10050715 2025-01-01 2025-12-31 10050715 2025-01-01 2025-12-31 1 10050715 2025-01-01 2025-12-31 2 10050715 2025-01-01 2025-12-31 1 10050715 2025-01-01 2025-12-31 2 10050715 2025-01-01 2025-12-31 3 10050715 2025-01-01 2025-12-31 4 10050715 2025-01-01 2025-12-31 5 10050715 2025-01-01 2025-12-31 1 10050715 2025-01-01 2025-12-31 2 10050715 2024-01-01 2024-12-31 10050715 2025-12-31 10050715 2024-12-31 10050715 2024-12-31 fsa:ContributedCapitalMember 10050715 2024-12-31 fsa:ReserveForDevelopmentExpenditureMember 10050715 2024-12-31 fsa:RetainedEarningsMember 10050715 2024-12-31 fsa:ProposedDividendRecognisedInEquityMember 10050715 2025-01-01 2025-12-31 fsa:ContributedCapitalMember 10050715 2025-01-01 2025-12-31 fsa:ReserveForDevelopmentExpenditureMember 10050715 2025-01-01 2025-12-31 fsa:RetainedEarningsMember 10050715 2025-01-01 2025-12-31 fsa:ProposedDividendRecognisedInEquityMember 10050715 2025-01-01 2025-12-31 cmn:OtherRenderingOfReportedValueMember 10050715 2025-12-31 fsa:ContributedCapitalMember 10050715 2025-12-31 fsa:ReserveForDevelopmentExpenditureMember 10050715 2025-12-31 fsa:RetainedEarningsMember 10050715 2025-12-31 fsa:ProposedDividendRecognisedInEquityMember 10050715 2024-12-31 cmn:OtherRenderingOfReportedValueMember iso4217:DKK xbrli:pure Martin Zola Hansen Management's statement The Execuve Board and Board of Directors have today considered and adopted the Annual Report of GEA PROCESS ENGINEERING A/S for the financial year 1 January - 31 December 2025. The Annual Report is prepared in accordance with the Danish Financial Statements Act. In our opinion the financial statements give a true and fair view of the Company's assets, liabilies, and financial posion on 31 December 2025 and of the results of the Company's operaons for 2025. Further, in our opinion, the Management's review gives a fair review of the development in the Company's acvies and financial maers, of the results for the year and of the Company's financial posion. We recommend that the Annual Report be adopted at the Annual General Meeng. Søborg Martin Zola Hansen Claus Thorsen Klaus Stojentin Kristina Böe Matthias Decker Chairman Nanna Borne Peter Limborg John Employee representative Employee representative To the Shareholders of GEA Process Engineering A/S Opinion In our opinion, the Financial Statements give a true and fair view of the financial posion of the Company at 31 December 2025, and of the results of the Company’s operaons for the financial year 1 January - 31 December 2025 in accordance with the Danish Financial Statements Act. We have audited the Financial Statements of GEA Process Engineering A/S for the financial year 1 January - 31 December 2025, which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounng policies (“the Financial Statements”). Basis for Opinion We conducted our audit in accordance with Internaonal Standards on Auding (ISAs) and the addional requirements applicable in Denmark. Our responsibilies under those standards and requirements are further described in the “Auditor’s responsibilies for the audit of the Financial Statements” secon of our report. We are independent of the Company in accordance with the Internaonal Ethics Standards Board for Accountants’ Internaonal Code of Ethics for Professional Accountants (IESBA Code) and the addional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilies in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Statement on Management’s Review Management is responsible for Management’s Review. Our opinion on the Financial Statements does not cover Management’s Review, and we do not express any form of assurance conclusion thereon. In connecon with our audit of the Financial Statements, our responsibility is to read Management’s Review and, in doing so, consider whether Management’s Review is materially inconsistent with the Financial Statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether Management’s Review provides the informaon required under the Danish Financial Statements Act. Based on the work we have performed, in our view, Management’s Review is in accordance with the Financial Statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not idenfy any material misstatement in Management’s Review. Management’s responsibilies for the Financial Statements Management is responsible for the preparaon of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparaon of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the Financial Statements, Management is responsible for assessing the Company’s ability to connue as a going concern, disclosing, as applicable, maers related to going concern and using the going concern basis of accounng in preparing the Financial Statements unless Management either intends to liquidate the Company or to cease operaons, or has no realisc alternave but to do so. Auditor’s responsibilies for the audit of the Financial Statements Our objecves are to obtain reasonable assurance about whether the Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the addional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Financial Statements. As part of an audit conducted in accordance with ISAs and the addional requirements applicable in Denmark, we exercise professional judgement and maintain professional skepcism throughout the audit. We also: • Idenfy and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecng a material misstatement resulng from fraud is higher than for one resulng from error as fraud may involve collusion, forgery, intenonal omissions, misrepresentaons, or the override of internal control. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effecveness of the Company’s internal control. • Evaluate the appropriateness of accounng policies used and the reasonableness of accounng esmates and related disclosures made by Management. • Conclude on the appropriateness of Management’s use of the going concern basis of accounng in preparing the Financial Statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or condions that may cast significant doubt on the Company’s ability to connue as a going concern. If we conclude that a material uncertainty exists, we are required to draw aenon in our auditor’s report to the related disclosures in the Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or condions may cause the Company to cease to connue as a going concern. • Evaluate the overall presentaon, structure and contents of the Financial Statements, including the disclosures, and whether the Financial Statements represent the underlying transacons and events in a manner that gives a true and fair view. We communicate with those charged with governance regarding, among other maers, the planned scope and ming of the audit and significant audit findings, including any significant deficiencies in internal control that we idenfy during our audit. Hellerup PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 Bo Schou-Jacobsen State Authorised Public Accountant mne28703 Anders Røjleskov State Authorised Public Accountant mne28699 GEA PROCESS ENGINEERING A/S Gladsaxevej 305 DK 2860 Søborg +45 39 54 54 54 10050715 Gladsaxe Strandvejen 44 DK -2900 Hellerup Danske Bank Bernstorffsgade 40 1577 København V Financial highlights DKK million 2025 2024 2023 2022 2021 Key figures Profit/loss Revenue 1,605 1,376 1,938 2,195 2,038 Profit/loss before financial income 179 27 197 248 373 and expenses Profit/loss of financial income and 198 130 182 162 54 expenses Net profit/loss 307 154 321 345 328 Balance sheet Balance sheet total 2,139 2,482 2,493 2,396 2,389 Investment in property, plant, and 3 5 6 5 5 equipment Equity 535 378 969 1,020 973 Ratios Profit margin 11.2% 2.0% 10.2% 11.3% 18.3% Return on assets 8.4% 1.1% 7.9% 10.4% 15.6% Solvency ratio 25.0% 15.2% 38.9% 42.6% 40.7% Return on equity 67.3% 22.9% 32.3% 34.6% 32.4% Explanaon of financial raos Profit Margin Profit before financials x 100 / Revenue Return on Assets Profit before financials x 100 / Total assets at year end Solvency Rao Equity at year end x 100 / Total assets at year end Return on Equity Net profit for the year x 100 / Average equity Development in the year The operang profit for the year is DKK 179 million compared to an operang profit of DKK 27 million in 2024. The profit margin has improved from 2.0% in 2024 to 11.2% in 2025. The revenue expectaons from 2024 were met with DKK 1,6 billion. In 2025, the company experienced a generally higher level of acvity and decreased the fixed cost base, thus improving profits, as expected. Management considers the year's result sasfactory. Targets and expectaons for the year ahead The expectaons for revenue for 2026 is to be within the range of DKK 1.8 billion to DKK 2.1 billion, however the expectaon for profits remain on the same level as of 2025, with a range of DKK 280-320 million. Management foresees also connued intense compeon. Uncertainty regarding recognion and measurement Management assesses that there is a certain degree of uncertainty associated with the recognion and measurement of Contract Work in progress, provisions, development projects and investments in subsidiaries. Unusual events No unusual events have occurred during the financial year. Subsequent events No events materially affecng the assessment of the Annual Report have occurred aer the balance sheet date. Special risks, operang risks, and financial risks OperaƟng risks The company’s principal operaonal risk is related to the ability of being strongly posioned in the important markets. Furthermore, it is important for the company to be at the cung edge of the development within process engineering, including having the possibility to aract and keep employees with qualificaons and experience facilitang this objecve. Management’s review Financial risks Because of the financial posion of the company and its financial resources, the company is only exposed to changes in the interest level to a limited extent. The company is, however, exposed to currency risks related to the current operaon. The company primarily covers its currency risks by forward contracts. Credit risks The credit risks of the company are primarily related to accounts receivable in the balance sheet. The company has no major risks regarding single engagements. The company’s policy when accepng credit risks means that all larger customers and partners are subject to current credit rang. Research and development The company is connuously engaged in adaptaon and improvement of its plants and processes as well as in new developments. The costs of research and development are recognized in the profit and loss statement unless development cost meets the requirements for recognion in the balance sheet. Suppliers and human rights The company has assessed that the biggest exposure regarding human rights is within the supplier area. This area is separately treated in the GEA Compliance Handbook. Local and internaonal regulaons on condions of employment, working hours and health and safety condions are observed in order to comply with the high standard stated in the internal GEA Compliance Handbook. The Compliance Handbook specifically states that discriminaon of employees by virtue of sex, sexual orientaon, origin, color of skin, or other personal features are strictly forbidden. Our purchase organizaon is responsible for vendor management and procures workshop components, third party equipment and services for customer projects and aer sales business. Workshop components are manufactured based on our drawings and specificaons in external workshops in and outside Denmark. Third party services are purchased in accordance with framework supplier agreements or on a case-by-case basis depending on the characteriscs of the supplier or product market. The purchasing staff are all well-trained in 'good purchasing pracce' and the legal aspects of purchasing. Every purchaser has taken an on-line test in an-corrupon and export control organized by GEA Group Compliance Management. The procedures on external workshop audits include evaluaon of working condions, maintenance of producon facilies, cleaning, training of workshop staff and safety measures at the workshop. This has posively contributed to no registered breaches on our internal procedures or any severe noncompliance of our suppliers in 2025. We expect to maintain our focus in this area in the future. Key acvies As in previous years, the core acvity of the company has been engineering and supply of industrial processing plants. Statement of corporate social responsibility The core acvity of the company is engineering and supply of industrial processing plants. The company is a 100% owned subsidiary of GEA Group Holding GmbH, Germany, which is 100% owned by GEA Group Akengesellscha, Germany. The ulmate parent of the company includes business model, in addion to policy, acons, results and risks to each of the mandatory areas under 99b of the Danish Financial Statements Act. Therefore, we refer to the Group's annual report 2025, which can be found here: hps://www.gea.com/en/investors/events-releases/annual-reports/ The below presents an overview of the implemented local CSR iniaves within the company and how we live up to the Group's expectaons and commitments. Risks and how are they managed are reported on Group level. Policy for data ethics The company has adopted the GEA Group’s policies for data protecon and corporate social responsibility. Embedded in these policies is a commitment to the safe processing and handling of data and ethical business pracces which includes: • The collecon, storage, and processing of personal data. • The consideraon of data protecon policies of vendors and 3rd pares. • The use of data to achieve sustainability targets. • The mandatory training of employees in data protecon. The company primarily processes data relang to human resources, customer interacons and supplier contact. The company controls that data is collected for explicit and legimate purposes and processed lawfully and fairly, as well as in a transparent manner in relaon to the data subject. A further descripon of the GEA Group’s principles and policies is available in the 2025 Sustainability Report which can be found here: hps://www.gea.com/en/sustainability/downloads/ 1605297000 1376227000 1041186000 872194000 564111000 504033000 186004000 246958000 199224000 230507000 178883000 26568000 213796000 176906000 80422000 50920000 95813000 97561000 377288000 156833000 70618000 2723000 306670000 154110000 45122000 24792000 13935000 17220000 1606000 3211000 57651000 86515000 118314000 131738000 2108000 2304000 3093000 3478000 996000 10714000 395000 5101000 6592000 21597000 1391426000 1301854000 4834000 4834000 11398000 9623000 1407658000 1316311000 1532564000 1469646000 128711000 128772000 128711000 128772000 140082000 120374000 149446000 94615000 76279000 549267000 69774000 36579000 29511000 15154000 465092000 815989000 12326000 67279000 606129000 1012040000 2138693000 2481686000 100000000 100000000 80163000 85474000 130853000 42912000 224040000 149156000 535056000 377542000 191757000 184389000 33980000 46935000 225737000 231324000 326606000 176871000 742921000 363387000 166498000 1152596000 33557000 40783000 108318000 139183000 1377900000 1872820000 1603637000 2104144000 2138693000 2481686000 100000000 85474000 42912000 149156000 377542000 0 0 0 149156000 149156000 0 -5311000 5311000 0 0 0 0 82630000 0 82630000 100000000 80163000 130853000 224040000 535056000 DKK thousand 2025 2024 1. RevenueProject 1,193,153 1,047,140 Service and Components 412,144 329,087 1,605,297 1,376,227 Revenue split on regions: NCE (North and Central Europe) 300,499 294,918 DACH&EE (DACH and Eastern Europe) 126,396 68,556 NAM (North America) 115,888 137,643 LAM (Latin America) 111,896 51,484 WEMEA (Western Europe, Middle East and Africa) 304,577 311,756 APAC (Asia Pacific) 646,041 511,870 1,605,297 1,376,227 The split into regions follows GEA Groups regional segments. 2. Producon expensesCost of goods sold 845,300 645,774 Wages and salaries 193,380 222,416 Impairment and reversal of write-offs of inventories 2,506 4,004 1,041,186 872,194 3. Staff expensesWages and salaries 460,411 539,172 Pensions 45,047 50,753 Social security 5,228 4,730 510,686 594,655 Including remuneration to Executive Board and Board of Directors Executive Board 4,800 14,393 Board of Directors 0 0 4,800 14,393 602 704 DKK thousand 2025 2024 4. Distribuon expenses Wages and salaries 112,718 148,494 Depreciation and amortization 16,383 14,580 Other expenses 30,126 71,327 Charged to/from group companies 26,777 12,557 186,004 246,958 5. Administrave expenses Wages and salaries 204,587 223,745 Depreciation and amortization 27,899 33,660 Other expenses 5,853 22,282 Charged to/from group companies -39,115 -49,180 199,224 230,507 6. Income from investments in subsidiaries Reversal of prior year impairment (special items) 0 60,842 Dividends from subsidiaries 213,796 116,064 213,796 176,906 7. Financial income Interest received from group enterprises 2,657 16,700 Other financial income 459 613 Exchange adjustments, income 77,306 33,607 80,422 50,920 8. Financial expenses Interest paid to group enterprises 28,031 52,934 Other financial expenses 7,583 730 Exchange adjustments, expenses 60,199 43,897 95,813 97,561 DKK thousand 2025 2024 9. Income tax expense Current tax for the year 33,557 73,725 Deferred tax for the year 7,368 -65,530 Other taxes 16,581 17,930 Adjustment of tax concerning previous years 13,112 -24,472 Adjustment of deferred tax concerning previous years 0 1,070 70,618 2,723 224040000 149156000 82630000 4954000 11. Intangible fixed assets Completed Development Development Acquired Projects in DKK thousand Projects patents Goodwill Progress Cost at 1 January 229,241 38,583 81,225 89,438 Additions for the year 0 0 0 20,531 Disposals for the year 0 0 0 -9,568 Transfers for the year 42,750 0 0 -42,750 Cost at 31 December 271,991 38,583 81,225 57,651 Impairment losses and amortizations at 1 January 204,449 21,363 78,014 2,923 Amortization of disposed assets for the year 0 0 0 -2,923 Amortizations for the year 22,420 3,285 1,605 0 Impairment losses and amortizations at 31 December 226,869 24,648 79,619 0 Carrying amount at 31 December 45,122 13,935 1,606 57,651 12. Property, plant, and equipment Other fixtures Property, and fittings, plant, and Plant and tools, and Leasehold equipment in DKK thousand machinery equipment improvements progress Cost at 1 January 61,269 10,438 119,513 5,101 Additions for the year 662 1,077 1,006 475 Disposals for the year 0 0 0 -5,181 Cost at 31 December 61,931 11,515 120,519 395 Impairment losses & Depreciations at 1 January 58,965 6,960 108,799 0 Depreciations for the year 858 1,462 10,724 0 Impairment losses & Depreciations on 31 December 59,823 8,422 119,523 0 Carrying amount on 31 December 2,108 3,093 996 395 DKK thousand 2025 2024 13. Investment in subsidiaries Cost on 1 January 1,301,854 1,245,645 Additions for the year 89,572 56,209 Cost on 31 December 1,391,426 1,301,854 Value adjustments at 1 January 0 -60,842 Reversal for the year of revaluations in previous years 0 60,842 Value adjustments on 31 December 0 0 Carrying amount on 31 December 1,391,426 1,301,854 The company has calculated the recoverable amount for the individual subsidiaries and compared these to the carrying amount of these. The recoverable amount derived in connecon with the impairment test is calculated on the basis of net cash flow over a period of several years and a growth rate of 1.5%. The Weighted Average Cost of Capital (WACC) is based on a factor of 11.3%, which is the esmated average within the business areas in which the subsidiaries operate. The WACC esmaon is aligned with our Group corporate finance department. Consequently there is a certain degree of uncertainty of investments in subsidiaries. Investments in subsidiaries are specified as follows: Net Place of profit/loss registered for the Name office Ownership Equity year GEA Westfalia Separator DK A/S Denmark 100% 103,616 21,311 GEA Scan-Vibro A/S Denmark 100% 49,437 7,484 GEA Liquid technologies A/S Denmark 100% 47,009 2,300 GEA Finland OY Finland 100% 16,768 -2,681 GEA Process Engineering Pty. Ltd. Australia 100% -37,964 5,295 GEA Equipamentos e Solucões Ltda Brazil 70% 23,527 70,604 GEA Japan Ltd. Japan 100% 26,044 10,785 GEA New Zealand Ltd. New Zealand 100% 120,473 47,614 GEA Process Engineering Pte. Ltd. Singapore 100% -28,987 -10,606 GEA Process Engineering (India) Pvt. Ltd. India 100% 246,078 21,682 GEA Process Engineering Sp. z o.o. Poland 100% 64,091 13,123 GEA Process Engineering N.V. Belgium 100% 408,922 47,360 GEA Process Engineering Chile S.A. Chile 100% -1,046 -866 GEA PROSES MÜHENDİSLİK SANAYİ VE TİCARET Turkey LİMİTED ŞİRKETİ 100% 100,808 -717 GEA Process Engineering S.A. de C.V. Mexico 100% -9,665 -43,857 Gea Process Engineering Cee Korlátolt Hungary Felelösségü Társaság 100% 0 0 14. Other fixed asset investments Other Deposits DKK thousand investments Cost at 1 January 4,834 9,623 Additions 0 1,775 Cost at 31 December 4,834 11,398 DKK thousand 2025 2024 15. Contract work in progress Selling price of work in progress 3,310,380 2,965,124 Invoiced on account -3,903,855 -3,233,896 Contract work in progress, net -593,475 -268,772 Recognized in the balance sheet as follows: Contract work in progress recognized as assets 149,446 94,615 Prepayments received recognized as debt -742,921 -363,387 Contract work in progress, net -593,475 -268,772 16. Prepayments Prepayments consist of prepaid rent, insurance premiums, subscripons, and other expenses. DKK thousand 2025 2024 17. Provision for deferred tax Deferred tax liabilities at 1 January 184,389 248,849 Amounts recognized in the income statement for the year 7,368 -65,530 Adjustment of deferred tax 0 1,070 Deferred tax liabilities at 31 December 191,757 184,389 Intangible assets 26,029 28,982 Tangible assets -3,296 -3,161 Contract work in progress 172,516 162,003 Provisions and debt -3,492 -3,436 191,757 184,389 18. Warranty and other provisions Warranty and guarantee provisions 33,980 28,017 Other provisions 0 18,918 33,980 46,935 All provisions are expected to mature within 1-5 years. 19. Conngent assets, liabilies, and other financial obligaons Rental and lease obligations Lease obligations under operating leases. Total future lease payments: Within 1 year 18,292 21,357 Between 1 and 5 years 85,164 2,717 After 5 years 270,558 0 Rental and lease obligations 374,014 24,074 Guarantee obligations Warranties and guarantee obligations issued by GEA concerning execution of contractual work etc. for third party. 209,868 206,248 Bank guarantees have been given to third parties concerning execution of contractual work etc. for third party 447,647 281,548 Other financial obligaons The Company do not have any material other financial obligaons at the balance sheet date. Other conngent liabilies The Danish group companies are jointly and severally liable for tax on the jointly taxed incomes etc. of the GEA Group. Moreover, the Danish group companies are jointly and severally liable for Danish withholding taxes by way of dividend tax, tax on royalty payments and tax on unearned income. Any subsequent adjustments of corporaon taxes and withholding taxes may increase the Company’s liability. 20. Related pares and disclosure of consolidated financial statements Controlling interest GEA Group Holding GmbH, Germany 100% Transacons GEA Process Engineering A/S is a 100% owned subsidiary of GEA Group Holding GmbH, which is 100% owned by GEA Group Akengesellscha, Germany. GEA Process Engineering A/S’ related pares with material influence include GEA Group Akengesellscha and enterprises, including GEA Group Holding GmbH and its subsidiaries and associates, as well as the subsidiaries listed in note 13. GEA Process Engineering A/S sells and purchases goods and services to/from subsidiaries and associates. In addition to the distribution of dividend, there have been no transactions with capital owner. For transactions with the Executive Board and Board of Directors, please see the note on staff expense. For financial transactions, please see the note on financial income and financial expenses. Other Intercompany transacons are as below: DKK thousand 2025 2024 Revenue from sales of goods and services to group enterprises 527,280 483,342 Costs of sales and services paid to group enterprises 242,537 183,231 Distribution and administration income allocated from group enterprises 1,064,103 739,995 Distribution and administration expenses allocated from group enterprises 764,950 481,216 Paid dividend to parent 149,156 372,645 Dividends from subsidiaries, income 213,796 116,064 Contract work in progress towards group, assets 31,862 31,922 Contract work in progress towards group, liabilities 167,764 114,019 Consolidated Financial Statements The Company is included in the Group Annual Report of the Parent Company of the largest and smallest group: Name Place of registered office GEA Group Aktiengesellschaft Germany The Group Annual Report of GEA Group Akengesellscha for 2025 may be obtained at the following address: GEA Group Akengesellscha, Ulmenstrasse 99, D-40476 Düsseldorf, Germany, or at: hps://www.gea.com/en/investors/annual-report/ 21. Subsequent events No events materially affecng the assessment of the Annual Report have occurred aer the balance sheet date. true The Financial Statements for 2025 are presented in TDKK. Reclassificaon adjustment to comparave figures Reclassificaons have been made in individual items in the note for related pares and disclosure of consolidated financial statements. This has not affected the result and equity of this year or last year and has been made solely to ensure the comparability of the individual items in the note. Consolidated Financial Statements In accordance with § 112 of the Danish Financial Statements Act, and with reference to the consolidated financial statements of GEA Group Akengesellscha for 2025, the Company has not prepared separate consolidated financial statements. Disclosure of auditor’s fees In accordance with § 96, paragraph 3 of the Danish Financial Statements Act, the Company has not disclosed the fee paid to auditors appointed at the general meeng. Cash flow statement In accordance with § 86, paragraph 4 of the Danish Financial Statements Act, and with reference to the cash flow statement included in the consolidated financial statements of GEA Group Akengesellscha, the Company has not prepared a separate cash flow statement. Recognion and measurement Revenue is recognized in the income statement when earned. In addion, value adjustments of financial assets and liabilies measured at fair value or amorzed cost are recognized. All expenses incurred in generang the revenue for the year are recognized in the income statement, including depreciaon, impairment losses, and provisions, as well as reversals arising from changes in accounng esmates related to amounts previously recognized in the income statement. Assets are recognized in the balance sheet when, as a result of a past event, it is probable that future economic benefits will flow to the company and the value of the asset can be measured reliably. Liabilies are recognized in the balance sheet when the company has a legal or construcve obligaon arising from a past event, and it is probable that selement will result in an oulow of economic benefits, provided the obligaon can be measured reliably. Assets and liabilies are inially measured at cost and subsequently measured in accordance with the specific accounng policies described for each item below. Gains, losses, and risks arising before the preparaon of the annual report, and which confirm or refute condions exisng at the balance sheet date, are taken into account in recognion and measurement. Translaon policies Transacons in foreign currencies are inially recognized at the exchange rate prevailing on the transacon date. Any exchange differences arising between this rate and the rate on the date of selement are recognized as financial income or expense in the income statement. Receivables and liabilies denominated in foreign currencies are translated into Danish Kroner using the exchange rate at the balance sheet date, or the rate specified in forward contracts if hedged. Exchange differences between the rate at the balance sheet date and the rate at inial recognion are recognized as financial income or expense in the income statement.Leases Lease agreements in which the Company assumes all significant risks and rewards associated with ownership (finance leases) are recognized in the balance sheet at the lower of the fair value of the asset and the present value of the future lease payments, calculated using the internal rate of return of the lease agreement or an approximate equivalent as the discount rate. Finance leased assets are depreciated and impaired in accordance with the same policies applied to the Company’s other fixed assets. The capitalized remaining lease obligaon is recognized in the balance sheet as a liability, and the interest poron of the lease payment is expensed connuously in the income statement. All other lease agreements are considered operang leases. Payments related to operang leases are recognized on a straight-line basis in the income statement over the lease term Income statementRevenue For Revenue recognion IFRS 15 is applied as interpretave guidance in determining revenue recognion policies under the Danish Financial Statements Act. Income from the sale of goods for resale and finished goods is recognized in the income statement when delivery has occurred, the risk has transferred to the buyer, and the revenue can be reliably measured and is expected to be received. Revenue is measured net of VAT and other taxes collected on behalf of third pares. Any discounts granted are deducted directly from revenue. Income from construcon contracts is recognized based on the stage of compleon, meaning revenue reflects the selling price of work performed during the year (percentage of compleon method). If the outcome of a contract cannot be reliably esmated, revenue is recognized only to the extent of costs incurred that are expected to be recoverable. Producon expenses Producon costs comprise expenses incurred in generang revenue for the year, including both direct and indirect costs. These encompass raw materials, consumables, wages and salaries, as well as costs related to rent and leases. Depreciaon Depreciaon is calculated on a straight-line basis over the expected useful lives of the assets. The depreciaon method and useful lives are reviewed annually and adjusted if necessary. Depreciaon is recognized under producon expenses, distribuon expenses, and administrave expenses in the income statement, depending on the use of the asset. Distribuon expenses Costs incurred in distribung goods sold during the year and in conducng sales campaigns, etc., during the year are recognized as distribuon costs. Also, costs relang to sales staff, adversing, exhibions, and depreciaon are recognized as distribuon costs. Administrave expenses Administrave expenses comprise expenses incurred during the year for company management and administraon, including expenses for administrave staff, management, office premises and office expenses, and depreciaon. Income from investments in subsidiaries Income from investments in subsidiaries comprises dividends received, impairment losses on investments in subsidiaries, and reversals of such impairments. Dividends are recognized in the income statement when declared at the subsidiary’s General Meeng. Dividends relang to profits earned by the subsidiary prior to its acquision by the Parent Company are deducted from the cost of the investment. Financial income and expenses Financial income and expenses include interest income and expenses as well as realized and unrealized exchange gains and losses related to transacons in foreign currency. Tax on profit/loss for the year Tax for the year consists of current tax for the year and deferred tax for the year. The tax aributable to the profit for year is recognized in the income statement, whereas the tax aributable to equity transacons is recognized directly in equity. The Company is jointly taxed with Danish group companies. The Company is administrave company for the joint taxaon and consequently seles all payments of corporaon tax to the Danish Tax authories. The tax effect of the joint taxaon with other Danish group enterprises is allocated to enterprises showing profits or losses in proporon to their taxable incomes (full allocaon with credit for tax losses). Balance Sheet Intangible fixed assetsGoodwill acquired is measured at cost less accumulated amorzaon. Amorzaon is applied on a straight-line basis over the esmated useful life, which is assessed to be a maximum of 20 years. Patents and licenses are measured at the lower of cost less accumulated amorzaon and the recoverable amount. Patents are amorzed over their remaining legal term, and licenses over the contractual period, not exceeding three to five years. Development costs include expenses, salaries, and amorzaon directly or indirectly aributable to development acvies. Development projects that are clearly defined and idenfiable, where technical feasibility, adequate resources, and a potenal market or internal use are demonstrable, and where the Company intends to complete and ulize or sell the asset, are recognized as intangible assets. Recognion is subject to the ability to reliably measure the cost and the reasonable assurance that future economic benefits will cover producon, sales, administrave, and development costs. All other development costs are expensed as incurred. Capitalized development costs are measured at cost less accumulated amorzaon and impairment losses. Upon compleon, these costs are amorzed on a straight-line basis over their esmated useful life, typically three to five years. Property, plant, and equipment Property, plant, and equipment are measured at cost less accumulated depreciaon and less any accumulated impairment losses. Cost comprises the purchase price and expenses directly aributable to the acquision up to the me the asset is ready for use. For assets of own producon, cost includes both direct and indirect expenses related to labor and materials. Depreciaon is calculated on a straight-line basis over the expected useful lives of the assets, based on cost less any residual value. The expected useful lives are as follows: Plant and machinery 3-15 years Other fixtures and fings, tools, and equipment 3-8 years Leasehold improvements 1-30 years The residual values of fixed assets are assessed at zero. Useful life and residual value are reassessed annually.Gains and losses from the sale of property, plant and equipment are calculated as the difference between selling price minus selling costs and carrying amount at the me of sale. Gains or losses are included in the income statement under administrave expenses. Fixed asset investments Fixed asset investments consist of Investments in subsidiaries which are measured at cost. Where cost exceeds the recoverable amount, write-down is made to this lower value. Other fixed asset investments consist of shares in enes not considered subsidiaries. Previously recognized write-downs are reversed when the reason for the write-downs no longer exists and recoverable amount exceeds the cost price. Reversed write-downs are recognized in the income statement as financial income. Impairment of fixed assets The carrying amounts of intangible assets and property, plant, and equipment as well as equity investments in group enes are reviewed on an annual basis to determine whether there is any indicaon of impairment other than that expressed by amorzaon and depreciaon. If so, an impairment test is carried out to determine whether the recoverable amount is lower than the carrying amount. If so, the asset is wrien down to its lower recoverable amount. The recoverable amount of the asset is calculated as the higher of net selling price and value in use. Where a recoverable amount cannot be determined for the individual asset, the assets are assessed in the smallest group of assets for which a reliable recoverable amount can be determined based on a total assessment. Inventories Inventories are measured at the lower of cost under the FIFO method and net realizable value. The cost of goods for resale, raw materials and consumables consists of purchase price plus landing cost. Goods of own producon are measured at the lower value of direct material and wages with addion of indirect producon cost, or net realizable value. Receivables IFRS 9 is applied as interpretave guidance for the recognion and measurement of financial instruments under the Danish Financial Statements Act. Receivables are measured in the balance sheet at the lower of amorzed cost and net realizable value, which corresponds to nominal value less provisions for bad debts. Contract work in progress Contract work in progress is measured at selling price of the work performed calculated on the basis of the stage of compleon. The percentage of compleon is determined as the rao between direct allocated costs, including materials, wages etc. with the addion of indirect producon costs related to the contract work and latest esmated total cost. Contract work in progress and invoicing on account in foreign currency have been translated at the rates of exchange in effect on the date of contract. In cases where invoicing on account exceeds the recognized sales value of a contract, the exceeding amount has been included in current liabilies as part of advance payment from customers. Prepayments Prepayments comprise prepaid expenses concerning subsequent financial years. Prepayments are measured at cost. Equity Reserve for development costs The reserve for development costs comprises capitalized development costs. The reserve cannot be used for dividend, distributed or cover losses. If the recognized development costs are sold or in other ways excluded from the Company’s operaons, the reserve will be dissolved and transferred directly to the distributable reserves under equity. If the recognized development costs are wrien down, the part of the reserve corresponding to the write-down of the development costs will be reversed. If a write-down of development costs is subsequently reversed, the reserve will be re-established. The reserve is reduced by amorzaon of capitalized development costs on an ongoing basis. Dividend Dividend distribuon proposed by Management for the year is disclosed as a separate equity item. Provisions Other provisions, including expected costs for warranes, losses on contract work in progress, restructuring, and similar obligaons, are recognized when a present obligaon exists at the balance sheet date. Warranty provisions cover commitments to repair work within the warranty period. Based on historical experience, a provision has been made to cover ancipated warranty expenses. If it is probable that the total costs of contract work in progress for third pares will exceed the total expected income, a provision for the full ancipated loss is recognized under the cost of manufactured goods. Deferred tax assets and liabilies Deferred income tax is measured using the balance sheet liability method, recognizing temporary differences between the tax bases of assets and liabilies and their carrying amounts in the financial statements, based on the intended use of the asset or selement of the liability. Deferred tax assets are recognized at the value at which they are expected to be realized, either through offset against future taxable income or through set-off against deferred tax liabilies within the same legal tax enty. Deferred tax is calculated using the tax rules and rates enacted at the balance sheet date, which are expected to apply when the deferred tax is realized as current tax. Changes in deferred tax arising from changes in tax rates are recognized in the income statement or in equity, depending on whether the deferred tax relates to items recognized in equity. Current tax receivables and liabilies Current tax liabilies and receivables are recognized in the balance sheet as the expected taxable income for the year adjusted for tax on taxable incomes for prior years and tax paid on account. Current tax payable and receivable is recognized in the balance sheet as amounts owed by or to affiliates. Financial debts Financial liabilies are measured at amorzed cost, substanally corresponding to nominal value. Annual report Auditor's report on audited financial statements ParsePort XBRL Converter 2025-01-01 2025-12-31 2024-01-01 2024-12-31 2026-06-26 Reporting class C, large enterprise 2026-06-26 CEO 10050715 GEA PROCESS ENGINEERING A/S Gladsaxevej 305 2860 Søborg Opinion Basis for Opinion 2026-06-26 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup DK