Gea Group Aktiengesellschaft · XETR:G1A
Gea Group Aktiengesellschaft — Gea Group Ag Ord — Q1 2025 Earnings Presentation
41 slides from Gea Group Aktiengesellschaft's earnings presentation, May 8, 2025
Slide 1: Q1 2025 Results
Q1 2025 Results Stefan Klebert, CEO Bernd Brinker, CFO Düsseldorf, May 8, 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: Highlights Q1 2025
Highlights Q1 2025 Stefan Klebert, CEO Q1 2025 Results 3
Slide 4: GEA with strong financial KPIs in Q1 2025
GEA with strong financial KPIs in Q1 2025 Q1 2025 Q1 2024 ∆ YoY Order Intake €1,415m €1,365m +3.7% +3.4% organic Sales €1,258m €1,241m +1.4% +0.9% organic EBITDA1 €198m +9.8% EBITDA1 margin 15.8% +1.2%p ROCE1,2 34.9% +2.6%p 1 Before restructuring expenses I 2 Capital Employed as average of L4Q Q1 20
Slide 5: Latest share buyback program successfully completed
Latest share buyback program successfully completed Program duration from 7 Nov 2023 - 11 April 2025 Cash-out for share buybacks since 2021 in €m Σ 300 400 Total volume: €400 million 230 Average price paid: €41.98 206 # shares bought back: 9,529,412 ~120 (5.53% shares outstanding) 94 1 53 Shares wil
Slide 6: Update on U.S. tariffs
Update on U.S. tariffs Limited exposure for GEA GEA’s U.S. exposure U.S. sales split in FY 2024 ▪ U.S. accounted for ~18% of our sales in 2024, thereof ~1/3 were generated with products imported (mainly imported from rest of World Europe; >50% from Germany) imported from ▪ ~90% of procurement spend1
Slide 7: Business & Financial Review Q1 2025
Business & Financial Review Q1 2025 Bernd Brinker, CFO Q1 2025 Results 7
Slide 8: Executive Summary Q1 2025
Executive Summary Q1 2025 Solid top-line growth & strong margin improvement Δ Δ €m Q1 25 Q1 24 reported organic Three large orders (>€15m) totaling €83m vs. two large orders Order intake 1,415 1,365 3.7% 3.4% in Q1 24 of €51m Strong growth in service sales; decline in organic new machine Sales 1,258
Slide 9: GEA Group
GEA Group Q1 25: Solid order intake, strong service sales growth & EBITDA1 margin increase Order Intake, €m Organic order intake 3.4% YoY − Organic order intake growth in all divisions except for Heating 1,598 & Refrigeration Technologies 1,365 1,289 1,301 1,415 − Growth particularly in base order
Slide 10: Division Separation & Flow Technologies (SFT)
Division Separation & Flow Technologies (SFT) Q1 25: Solid top-line growth & further EBITDA1 margin expansion Order Intake, €m Organic order intake 1.7% YoY 442 − Orders between €1m and €5m were the main growth 402 389 411 378 contributors − Growth driven by customer industry Dairy Processing Sale
Slide 11: Division Liquid & Powder Technologies (LPT)
Division Liquid & Powder Technologies (LPT) Q1 25: Solid order intake & significant profitability expansion Order Intake, €m Organic order intake 4.8% YoY − Three large orders (>€15m) totaling €83m in Dairy Processing vs. one large order of €31m in Beverage last year 582 389 400 427 407 − Growth m
Slide 12: Division Food & Healthcare Technologies (FHT)
Division Food & Healthcare Technologies (FHT) Q1 25: Solid top-line growth & another sequential EBITDA1 margin improvement Order Intake, €m Organic order intake 4.2% YoY 302 − YoY growth despite no large order (Q1 24: one large order of 268 259 254 238 €20m in Pharma) − Growth in customer industry
Slide 13: Division Farm Technologies (FT)
Division Farm Technologies (FT) Q1 25: Strong order intake increase; sales & profitability down due to low order intake in 2024 Order Intake, €m Organic order intake 7.2% YoY - Strong development in orders below €1m and between €1m 199 214 and €5m in size 185 158 161 - Growth in conventional milki
Slide 14: Division Heating & Refrigeration Technologies (HRT)
Division Heating & Refrigeration Technologies (HRT) Q1 25: Strong sales growth & further EBITDA1 margin expansion Order Intake, €m Organic order intake -1.3% YoY − Strong development in base orders <€1m was offset by lower volume of orders between €1m and €15m 163 142 151 150 163 − Growth in custo
Slide 15: Another strong EBITDA performance
Another strong EBITDA1 performance Almost all divisions with an increase in gross profit Q1 25 EBITDA1 growth contribution by divisions in €m -6 9 2 -7 198 11 Sales Sales Sales GP GP GP Op. Cost Op. Cost Op. Cost 9 Sales 181 GP Op. Cost Sales GP Op. Cost EBITDA Q1 24 1
Slide 16: Strong Net Working Capital performance
Strong Net Working Capital performance NWC/sales ratio favorably at the bottom of the new guided corridor ▪ YoY NWC reduction mainly due to a combination of lower inventories, higher trade payables and lower trade receivables ▪ Seasonal QoQ NWC uptick less pronounced due to significant 800 €m 20% re
Slide 17: Very strong financial profile despite cash-out for share buyback
Very strong financial profile despite cash-out for share buyback FCF Free Cash Flow Q1 25, €m ▪ NWC -€61m: outflow driven by lower -61 trade payables and higher inventories -33 -2 ▪ Others: mainly related to variable 198 compensation-related outflows in March -120 2025 for FY 2024 -18 -49 ▪ 63% of E
Slide 18: Outlook FY 2025
Outlook FY 2025 Stefan Klebert, CEO Q1 2025 Results 18
Slide 19: 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 5,593 5,615 5,570 5,553 5,603 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 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q1 20
Slide 20: 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 % % 1.0-4.0 15.6-16.0 30.0-35.0 (FY 2024: 3.7%) (FY 2024: 15.4%) (FY 2024: 33.8%) For divisional guidance please refer to sl
Slide 21: Roadmap for 2025
Roadmap for 2025 August 7, November 6, Today 2025 2025 Q1 Q2 Q3 2025 2025 2025 Q1 2025 Results 21
Slide 22: Appendix
Appendix Q1 2025 Results 22
Slide 23: GEA – Q1 2025 figures
GEA – Q1 2025 figures Sales by Customer Industry (L4Q) [in €m] Q1 24 Q1 25 Δ YoY L4Q Q1 24 L4Q Q1 25 Δ YoY Order Intake 3,7% 6,6% 1.365,0 1.414,8 5.253,7 5.602,9 Organic 1 3,4% 8,6% 13% Dairy Farming -3% YoY 16% Dairy Processing 7% YoY Sales 1,4% 1,8% Food 2% YoY 1.241,2 1.258,4 5.343,8 5.439,4 Orga
Slide 24: Separation & Flow Technologies – Q1 2025 figures
Separation & Flow Technologies – Q1 2025 figures Sales by Customer Industry (L4Q) [in €m] Q1 24 Q1 25 Δ YoY L4Q Q1 24 L4Q Q1 25 Δ YoY Order Intake 2,3% 8,0% 402,2 411,3 1.501,3 1.620,8 0% Dairy Farming n.a. Organic 1 1,7% 12,3% 21% Dairy Processing 4% YoY Sales 6,1% 7,1% 29% Food 29% YoY 356,6 378,5
Slide 25: Liquid & Powder Technologies – Q1 2025 figures
Liquid & Powder Technologies – Q1 2025 figures Sales by Customer Industry (L4Q) [in €m] Q1 24 Q1 25 Δ YoY L4Q Q1 24 L4Q Q1 25 Δ YoY Order Intake 4,7% 11,3% 388,7 406,8 1.631,2 1.815,4 1% Organic 1 4,8% 12,3% Dairy Farming -61% YoY 0% Dairy Processing 10% YoY 21% Sales -2,6% -2,8% Food -5% YoY 374,2
Slide 26: Food & Healthcare Technologies – Q1 2025 figures
Food & Healthcare Technologies – Q1 2025 figures Sales by Customer Industry (L4Q) [in €m] Q1 24 Q1 25 Δ YoY L4Q Q1 24 L4Q Q1 25 Δ YoY Order Intake 3,6% 2,8% 0% 258,6 267,8 1.033,1 1.061,6 0% Dairy Farming 32% YoY Organic 1 4,2% 2,8% 21% Dairy Processing n.a. Sales 5,6% -0,1% Food -1% YoY 238,0 251,2
Slide 27: Farm Technologies – Q1 2025 figures
Farm Technologies – Q1 2025 figures Sales by Customer Industry (L4Q) [in €m] Q1 24 Q1 25 Δ YoY L4Q Q1 24 L4Q Q1 25 Δ YoY Order Intake 7,8% -2,1% 198,7 214,2 733,7 718,6 Organic 1 7,2% 1,2% Dairy Farming -4% YoY Dairy Processing n.a Sales -11,0% -4,1% Food n.a 187,2 166,6 784,9 752,6 Organic 1 -11,4%
Slide 28: Heating & Refrigeration Technologies – Q1 2025 figures
Heating & Refrigeration Technologies – Q1 2025 figures Sales by Customer Industry (L4Q) [in €m] Q1 24 Q1 25 Δ YoY L4Q Q1 24 L4Q Q1 25 Δ YoY Order Intake 0,1% 8,5% 162,6 162,7 558,5 606,3 2% Organic 1 -1,3% 7,6% Dairy Farming n.a 17% Dairy Processing -19% YoY Sales 8,0% 9,1% Food -18% YoY 138,8 149,9
Slide 29: Service sales
Service sales 592 529 60 512 514 525 477 488 57 465 472 55 59 55 102 51 50 51 54 87 91 96 98 86 90 98 89 90 96 86 90 91 79 82 84 InsertPicture 86 128 108 109 104 102 104 111 90 101 197 223 174 175 180 180 194 191 161 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 SFT LPT FHT FT HRT Figures ar
Slide 30: Order Intake development Q1 2025
Order Intake development Q1 2025 by division YoY change In €m Q1 24 Δ M&A Δ FX Δ Organic Q1 25 Seperation & Flow 0 2 7 411 402 Technologies 0.0% 0.6% 1.7% 2.3% Liquid & Powder 0 -1 19 407 389 Technologies 0.0% -0.2% 4.8% 4.7% Food & Healthcare -4 2 11 268 259 Technologies -1.4% 0.8% 4.2% 3.6% 0 1 14
Slide 31: Sales development Q1 2025
Sales development Q1 2025 by division YoY change In €m Q1 24 Δ M&A Δ FX Δ Organic Q1 25 Seperation & Flow 0 2 20 379 357 Technologies 0.0% 0.7% 5.5% 6.1% Liquid & Powder 0 1 -11 364 374 Technologies 0.0% 0.2% -2.8% -2.6% Food & Healthcare -1 2 13 251 238 Technologies -0.6% 0.8% 5.4% 5.6% 0 1 -21 167
Slide 32: Order intake split as of Q1 2025 L4Q
Order intake split as of Q1 2025 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 18% 1,06 China 8% 1,01 Germany 8% 1,00 Poland 3% 1,15 Netherlands 4% 1,07 India 3% 1,16 United Kingdom 3% 0,76 Mexico 3%
Slide 33: FX development
FX development FX rates Mar % total Mar YTD Δ FX YoY Mar 2025 vs Currency YTD * Mar 2024 (average) EUR 44% - - USD 20% 1,05 -3% CNY 6% 7,66 -2% GBP 4% 0,84 -2% DKK InsertPicture 3% 7,46 0% PLN 3% 4,20 -3% INR 2% 91,14 1% NZD 2% 1,85 5% BRL 2% 6,16 15% CAD 2% 1,51 3% JPY 1% 160,45 0% *Share of functi
Slide 34: Strong financial position and solid financial flexibility
Strong financial position and solid financial flexibility Maturity structure cash credit lines (€m) Finance KPIs End of End of €m Δ Maturity/Year Limit Utilized Comments Q1 25 Q1 24 Committed syndicated liquidity Cash and cash equivalents 371 482 back-up credit facility of 2028 650 0 Short-term in
Slide 35: 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 -€30m 29%2 €235m thereof impact from PPA around €10m 1 Before restructuring expenses I 2 Estimation does not include a potential additional
Slide 36: 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 26.5% to 28.5% 27.4% Liquid & Powder Technologies +2.0% to +6.0% €1,674m Li
Slide 37: Historical timeline (1/4)
Historical timeline (1/4) Order Intake €m Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 SFT 409 420 368 341 1.537 457 378 351 370 1.556 402 389 378 442 1.612 411 LPT 526 402 459 478 1.865 511 453 411 379 1.754 389 400 427 582 1.797 407 FHT 273 282 25
Slide 38: Historical timeline (2/4)
Historical timeline (2/4) Order Backlog €m Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 SFT 572 650 652 592 592 670 663 617 594 594 633 634 598 612 612 616 LPT 1.508 1.500 1.541 1.496 1.496 1.599 1.598 1.581 1.445 1.445 1.472 1.440 1.402 1.515 1.515
Slide 39: Historical timeline (3/4)
Historical timeline (3/4) Depreciation & amortization2 €m Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 SFT (10) (10) (10) (12) (42) (10) (11) (11) (12) (44) (12) (12) (13) (14) (52) (13) LPT (8) (8) (8) (9) (34) (8) (8) (9) (10) (35) (8) (8) (8) (10
Slide 40: Historical timeline (4/4)
Historical timeline (4/4) EBIT €m Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 SFT 71 57 82 79 288 83 87 94 84 348 82 89 94 107 372 90 LPT 18 31 40 36 125 19 31 36 46 132 12 23 39 39 114 27 FHT 10 10 18 21 59 10 1 4 (7) 9 9 13 12 3 36 18 FT 2 13 19
Slide 41: GEA.com
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