Profile

GEA is a world leader in the supply of equipment and project management for a wide range of processing industries. Its technology focuses on components and production processes for various markets, particularly in the Food & Beverage sectors. The company employs more than 18,000 people worldwide.

2.0 %
Portfolio value 06/30/2021
3.2 %
(1) Net dividend 12/31/2020

Excluding the reimbursements by the French tax authorities of withholding taxes which had been applied to Total and ENGIE dividends

Investment case

The industry combines favorable long-term trends, consolidation opportunities and high barriers to entry:

  • Food & Beverage end-markets driven by urbanization with growing middle class
  • Increasing focus on food safety and quality
  • Greater interest in energy efficient automation.

In this sector, GEA is a global leader that offers upside potential:

  • Global leader with #1 or #2 positions in most of its markets
  • Unique technology, know-how and innovation power
  • New management team focusing on accelerating medium term organic growth and improving profitability
  • Solid cash generation and balance sheet profile
  • Good positioning to seize consolidation opportunities
  • Supervisory Board 1/12*
  • Presiding Committee 1/6*
  • Supervisory Board Presiding Committee