Gea Group Aktiengesellschaft · XETR:G1A
Gea Group Aktiengesellschaft — GEA Group — Non-Deal Roadshow (May 2026)
47 slides from Gea Group Aktiengesellschaft's roadshow presentation, May 2026
Slide 1: GEA Group AG Roadshow presentation
GEA Group AG Roadshow presentation Düsseldorf, May 2026
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 2025 18,628 5,495 907 16.5 5,924 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 Strong and sustainable business model and markets 2 Sustainability leader 3 Compelling plan for accelerating profitable growth 4 Strong cash generation 5 Attractive shareholder return Roadshow Presentation 4
Slide 5: GEA Group – part of everyday life
GEA Group – part of everyday life 1 Strong and sustainable business model and 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 pr
Slide 6: Leading market positions across all divisions
GEA Group – leading market positions across all divisions 1 Strong and sustainable business model and markets #1-31 #1-31 #2-41 #1-21 Pure Flow Nutrition Plant Pharma & Food Farm Technologies Processing Engineering Applications Sales (in %) €1,953m Sales (in %) €1,955m Sales (in %) €1,058m Sales (in
Slide 7: Diversification as key to success
GEA Group – diversification as key to success 1 Strong and sustainable business model and 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 & Bev
Slide 8: GEA Group – a compelling investment
GEA Group – a compelling investment 1 Strong and sustainable business model and markets 2 Sustainability leader 3 Compelling plan for accelerating profitable growth 4 Strong cash generation 5 Attractive shareholder return Roadshow Presentation 8
Slide 9: GEA – leader in Sustainability
GEA – leader 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 reco
Slide 10: Creating more resource-efficient solutions
Processes of our customers Transformation of GEA’s product portfolio are highly energy consuming Creating more resource-efficient solutions With our R&D Provision and expansion of resource-efficient products Digital solutions for energy efficiency Heat and energy recovery solutions activities we aim
Slide 11: Measurable impact: GEA solutions driving decarbonization
Measurable impact: GEA solutions driving decarbonization 2 Sustainability pioneer – Customer examples Heineken, UK: Heat pump solution supporting net zero Arla Foods, Denmark: AddCool® heat pumps cutting CO₂ Nestlé, Netherlands: 75% less energy due to heat ambition across its production sites by 203
Slide 12: Increasing the share of sustainable solutions
Our commitment at GEA is to increase the share of sustainable solutions1 2030 2025 >60% 45.7% Thereof 42.3% 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 Strong and sustainable business model and markets 2 Sustainability leader 3 Compelling plan for accelerating profitable growth 4 Strong cash generation 5 Attractive shareholder return Roadshow Presentation 14
Slide 15: Mission 30: Our plan for enduring success
Mission 30: Our plan for enduring success 3 Compelling plan for accelerating profitable growth Impact. Resilient communities Thriving employees Responsible innovation >5% 17-19% >45% Organic sales EBITDA margin ROCE CAGR Growth. Value. Future-ready portfolio Optimized cost structures in key geograph
Slide 16: Mission 30: GROWTH. Our targets
Mission 30: GROWTH. Our targets 3 Compelling plan for accelerating profitable growth Share of sustainable solutions Service sales increase sales2 >60% to ~€2.9bn ▪ 45.7% in 2025 (2024: 41.6%) ▪ €2.2bn in 2025 ▪ 42.3% EU taxonomy-aligned sales (2024: €2.1 bn) ▪ >9% Add Better sales ▪ 6.8% organic gro
Slide 17: … and VALUE. Compelling plan for accelerating profitable growth
… and VALUE. 3 Compelling plan for accelerating profitable growth 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 as operating lever
Slide 18: COGS Program to deliver substantial impact
COGS Program to deliver substantial impact 3 Compelling plan for accelerating profitable growth Functional areas Core Programs Production Production Optimization ~€120m NextGen Production Workforce Productivity Engineering & Direct Procurement Excellence Procurement Value Engineering net EBITDA cont
Slide 19: G&A improvements will significantly contribute to profitability
G&A improvements will significantly contribute to profitability 3 Compelling plan for accelerating profitable growth ~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 2030E through Auto
Slide 20: GEA Group – a compelling investment
GEA Group – a compelling investment 1 Strong and sustainable business model and markets 2 Sustainability leader 3 Compelling plan for accelerating profitable growth 4 Strong cash generation 5 Attractive shareholder return Roadshow Presentation 20
Slide 21: Efficient and value-generating capex investment
Efficient and value-generating capex investment 4 Strong cash generation Capex/Sales ratio (%) Target range for 2030E 6% Continuous reduction 5% 4.4% 4.6% from 2025 onwards 4.2% 3.9% 4% 3% 2.8% 2.8% 2.5 – 3.0% 2.1% 2% 1% 2019 2020 2021 2022 2023 2024 2025 2026 2030E Capex 137 98 130 204 228 237 255
Slide 22: NWC will continue to improve
NWC will continue to improve and contribute to … 4 Strong cash generation 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 due to global suppl
Slide 23: A significant impact on Free Cash Flow
… a significant impact on Free Cash Flow 4 Strong cash generation Free Cash Flow (2024-2030E): Cash conversion rate1 >€4bn Target cash conversion rate 64% in 2030E >60% 59% 50% 47% 512 505 337 296 2022 2023 2024 2025 2026 2027 2028 2029 2030 1 Cash conversion rate (CCR) is defined as FCF of the last
Slide 24: Disciplined capital allocation supporting GROWTH. and VALUE.
Disciplined capital allocation supporting GROWTH. and VALUE. 4 Strong cash generation ▪ Efficient and value-generating capital expenditure CAPEX ▪ Support GROWTH. ▪ Attractive dividend payouts Dividends ▪ VALUE. for shareholders: will benefit from rising earnings Commitment to investment ▪ ~€2bn fir
Slide 25: GEA Group – a compelling investment
GEA Group – a compelling investment 1 Strong and sustainable business model and markets 2 Sustainability leader 3 Compelling plan for accelerating profitable growth 4 Strong cash generation 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 (€) Updated dividend policy 1.30 1.15 1.00 0.95 0.90 ▪ Distribute approx. 50% of net profit 0.85 0.85 0.85 (as reported) ▪ Dividend expected to increase YoY 2018 2019 2020 2021 2022 2023 2024 2025 2030E to
Slide 27: Total shareholder return since 2019
Total shareholder return since 2019 5 Attractive shareholder return 300% 250% GEA +226.0% 200% DAX 150% +131.4% STOXX TMI +127.4% DAX 50 ESG 100% +123.8% 50% 0% -50% Dec 18 Dec 19 Dec 20 Dec 21 Dec 22 Dec 23 Dec 24 Dec 25 GEA‘s share price performance is calculated on a total return basis incl. divi
Slide 28: Q1 2026 Results
Q1 2026 Results
Slide 29: Q1 26: Strong organic top-line growth & another YoY EBITDA margin increase
GEA Group Q1 26: Strong organic top-line growth & another YoY EBITDA1 margin increase Order Intake, €m Organic order intake 6.4% YoY − Organic order intake growth in all divisions except for Nutrition 1,828 Plant Engineering 1,454 1,415 1,309 1,372 − Growth in customer industries Dairy Processing,
Slide 30: Resilient EBITDA performance continued
Resilient EBITDA1 performance continued Q1 26 EBITDA1 growth contribution by divisions in €m -1 206 12 3 198 -8 2 1 1 EBITDA Q1 25 PFP NPE PFA FT Other / Cons. EBITDA Q1 26 1 Before restructuring expenses Roadshow Presentation 30
Slide 31: Net Working Capital performance
Net Working Capital performance NWC/sales ratio favorably at the bottom of the guided corridor ▪ YoY NWC remained stable; increase in contract liabilities on the back of high large order volume in L4Q ▪ Seasonal QoQ NWC uptick 1,000 €m 20% ▪ NWC ratio with 7.0% at the lower end of the guided corrido
Slide 32: Solid net cash position
Solid net cash position FCF Free Cash Flow Q1 26, €m ▪ NWC -€206m: outflow driven by lower trade payables and higher inventories 206 -206 ▪ Others: mainly related to variable compensation-related outflows in March -33 -1 -125 2026 for FY 2025 -90 -190 -214 -33 -32 -19 -5 EBITDA Delta NWC Taxes Cash-
Slide 33: Guidance for FY 2026 confirmed
Guidance for FY 2026 confirmed Organic sales growth EBITDA margin ROCE1 (currency and portfolio adjusted) (Before restructuring expenses) (Before restructuring expenses) % YoY % % 5.0-7.0 16.6-17.2 34.0-38.0 (FY 2025: 3.7%) (FY 2025: 16.5%) (FY 2025: 36.2%) For divisional guidance, please refer to s
Slide 34: Conflict in Middle East: No material direct impact
Conflict in Middle East: No material direct impact Middle East Syria Lebanon Iraq Iran Share of order intake Israel Jordan ~3% Kuwait Egypt Qatar Bahrain UAE Production sites none Saudi Arabia Oman Yemen FTEs ~70 From today’s point of view, the military confrontations in the Middle East are not expe
Slide 35: No material indirect implications of conflict in Middle East
No material indirect implications of conflict in Middle East Energy prices: ▪ Low energy-intensity Pro-active approach with ▪ <€30m energy bill in 2025 suppliers and own counter ▪ Majority of energy consumption already secured under fixed-price agreements until the end of the year measures Procureme
Slide 36: Engineering for a better world
| Engineering for a better world. GEA.com
Slide 37: Average annual organic growth delivered in all time periods
Average annual organic growth delivered in all time periods Organic order intake growth1 Organic sales growth1 % Average annual organic growth 2019 2020 2021 2022 2023 2024 2025 2019 2020 2021 2022 2023 2024 2025 -0.6% -2.2% 14.0% 7.6% 0.8% 4.6% 9.1% 0.1% -2.6% 4.3% 8.9% 8.4% 3.7% 3.7% 5.5% 6.2% 7.2
Slide 38: Divisional guidance FY 2026
Divisional guidance FY 2026 Revenue development (organic1) Forecast for 2026 2025 EBITDA margin before restructuring Forecast for 2026 2025 Pure Flow Processing +2.5% to +5.0% €1,953m Pure Flow Processing 26.5% to 28.5% 26.9% Nutrition Plant Engineering +7.0% to +9.0% €1,955m Nutrition Plant Enginee
Slide 39: Additional financial information for FY 2026
Additional financial information for FY 2026 Depreciation & Financial result Tax rate Capex R&D (as % of sales) Amortization (incl. PPA, IFRS 16)1 around around between around around €230m -€30m 28-30%2 €240m 3% thereof impact from PPA around €10m 1 Before restructuring expenses I 2 Estimation does
Slide 40: Balance sheet
Balance sheet Assets Equity and liabilities (EUR million) 03/31/2026 12/31/2025 Δ abs. (EUR million) 03/31/2026 12/31/2025 Δ abs. Property, plant and equipment 1,007 998 9 Equity 2,598 2,453 145 Goodwill 1,497 1,480 17 Non-current provisions 144 144 0 Other intangible assets 464 454 10 Non-current e
Slide 41: 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 42: 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 FT Software Dairy Farming 2
Slide 43: Mission 30 targets NEW divisions
Mission 30 targets NEW divisions Organic sales CAGR EBITDA margin target 2025-2030E 2030E GEA Group No change >5.0% 17.0%-19.0% Former Separation & Flow Technologies Pure Flow Processing + Business Unit Components from 4.5% - 5.5% 25.5%-27.5% Heating & Refrigerations Technologies Former Liquid & Pow
Slide 44: 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) Moody’s Baa2 Baa1 2.9 Outlook 2.2 Moody’s negative stable positive stable 1.5 Moody´s definition 1.3 1.3 1.3 2020 2021 2022 2023
Slide 45: GEA – development
GEA – development Sales (€m) EBITDA2 margin % Organic sales growth1 >5% CAGR1 >7,000 5,422 5,495 17.0-19.0% 5,165 5,373 16.5% 4,635 4,703 15.4% 14.4% 13.3% 13.8% 8.9% 8.4% 3.7% 3.7% 11.5% CMD-21 target of CMD-21 target of 4-6% organic >15% margin sales CAGR exceeded with 7.0% achieved (2022-2024) 20
Slide 46: GEA – development
GEA – development Net working capital (€m) Capex (€m) Net working capital/sales ratio (%) Capex/sales ratio (%) 1,200 350 10% 4.4% 4.6% 5% 1,100 Guided corridor 4.2% 1,000 7.9% 3.9% 2.5-3.0% 7%-9% 8% 255 4% 900 6.0% 250 228 237 800 6.1% 6.4% 204 700 5.1% 6% 2.8% 600 3.2% 3% 500 150 4% 2.1% 130 400 3
Slide 47: 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 Employee emissions scope 3 by 27.5% emissions scope 1 & 2 by 60% Surv