Gea Group Aktiengesellschaft · XETR:G1A
Gea Group Aktiengesellschaft — GEA Group — Non-Deal Roadshow (November 2025)
51 slides from Gea Group Aktiengesellschaft's roadshow presentation, November 2025
Slide 1: GEA Group AG Roadshow presentation
GEA Group AG Roadshow presentation November 2025
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements. Forward-looking statements may include, in particular, statements about future events, future financial performance, plans, strategies, expectations, prospects, competitive environment, regulation and supply and demand. Statements wit
Slide 3: GEA Group at a glance
GEA Group at a glance Employees Revenue EBITDA EBITDA Order intake before restructuring before restructuring expenses expenses FY 2024 18,347 5,422 837 15.4 5,553 full-time equivalents EUR million EUR million percentage of EUR million revenue Roadshow Presentation 3
Slide 4: GEA Group – a compelling investment
GEA Group – a compelling investment 1 Leading positions in attractive and resilient markets 2 Sustainability pioneer Mission 30: Ambitious plan for growing and highly 3 profitable business 4 Strong Free Cash Flow generation potential 5 Attractive shareholder return Roadshow Presentation 4
Slide 5: GEA Group – what we do
GEA Group – what we do 1 Leading positions in attractive and resilient markets Food Beverage Pharma Every 4th package of Every 2nd liter of beer Every 4th liter of human blood spaghetti is processed with is brewed with the aid for making plasma-derived GEA technology of systems and process products
Slide 6: Leading market positions across all divisions
GEA Group – leading market positions across all divisions 1 Leading positions in attractive and resilient markets #1-21 #1-31 #2-41 #1-21 #2-31 Separation & Flow Liquid & Powder Food & Healthcare Farm Technologies Heating & Refrigeration Technologies Technologies Technologies Technologies Sales (in
Slide 7: Diversification as key to success
GEA Group – diversification as key to success 1 Leading positions in attractive and resilient markets GEA’s key customer industries are very stable, reliable and growing Balanced regional profile Production growth1 Industry volatility1 (CAGR 2004-2024 in %) (Standard Deviation 2004-2024 in %) Food &
Slide 8: GEA Group – a compelling investment
GEA Group – a compelling investment 1 Leading positions in attractive and resilient markets 2 Sustainability pioneer Mission 30: Ambitious plan for growing and highly 3 profitable business 4 Strong Free Cash Flow generation potential 5 Attractive shareholder return Roadshow Presentation 8
Slide 9: GEA – Pioneer in Sustainability
GEA – Pioneer in Sustainability Comprehensive ESG strategy with a clear pathway to Net Zero by 2040 Net Zero target by 2040 validated by SBTi First company in the DAX index family with Say on Climate vote 98.4% shareholder approval for our Climate Transition Plan 2040 at the AGM in 2024 External rec
Slide 10: Processes of our customers are highly energy consuming
Processes of our customers Transformation of GEA’s product portfolio are highly energy consuming Develop more resource-efficient solutions With our R&D Launch resource-efficient products Energy efficiency through digital solutions Heat & energy recovery solutions activities we aim Phase out fossil f
Slide 11: Low-carbon heat network for HEINEKEN brewery
Low-carbon heat network for HEINEKEN brewery 2 Sustainability pioneer Impact per year1 GEA supplies In 2030, we expect for HEINEKEN Manchester the decarbonization site with heat pump solution and supports of the process industry an order intake of 5,432 t CO2e its net zero ambition more than €300m.
Slide 12: Increasing the share of sustainable solutions
Our commitment at GEA is to increase the share of sustainable solutions1 2030 2024 >60% 41.6% Thereof 39.5% EU taxonomy aligned 1 The basis for calculating the share of sustainable solutions sales is the aggregation of sales from the Add Better portfolio, solutions that are classified as sustainable
Slide 13: Another important recognition for our sustainable leadership
Another important recognition for our sustainable leadership TIME and Statista evaluated over 5,000 global businesses and have named 500 companies doing best for the Earth. GEA ranks globally NO. 12 up from rank 331 in Germany NO. 2 up from rank 31 1 In the 2024 evaluation Source: World’s Most Susta
Slide 14: GEA Group – a compelling investment
GEA Group – a compelling investment 1 Leading positions in attractive and resilient markets 2 Sustainability pioneer Mission 30: Ambitious plan for growing and highly 3 profitable business 4 Strong Free Cash Flow generation potential 5 Attractive shareholder return Roadshow Presentation 14
Slide 15: Mission 30: Our plan for enduring success
Mission 30: Our plan for enduring success 3 Mission 30: Ambitious plan for growing and highly profitable business Impact. Resilient communities Thriving employees Responsible innovation >5% 17-19% >45% Organic sales EBITDA margin ROCE CAGR Growth. Value. Future-ready portfolio Optimized cost structu
Slide 16: Concrete initiatives to drive GROWTH.
Concrete initiatives to drive GROWTH. … 3 Mission 30: Ambitious plan for growing and highly profitable business Organic sales CAGR1 Share of sustainable Service sales to solutions sales2 to grow increase from ~€2.0bn in >5% from 41.5% in 2023 to >60% 2024E to ~€2.9bn in 2030E >€7bn Order Intake from
Slide 17: … and VALUE.
… and VALUE. 3 Mission 30: Ambitious plan for growing and highly profitable business GROWTH. EBITDA margin increase of Growing Service business (CAGR >6%) will ~3pp contribute to further volume & margin expansion ~1.5% ~3.5% Increase of digital solutions & launch of ~1.5% 17-19% new products as well
Slide 18: COGS Program to deliver substantial impact
COGS Program to deliver substantial impact 3 Mission 30: Ambitious plan for growing and highly profitable business Functional areas Core Programs Production Production Optimization ~€120m NextGen Production Workforce Productivity Engineering & Direct Procurement Excellence Procurement Value Engineer
Slide 19: G&A improvements will significantly contribute to profitability
G&A improvements will significantly contribute to profitability 3 Mission 30: Ambitious plan for growing and highly profitable business ~1.5pp 11.4% Mission 30: < 10.0% G&A improvement potential: ~€100m G&A ratio 2023 Transform360 Simplification Growth leverage Regulatory & strategic items G&A ratio
Slide 20: GEA Group – a compelling investment
GEA Group – a compelling investment 1 Leading positions in attractive and resilient markets 2 Sustainability pioneer Mission 30: Ambitious plan for growing and highly 3 profitable business 4 Strong Free Cash Flow generation potential 5 Attractive shareholder return Roadshow Presentation 20
Slide 21: Efficient and value-generating capex investment
Efficient and value-generating capex investment 4 Strong Free Cash Flow generation potential Capex/Sales ratio (%) Target range for 2030E 6% Continuous reduction 4.4% from 2025 onwards 5% 4.2% 3.9% 4% 3% 2.8% 2.8% 2.5 – 3.0% 2.1% 2% 1% 2019 2020 2021 2022 2023 2024 2030E Capex 137 98 130 204 228 237
Slide 22: NWC will continue to improve
NWC will continue to improve and contribute to … 4 Strong Free Cash Flow generation potential NWC/Sales ratio (%) Active Net Working Capital management 17.2 18 ▪ Significant improvement of all 16 Net Working Capital elements since 2019 14.0 14 ▪ Since the end of 2021, ongoing management of headwinds
Slide 23: A significant impact on Free Cash Flow
… a significant impact on Free Cash Flow 4 Strong Free Cash Flow generation potential Free Cash Flow (2019-2023): Free Cash Flow (2024-2030E): €2.2bn >€4bn €342m €505m €337m Higher Free Cash Flow due to higher EBITDA, lower CAPEX Target Cash and NWC Conversion Rate2 in 2030E >60% Cash Conversion Rat
Slide 24: Disciplined capital allocation supporting GROWTH. and VALUE.
Disciplined capital allocation supporting GROWTH. and VALUE. 4 Strong Free Cash Flow generation potential ▪ Efficient and value-generating capital expenditure CAPEX ▪ Support GROWTH. ▪ Attractive dividend payouts Dividends ▪ VALUE. for shareholders: will benefit from rising earnings Commitment to in
Slide 25: GEA Group – a compelling investment
GEA Group – a compelling investment 1 Leading positions in attractive and resilient markets 2 Sustainability pioneer Mission 30: Ambitious plan for growing and highly 3 profitable business 4 Strong Free Cash Flow generation potential 5 Attractive shareholder return Roadshow Presentation 25
Slide 26: Our shareholders participate in our success
Our shareholders participate in our success 5 Attractive shareholder return Dividend per share (€)1 Updated dividend policy 1.00 1.15 0.95 0.90 ▪ Distribute approx. 50% of net profit 0.85 0.85 0.85 (as reported) ▪ Dividend expected to increase YoY 2019 2020 2021 2022 2023 2024 2025 2026E 2030E to re
Slide 27: Total shareholder return since 2019
Total shareholder return since 2019 5 Attractive shareholder return 300% 250% GEA +232.3% 200% 150% DAX +126.9% DAX 50 ESG 100% +110.1% STOXX TMI +104.6% 50% 0% -50% Dec 18 Dec 19 Dec 20 Dec 21 Dec 22 Dec 23 Dec 24 GEA‘s share price performance is calculated on a total return basis incl. dividends t
Slide 28: We are taking the next steps on our journey to Mission 30
We are taking the next steps on our journey to Mission 30 We are reshaping our organization to accelerate growth and boost agility Q3 2025 Results 28
Slide 29: Our organization today
Our organization today Our organization has enabled our success, but … … there is a lot of Executive Board CEO CFO COO untapped potential: We need to improve Divisions SFT LPT HRT FHT FT our organizational effectiveness Regions DACHEE & WEMEA & and NAM APAC NCE LAM Countries Our matrix structure Glo
Slide 30: Global Executive Committee replaced by 6-member Executive Board
Our 14-member Global Executive Committee (GEC) will be dissolved and replaced by our 6-member Executive Board Reducing complexity in the matrix Regional CEOs and Regional and decreasing costs, CFOs are not part of the future contributing to our Mission 30 operating model G&A targets Q3 2025 Results
Slide 31: New Executive Board and organization as of Jan 1, 2026
New Executive Board and organization as of Jan 1, 2026: Stefan Alexander Dr. Nadine Kai Klaus Peter Johannes Klebert Kocherscheidt Sterley Becker Stojentin Lauwers Giloth People & Pure Flow Nutrition Plant Pharma & Food CEO CFO Sustainability Processing Engineering Applications COO As of Nov 1, 2025
Slide 32: Our new organizational structure will enable us to …
Our new GEA organizational structure will enable us to … Reduce complexity in the matrix and decrease costs • Savings 2026: €10-15m… • … growing to €20-25m in 2027 • Total one-off restructuring expenses of €15-25m in 2025/26 Accelerate growth and boost customer centricity Unleash opportunities in Ch
Slide 33: Pulse check conducted two weeks after announcement
Pulse check conducted two weeks after announcement All managers have been asked: Do you think we are going in the right direction with the organizational changes? 6% 94% No Yes Q3 2025 Results 33
Slide 34: Q3 2025 Results
Q3 2025 Results
Slide 35: Executive Summary Q3 2025
Executive Summary Q3 2025 Accelerated growth in order intake & sales; profitability increased again Δ Δ €m Q3 25 Q3 24 reported organic Three large orders (>€15m) totaling €64m vs. one large order in Order intake 1,372 1,301 5.5% 8.4% Q3 24 of €59m Strong organic service sales and solid organic new
Slide 36: Strong EBITDA performance in 9M and Q3 2025
Strong EBITDA1 performance in 9M and Q3 2025 Solid divisional gross profit development despite mixed sales performances 9M 25 EBITDA1 growth contribution by divisions in €m Q3 25 EBITDA1 growth contribution by divisions in €m -1 232 -3 6 1 -13 647 28 5 10 8 21 598 217 2 0 Sales Sales Sales Sal
Slide 37: Solid Net Working Capital performance
Solid Net Working Capital performance NWC/sales ratio within the guided corridor ▪ YoY NWC reduction mainly due to a combination of lower contract assets and higher trade payables overcompensating the increase in trade receivables 800 €m 20% ▪ Lower contract assets fully compensate decline in contra
Slide 38: Solid Cash Flow in Q3 2025
Solid Cash Flow in Q3 2025 FCF Free Cash Flow Q3 25, €m ▪ NWC -€43m: outflow mainly driven by -43 higher trade receivables -43 ▪ Positive FCF of €52m -2 -24 232 -68 120 1 -17 52 -6 30 EBITDA Delta NWC Taxes Cash-out Others Operating Capex Others Free Cash Lease Interests Net Cash before Restructurin
Slide 39: Good order intake development
Good order intake development Order 6,500 intake rolling L4Q in €m 6,000 6,500 5,679 5,716 5,694 5,694 5,593 5,615 5,570 5,553 5,603 5,623 5,484 5,469 5,500 5,254 5,215 6,000 5,162 5,000 5,500 4,500 4,000 5,000 3,500 4,500 3,000 2,500 4,000 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24
Slide 40: Guidance for FY 2025 confirmed
Guidance for FY 2025 confirmed Organic sales growth EBITDA margin ROCE1 (currency and portfolio adjusted) (Before restructuring expenses) (Before restructuring expenses) % YoY % % 2.0-4.0 16.2-16.4 34.0-38.0 (FY 2024: 4.6%) (FY 2024: 15.4%) (FY 2024: 33.8%) For divisional guidance, please refer to s
Slide 41: Engineering for a better world. GEA.com
| Engineering for a better world. GEA.com
Slide 42: Divisional guidance FY 2025
Divisional guidance FY 2025 Revenue development (organic1) Forecast for 2025 2024 EBITDA margin before restructuring Forecast for 2025 2024 Separation & Flow Technologies +0.0% to +3.0% €1,581m Separation & Flow Technologies 27.5% to 29.5% 27.4% Liquid & Powder Technologies +2.0% to +6.0% €1,674m Li
Slide 43: Additional financial information for FY 2025
Additional financial information for FY 2025 Depreciation & Financial result Tax rate Capex Amortization (incl. PPA, IFRS 16)1 around around around around €210m -€35m 29%2 €255m thereof impact from PPA around €10m 1 Before restructuring expenses I 2 Estimation does not include a potential additional
Slide 44: We aim to grow much faster than 5% for specific verticals (1/2)
We aim to grow much faster than 5% for specific verticals (1/2) Division Technology Vertical Focus Regions GEA CAGR GEA Sales in Europe NAM APAC LAM (%)1;2 2030E (€m)2 LPT, SFT, Various New Food 30% <50 50-150 >150 FHT Food & Beverage HRT, LPT Heat Pumps (NEXUS) 15-20% <50 50-150 >150 Separators, V&
Slide 45: We aim to grow much faster than 5% for specific verticals (2/2)
We aim to grow much faster than 5% for specific verticals (2/2) Division Technology Vertical Focus Regions GEA CAGR GEA Sales in Europe NAM APAC LAM (%)1;2 2030E (€m)2 HRT Heat Pumps District Heating 40-45% <50 50-150 >150 SFT Decanters Environmental 5-10% <50 50-150 >150 2 FT Software Dairy Farming
Slide 46: GROWTH. VALUE. on divisional level
GROWTH. VALUE. on divisional level Organic sales CAGR Organic sales CAGR EBITDA1 margin target EBITDA margin target 2022-2026E 2025-2030E 2026E 2030E GEA Group 4.0% - 6.0% >5.0% >15.0% 17.0%-19.0% Separation & Flow Technologies 4.0% - 5.0% 4.0% - 5.0% 24.0% - 26.0% 26.0%-29.0% Liquid & Powder Techno
Slide 47: Restructuring is coming to an end
Restructuring is coming to an end PROFITABILITY ADJUSTMENTS BASED ON WITHOUT RESTRUCTURING RESTRUCTURING MEASURES 2026 ADJUSTMENTS 2030 New Food Service Sustainability Excellence Accelerating Innovation & Growth & Acquisitions New organization Digitalization Profitability From 2027 onwards Operation
Slide 48: Strong contribution for VALUE. investment opportunities
Strong contribution for VALUE. investment opportunities Improved financial profile recognized by rating agencies – significant firepower for M&A Rating Leverage (x EBITDA) 3.6 Moody’s Baa2 Baa1 2.9 Outlook 2.2 Moody’s negative stable positive stable 1.5 1.3 1.4 Moody´s definition 2019 2020 2021 2022
Slide 49: GEA – development since new management took over
GEA – development since new management took over Sales (€m) EBITDA2 margin % Organic sales growth1 >5% CAGR1 >7,000 5,373 5,422 17-19% 5,165 4,880 4,635 4,703 14.4% 15.4% 13.8% 13.3% 8.9% 8.4% 3.7% 11.5% 9.8% CMD-21 target of CMD-21 target of 4-6% organic >15% margin sales CAGR exceeded with 7.0% ac
Slide 50: GEA – development since new management took over
GEA – development since new management took over Net working capital (€m) Capex (€m) Net working capital/sales ratio (%) Capex/sales ratio (%) 1,200 14.0% 350 15% 4.4% 5% 1,100 Guided corridor 4.2% 1,000 7%-9% 3.9% 2.5-3.0% 900 4% 250 228 237 800 682 10% 204 700 7.9% 2.8% 2.8% 3% 600 6.1% 6.4% 6.0%
Slide 51: Impact
Our purpose: Engineering for a better world Impact Responsible Innovation Resilient Operations Thriving Employees Our contribution & Communities Our targets ▪ Reduce greenhouse gas ▪ Reduce greenhouse gas ▪ 80% favorable rating of emissions scope 3 by 27.5% emissions scope 1 & 2 by 60% Employee Surv