The goal of GEA’s financing strategy is not only to be able to meet its payment obligations whenever they fall due, but also to ensure that sufficient cash reserves are always available in the form of credit lines, in addition to maintaining a strategic cash position. The centralized liquidity portfolio is managed mainly for capital preservation and risk reduction by diversifying the cash investments.

Financing Structure
(EUR thousand) Maturity 12/31/2016 approved 12/31/2016 utilized 12/31/2015 approved 12/31/2015 utilized
GEA Bond April 2016 - - 274,739 274,739
European Investment Bank
July 2017 50,000 50,000 50,000 50,000
Borrower‘s note loan
September 2017 90,000 90,000 90,000 90,000
Syndicated credit line (“Club Deal”)
August 2021 650,000 650,000 -
Various (bilateral) credit lines including accurred interests Maximum of 1 year or “until further notice“ 65,664 6,496 134,611 14,391
Total 855,664
146,496
1,199,350
429,130
Net debt
(EUR thousand) 12/31/2016 12/31/2015
Liabilities to banks –55,845 –55,869
Borrower‘s note loan –90,651 –90,595
Bonds - –282,666
Cash and cash equivalents 929,120 1,174,150
Current securities - 37,000
Fixed deposits with a remaining period ≤ 1 year - 200,000
Net liquidity (+)/Net debt (-) 782,624 982,020
Equity 2,995,604 2,844,199
Equity ratio 49.0% 46.5%
Gearing –26.1% –34.5%