Profile

GEA is a world leader in the supply of equipment and project management for a wide range of processing industries. Its technology and services focus on components and manufacturing solutions for various markets, particularly in the Food & Beverage and Pharmaceutical sectors. The company employs more than 18,100 people worldwide.

1.9 %
Portfolio value 09/30/2022
3.1 %
Net dividend 12/31/2021
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
  • Pharmaceutical end-markets driven by ageing population and increasing health awareness
  • Continuing focus on safety and quality in both Food & Beverages and Pharmaceuticals
  • Greater interest in energy efficient automation and ESG more broadly.

GEA is a global leader offering significant upside potential:

  • #1 or #2 positions in most of its markets
  • Unique technology, know-how, innovation as well as leadership in ESG
  • Proven management team focusing on accelerating medium-term organic growth and improving profitability
  • Increasing exposure to attractive margin operations such as its service segment
  • Solid cash generation and balance sheet profile
  • Good positioning to seize consolidation opportunities.
  • Supervisory Board 1/12*
  • Presiding Committee 1/4*
  • Nomination committee 1/3*
  • Supervisory Board Presiding Committee Nomination committee