The group’s financial management encompasses liquidity management, group financing, and the management of interest rate and exchange rate risks.
GEA Group Aktiengesellschaft is home to GEA’s central financial management operations, the latter being responsible for reducing financing costs as far as possible, optimizing interest rates for financial investments, minimizing counterparty credit risk, leveraging economies of scale, hedging interest rate and exchange rate risk exposures as effectively as possible, and ensuring that loan covenants are complied with. 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. The capital structure is monitored regularly using various key financial indicators so as to optimize capital costs. Core indicators include the equity ratio and the net debt to equity ratio (gearing).
|(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
|Borrower‘s note loan
|Syndicated credit line (“Club Deal”)
|Various (bilateral) credit lines including accrued interests||Maximum of 1 year or “until further notice“||65,664||6,496||134,611||14,391|