E_mg_GB_03_vorne-29_3_04

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30 GEA’s divisions process engineering components Heat exchangers, valves/pumps, homogenizers SPECIAL SECTION SPECIALTY MECHANICAL ENGINEERING GEA energy technology As a technology leader in its markets, GEA AG develops and supplies sophisticated, mostly individually customized process lines, systems plant, and components throughout the world. It is either first or second worldwide in all the businesses in which it operates, the only exception being its air-treatment business, which only operates in Europe, where it is number two. Structure: decentralized, flexible, customer-focused GEA’s business is split into seven divisions, each of which focuses on its core technologies: process engineering components, energy technology, air treatment, refrigeration, process engineering, mechanical separation, and dairy farm systems. Within each division, business units organized as medium-sized enterprises and run on a decentralized basis operate in their respective markets. This structure ensures a high degree of flexibility, swift market access and sharp client focus. GEA is therefore able to offer its customers in key markets one-stop technologies right along the value chain. One example of this is milk processing: GEA supplies the process engineering capability and the expertise – from the milking equipment and the cooling of fresh milk to the stage where the milk is processed into cream, cheese or powdered milk, including the extraction of valuable by-products such as calcium. Power plant and process cooling (dry/wet) air treatment Air treatment equipment refrigeration Screw compressors, reciprocating compressors, refrigeration equipment process engineering Industrial drying, thermal separation technology, liquid processing mechanical separation Separators, decanters dairy farm systems Milking equipment, cooling tanks, services
MANAGEMENT SHARE STRATEGY SPECIAL SECTION MANAGEMENT REPORT FINANCIAL STATEMENTS FURTHER INFORMATION Innovation: driving technology and quality leadership The key to GEA’s success is its leadership in technology and quality. The company invests heavily in innovation in order to provide its customers with a competitive advantage in the form of cutting-edge technology and efficiency improvements. Depending on business line, GEA already generates up to 70 percent of its sales from products that are less than three years old. Compared to its competitors, the company therefore occupies one of the top spots. Research and development and the encouragement of an innovative culture are two of the prime management functions at GEA. In its annual innovation competition, its various divisions compete against each other with their latest developments. The top three receive cash prizes that are added to the winning companies’ R&D budgets. Main markets: future holds out prospect of stable growth GEA’s most important markets – accounting for around 60 percent of its sales – are the food, beverage, dairy, and pharmaceutical industries. These markets possess sustainable growth potential and are relatively non-cyclical. The growth drivers in these areas are the world’s rapidly increasing population and its growing demand for foodstuffs and healthcare as well as rising incomes, particularly in the emerging markets. Other key markets for GEA are the power-generating, chemical, petrochemical, construction and shipbuilding industries. Specialty mechanical engineering • Industrial plant engineering • <strong>mg</strong> chemical group Sales GEA in s million 2,874.4 2,702.0 01/02 <strong>03</strong> 31
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Key Figures for the mg Group RESULT
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