LA CREACIÓN DEL MAYORAZGO DE JACARILLA, 1572

Financial liabilities as of December 31, 2012, were composed of the following items:

(EUR thousand) 12/31/2012 12/31/2011

Borrower‘s note loan 299,477 128,245

Bonds 397,724 397,290

Liabilities to banks 253,799 232,110

Liabilities under finance leases 38,519 39,972

Liabilities from derivatives 15,926 16,191

Non-current financial liabilities 1,005,445 813,808

Borrower‘s note loan 56,066 479

Bonds 11,877 11,844

Liabilities to banks 50,090 49,246

Liabilities under finance leases 4,106 4,192

Liabilities from derivatives 8,371 24,424

Liabilities to equity investments 1,955 3,901

Current financial liabilities 132,465 94,086

Total financial liabilities 1,137,910 907,894

The financing of GEA Group as of December 31, 2012, consisted mainly of the following items:

(EUR thousand) Carrying amount12/31/2012 Carrying amount12/31/2011 Notional value12/31/2012 12/31/2012Fair value Maturity Borrower‘s note loan (2013) 56,066 128,724 55,000 55,631 August 16, 2013

GEA Bond 409,601 409,134 400,000 445,980 April 21, 2016

Kreditanstalt für Wiederaufbau (KfW) (May 2016) 80,099 90,389 80,000 81,722

yearly installments until Mai 31, 2016 Kreditanstalt für Wiederaufbau (KfW)

(December 2016) 56,004 – 56,000 56,675

from March 31, 2013 quarterly installments until December 30, 2016 European Investment Bank 150,344 150,805 150,000 155,780 July 14, 2017 Borrower‘s note loan (2017) 299,477 – 300,000 317,336 September 19, 2017

excluding interest rate hedges

Bond

On 14 April 2011, GEA Group Aktiengesellschaft issued a bond amounting to EUR 400,000 thousand. The bond has a five-year term and a fixed coupon of 4.25 percent. The bond is unsecured. It is listed on the regulated market of the Luxembourg Stock Exchange.

Borrower’s note loans

In 2012, GEA Group Aktiengesellschaft placed borrower’s note loans with a nominal amount of EUR 300,000 thousand. Borrower’s note loans of EUR 73,000 thousand of the borrower’s note loans in the aggregate amount of EUR 128,000 thousand originally falling due in August 2013 were extended until September 2017. In addition, two further borrower’s note loans were placed; they amounted to EUR 137,000 thousand and EUR 90,000 thousand and mature in September 2017.

The borrower’s note loan of EUR 128,000 thousand falling due in August 2013 bears interest at 160 basis points above 3M Euribor. The partial amount of EUR 73,000 thousand extended until September 2017 bears interest at 170 basis points above 3M Euribor after its original maturity date. The borrower’s note loan of EUR 137,000 thousand falling due in September 2017 also bears interest at 170 basis points above 3M Euribor. The borrower’s note loan in the amount of EUR 90,000 thousand has a fixed interest rate of 2.725 percent.

In August 2010, the interest rate on the borrower’s note loan of EUR 128,000 thousand was fixed for the remaining term of three years using interest rate swaps. The weighted average interest rate is 2.89 percent.

Liabilities to banks

The maturities of liabilities to banks are as follows:

(EUR thousand) 12/31/2012 12/31/2011 < 1 year 50,090 49,246 1 - 2 years 34,485 20,984 2 - 3 years 34,464 20,305 3 - 4 years 34,315 20,308 4 - 5 years 150,279 20,153 > 5 years 256 150,360 Total 303,889 281,356

The amounts falling due in the next 4 years are related primarily to the amortizable loans from Kreditanstalt für Wiederaufbau (KfW). The amount due after 4 years is the loan of EUR 150,000 thousand from the European Investment Bank (EIB). This loan bears interest based on 3M Euribor plus a premium that is dependent on the GEA Group rating. For a partial amount of EUR 50,000 thousand, interest was fixed for the full term using two interest rate swaps. The weighted average interest rate is 3.29 percent. None of the credit lines drawn down are secured. GEA Group has undertaken in the loan agreements to comply with a certain covenant. Compliance with the covenant must be reviewed at the end of each quarter. The covenant was met as of December 31, 2012.

Transaction costs for the unused syndicated credit line (club deal) are allocated on a straight-line basis over the term.

Other liabilities to banks in the eurozone bore interest rates of between 0.5 percent and 4.6 percent, depending on their maturity and financing purpose (previous year: between 1.0 percent and 4.6 percent). The group additionally had foreign currency liabilities in Indian rupees and Brazilian real that also bear standard market interest rates in those countries of around 12.0 percent (previous year: 13.0 percent) and 12.0 percent (previous year: 15.0 percent), respectively.

Liabilities to banks totaling EUR 83 thousand (previous year: EUR 846 thousand) were secured.

Cash credit and guarantee credit lines

Including the borrower’s note loans and the syndicated credit lines, the group had cash credit lines of EUR 1,845,745 thousand as of December 31, 2012 (previous year: EUR 1,702,688 thousand). Of this amount, cash credit lines of EUR 776.712 thousand (previous year: EUR 883,474 thousand) are unutilized (see section 3). In addition, guarantee credit lines for the performance of contracts, advance payments, and warranty obligations of EUR 1,898,285 thousand were available (previous year: EUR 2,069,717 thousand), EUR 1,148,503 thousand of which has not been utilized (previous year: EUR 1,322,080 thousand).

Liabilities under finance leases

The following table shows a breakdown of future payments under finance leases:

Minimum lease payments Interest

Present value of minimum lease payments (EUR thousand) 12/31/2012 12/31/2011 12/31/2012 12/31/2011 12/31/2012 12/31/2011

Not later than one year 5,116 4,523 981 331 4,135 4,192

Between one and five years 20,225 19,875 5,351 4,924 14,874 14,951 Later than five years 64,165 73,235 40,549 48,214 23,616 25,021

Total future payments under finance leases 89,506 97,633 46,881 53,469 42,625 44,164

Liabilities under finance leases relate mainly to land and buildings. The present value of minimum lease payments as of December 31, 2012, relating to leases for land and buildings amounted to EUR 40,043 thousand (previous year: EUR 42,462 thousand).

As the interest rates used in leases are constant, the fair value of lease liabilities may be exposed to interest rate risk. All leases comprise contractually agreed payments.

Liabilities under finance leases are effectively secured because the rights to the leased asset revert to the lessor if the terms and conditions of the lease are breached.

Derivative financial instruments

Derivative financial instruments are explained in section 7.8.

7.5

Trade payables

Trade payables were as follows as of December 31, 2012:

(EUR thousand) 12/31/2012 12/31/2011

Trade payables 839,143 903,334

of which to unconsolidated companies 4,794 6,739

Trade payables of EUR 824,924 thousand (previous year: EUR 890,631 thousand) are due within one year. The balance of EUR 14.219 thousand (previous year: EUR 12,703 thousand) is due after more than one year.

Trade payables in the amount of EUR 49,919 thousand (previous year: EUR 45,303 thousand) are secured.

7.6

Income tax liabilities

Income tax liabilities relate to current taxes and amounted to EUR 39,912 thousand at the reporting date (previous year: EUR 51,525 thousand).