Gea Group Aktiengesellschaft · XETR:G1A
Gea Group Aktiengesellschaft — GEA Group — Q3 2025 Earnings Presentation
47 slides from Gea Group Aktiengesellschaft's earnings presentation, Nov 6, 2025
Slide 1: Q3 2025 Results
Q3 2025 Results Stefan Klebert, CEO Alexander Kocherscheidt, CFO Düsseldorf, November 6, 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 Q3 2025
Highlights Q3 2025 Stefan Klebert, CEO Q3 2025 Results 3
Slide 4: We are DAX 40 constituent since 22nd of September
We are DAX 40 constituent since 22nd of September © Image: Deutsche Börse / Martin Joppen Q3 2025 Results 4
Slide 5: 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 5
Slide 6: 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 7: 14-member GEC 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 8: 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 9: 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 10: 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 10
Slide 11: 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 12: Alexander Kocherscheidt new CFO
Alexander Kocherscheidt new CFO ▪ Appointed by the Supervisory Board for three years with effect from November 1, 2025 ▪ CFO of Liquid & Powder Technologies Division for 2 years ▪ Joined GEA in 2019 as Head of Group Finance ▪ Various management positions at ThyssenKrupp ▪ Began his career in investm
Slide 13: Business & Financial Review Q3 2025
Business & Financial Review Q3 2025 Alexander Kocherscheidt, CFO Q3 2025 Results 13
Slide 14: GEA Group
GEA Group Q3 25: Solid top-line growth & another strong EBITDA1 margin increase % Organic change 5.6% Order Intake, €m Organic order intake 8.4% YoY 3.6% − All order size brackets up; midsized orders (between €5m and 3,955 4,096 1,598 €15m) particularly strong 1,301 1,415 1,309 1,372 − Growth main
Slide 15: Division Separation & Flow Technologies (SFT)
Division Separation & Flow Technologies (SFT) Q3 25: All major KPIs improved again % Organic change Order Intake, €m Organic order intake 14.9% YoY 8.1% − Large order of €16m in Pharma 6.4% 1,244 442 421 − Growth in almost all customer industries, especially in 378 411 411 1,169 Pharma, Dairy Proc
Slide 16: Division Liquid & Powder Technologies (LPT)
Division Liquid & Powder Technologies (LPT) Q3 25: Two large orders & pick-up in sales % Organic change 4.4% Order Intake, €m Organic order intake 6.8% YoY 6.1% − Two large orders (>€15m) totaling €48m in Dairy Processing 1,215 1,141 vs. one large order of €59m in Dairy Processing in Q3 24 582 427
Slide 17: Division Food & Healthcare Technologies (FHT)
Division Food & Healthcare Technologies (FHT) Q3 25: Strong organic top-line growth & further sequential EBITDA1 margin improvement % Organic change Order Intake, €m 9.9% Organic order intake 16.0% YoY 6.6% 302 − Midsized orders (between €5m and €15m) main growth 801 268 270 751 238 263 contributo
Slide 18: Division Farm Technologies (FT)
Division Farm Technologies (FT) Q3 25: Significant increase in order intake, rebound in sales & EBITDA1 margin continued % Organic change Order Intake, €m Organic order intake 31.2% YoY 22.9% 20.9% − Growth in service and new machine business driven by 626 214 207 205 strong demand for conventiona
Slide 19: Division Heating & Refrigeration Technologies (HRT)
Division Heating & Refrigeration Technologies (HRT) Q3 25: Solid sales growth & EBITDA1 margin improvement % Organic change 3.5% Order Intake, €m Organic order intake 7.1% YoY 4.2% − YoY decline due to missing midsized orders (between €5m 456 437 and €15m); stable demand development in base orders
Slide 20: 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 21: 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 22: 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 23: Cash conversion of 47% in L4Q
Cash conversion1 of 47% in L4Q Free Cash Flow 9M 25, €m FCF generation during L4Q per Q3 25, €m 52 -146 -49 38 -98 -11 647 394 -207 353 184 -160 17 41 -53 -17 -29 EBITDA Delta NWC Taxes Cash-out Others Operating Capex Others Free Cash Lease Interests Net Cash Q4 24 Q1 25 Q2 25 Q3 25 Q3 25 L4Q before
Slide 24: Outlook FY 2025
Outlook FY 2025 Stefan Klebert, CEO Q3 2025 Results 24
Slide 25: 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 26: 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 27: Roadmap for remainder of 2025 and 2026
Roadmap for remainder of 2025 and 2026 March 09, May 11, Aug 10, Nov 09, Today 2026 2026 2026 2026 Q3 FY Q1 Q2 Q3 2025 2025 2026 2026 2026 Q3 2025 Results 27
Slide 28: Appendix
Appendix Q3 2025 Results 28
Slide 29: GEA – Q3 2025 figures
GEA – Q3 2025 figures Sales by Customer Industry (L4Q) [in €m] Q3 24 Q3 25 Δ YoY L4Q Q3 24 L4Q Q3 25 Δ YoY Order Intake 5,5% 9,2% 1.300,6 1.372,4 5.214,9 5.694,4 Organic 1 8,4% 11,3% 13% Dairy Farming -1% YoY 16% Dairy Processing 11% YoY Sales 1,2% 2,3% Food 4% YoY 1.349,8 1.365,9 5.323,7 5.443,9 Or
Slide 30: Separation & Flow Technologies – Q3 2025 figures
Separation & Flow Technologies – Q3 2025 figures Sales by Customer Industry (L4Q) [in €m] Q3 24 Q3 25 Δ YoY L4Q Q3 24 L4Q Q3 25 Δ YoY Order Intake 11,4% 9,5% 377,9 421,1 1.539,7 1.686,1 0% Dairy Farming n.a. Organic 1 14,9% 12,0% 22% Dairy Processing 7% YoY Sales -2,3% 5,5% 29% Food 16% YoY 404,5 39
Slide 31: Liquid & Powder Technologies – Q3 2025 figures
Liquid & Powder Technologies – Q3 2025 figures Sales by Customer Industry (L4Q) [in €m] Q3 24 Q3 25 Δ YoY L4Q Q3 24 L4Q Q3 25 Δ YoY Order Intake -8,9% 8,1% 426,7 388,6 1.594,2 1.723,3 1% Organic 1 -6,8% 9,6% Dairy Farming -74% YoY 20% 0% Dairy Processing 11% YoY Sales 3,7% -0,9% Food 14% YoY 401,7 4
Slide 32: Food & Healthcare Technologies – Q3 2025 figures
Food & Healthcare Technologies – Q3 2025 figures Sales by Customer Industry (L4Q) [in €m] Q3 24 Q3 25 Δ YoY L4Q Q3 24 L4Q Q3 25 Δ YoY Order Intake 13,4% 10,0% 0% 238,0 270,0 1.002,0 1.102,3 Organic 1 16,0% 12,4% Dairy Farming 9% YoY 22% Dairy Processing n.a. Sales -0,3% 2,1% Food -1% YoY 252,8 252,0
Slide 33: Farm Technologies – Q3 2025 figures
Farm Technologies – Q3 2025 figures Sales by Customer Industry (L4Q) [in €m] Q3 24 Q3 25 Δ YoY L4Q Q3 24 L4Q Q3 25 Δ YoY Order Intake 27,2% 16,1% 161,3 205,1 698,7 811,1 Organic 1 31,2% 19,4% Dairy Farming -2% YoY Dairy Processing n.a Sales 2,9% -1,9% Food n.a 195,1 200,7 765,0 750,6 Organic 1 6,0%
Slide 34: Heating & Refrigeration Technologies – Q3 2025 figures
Heating & Refrigeration Technologies – Q3 2025 figures Sales by Customer Industry (L4Q) [in €m] Q3 24 Q3 25 Δ YoY L4Q Q3 24 L4Q Q3 25 Δ YoY Order Intake -9,2% 1,2% 151,3 137,4 580,3 587,2 4% Organic 1 -7,1% 1,5% Dairy Farming n.a 16% Dairy Processing 79% YoY Sales 1,1% 7,2% Food -8% YoY 151,4 153,1
Slide 35: Service sales
Service sales 592 60 548 529 525 526 512 514 488 57 472 57 59 61 55 55 102 50 54 97 87 91 96 98 93 90 98 90 90 93 96 86 91 90 84 86 InsertPicture 128 108 109 119 104 111 104 108 101 197 223 199 180 180 194 191 189 161 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 SFT LPT FHT FT HRT Figures a
Slide 36: Order Intake development Q3 2025
Order Intake development Q3 2025 by division YoY change In €m Q3 24 Δ M&A Δ FX Δ Organic Q3 25 Seperation & Flow 0 -13 56 421 378 Technologies 0.0% -3.5% 14.9% 11.4% Liquid & Powder 0 -9 -29 389 427 Technologies 0.0% -2.2% -6.8% -8.9% Food & Healthcare -2 -4 38 270 238 Technologies -0.7% -1.7% 16.0%
Slide 37: Sales development Q3 2025
Sales development Q3 2025 by division YoY change In €m Q3 24 Δ M&A Δ FX Δ Organic Q3 25 Seperation & Flow 0 -13 3 395 404 Technologies 0.0% -3.1% 0.8% -2.3% Liquid & Powder 0 -12 27 417 402 Technologies 0.0% -2.9% 6.6% 3.7% Food & Healthcare -7 -4 10 252 253 Technologies -2.8% -1.6% 4.1% -0.3% 0 -6
Slide 38: Order intake split as of Q3 2025 L4Q
Order intake split as of Q3 2025 L4Q: Top 30 countries account for 85% of order intake Top DM Countries Share Delta LTM % BtB Top EM Countries Share Delta LTM % BtB United States 19% 1,09 China 7% 1,01 Germany 9% 1,04 India 3% 1,34 Netherlands 4% 1,03 Poland 3% 0,99 United Kingdom 3% 0,84 Brazil 2%
Slide 39: FX development
FX development FX rates Sep % total Sep YTD Δ FX YoY Sep 2025 vs Currency YTD * Sep 2024 (average) EUR 45% - - USD 18% 1,12 3% CNY 6% 8,07 3% GBP 4% 0,85 0% DKK InsertPicture 3% 7,46 0% PLN 3% 4,24 -2% NZD 2% 1,91 7% INR 2% 96,81 7% BRL 2% 6,32 11% CAD 2% 1,56 6% AED 1% 4,11 3% *Share of functional
Slide 40: 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 Q3 25 Q3 24 Committed syndicated liquidity Cash and cash equivalents 288 355 back-up credit facility of 2028 650 0 - Bank liabil
Slide 41: 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 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: 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 Q2 25 Q3 25 SFT 409 420 368 341 1.537 457 378 351 370 1.556 402 389 378 442 1.612 411 411 421 LPT 526 402 459 478 1.865 511 453 411 379 1.754 389 400 427 582 1.79
Slide 44: 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 Q2 25 Q3 25 SFT 572 650 652 592 592 670 663 617 594 594 633 634 598 612 612 616 614 635 LPT 1.508 1.500 1.541 1.496 1.496 1.599 1.598 1.581 1.445 1.445 1.472 1.4
Slide 45: 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 Q2 25 Q3 25 SFT (10) (10) (10) (12) (42) (10) (11) (11) (12) (44) (12) (12) (13) (14) (52) (13) (14) (14) LPT (8) (8) (8) (9) (34) (8) (8) (9) (10
Slide 46: 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 Q2 25 Q3 25 SFT 71 57 82 79 288 83 87 94 84 348 82 89 94 107 372 90 101 95 LPT 18 31 40 36 125 19 31 36 46 132 12 23 39 39 114 27 30 41 FHT 10 10 18 21 59 10 1 4 (7) 9 9
Slide 47: GEA.com
| Engineering for a better world. GEA.com