GEA : Half-yearly Financial Report 2022 January 1 – June 30, 2022

Q1 - Q2 2022

Half-yearly financial report January 1 - June 30, 2022

GEA.com

INTERIM GROUP MANAGEMENT REPORT

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

FURTHER INFORMATION

GEA continues positive performance in second quarter Further improvement in key financial indicators Outlook for 2022 confirmed

Order intake up by 8.5 percent (organic growth of 6.7 percent) Revenue improved by 10.0 percent; (organic growth of 8.9 percent)

Share of service business increased to 34.6 percent (previous year: 33.8 percent)

Good book-to-billratio of 1.10 (previous year: 1.12)

EBITDA before restructuring expenses up by 9.0 percent to EUR 167 million EBITDA margin remains high at 13.2 percent (previous year: 13.3 percent) ROCE increased significantly to 29.7 percent (previous year: 21.4 percent)

Net working capital as a percentage of revenue improved to 7.9 percent (previous year: 8.3 percent)

Net liquidity up significantly to EUR 264 million (previous year: EUR 203 million)

Second tranche of share buyback program launched on July 6 with a volume of EUR 170 million (total volume: EUR 300 million)

Financial Key Figures of GEA

	Q2	Q2	Change	Q1-Q2	Q1-Q2	Change
(EUR million)	2022	2021	in %	2022	2021	in %
Results of operations
Order intake	1,403.3	1,293.7	8.5	2,946.9	2,576.1	14.4
Book-to-bill ratio	1.10	1.12	-	1.23	1.16	-
Order backlog	3,355.8	2,644.9	26.9	3,355.8	2,644.9	26.9
Revenue	1,271.0	1,155.6	10.0	2,397.4	2,221.0	7.9
Organic revenue growth1	-	-	8.9	-	-	7.8
Share of service revenue in %	34.6	33.8	83 bps	35.4	34.5	86 bps
EBITDA before restructuring expenses	167.4	153.7	9.0	305.7	274.8	11.2
as % of revenue	13.2	13.3	-12 bps	12.8	12.4	38 bps
EBITDA	146.0	149.6	-2.5	277.9	255.2	8.9
EBIT before restructuring expenses	122.4	111.6	9.7	217.0	187.8	15.6
EBIT	98.8	101.6	-2.7	187.2	162.1	15.4
Profit for the period	76.7	76.9	-0.2	148.9	133.6	11.4
ROCE in %2	29.7	21.4	830 bps	29.7	21.4	830 bps
Financial position
Cash flow from operating activities	50.8	108.2	-53.1	37.1	153.9	-75.9
Cash flow from investing activities	-39.7	-13.5	< -100	-53.8	-19.3	< -100
Free cash flow	11.1	94.7	-88.3	-16.7	134.6	-
Net assets
Net working capital (reporting date)	384.1	382.7	0.4	384.1	382.7	0.4
as % of revenue (LTM)	7.9	8.3	-45 bps	7.9	8.3	-45 bps
Capital employed (reporting date)3	1,710.8	1,668.9	2.5	1,710.8	1,668.9	2.5
Equity	2,254.2	1,971.6	14.3	2,254.2	1,971.6	14.3
Equity ratio in %	38.7	35.2	351 bps	38.7	35.2	351 bps
Net liquidity (+)/Net debt (-)4	263.7	202.8	30.1	263.7	202.8	30.1
GEA Shares
Earnings per share (EUR)	0.43	0.43	1.6	0.84	0.74	13.3
Earnings per share before restructuring expenses (EUR)	0.53	0.48	11.5	0.96	0.87	11.0
Market capitalization (EUR billion; reporting date)	5.8	6.2	-5.4	5.8	6.2	-5.4
Employees (FTE; reporting date)	18,123	18,212	-0.5	18,123	18,212	-0.5
Total workforce (FTE; reporting date)	19,255	19,213	0.2	19,255	19,213	0.2

1. By "organic", GEA means changes that are adjusted for currency and portfolio effects.
2. EBIT before restructuring expenses of the last 12 months. Capital employed average of the last 4 quarters and excluding goodwill from the acquisition of the former GEA AG by former Metallgesellschaft AG in 1999.
3. Capital employed excluding goodwill from the acquisition of the former GEA AG by former Metallgesellschaft AG in 1999.
4. Including lease liabilities of EUR 164.9 million as of June 30, 2022 (prior-year EUR 153.0 million).

GEA Q2 2022

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INTERIM GROUP MANAGEMENT REPORT

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

FURTHER INFORMATION

CONTENTS

GEA Q2 2022

3

INTERIM GROUP MANAGEMENT REPORT

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

FURTHER INFORMATION

INTERIM GROUP	01
MANAGEMENT REPORT

GEA Q2 2022

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INTERIM GROUP MANAGEMENT REPORT

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

FURTHER INFORMATION

GEA IN THE SECOND QUARTER

AND FIRST HALF OF 2022

GEA in the Second Quarter and First Half of 2022

In the second quarter of 2022, GEA continued the positive development seen at the beginning of the year and increased order intake, organic revenue, EBITDA before restructuring expenses and net liquidity compared to the prior-year quarter. Due to the overall good development in the first half of 2022, the company confirms the full-year outlook for GEA Group, with slight shifts at the divisional levels.

At EUR 1,403 million, order intake in the second quarter rose by 8.5 percent (6.7 percent organically) compared with the prior-year quarter (EUR 1,294 million). All divisions recorded organic growth. In the first six months of the current fiscal year, order intake increased by a significant 14.4 percent to EUR 2,947 million on the comparable prior-year figure. Organically order intake improved by 13.5 percent.

Revenue in the second quarter of 2022 was 10.0 percent higher than the prior-year figure, at EUR 1,271 million (previous year: EUR 1,156 million). Organically, revenue increased by 8.9 percent. All divisions contributed to this development, recording positive organic growth. In addition, with the exception of Western Europe and Middle East & Africa, all regions - above all North America - recorded positive growth. Most customer industries, except for dairy processing and beverage, registered revenue growth. Dairy farming, chemical and food grew particularly strong. The share of revenue of the important service business also increased further, up from 33.8 to 34.6 percent in the quarter under review. Revenue in the first half of 2022 was 7.9 percent higher than the prior-year figure, at EUR 2,397 million (previous year: EUR 2,221 million). Organic revenue growth was also positive at 7.8 percent. The share of the service business in total revenue increased by 0.9 percentage points to 35.4 percent in the first six months (previous year: 34.5 percent).

EBITDA before restructuring expenses grew by 9.0 percent to EUR 167.4 million in the second quarter. At

13.2 percent in the quarter under review, the EBITDA margin before restructuring expenses remained virtually unchanged compared with the prior-year figure of 13.3 percent. At EUR 305.7 million in the first half of 2022, EBITDA before restructuring expenses was also 11.2 percent up on the comparable prior-year period (EUR 274.8 million). The corresponding EBITDA margin improved by 0.4 percentage points to 12.8 percent (previous year: 12.4 percent).

In the second quarter, the profit for the period at EUR 76.7 million on par with the previous year (EUR 76.9 million). The positive operating trend was primarily impacted by higher restructuring expenses. Earnings per share remained unchanged at EUR 0.43. At EUR 148.9 million, consolidated profit for the first half of the year increased by 11.4 percent compared with the prior-year period (EUR 133.6 million). Accordingly, earnings per share increased significantly from EUR 0.74 to EUR 0.84.

Net liquidity - including lease liabilities - amounted to EUR 263.7 million as of the reporting date June 30, 2022, a significant improvement on the prior-year figure of EUR 202.8 million. This increase was largely attributable to the significantly improved earnings, while net working capital remained stable year over year. Net working capital as a percentage of revenue was 7.9 percent (previous year: 8.3 percent).

Return on Capital Employed (ROCE) increased significantly to 29.7 percent (previous year: 21.4 percent). All divisions were able to increase ROCE, in some cases significantly.

Professor Dieter Kempf, former President of the Federation of German Industries (BDI), took over as Chairman of the Supervisory Board of GEA Group AG on May 16, 2022.

With effect from July 6, 2022, the company launched the second tranche of its share buyback program, with a further volume of EUR 170 million. The program has a total repurchase volume of EUR 300 million.

GEA Q2 2022

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