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GE Vernova(GEV)2025年第三季度财务业绩演示报告「NYSE」(英文版)(39页).pdf

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1、13Q25 Webcast 2025 GE Vernova and/or its affiliates.All rights reserved.GE and the GE Monogram are trademarks of General Electric Company used under trademark licenseOctober 22,2025Caution concerning forward-looking statements:Certain statements contained in this presentation may constitute“forward-

2、looking statements”that involve risks and uncertainties.These statements by their nature address matters that are uncertain to different degrees.Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly rela

3、te to any historical or current fact.Words such as“anticipates,”“believes,”“will,”“expects,”“estimates,”“intends,”“guidance,”“plans,”“projects,”and similar expressions,may identify such forward-looking statements.Any forward-looking statement in this presentation,including statements relating to our

4、 agreement to acquire Xignuxs 50%GE Prolec JV interest,the expected financing for that acquisition,expected synergies,prospects for the business,and our capital allocation strategy,speak only as of the date on which it is made.Although we believe that the forward-looking statements contained in this

5、 presentation are based on reasonable assumptions,you should be aware that many factors could affect our actual financial results,cash flows,or results of operations and could cause actual results to differ materially from those in such forward-looking statements.These factors may cause our actual f

6、uture results to be materially different than those expressed in our forward-looking statements,and are more fully discussed in our most recent Annual Report on Form 10-K and in any subsequent Quarterly Report on Form 10-Q of ours,including in the Risk Factors and Managements Discussion and Analysis

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1. **收购Prolec GE**:GE Vernova拟以52.75亿美元收购合资伙伴Xignux持有的Prolec GE 50%股权,预计2026年年中完成,资金来源为50%债务和50%现金。 2. **财务影响**:Prolec GE预计2026年为GE Vernova贡献6亿美元增量调整后EBITDA,2028年达8亿美元;目标实现6000万-1.2亿美元成本协同效应。 3. **业务增长**:2025年第三季度订单增长55%(146亿美元),收入增长10%(271亿美元);Electrification部门收入同比增长32%,调整后EBITDA利润率提升至15.1%。 4. **2025年指引**: reaffirmed营收360亿-370亿美元,调整后EBITDA利润率8%-9%,自由现金流30亿-35亿美元。 5. **资本分配**:承诺将至少1/3的现金回报股东,并通过战略投资和并购推动增长。
**Prolec收购前景?** **GEV增长动力何在?** **协同效应如何实现?**
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