Slide 54: Sales Q2 2015
Sales Q2 2015 [EURm] Q2 2015 vs. Q1-Q2 2015 vs. Q2 2015 vs. Q2 2014 Q1-Q2 2014 Q1 2015 ∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in % Sales 1,118 2,068 1,006 previous period Structural Change +6 +0.5 % +10 +0.5 % +6 +0.6 % Currency Translation +73 +6.5 % +134 +6.5 % +10 +1.0 % At Constant Currencies -46
Slide 55: Operating EBITDA Q2 2015
Operating EBITDA Q2 2015 [EURm] Q2 2015 vs. Q1-Q2 2015 vs. Q2 2015 vs. Q2 2014 Q1-Q2 2014 Q1 2015 ∆ abs. ∆ in % ∆ abs. ∆ in % ∆ abs. ∆ in % Operating EBITDA 128 213 98 previous period Structural Change 0 -0.2 % 0 -0.1 % 0 -0.3 % Currency Translation +7 +5.7 % +12 +5.7 % +1 +1.0 % At Constant Currenc
Slide 56: GEA's reported EBITDA impacted by FX and One-Offs
GEA’s reported EBITDA impacted by FX and One-Offs EBITDA bridge Q2 2015 [EURm] +7 0 139 -133 +4 132 128 -0.2% +3.3% +5.7% -95.4% 6 Q2 2014 At Constant Q2 2015 Currency Structural Q2 2015 One-Offs Q2 2015 Operating Currencies Operating Translation Change Operating Reported EBITDA EBITDA EBITDA EBITDA
Slide 57: FX Development Q2 2015 YoY
FX Development Q2 2015 YoY FX Rates FX Rates D FX YoY D FX YoY % total Q2 2015 Q2 2015 H1 2015 Currency Q2 2015 vs Q2 H1 2015 vs H1 sales (average) (average) 2014 2014 EUR 45 % - - - - USD 18 % 1.11 -19.4 % 1.12 -18.6 % CNY 7% 6.86 -19.8 % 6.94 -17.8 % GBP 5% 0.72 -11.5 % 0.73 -10.8 % NZD 4% 1.51 -5
Slide 58: Working Capital Development
Working Capital Development [EURm] Trade Trade Advance Working Receivables Inventories Payables Payments Capital Q2 2015 994 637 561 487 = 583 +48 +75 -78 +43 +159 +5% +13% -12% +10% +37% Q4 2014 946 562 640 444 = 424 +3 -62 +122 -15 -166 +0% -10% +24% -3% -28% Q2 2014 943 623 517 459 = 590 58 GEA o
Slide 59: Key Figures Time Line (1/4)
Key Figures Time Line (1/4) Order Intake Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15 [in EUR m illion] BA Equipment 533.3 570.6 573.2 553.1 2,230.2 574.9 569.7 564.7 585.8 2,295.1 586.5 573.0 BA Solutions 610.2 698.2 640.8 636.3 2,585.5 502.1 652.4 646.5 622.3 2,423.4 588.3
Slide 60: Key Figures Time Line (2/4)
Key Figures Time Line (2/4) Operating EBITDA Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15 [in EUR m illion] BA Equipment 48.3 65.9 84.0 113.1 311.2 56.2 71.7 90.0 131.2 349.2 67.4 84.5 BA Solutions 32.1 52.2 53.5 96.9 234.7 34.2 57.8 60.3 117.5 269.8 32.3 58.1 Consolidation
Slide 61: Key Figures Time Line (3/4)
Key Figures Time Line (3/4) Capital Em ployed w /o goodw ill2) (average LTM) Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15 [in EUR m illion] BA Equipment n.a. n.a. n.a. 1,454.9 1,454.9 1,466.1 1,480.1 1,494.7 1,506.2 1,506.2 1,519.8 1,526.8 BA Solutions n.a. n.a. n.a. 371.3 3
Slide 62: Key Figures Time Line (4/4): Remarks
Key Figures Time Line (4/4): Remarks 1) Adjusted Sales Growth = before currency translation and structural change 2) Capital employed excluding goodwill from the acquisition of the former GEA AG by the former Metallgesellschaft AG in 1999. 3) ROCE LTM = EBIT reported (LTM) / Capital employed excludi
Slide 63: ADR Information
ADR Information GEA Group has a sponsored level I ADR program Ratio: 1 ADR = 1 Ordinary share Bloomberg ticker: GEAGY:US CUSIP: 361592108 ISIN: US3615921083 Depositary bank: Deutsche Bank Trust Company Americas Depositary bank contacts: ADR broker helpline Tel: +1 212 250 9100 (New York) T
Slide 64: Investor Relations Contact
Investor Relations Contact Dr. Helmut Schmale Donat von Müller CFO +49 211 9136 1080 +49 211 9136 1082 donat.vonmueller [email protected] @gea.com Rebecca Weigl +49 211 9136 1081 rebecca.weigl @gea.com 64 GEA on Roadshows and Conferences - Q2 2015 engineering for a better world
Slide 65: engineering for a better world
~ engineering for a better world 4 www.gea.com
GEA Group Aktiengesellschaft — Q2 2015 Earnings Presentation on 6ix