...More Stable Business Profile: The Heat Exchanger (HX) disposal in 2014 significantly improved GEA Group Aktiengesellschaft`s business profile by reducing its exposure to the fragmented and competitive HX end-markets and increasing exposure to stable food and beverage markets to 72% of revenues from 43% in 2009. Fitch Ratings expects GEA's acquisition strategy to further improve its business profile, as it builds its portfolio around stable businesses. GEA's business profile is supported by strong positions in niche mechanical-engineering markets, geographical diversification and revenue exposure to stable food and beverage end- markets and high-growth emerging markets. Growing Service Business: The business profile is further supported by management's ambition to increase the contribution from its high-margin, stability-enhancing service business towards 30% of group revenues from 27% currently. The group has successfully increased its service business by around 10% annually between 2009...
