GEA is one of the largest suppliers of process technology to the food industry
Share capital
(09/30/2020)
8.5 %
Voting rights
(09/30/2020)
8.5 %
Stake value
(09/30/2020)
€ 461 M
Dividend
(12/31/2019)
€ 13.1 M
Investment year
2017
Business area
Process technology for the food industry
Sales
€ 4,880 M
Employees
18,500
Registered office
Düsseldorf, Germany
Website
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 about 18,500 people worldwide.
Portfolio value 09/30/2020
2.4 %
Net dividend 12/31/2019
2.7 %
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
