Q3 2023
Quarterly Statement
July 1 to September 30, 2023

GEA.comFINANCIAL KEY FIGURES OF GEA

GEA records further EBITDA margin improvement
and strong free cash flow in third quarter
Outlook for 2023 confirmed

Financial Key Figures of GEA(EUR million)

Q3
2023

Q3
2022

Change
in %

Q1-Q3
2023

Q1-Q3
2022

Changein %1,247.4

1,371.7-9.1

4,209.5

4,318.6

-2.5

0.92

1.01

–

1.06

1.15

–

-1.9

3,348.7

3,414.9-1.9

Results of operations

Order intake down 9.1 percent, particularly due to negative currency effects ofOrder intake

EUR 96 million (organic ‑1.7 percent)Book-to-bill ratio
Order backlog

3,348.7

3,414.9

Revenue down slightly by 0.2 percent (organic growth of 6.9 percent)

Revenue

1,351.1

1,353.6-0.2

3,964.2

3,751.0

5.7

6.9

10.2

-336 bps

9.8

8.7

117 bps
101 bpsShare of service business increased to 36.2 percent (Q3 2022: 34.5 percent)
EBITDA before restructuring expenses up by 4.2 percent to EUR 207 million
EBITDA margin increased by a further 0.6 percentage points to 15.3 percent
ROCE increased markedly to 33.9 percent (Q3 2022: 30.6 percent)Free cash flow rose significantly to EUR 187 million (Q3 2022: EUR 103 million)
Net working capital improved to 8.3 percent of revenue (Q3 2022: 8.9 percent)
Net liquidity down slightly to EUR 233 million (Q3 2022: EUR 235 million)

Organic revenue growth1
Share of service revenue in %

36.2

34.5

161 bps

36.1

35.1

EBITDA before restructuring expenses

207.0

198.7

4.2

570.3

504.4

13.1

as % of revenue

15.3

14.7

64 bps14.4

13.4

94 bps
15.8

EBITDA

203.2

188.1

8.0

539.6

466.0

EBIT before restructuring expenses

162.0

154.7

4.7

437.2

371.7

17.6

EBIT

158.2

144.1

9.8

406.2

331.2

22.6

Profit for the period

120.8

107.0

12.9

300.3

255.9

17.4

ROCE in %2

33.9

30.6

326 bps

33.9

30.6

326 bpsFinancial position
Cash flow from operating activities

235.7

146.5

60.9

217.1

183.6

18.3

Cash flow from investing activities

-48.8

-43.2

-13.0

-115.6

-97.0

-19.2

Free cash flow

186.9

103.3

81.0

101.5

86.6

17.2

448.7

445.6

0.7

448.7

445.6

0.7

8.3

8.9

-51 bps

8.3

8.9-51 bps

Outlook for GEA Group AG for 2023 confirmed

Net assets• Organic revenue growth of more than 8 percent

Net working capital (reporting date)• EBITDA before restructuring* expenses at the upper end of the rangeof EUR 730 to 790 million• Corresponding EBITDA margin of at least 14.0 percent• ROCE* of more than 32.0 percent

as % of revenue (LTM)
Capital employed (reporting date)3

1,831.2

1,758.1

4.2

1,831.2

1,758.1

4.2

Equity2,424.8

2,333.2

3.9

2,424.8

2,333.2

3.9

41.3

39.4

182 bps

41.3

39.4

182 bps

232.9

235.1

-0.9

232.9

235.1

-0.9

Equity ratio in %Net liquidity (+)/Net debt (-)4
GEA Shares

Bernd Brinker appointed CFO effective October 16, 2023*) at constant currency rates

Earnings per share (EUR)

0.70

0.61

15.3

1.74

1.45

20.5

Earnings per share before restructuring expenses (EUR)

0.72

0.66

9.9

1.89

1.62

16.8

Market capitalization (EUR billion; reporting date)5

6.3

6.0

4.9

6.3

6.0

4.9

Employees (FTE; reporting date)

18,77318,197

3.2

18,77318,197

3.2

Total workforce (FTE; reporting date)

19,70019,2862.1

19,70019,2862.11) 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 156.2 million as of September 30, 2022 (prior-year EUR 165.8 million).
5) The market capitalization include treasury shares; XETRA closing price as of September 29, 2023: EUR 34.96; XETRA closing price as of September 30, 2022: EUR 33.34

G E A Q 3 2 02 3

2

GEA IN THE THIRD QUARTER OF 2023

GEA in the Third Quarter of 2023
In an environment dominated by rising interest rates, negative exchange rate developments and geopolitical

Profit for the period also clearly improved in the third quarter of 2023, rising by 12.9 percent to EUR 120.8 million

uncertainty, GEA performed well in the third quarter of 2023 and demonstrated its economic resilience. Key(Q3 2022: EUR EUR 107.0 million). Accordingly, earnings per share rose from EUR 0.61 to EUR 0.70. Earnings

performance indicators, including organic revenue, EBITDA before restructuring expenses and ROCE, again

per share before restructuring expenses amounted to EUR 0.72 compared with EUR 0.66 in the third quarter

improved compared with the prior-year quarter. Likewise, free cash flow increased significantly. The company

of 2022.

therefore confirms the full-year guidance for GEA Group for 2023, with slight adjustments at divisional level.

In the third quarter, cash flow from operating activities rose significantly, alongside increased profit, toOrder intake and revenue were influenced in particular by negative currency effects. Order intake declined by

EUR 235.7 million (Q3 2022: EUR 146.5 million), particularly due to higher advance payments and a decline in

9.1 percent to EUR 1,247 million in the third quarter of 2023 (Q3 2022: EUR 1,372 million). However, thistrade payables. With only a slight change in investing activities, free cash flow increased significantly bycorresponds to an organic decline of just 1.7 percent. Exchange rate effects (translational effects) amounted

81.0 percent to EUR 186.9 million. Around 95 percent of the EBITDA was thus converted into free cash flow

to EUR 96 million here. The revenue picture was similar. Although revenue declined on the prior-year quarter(before restructuring expenses). Net liquidity – including lease liabilities – amounted to EUR 232.9 million as

by a slight 0.2 percent to EUR 1,351 million (Q3 2022: EUR 1,354 million), it rose by a marked 6.9 percent

of September 30, 2023 (September 30, 2022: EUR 235.1 million). As a percentage of revenue, net working

organically. Currency effects had a negative impact of EUR 85 million on revenue.

capital declined to 8.3 percent compared with 8.9 percent in the prior-year quarter.

Third quarter’s order intake of EUR 1,247 million includes three large orders (each amounting to more thanOrder intake declined by 2.5 percent to EUR 4,209 million (9M 2022: EUR 4,319 million) in the first nine months.

EUR 15 million) worth a total of EUR 138 million. Two of these orders were secured by the Liquid & PowderThis corresponds to organic growth of 1.6 percent. Negative currency effects amounted to EUR 148 million inTechnologies division, the third one by the Food & Healthcare Technologies division. The five large orders of

the first nine months. The effect on revenue was EUR 129 million. Nevertheless, revenue increased by 5.7 percent

the prior-year quarter (all in the Liquid & Powder Technologies division) amounted to a total of EUR 128 million.

to EUR 3,964 million (9M 2022: EUR 3,751 million). Organic revenue growth was even higher at 9.8 percent.

Revenue of EUR 1,351 million in the reporting period revealed mixed developments among the customer
industries. While the dairy farming, dairy processing, beverage and chemical performed particularly well, theother customer industries posted declines. The share of the profitable service business rose further from34.5 percent in the prior-year quarter to 36.2 percent.
EBITDA before restructuring expenses increased by 4.2 percent to EUR 207.0 million. The corresponding
EBITDA margin further improved by 0.6 percentage points to 15.3 percent. This was attributable in particular
to the higher share of the service business. Return on capital employed (ROCE) climbed from 30.6 percent to33.9 percent, with higher EBIT before restructuring expenses.

EBITDA before restructuring expenses improved by 13.1 percent to EUR 570.3 million (9M 2022: EUR 504.4 million).
The EBITDA margin increased by 0.9 percentage points to 14.4 percent (9M 2022: 13.4 percent). Profit for theperiod rose further to EUR 300.3 million, clearly up on the figure of EUR 255.9 million in the prior-year period.
The corresponding earnings per share increased from EUR 1.45 to EUR 1.74. Earnings per share before
restructuring expenses also improved, rising from EUR 1.62 to EUR 1.89.
The Supervisory Board of GEA Group Aktiengesellschaft appointed Bernd Brinker (58) as CFO with effect from
October 16, 2023. For an initial period of one year, he will succeed Marcus A. Ketter, who passed away suddenly
on August 6, 2023. Bernd Brinker has more than 30 years of financial and capital market experience with
global industrial groups and was most recently Group CFO of the publicly traded dormakaba Holding AG.

G E A Q 3 2 02 3

3

REPORT ON ECONOMIC POSITIONREPORT ON
ECONOMIC POSITION
Business developments
Order intake
Order intake(EUR million)

Q3
2023

Q3
2022

Change
in %

Q1-Q3
2023

Q1-Q3
2022

Changein %Separation & Flow Technologies

350.7

367.6

-4.6

1,186.0

1,195.8-0.8

Liquid & Powder Technologies

410.8

458.7

-10.5

1,375.2

1,386.6-0.8

Food & Healthcare Technologies

236.5

254.3

-7.0

775.4

809.8

-4.2

Farm Technologies

165.4

193.1

-14.3

607.8

639.1

-4.9

Heating & Refrigeration Technologies

142.0

141.7

0.2

456.9

453.8

0.7

Consolidation

-58.0

-43.8

-32.4

-191.9-166.6-15.2

1,247.4

1,371.7-9.1

4,209.5

4,318.6-2.5

GEA• Order intake declined sharply by 9.1 percent to EUR 1,247 million in the third quarter, largely due to currency
effects. Organically, the figure declined only slightly by 1.7 percent• Order intake down on the prior-year quarter in all divisions, except for Heating & Refrigeration Technologies,
which recorded slight growth against the prior year
• Regional order developments: clear increase with high double-digit growth rates in Northern and Central
Europe and slight growth in DACH & Eastern Europe; however, the other regions recorded – in some cases
marked – declines• Positive trend with significant double-digit growth rates in the beverage and pharma customer industries,
while all other industries declined, some markedly• Higher volume of large orders (EUR >15 million) and stable trend in orders worth EUR 1 to < 5 million, but

Order intake development in %

Q3
2023

Q1-Q3
2023

Change compared to prior year

-9.1

-2.5

• Three large orders (EUR >15 million) in the third quarter amounting to EUR 138 million; two large orders in

FX effects

-7.0

-3.5

the Liquid & Powder Technologies division, and one large order in the Food & Healthcare Technologies

Acquisitions/divestments

-0.3

-0.7

division; prior-year quarter: five large orders (all in the Liquid & Powder Technologies division) amounting

Organic-1.7

1.6

base orders (EUR 0 to < 1 million) and orders worth EUR 5 to 15 million declined

to EUR 128 million• Order intake declined by 2.5 percent to EUR 4,209 million in the first nine months, but grew by 1.6 percent
organically

G E A Q 3 2 02 3

4

REPORT ON ECONOMIC POSITION

Revenue
Order intake(EUR million)

Q3
2023

Q3
2022

Change
in %

Q1-Q3
2023

Q1-Q3
2022

Changein %Separation & Flow Technologies

390.4

376.2

3.8

1,142.9

1,048.3

9.0

Liquid & Powder Technologies

437.7

444.6

-1.6

1,258.3

1,256.1

0.2

Food & Healthcare Technologies

244.3

262.3

-6.8

739.2

718.3

2.9

Farm Technologies

209.7

190.7

10.0

591.5

525.4

12.6

Heating & Refrigeration Technologies

133.8

137.1

-2.4

409.6

382.9

7.0

Consolidation

-64.8

-57.2

-13.2

-177.4-180.01.5

1,351.1

1,353.6-0.2

3,964.2

3,751.0

5.7

GEA

Revenue development in %

Q3
2023

Q1-Q3
2023

Change compared to prior-year

-0.2

5.7

FX effects

-6.3

-3.5

Acquisitions/divestments

-0.7

-0.6

Organic

6.9

9.8• Revenue declined slightly by 0.2 percent to EUR 1,351 million in the third quarter, largely due to currency
effects; organic growth of 6.9 percent• Revenue growth in the Separation & Flow Technologies and Farm Technologies divisions almost fully
offset the declines in the other divisions; organically, revenue in all divisions – apart from Food & Healthcare
Technologies – increased, in some cases markedly• Share of the profitable service business further improved to 36.2 percent (Q3 2022: 34.5 percent)• Book-to-bill ratio decreased to 0.92 (previous year: 1.01)• Mixed revenue developments across regions: while DACH & Eastern Europe, Northern and Central Europe
recorded slight growth and revenue rose strongly in Latin America, revenue declined in the other regions• Trends by customer industry also mixed: while dairy farming, dairy processing, beverage and chemical
performed particularly well, the other customer industries posted declines• Revenue increased by 5.7 percent to EUR 3,964 million in the first nine months; organic growth of
9.8 percent

G E A Q 3 2 02 3

5

REPORT ON ECONOMIC POSITION

Results of operations
Development of selected key figures(EUR million)

Q3
2023

Q3
2022

Change
in %

Q1-Q3
2023

Q1-Q3
2022

Changein %Revenue

1,351.1

1,353.6-0.2

3,964.2

3,751.0

5.7

Gross profit

473.4

458.2

3.3

1,363.0

1,252.7

8.8

Gross margin (in %)

35.0

33.9

118 bps

34.4

33.4

99 bps

EBITDA before restructuring expenses

207.0

198.7

4.2

570.3

504.4

13.1

as % of revenue

15.3

14.7

64 bps14.4

13.4

94 bpsRestructuring expenses (EBITDA)

-3.9

-10.7

–

-30.7

-38.4

–

203.2

188.1

8.0

539.6

466.0

15.8

EBITDA• Revenue growth declined by a slight 0.2 percent to EUR 1,351 million, largely due to currency effects;
organic growth of 6.9 percent• Gross profit increased thanks to the higher share of the service business; accordingly, the gross margin
improved by 1.2 percentage points to 35.0 percent• Gross margin before restructuring expenses up on the previous year at 34.8 percent (Q3 2022: 34.1 percent)• EBITDA before restructuring expenses improved by 4.2 percent to EUR 207.0 million in the third quarter(EUR 219.9 million at constant exchange rates); EBITDA margin increased by a further 0.6 percentage points
to 15.3 percent, primarily due to the higher gross profit• EBITDA before restructuring expenses increased in the Separation & Flow Technologies, Farm Technologies

Depreciation, impairment losses and reversals of
impairment losses on property, plant and equipment aswell as amortization of impairment losses and reversalsof impairment losses on intangible assets and goodwill
as well as other impairment losses and reversals of
impairment losses

-45.0

-44.0

–

-133.5-134.8

–

EBIT

158.2

144.1

9.8

406.2

331.2

22.6

3.9

10.7

–

31.1

40.5

–

EBIT before restructuring expenses

162.0

154.7

4.7

437.2

371.7

17.6

• Profit for the period further improved by 12.9 percent on the prior-year to EUR 120.8 million; corresponding

Restructuring expenses (EBIT)

and Heating & Refrigeration Technologies divisions, while the figure declined slightly in the Liquid & Powder
Technologies division and significantly in the Food & Healthcare Technologies division• EBIT before restructuring expenses improved by 4.7 percent to EUR 162.0 million• Profit after tax from continuing operations increased by 16.2 percent to EUR 117.8 million, with a lower tax
rate of 23.0 percent (previous year: 27.6 percent)Profit for the period

120.8

107.0

12.9

300.3

255.9

17.4

earnings per share increased from EUR 0.61 to EUR 0.70 ; earnings per share before restructuring expenses

Earnings per share (EUR)

0.70

0.61

15.3

1.74

1.45

20.5

also improved, rising from EUR 0.66 to EUR 0.72

Earnings per share before restructuring expenses (EUR)

0.72

0.66

9.9

1.89

1.62

16.8

G E A Q 3 2 02 3

6

REPORT ON ECONOMIC POSITION

Return on Capital Employed (ROCE)
Return on capital employed (ROCE)

09/30/2023

09/30/2022

EBIT before restructuring expenses of the last 12 months (EUR million)

594.5

500.6

Capital employed (EUR million)*

1,755.5

1,635.3

Return on capital employed (in %)

33.9

30.6

Return on capital employed (in %) at constant currencies

34.1

29.8

• Return on capital employed (ROCE) improved markedly from 30.6 percent to 33.9 percent• Rise in EBIT before restructuring expenses more than compensated for the higher capital employed• With the exception of Food & Healthcare Technologies, all divisions recorded an improved ROCE*) Capital employed excluding goodwill from the acquisition of the former GEA AG by former Metallgesellschaft AG in 1999 (average of the last 4 quarters);
this also applies for the ROCE of the divisions.

Calculation capital employed*(EUR million)

09/30/2023

09/30/2022

Total assets

5,826.8

5,858.6

minus current liabilities

2,460.4

2,387.4

minus goodwill mg/GEA

780.5

782.7

minus deferred tax assets

328.5

320.8

minus cash and cash equivalents

512.7

742.0

minus other adjustments

-10.8

-9.6

1,755.5

1,635.3

Capital employed*) Average of the last 4 quarters.

G E A Q 3 2 02 3

7

REPORT ON ECONOMIC POSITIONGEA Divisions
Separation & Flow Technologies
Separation & Flow Technologies(EUR million)

Q3
2023

Q3
2022

Change
in %

Q1-Q3
2023

Q1-Q3
2022

Changein %Order intake

350.7

367.6

-4.6

1,186.0

1,195.8-0.8

Revenue

390.4

376.2

3.8

1,142.9

1,048.3

9.0

Share service revenue in %

46.2

45.7

48 bps46.3

46.1

13 bps

EBITDA before restructuring expenses

101.6

94.9

7.1

295.8

263.3

12.3

as % of revenue

26.0

25.2

81 bps25.9

25.1

76 bps

EBITDA

105.7

92.4

14.4

296.8

241.1

23.1

EBIT before restructuring expenses

90.4

84.4

7.1

263.1

231.9

13.5

EBIT

94.5

81.9

15.3

264.1

209.7

25.9

ROCE in % (3rd Party)*

38.4

35.8

265 bps

38.4

35.8

265 bps*) ROCE, as one of the relevant performance indicators, has now been considered as „ROCE 3rd Party“ (excluding interdivisional effects in the capital employed) at the divisional level.

• Order intake down by 4.6 percent to EUR 350.7 million in the third quarter, primarily due to negative
currency effects (EUR 38 million), but up by 5.8 percent organically; growth in the beverage and marine
customer industries was unable to offset the decline, particularly in the pharma customer industry• Book-to-bill ratio of 0.90 (previous year: 0.98)• Revenue up by 3.8 percent to EUR 390.4 million; organic growth of 11.1 percent• The share of the service business increased to 46.2 percent, up on the prior-year quarter’s already highlevel (Q3 2022: 45.7 percent)• Revenue increased in almost all regions, particularly in Northern and Central Europe and Asia Pacific• EBITDA before restructuring expenses grew by 7.1 percent to EUR 101.6 million due to improved margin
quality and the high share of the service business; corresponding EBITDA margin up by 0.8 percentage
points to 26.0 percent• At 38.4 percent, ROCE increased clearly compared with the prior-year figure of 35.8 percent, primarily due

Revenue development in %

Q3
2023

Q1-Q3
2023

Change compared to prior-year

3.8

9.0

FX effects

-7.3

-4.3

Acquisitions/divestments
Organic

–

–

11.1

13.3

to the improved EBIT before restructuring expenses

G E A Q 3 2 02 3

8

REPORT ON ECONOMIC POSITION

Liquid & Powder Technologies
Liquid & Powder Technologies(EUR million)

Q3
2023

Q3
2022

Change
in %

Q1-Q3
2023

Q1-Q3
2022

Changein %Order intake

410.8

458.7

-10.5

1,375.2

1,386.6-0.8

Revenue

437.7

444.6

-1.6

1,258.3

1,256.1

0.2

Share service revenue in %

23.7

20.6

310 bps

23.5

20.8

264 bps

EBITDA before restructuring expenses

46.1

48.9

-5.9

116.1

116.0

0.1

as % of revenue

10.5

11.0

-48 bps

9.2

9.2-1 bps

EBITDA

44.9

48.1

-6.7

111.2

113.1

-1.6

EBIT before restructuring expenses

37.4

40.7

-8.2

90.9

91.2

-0.3

EBIT

36.2

39.9

-9.2

86.1

88.2

-2.4

–

–

–

–

–

–

ROCE in % (3rd Party)**) ROCE, as one of the relevant performance indicators, has now been considered as „ROCE 3rd Party“ (excluding interdivisional effects in the capital employed) at the divisional level.
Due to negative capital employed, ROCE is not meaningful.

• Order intake declined by a significant 10.5 percent to EUR 410.8 million in the third quarter (Q3 2022:
EUR 458.7 million). This corresponds to an organic decline of 5.8 percent. Growth in the new food and,especially, the beverage customer industries was unable to compensate for the decline in the dairy
processing, food and chemicals industries, in particular, where contract finalizings were delayed.
• Two large orders (EUR > 15 million) worth a total of EUR 122 million in the beverage industry (Q3 2022: fivelarge orders worth a total of EUR 128 million)• Book-to-bill ratio of 0.94 (previous year: 1.03)• Revenue down slightly by 1.6 percent to EUR 437.7 million; however, organic growth of 4.0 percent wasrecorded, primarily due to the dairy processing and beverage industries, as well as sharp growth in theservice business• Share of the service business increased to 23.7 percent after 20.6 percent in the prior-year quarter• Revenue growth, with marked increase in Latin America and Northern and Central Europe, while the otherregions recorded declines

Revenue development in %

Q3
2023

Q1-Q3
2023

Change compared to prior-year

-1.6

0.2

FX effects

-5.5

-3.1

Acquisitions/divestments
Organic

–

–

4.0

3.3

• EBITDA before restructuring expenses down by 5.9 percent on the prior-year quarter at EUR 46.1 million,
primarily due to the lower volumes and change in the product mix; corresponding EBITDA margin declined
to 10.5 percent (Q3 2022: 11.0 percent)• ROCE for the quarter is not meaningful due to the negative capital employed

G E A Q 3 2 02 3

9

REPORT ON ECONOMIC POSITION

Food & Healthcare Technologies
Food & Healthcare Technologies(EUR million)

Q3
2023

Q3
2022

Change
in %

Q1-Q3
2023

Q1-Q3
2022

Changein %Order intake

236.5

254.3

-7.0

775.4

809.8

-4.2

Revenue

244.3

262.3

-6.8

739.2

718.3

2.9

Share service revenue in %

34.4

30.9

348 bps

33.2

31.1

211 bps

EBITDA before restructuring expenses

16.7

29.2

-42.7

57.5

69.2

-17.0

as % of revenue

6.8

11.1

-428 bps

7.8

9.6-186 bps

EBITDA

14.6

28.3

-48.7

46.9

68.9

-31.8

EBIT before restructuring expenses

6.2

18.9

-67.0

26.4

38.3

-31.2

EBIT

4.1

18.0

-77.4

15.5

38.0

-59.2

ROCE in % (3rd Party)*

11.1

14.2

-308 bps

11.1

14.2

-308 bps*) ROCE, als eine der relevanten Steuerungsgrößen, wird auf Ebene der Divisionen als „ROCE 3rd Party“ (d.h. im Capital Employed ohne interdivisionale Effekte) betrachtet.

• At EUR 236.5 million, order intake declined 7.0 percent in the third quarter; organically, the decline was
4.0 percent. This decrease is primarily attributable to the Latin America and Central Europe regions, while
positive developments were recorded in DACH & Eastern Europe and Asia Pacific in particular• One large order worth a total of EUR 16.3 million in the pharma industry• At 0.97, book-to-bill ratio at prior-year level• Revenue down by 6.8 percent on the strong prior-year quarter at EUR 244.3 million; organic decline of
4.3 percent• Share of the service business increased from 30.9 percent to 34.4 percent• Mixed revenue developments across regions: marked increase in Latin America and DACH & Eastern Europe,
while declines recorded primarily in North America and Northern and Central Europe• At EUR 16.7 million, EBITDA before restructuring expenses down significantly on the prior-year quarter(Q3 2022: EUR EUR 29.2 million), particularly due to lower margins in the new machinery business because

Revenue development in %

Q3
2023

Q1-Q3
2023

Change compared to prior-year

-6.8

2.9

FX effects

-2.6

-1.2

Acquisitions/divestments
Organic

–

–

-4.3

4.1

cost increases were not passed on to customers appropriately for several projects; accordingly, EBITDA
margin declined significantly from 11.1 percent to 6.8 percent• ROCE declined to 11.1 percent due to the sharp drop in EBIT before restructuring expenses

G E A Q 3 2 02 3

10

REPORT ON ECONOMIC POSITION

Farm Technologies
Farm Technologies(EUR million)

Q3
2023

Q3
2022

Change
in %

Q1-Q3
2023

Q1-Q3
2022

Changein %Order intake

165.4

193.1

-14.3

607.8

639.1

-4.9

Revenue

209.7

190.7

10.0

591.5

525.4

12.6

Share service revenue in %

42.7

48.2

-546 bps

44.7

47.7

-297 bps

EBITDA before restructuring expenses

33.0

25.9

27.4

86.1

57.1

50.8

as % of revenue

15.7

13.6

215 bps

14.6

10.9

369 bps

EBITDA

31.8

25.5

24.5

82.3

54.8

50.3

EBIT before restructuring expenses

26.8

18.9

41.8

67.3

36.6

83.9

EBIT

25.6

18.6

38.1

63.5

33.7

88.5

ROCE in % (3rd Party)*

30.4

17.9

1,251 bps

30.4

17.9

1,251 bps*) ROCE, as one of the relevant performance indicators, has now been considered as „ROCE 3rd Party“ (excluding interdivisional effects in the capital employed) at the divisional level.

• Following the strong prior-year quarter, order intake declined significantly by 14.3 percent to
EUR 165.4 million, largely due to currency effects; organic decline of just 1.3 percent (negative currencytranslation effect of EUR 25 million)• Book-to-bill ratio of 0.79 (previous year: 1.01)• Revenue increased by a marked 10.0 percent to EUR 209.7 million thanks to the strong order backlog;
organic growth even stronger at 21.9 percent• Due to the higher share of the new machinery business, the share of the service business dropped from
48.2 percent in the prior-year quarter to 42.7 percent• The main drivers of the positive revenue trend were the regions DACH & Eastern Europe and Western
Europe, Middle East & Africa• EBITDA before restructuring expenses up by a significant 27.4 percent to EUR 33.0 million, largely due tothe positive revenue and margin trend; corresponding EBITDA margin increased from 13.6 percent to

Q3
2023

Q1-Q3
2023

Change compared to prior-year

10.0

12.6

FX effects

-11.9

-5.9

Revenue development in %Acquisitions/divestments
Organic

–

–

21.9

18.4

15.7 percent• Increase in ROCE primarily attributable to the marked improvement in EBIT before restructuring expenses
from 17.9 percent to 30.4 percent

G E A Q 3 2 02 3

11

REPORT ON ECONOMIC POSITION

Heating & Refrigeration Technologies
Heating & Refrigeration Technologies(EUR million)

Q3
2023

Q3
2022

Change
in %

Q1-Q3
2023

Q1-Q3
2022

Changein %Order intake

142.0

141.7

0.2

456.9

453.8

0.7

Revenue

133.8

137.1

-2.4

409.6

382.9

7.0

Share service revenue in %

37.1

35.7

138 bps

36.9

38.6

-170 bps

EBITDA before restructuring expenses

17.6

15.8

11.3

49.6

41.9

18.2

as % of revenue

13.1

11.5

162 bps

12.1

11.0

115 bps

EBITDA

16.3

12.2

33.8

45.9

38.0

20.9

EBIT before restructuring expenses

14.2

12.3

15.3

39.5

31.3

26.2

EBIT

12.9

8.7

48.2

35.9

25.9

38.4

ROCE in % (3rd Party)*

35.4

24.5

1,097 bps

35.4

24.5

1,097 bps*) ROCE, as one of the relevant performance indicators, has now been considered as „ROCE 3rd Party“ (excluding interdivisional effects in the capital employed) at the divisional level.

• Order intake increased by a slight 0.2 percent to EUR 142.0 million in the third quarter; marked growth of
6.8 percent organically• Book-to-bill ratio of 1.06 (previous year: 1.03)• At EUR 133.8 million, revenue decreased by 2.4 percent compared with the prior-year quarter, primarily
due to divestments; organic growth of 8.5 percent• Revenue growth driven by strong order intake in 2022 and 2023, especially in North America; further
revenue growth in the regions Northern and Central Europe, and – adjusted for divestments – in Western
Europe, Middle East & Africa• Share of the service business increased from 35.7 percent to 37.1 percent, largely due to divestments• Marked improvement in EBITDA before restructuring expenses, up by 11.3 percent to EUR 17.6 million;
corresponding EBITDA margin increased from 11.5 percent in the previous year to 13.1 percent• The significantly improved EBIT before restructuring expenses and lower capital employed led to a further

Revenue development in %

Q3
2023

Q1-Q3
2023

Change compared to prior-year

-2.4

7.0

FX effects

-3.6

-2.1

Acquisitions/divestments

-7.0

-6.3

Organic*

8.5

16.3

rise in ROCE to 35.4 percent (Q3 2022: 24.5 percent)*) Organic sales growth is calculated on the basis of the revenue reported in the previous year less disposed businesses.

G E A Q 3 2 02 3

12

REPORT ON ECONOMIC POSITION

Others/Consolidation
Others/consolidation(EUR million)

Q3
2023

Q3
2022

Change
in %

Q1-Q3
2023

Q1-Q3
2022

Changein %Order intake

-58.0

-43.8

-32.4

-191.9-166.6-15.2

Revenue

-64.8

-57.2

-13.2

-177.4-180.0

1.5

EBITDA before restructuring expenses

-7.9

-15.9

50.3

-34.6

-43.0

19.6

EBITDA

-10.0

-18.4

45.8

-43.5

-49.9

12.6

EBIT before restructuring expenses

-13.1

-20.6

36.3

-49.9

-57.5

13.2

EBIT

-15.2

-23.1

34.2

-58.9

-64.3

8.5

• Clear improvement in EBITDA before restructuring expenses in the third quarter, largely due to a change
in the allocation of general overhead costs

G E A Q 3 2 02 3

13

REPORT ON ECONOMIC POSITION

Outlook 2023
The forecast for the group as a whole published in the half-yearly report on August 10, 2023 has beenWith regard to the 2023 fiscal year, GEA continues to expect:confirmed, with some slight adjustments at divisional level.
Outlook* fiscal year 2023

Economic environment in 2023
In its October 2023 outlook, the International Monetary Fund (IMF) anticipates a modest rise in global

Revenue development (organic)
EBITDA before restructuring expenses(at constant exchange rates)

Forecast according
to half-year financial
report 2023

2022

>8%
(significantly rising)EUR 5,165 million

Upper part of range of
EUR 730 to 790 million

EUR 712 million

more than 32.0%

31.8%

production of 3.0 percent for the full-year 2023, representing no change from its July outlook. The IMF still

ROCE (at constant exchange rates)

expects advanced economies to grow by 1.5 percent. In emerging and developing economies, the growth*) For revenue, “slight” indicates a change of up to +/- 5%, while a change of more than +/- 5% is referred to as “significant.”

prospects for 2023 remain unchanged compared with the July forecast, at 4.0 percent. At 0.7 percent, theforecast for the eurozone has been reduced by a slight 0.2 percentage points since July. The IMF has also

Further information on the outlook for 2023 can be found in the 2022 Annual Report (p. 156 ff.).

reduced its forecast for Germany by 0.2 percentage points and now expects the economy to shrink by
0.5 percent (July projection: 0.3 percent decline). Inflation is decreasing in most countries, but remains highat 6.9 percent, with differences between the individual economies. The IMF expects inflation of 4.6 percent
in advanced economies and 8.5 percent in emerging markets and developing economies (0.1 percentage
points lower and 0.2 percentage points higher, respectively, than projected in July).
GEA remains confident in achieving the financial outlook described below. This is based on the assumptionthat there will be no significant deterioration or improvement in the parameters previously described beyond
the statements made above that could have a negative or positive impact on global economic developments
or GEA’s business performance.

G E A Q 3 2 02 3

14

REPORT ON ECONOMIC POSITIONGEA has reduced its revenue growth forecast for the Liquid & Powder Technologies division.

GEA has reduced its forecast for EBITDA before restructuring expenses for the Liquid & Powder Technologies
and Food & Healthcare Technologies divisions.

Revenue growth (organic)*
Separation & Flow Technologies

Expactation according
to half-year financial
report 2023

New expectation for 2023

2022

significantly rising

significantly rising

EUR 1,416 million

EBITDA
before restructuring expenses(at constant exchange rates)*
Separation & Flow Technologies

Expactation according
to half-year financial
report 2023

New expectation for 2023

2022

slightly risingslightly rising

EUR 360 million

significantly risingslightly rising

EUR 166 million

slightly rising

significantly declining

EUR 107 million
EUR 86 million

Liquid & Powder Technologies

significantly risingslightly rising

EUR 1,716 million

Liquid & Powder Technologies

Food & Healthcare Technologies

significantly rising

significantly rising

EUR 1,001 million

Food & Healthcare Technologies

Farm Technologies

significantly rising

significantly rising

EUR 742 million

Farm Technologies

significantly rising

significantly rising

Heating & Refrigeration Technologies

significantly rising

significantly rising

EUR 524 million

Heating & Refrigeration Technologies

significantly rising

significantly rising

EUR 57 million--

EUR -234 million

Othersslightly declining

slightly declining

EUR -65 million--

EUR 0 million

Consolidation*) For revenue, “slight” indicates a change of up to +/- 5%, while a change of more than +/- 5% is referred to as “significant.”

Consolidation*) For earnings figures, “slight” indicates a change of up to +/- 10%, while a change of more than +/- 10% is referred to as “significant.”

GEA does not anticipate any changes in ROCE for the individual divisions compared with its forecasts in the
Half-yearly Financial Report 2023.

Düsseldorf, November 7, 2023		

G E A Q 3 2 02 3

15

C O N S O L I DAT E D B A L A N C E S H E E TConsolidated Balance Sheetas of September 30, 2023
Assets(EUR thousand)

09/30/2023

12/31/2022

Changein %Equity and liabilities(EUR thousand)

09/30/2023

12/31/2022

Changein %-0.0

Property, plant and equipment

755,984

722,744

4.6

Issued capital

496,846496,945

Goodwill

1,474,833

1,475,571-0.1

Capital reserve

1,217,861

1,217,861–

Other intangible assets

388,138

381,758

1.7

Retained earnings

646,267

488,394

32.3

Other non-current financial assets

54,45946,161

18.0

Accumulated other comprehensive income

Other non-current assets

6,583

6,294

4.6

Equity attributable to shareholders of GEA Group AG

295,506

350,131-15.6

Non-controlling interests

2,975,503

2,982,659-0.2

EquityInventories

926,375

846,315

9.5

Non-current provisions

Contract assets

450,757

373,162

20.8

Non-current employee benefit obligations

Trade receivables

730,658

730,945-0.0

Non-current financial liabilities

Income tax receivables

69,19952,002

33.1

Non-current contract liabilities

Other current financial assets

68,97470,429-2.1

Other non-current liablities

Deferred taxes
Non-current assets

Other current assets

172,907

131,378

31.6

Deferred taxes

Cash and cash equivalents

483,042718,727-32.8

Non-current liabilities

Assets held for sale

63,38577,329-18.0

2,424,359

2,280,529

6.3

415

415

–

2,424,774

2,280,944

6.3

99,146

101,640-2.5

588,343605,391-2.8

204,648

216,898

-5.6

5,739

4,942

16.1

721

773

-6.7

119,329

110,9907.5

1,017,926

1,040,634

-2.2

803

15,394-94.8

Current provisions

244,346

234,164

4.3

Current assets

2,902,715

2,938,352-1.2

Current employee benefit obligations

242,842

293,117-17.2

Total assets

5,878,218

5,921,011-0.7

Current financial liabilities

137,761

260,298-47.1

Trade payables

737,195

791,777-6.9

Current contract liabilities

912,859

839,566

8.7

Income tax liabilities

51,02080,210-36.4

Other current liabilities

109,495

96,971

12.9

Liabilities held for sale

–

3,330

–

Current liabilities

2,435,518

2,599,433-6.3

Total equity and liabilities

5,878,218

5,921,011-0.7

G E A Q 3 2 02 3

16

C O N S O L I DAT E D I N C O M E S TAT E M E N T

Consolidated Income Statement
for the period July 1 – September 30, 2023

Q3
2023

Q3
2022

Changein %Revenue

1,351,072

1,353,591-0.2

Cost of sales

877,707895,356-2.0

Gross profit

473,365458,235

3.3

Selling expenses

138,789

144,968-4.3
15.4(EUR thousand)Research and development expenses

26,68523,128General and administrative expenses

150,217

147,738

1.7

Other income

119,164

198,564-40.0

Other expenses

121,891

194,828

-37.4

217

-2,465

–

1,593

333

> 100
< -100

Net result from impairment and reversal of impairment on trade receivables and contract assets
Other financial income
Other financial expenses
Earnings before interest and tax (EBIT)Interest income
Interest expense-1,411-49

158,168

144,054

9.8

3,834

2,254

70.1
41.9

8,988

6,336

153,014

139,972

9.3

Income taxes

35,212

38,574-8.7

Profit after tax from continuing operations

117,802101,398

16.2

3,046

5,624

-45.8

Profit for the period

120,848

107,022

12.9

thereof attributable to shareholders of GEA Group AG

120,848

107,022

12.9

–

–

–

(EUR)

Q3
2023

Q3
2022

Changein %Basic and diluted earnings per share from continuing operations

0.68

0.58

18.7

Basic and diluted earnings per share from discontinued operations

0.02

0.03

-44.7

Profit before tax from continuing operations

Profit or loss after tax from discontinued operations

thereof attributable to non-controlling interests

Basic and diluted earnings per share

0.70

0.61

15.3

Weighted average number of ordinary shares used to calculate basic and diluted earnings per share (million)

172.3

176.0

-2.1

G E A Q 3 2 02 3

17

C O N S O L I DAT E D I N C O M E S TAT E M E N T

Consolidated Income Statement

for the period January 1 – September 30, 2023
(EUR thousand)

Q1-Q3
2023

Q1-Q3
2023

Changein %5.7

Revenue

3,964,171

3,750,965

Cost of sales

2,601,148

2,498,305

4.1

Gross profit

1,363,023

1,252,660

8.8

Selling expenses

432,703

431,075

0.4

Research and development expenses

82,337

72,68813.3

General and administrative expenses

453,362

421,982

7.4

Other income

345,661

451,988-23.5

Other expenses-23.8

340,512447,055

Net result from impairment and reversal of impairment on trade receivables and contract assets-1,103996–

Other financial income

8,330

929

> 100

Other financial expenses

842

2,565

-67.2

406,155

331,208

22.6

Interest income

10,528

5,906

78.3

Interest expense

27,13018,551

46.2

389,553

318,563

22.3

89,89586,537

3.9

299,658

232,026

29.1

Earnings before interest and tax (EBIT)

Profit before tax from continuing operations
Income taxes
Profit after tax from continuing operations

676

23,892-97.2

Profit for the period

Profit or loss after tax from discontinued operations

300,334

255,918

17.4

thereof attributable to shareholders of GEA Group AG

300,334

255,918

17.4

–

–

–

Q1-Q3
2023

Q1-Q3
2022

Changein %thereof attributable to non-controlling interests(EUR)
Basic and diluted earnings per share from continuing operations

1.74

1.31

32.6

Basic and diluted earnings per share from discontinued operations

0.00

0.13

-97.1

1.74

1.45

20.5

172.3

177.0

-2.6

Basic and diluted earnings per share
Weighted average number of ordinary shares used to calculate basic and diluted earnings per share (million)

G E A Q 3 2 02 3

18

C O N S O L I DAT E D C A S H F LO W S TAT E M E N T

Consolidated Cash Flow Statement
for the period July 1 – September 30, 2023

Q3
2023

Q3
2022

Profit for the period

120,848

107,022

Cash flow from investing activities of discontinued operations

plus income taxes

35,212

38,574

Cash flow from investing activities(EUR thousand)(EUR thousand)

Q3
2023

Q3
2022

–

-39

-48,782-43,226

minus profit or loss after tax from discontinued operations-3,046-5,624

Payments for acquisition of treasury shares–-113,585

Profit before tax from continuing operations

153,014

139,972

Payments from lease liabilities-16,032-16,523

5,154

4,082

Repayments of finance loans–-2,137

Earnings before interest and tax (EBIT)

158,168

144,054

Depreciation, amortization, impairment losses, and reversal of impairment losses on non-current assets

44,988Net interest income

Other non-cash income and expenses

Proceeds from the taking up of financial loans

4,067

–

44,043

Interest payments-2,377-2,737-134,982

1,718

5,952

Cash flow from financing activities of continued operations-14,342

Employee benefit obligations from defined benefit pension plans-11,550-11,069

Cash flow from financing activities of discontinued operations–-11

Change in provisions and other employee benefit obligations

33,42531,232

Cash flow from financing activities-14,342-134,993

Losses and disposal of non-current assets
Change in inventories including unbilled construction contracts*

12

445

33,458-31,099

Effect of exchange rate changes on cash and cash equivalents
Change in cash and cash equivalents-2,617

3,002

169,266-29,356

Change in trade receivables

19,590-15,453

Cash and cash equivalents at beginning of period

313,776

635,484

Change in trade payables-43,428-20,439

Cash and cash equivalents total

483,042

606,128

12,616

15,659Change in other operating assets and liabilities

26,62731,449thereof restricted cash and cash equivalents

Tax payments-27,321-32,664

less cash and cash equivalents classified as held for sale

235,687

146,451

Cash and cash equivalents reported in the balance sheet

Cash flow from operating activities of continued operations
Cash flow from operating activities of discontinued operations
Cash flow from operating activities
Proceeds from disposal of non-current assets

-680

-590

235,007

145,861

1,330

2,608

-48,454-41,433

Payments from non-current financial assets-119-4,998Interest income

1,738

1,237

Dividend income

82

327

-3,359-928

Payments to acquire property, plant and equipment, and intangible assets

Proceeds from sale of subsidiaries and other businesses
Received securitites from disposal of subsidiaries and other businesses
Cash flow from investing activities of continued operations––-48,782-43,187––

483,042

606,128*) Including advanced payments received.

G E A Q 3 2 02 3

19

C O N S O L I DAT E D C A S H F LO W S TAT E M E N T

Consolidated Cash Flow Statement
for the period January 1 – September 30, 2023

Q1-Q3
2023

Q1-Q3
2022

(EUR thousand)Profit for the period

300,334

255,918

Cash flow from investing activities of discontinued operations–-90

plus income taxes

89,89586,537

Cash flow from investing activities-115,587-97,041-676-23,892

Dividend payments-163,715-159,590

389,553

318,563

Payments for acquisition of treasury shares-1,315-150,464

Payments from lease liabilities-48,008-47,202

Repayments of borrower‘s note loans-100,000-50,000–-7,080(EUR thousand)minus profit or loss after tax from discontinued operations
Profit before tax from continuing operations
Net interest income

16,602

12,645

Earnings before interest and tax (EBIT)

406,155

331,208

Depreciation, amortization, impairment losses, and reversal of impairment losses on non-current assets

133,491

134,803

Other non-cash income and expenses

11,98817,855

Employee benefit obligations from defined benefit pension plans-34,649-33,208

Interest payments

Change in provisions and other employee benefit obligations-32,663-15,933-126-1,137-83,250-207,120

Cash flow from financing activities

Change in trade receivables-12,347-23,623

Effect of exchange rate changes on cash and cash equivalents

Change in trade payables-33,821

25,275

Change in cash and cash equivalents

Losses and disposal of non-current assets
Change in inventories including unbilled construction contracts*

Repayments of finance loans
Proceeds from taking out financial loans–-9,034-10,982

Cash flow from financing activities of continued operations-322,008-425,318

Cash flow from financing activities of discontinued operations–-40-322,008-425,358

Change in other operating assets and liabilities-58,097

23,860Cash and cash equivalents at beginning of period-79,578-68,415

Cash and cash equivalents total

Cash flow from operating activities of continued operations

217,103

183,565

thereof restricted cash and cash equivalents

Cash flow from operating activities of discontinued operations-2,248-1,877less cash and cash equivalents classified as held for sale

214,855

181,688

Cash and cash equivalents reported in the balance sheet

Proceeds from disposal of non-current assets

4,911

7,138

-139,696-114,593

Payments from non-current financial assets-10,195-12,439

Interest income

6,324

2,087

Dividend income

1,379

1,330

Proceeds from sale of subsidiaries and other businesses

21,69019,526

Payments to acquire property, plant and equipment, and intangible assets

Received securitites from disposal of subsidiaries and other businesses
Cash flow from investing activities of continued operations––-115,587-96,951

Q1-Q3
2022

64

Tax payments

Cash flow from operating activities

Q1-Q3
2023

-12,945

18,652-235,685-322,059

718,727

928,187

483,042

606,128

12,616

15,659––483,042

606,128*) Including advanced payments received.

G E A Q 3 2 02 3

20

C O N S O L I DAT E D S TAT E M E N T O F C H A N G E S I N E Q U I T YConsolidated Statement of Changes in Equity
as of September 30, 2023

Accumulated other comprehensive income(EUR thousand)
Balance at Jan. 1, 2022
(178,195,139 shares)

Issued capital

Capital reserves

Retained earnings

Translation offoreign operations

Result from fair value
measurement offinancial instruments

Result of
cash flow hedges

Equity attributable
to shareholders of
GEA Group AG

Non-controllinginterests

Total
2,076,211

513,753

1,217,861

282,089

63,185–-1,094

2,075,794

417

Profit for the period––

255,918–––

255,918–

255,918

Other comprehensive income––

208,219

99,898–260

308,377–

308,377

Total comprehensive income––

464,137

99,898–260

564,295–

564,295

Purchase of treasury shares-12,157–-138,307–––-150,464–-150,464

Dividend payment by GEA Group AG––-159,590–––-159,590–-159,590

Adjustment hyperinflation*

–

–

938

642

–

–

1,580

–

1,580

Changes in combined Group

–

–

1,193

–

–

–

1,193

–

1,193

Balance at September 30, 2022
(173,978,458 shares)

501,596

1,217,861

450,460

163,725–-834

2,332,808

417

2,333,225

Balance at Jan. 1, 2023
(172,365,312 shares)

496,945

1,217,861

488,394

79,725-2,47781

2,280,529

415

2,280,944

Profit for the period––

300,334–––

300,334–

300,334

Other comprehensive income––

15,754-14,857-1,301

-102

-506

–

-506

Total comprehensive income––

316,088-14,857-1,301-102

299,828–

299,828

Purchase of treasury shares-99–-1,215–––-1,314–-1,314

Dividend payment by GEA Group AG––-163,715–––-163,715–-163,715

Adjustment hyperinflation*

–

–

3,374

2,316

–

–

5,690

–

5,690

Changes in combined Group

–

–

3,341

–

–

–

3,341

–

3,341

496,846

1,217,861

646,267

67,184-3,778-21

2,424,359

415

2,424,774

Balance at September 30, 2023
(172,331,076 shares)*) Effect of accounting for hyperinflation in Argentina and Turkey.

G E A Q 3 2 02 3

21

F I N A N C I A L C A L E N DA R / I M P R I N T

FINANCIALCALENDAR
March 7, 2024
Annual Report 2023

April 30, 2024

Annual Shareholders‘ Meeting for 2023

May 8, 2024

Quarterly Statement for the period to March 31, 2024

August 7, 2024

Investor Relations
Phone+49 211 9136-1081

Mail

ir@gea.com

Media Relations
Phone+49 211 9136-1492

Mail

pr@gea.com

Imprint
Published by:
GEA Group AktiengesellschaftPeter-Müller-Straße 12, 40468 Düsseldorf, Germany
gea.comThis quarterly statement includes forward-looking statements on GEA Group
Aktien­gesellschaft, its subsidiaries and associates, and on the economic andpolitical conditions that may influence the business performance of GEA. All
these statements are based on assumptions made by the Executive Board
using information available to it at the time. Should these assumptions prove tobe wholly or partly incorrect, or should further risks arise, actual businessperformance may differ from that expected. The Executive Board therefore
cannot assume any liability for the statements made.
Note regarding the rounding of figures
Due to the commercial rounding of figures and percentages, small deviations
may occur.
Note to the quarterly statement
This quarterly statement is the English translation of the original German
version. In case of deviations between these two, the German version prevails.

Edited by:
Corporate Accounting, Investor Relations, Corporate Finance
Coordination:
Katja Redweik
Layout:Christiane Luhmann, luhmann & friends

Half-yearly Financial Report for the period to June 30, 2024

November 6, 2024

Quarterly Statement for the period to September 30, 2024

GEA Stock: Key data
WKN

660 200

ISIN

DE0006602006

Reuters code

G1AG.DE

Bloomberg code

G1A.GR

Xetra

G1A.DEG E A Q 3 2 02 3

22

GEA.com

GEA/Q3/EN/0030© GEA Group Aktiengesellschaft. All rights reserved.

Subject to modifications. Printed in Germany.