Principales problemas que ha tenido la ciudad-cuenca con el agua

5.1 Companies acquired

GEA Group acquired the following companies in fiscal year 2010:

Business Place Acquisition Date

Percentage of voting interest (%)

Consideration transferred (EUR thousand)

SKIOLD MULLERUP A/S Ullerslev/Danemark March 31st, 2010 100.0 5,357

Farmers Industries Limited Mount Maunga-nui/New Zealand September 13th, 2010 100.0 4,264 Air Pollution Control Division Thane/India September 15th, 2010 Asset Deal 1,653 Beijing Sino-German

Tianhe Technology Co. Ltd. Beijing/China November 10th, 2010 100.0 4,263

SKIOLD MULLERUP A/S and Farmers Industries Limited are allocated to the GEA Farm Technologies Segment. SKIOLD MULLERUP A/S is a leading producer of systems for automatic cow feeding and manure processing as well as of cow cubicles in Northern Europe. This acquisition allows the segment in particular to expand its product range, as well as its customer base. Farmers Industries Limited, New Zealand, specializes in developing, producing, and selling consumables in the milking industry. The acquisition strengthens the noncyclical consumables business and improves market access in New Zealand in particular.

The acquired activities of ACC Limited’s Air Pollution Control Division (APC) and Beijing Sino- German Tianhe Technology Co. Ltd. have been integrated into the GEA Process Engineering Segment. The Air Pollution Control Division previously supplied technology for waste gas dust extraction at the ACC Group’s cement plants and industrial power stations. The acquisition allows the segment to expand its activities in the field of emission control in India and Asian export markets. Beijing Sino-German Tianhe Technology Co. Ltd. is active in the field of spray drying for the pharmaceutical industry. The acquisition improves access to the Chinese market and reinforces the expansion of competitive production capacity.

5.2 Consideration paid

The consideration paid is composed of the following items:

Business (EUR thousand)Cash Contingent consideration(EUR thousand) (EUR thousand)Total

SKIOLD MULLERUP A/S 5,357 – 5,357

Farmers Industries Limited 4,264 – 4,264

Air Pollution Control Division 1,653 – 1,653

Beijing Sino-German

Tianhe Technology Co. Ltd. 931 3,332 4,263

Total 12,205 3,332 15,537

In connection with the acquisition of Beijing Sino-German Tianhe Technology Co. Ltd., GEA Group agreed to pay an additional amount of up to a maximum of EUR 3,503 thousand in the next four years, depending on the acquiree’s results. In light of the growth in the market for pharmaceutical spray drying in the emerging economies, the company believes that it is likely that this amount will be paid. The amount of EUR 3,332 thousand represents the fair value of

Notes to the Consolidated Financial Statements Acquisitions

the obligation at the acquisition date. The contingent purchase price obligation is presented in other financial liabilities and assigned to the “financial liabilities at amortized cost” category. GEA Group has granted the managing director and former co-owner of an acquired company a bonus in the event that he remains with the company for a further three years. The transaction has not been accounted for as part of the acquisition. The costs will be expensed ratably over the three-year period.

Acquisition-related costs amount to a total of EUR 1,020 thousand. They include fees for legal consultants, auditors, and other experts, and are expensed in the fiscal year and reported in other expenses in the income statement.

5.3 Assets and liabilities acquired

The following assets and liabilities were acquired with the four companies:

(EUR thousand) Fair value

Property, plant, and equipment 2,131

Intangible assets 7,156

Equity-accounted investments 62

Noncurrent assets 9,349

Inventories 4,326

Trade receivables 2,825

Income tax receivables 13

Other current financial assets 563

Cash and cash equivalents 511

Current assets 8,238

Total assets 17,587

Noncurrent financial liabilities 2,202

Other noncurrent liabilities 1,134

Deferred taxes 1,709

Noncurrent liabilities 5,045

Provisions 383

Employee benefits 30

Current financial liabilities 618

Trade payables 1,711

Other current financial liabilities 1,404

Current liabilities 4,146

Total liabilities 9,191

Net assets acquired 8,396

Acquisition cost 15,537

Goodwill 7,141

Notes to the Consolidated Financial Statements Acquisitions

The fair value of total receivables acquired – primarily trade receivables – amounts to EUR 2,913 thousand. The contractual principal amount of the receivables is EUR 2,956 thousand. It was assumed at the acquisition date that an amount of EUR 43 thousand was uncollectible. The goodwill of EUR 7,141 thousand arising from the acquisitions primarily comprises benefits from expected synergies and future market developments, as well as workforce expertise. EUR 83 thousand of the goodwill is tax-deductible.

5.4 Effects on consolidated profit

Since their acquisition, these companies have generated revenue of EUR 12,404 thousand and profit before tax of EUR 553 thousand. If the companies concerned had been acquired as of January 1, 2010, they would have recorded revenue of EUR 21,698 thousand and profit before tax of EUR 850 thousand.

5.5 Net cash outflow

The acquisitions in fiscal year 2010 led to the following net cash outflow:

(EUR thousand) 2010 2009

Consideration transferred 15,537 28,996

Acquisition-related costs 593 1,219

less contingent consideration -3,332 -5,017

Purchase price paid including acquisition-related costs 12,798 25,198

less cash acquired -511 -539

Net cash used in acquisition 12,287 24,659

Payments to acquire subsidiaries and other businesses totaling EUR 12,145 thousand (previous year: EUR 23,498 thousand) are reported in the cash flow statement. These include payments for contingent purchase price components amounting to EUR 291 thousand (previous year: EUR 3,164 thousand) as well as cash inflows from previously unconsolidated subsidiaries amounting to EUR 20 thousand (previous year: EUR 4,325 thousand). There is also a purchase price payment of EUR 413 thousand (previous year: EUR 0 thousand) that was due but unpaid at the reporting date. This payment is not included in the cash flow statement.

Notes to the Consolidated Financial Statements Acquisitions

6. Consolidated balance sheet disclosures: