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
| GEA cash credit lines incl. discontinued operations
(EUR million) |
Maturity | 12/31/2018 approved | 12/31/2018 utilized |
|---|---|---|---|
| Borrower‘s note loan (2023) | February 2023 | 128 | 128 |
| Borrower‘s note loan (2025) | February 2025 | 122 | 122 |
| European Investment Bank | December 2025 | 150 | 50 |
| Bilateral credit lines including accured interests | until further notice | 74 | 18 |
| Syndicated credit line („Club Deal“) | August 2022 | 650 | – |
| Total | 1,124 | 318 |
Net liquidity
| Overview of net liquidity incl. discontinued operations (EUR million) | 12/31/2018 | 12/31/2017 |
|---|---|---|
| Cash and cash equivalents | 247.9 | 250.5 |
| Liabilities to banks | 320.1 | 244.9 |
| Net liquidity (+)/Net debt (-) | –72.2 | 5.6 |
| Gearing (%) | 2.9 | –0.2 |