Annual General Meeting Fiscal Year 2016

Transcription

1 Annual General Meeting Fiscal Year 2016 Oberhausen, Germany, JÜRG OLEAS, CEO CHECK AGAINST DELIVERY.

2 Agenda 1 Fiscal Year Focus on the Future 3 Outlook for Fiscal Year

3 Order intake* (EUR million) +1.8 % 4,590 4,674 BA Equipment 2, % 2,347 BA Solutions 2, % 2, * Please note that the difference between the sum posted by the Business Areas (BAs) and that shown by the Group is due to Consolidation/Others 3

4 Order intake in the top 12 growth countries* Country Organic growth 2016 (in %) Mexico 99.8 New Zealand 98.5 India 90.5 Vietnam 81.1 Poland 62.6 Thailand 53.7 Sweden 44.7 Switzerland 42.5 Egypt 41.9 Spain 34.7 Japan 33.6 Singapore 30.6 Total 61.0 * Growth countries with order intake > EUR 20 million Smaller countries very quickly benefit from the OneGEA sales focus 4

5 Revenue* (EUR million) -2.3 % 4,599 4,492 BA Equipment 2, % 2,262 BA Solutions 2, % 2, * Please note that the difference between the sum posted by the Business Areas (BAs) and that shown by the Group is due to Consolidation/Others 5

6 Revenue by application 15 % 12 % Dairy Farming 70 % Dairy Processing w 15 % 20 % Food Revenue 2016: EUR 4,492 million Beverages 13 % 25 % 30 % Pharma/Chemical w Other Industries 6

7 Regional revenue split North America 18 % 15 % North and Central Europe 20 % DACH & Eastern Europe Emerging Markets* 36 % Top 3 Countries 6 % 16 % USA 23 % Latin America 18 % Germany Western Europe, Middle East & Africa Asia Pacific 9 % 8 % China * According to the definition of emerging/developing economies given by the International Monetary Fund 7

8 Service business development*: 31 % of revenue in fiscal year 2016 (EUR million) +2.6 % 1,351 1, % +6.8 % GEA BA Equipment BA Solutions 8

9 Operating EBITDA margin (EUR million) 11.9 % 12.3 % 13.1 % 13.5 % 12.6 % 4,142 4,320 4,516 4,599 4,492 Revenue Operating EBITDA margin 9

10 Operating cash flow driver margin (EUR million) 10.3 % 9.5 % % Operating EBITDA Delta working capital (average LTM) Capex Operating cash flow driver margin Q4 15 Q4 16 EBITDA Capex Working Capital (average L12M) Revenue Revenue Revenue 10

11 Balance sheet (EUR million) Assets 6,108 6,121 Equity and liabilities 6,108 6,121 Non-current assets 2,980 2,874 Equity 2,996 2,844 Equity ratio 49.0 % Non-current liabilities 1,150 1,273 Current assets Thereof assets held for sale 3,128 3, Current liabilities Thereof debts held for sale 1,963 2, /31/16 12/31/15 12/31/16 12/31/15 11

12 Employees* by region North America 10 % 18 % North and Central Europe 37 % DACH & Eastern Europe 12/31/ ,937 2 % Latin America 16 % Western Europe, Middle East & Africa 17 % Asia Pacific * Full-time equivalents (only consolidated entities and continued operations) as of reporting date, excluding vocational trainees and inactive employment contracts 12

13 Development of GEA share (in %) Dec Dez Jan Feb Mar Mrz Apr May Mai Jun Jul Aug Sep Oct Okt Nov Dec Dez Jan Feb Mar Mrz 80 GEA MDAX STOXX Europe TMI Industrial Engineering Hauptversammlung Geschäftsjahr April

14 Dividend payments 1 and proposal (EUR million) Dividend payments for the preceding fiscal year, respectively 2 On basis of dividend proposal and based on shares, which were issued by GEA Group Aktiengesellschaft on December 31, 2016 (subject to correction due to the decided share buyback program) Dividend proposal Dividend payment Dividend per share in EUR 14

15 Authorized Capital I 6. Cancellation of Authorized Capital I in accordance with s. 4 para. 3 of the Articles of Association, creation of a new Authorized Capital I combined with the authorization to exclude subscription rights, in order to eliminate fractional amounts and to compensate dilutive effects to the detriment of the creditors of bonds cum conversion or option rights and/or obligations and the corresponding amendment to s. 4 para. 3 of the Articles of Association 15

16 Share buyback program Period 03/01/ /28/2018 Total value Purchase Estimated number of shares* Share of nominal capital* 6.13 % Purpose up to EUR 450 million only over the stock exchange 11,792,452 no par value shares Cancellation of shares Purchased up to and including April 13, 2017 Average purchase price EUR ,480,950 no par value shares (0.77 % of nominal capital) Total investment EUR 58,161, * Based on the Xetra closing price on February 3, 2017 (EUR 38.16), the basis of the ad-hoc disclosure 16

17 Agenda 1 Fiscal Year Focus on the Future 3 Outlook for Fiscal Year

18 Focus on standardization Countries with GEA locations > 250 companies worldwide Separate brand identity vis-à-vis the customer > 80 different management control systems Individual R&D activities, etc. For the most part, unified brand identity due to GEA s country organizations Standardized processes for HR, Finances, IT Innovation management under a centralized leadership 18

19 Successful strategic realignment over a period of 5 years Quo vadis, GEA? The road ahead Which core businesses? In which growth markets? Based on which Based on which corporate structure? initiatives? & after Target definition Strategic portfolio review GEA 2020 Prioritization of applications (in the food sector) Fit for 2020 Reorganization Completion of OneGEA Procurement & manufacturing, Control systems, Digitalization, IT architecture 19

20 Innovation essential success factor for growth New R&D Organization GEA rotoramic Bundling of resources across whole GEA Higher efficiency for the whole innovation system OxyCheck Monobox ConsiGma Optimized mix different innovation types Higher speed and agility while realizing innovations Chili Coated Lollis 20

21 Engineering for a better world Sustainability goes beyond eco-friendly products. It embraces ecological, but also economic and social aspects while including all key stakeholders. Sustainability reporting in line with the most prominent international GRI standard that far exceeds legal requirements CSR matters will remain part of a combined report included in the Annual Report 21

22 Agenda 1 Fiscal Year Focus on the Future 3 Outlook for Fiscal Year

23 Preliminary figures Q (EUR million) Order Intake Revenue Operating EBITDA* -0.8 % +6.2 % +1.2 % 1,144 1, , Q Q Q Q Q Q * Scale adjusted for better visibility Hauptversammlung Geschäftsjahr April

24 Guidance for fiscal year 2017 We are aiming for, in the absence of: any further weakening of global economic growth and in particular, material weakening in any of our relevant customer industries, or adverse shifts in demand among those industries resulting in a negative margin impact material adverse currency (translation or competitive) impacts Revenue (in reported terms) Moderate growth Operating EBITDA (adjusted for strategic projects; EURm) Operating Cash Flow Driver Margin (based on operating EBITDA and on capex adjusted for strategic projects) 8,5 % 9,5 % 24

25 Financial calendar MAY JULY OCTOBER Quarterly Statement Q Half-yearly Financial Report Q Quarterly Statement Q

26 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 with respect to the future are characterized by the use of words such as "expect", "intend", "plan", "anticipate", "believe", "estimate" and similar terms. Forward-looking statements are based on our current assumptions and forecasts. These statements naturally entail risks and uncertainties, which may cause the actual results of operations, financial position or performance to diverge materially from the estimates given here. Factors that could cause such a divergence include, inter alia, changes in the economic and business environment, fluctuations in exchange rates and interest rates, launches of competing products, poor acceptance of new products or services, and changes in business strategy. Given these uncertainties, readers should not put undue reliance on any forwardlooking statements. We undertake no obligation to update or revise any forward-looking statements. Due to the commercial rounding of figures and percentages, small deviations may occur. 26

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