PRESS RELEASE : GESCO AG publishes preliminary figures for financial year 2020 - largest-ever portfolio restructuring has positive impact

DGAP-News: Gesco AG / Key word(s): Preliminary Results 
GESCO AG publishes preliminary figures for financial year 2020 - largest-ever portfolio restructuring has positive 
impact 
2021-03-26 / 16:21 
The issuer is solely responsible for the content of this announcement. 
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GESCO AG publishes preliminary figures for financial year 2020 - largest-ever portfolio restructuring has positive 
impact 
- Sales target achieved at EUR 397.2 million (continuing operations) 
- Earnings better than forecast at EUR 5.8 million (continuing operations) 
- Overall result negative as expected following impairment 
- Dividend suspended for financial year 2020 
- Net debt reduced significantly by EUR 69.5 million 
Wuppertal, 26 March 2021 - GESCO AG, a Prime Standard-listed company, achieved its expectations for continuing 
operations in terms of sales and exceeded them in terms of earnings in financial year 2020 (1 January 2020 to 31 
December 2020), according to preliminary and as yet unaudited figures. The company's expectations were most recently 
substantiated in December 2020. 
Following the successful sale of a group of six subsidiaries and the closure of the Mobility Technology segment as part 
of the NEXT LEVEL strategy, GESCO adjusted its outlook for continuing operations for financial year 2020 in December 
2020 to forecast Group sales of roughly EUR 400 million and net income for the year after minority interest of around EUR 5 
million. 
The Group sales for continuing operations in the amount of EUR 397.2 million stood in contrast to Group sales for 
continuing operations of EUR 354.8 million in the nine-month abbreviated financial year 2019 (AFY 2019). Including 
discontinued operations, Group sales totalled EUR 495.2 million (AFY 2019: EUR 439.6 million). The continuing business 
operations generated net income for the year after minority interest of EUR 5.8 million in the financial year. In the 
nine-month abbreviated financial year 2019, that same figure stood at EUR 14.5 million. Earnings per share from 
continuing business operations accordingly amounted to EUR 0.54 (AFY 2019: EUR 1.34). 
After minority interest, Group sales including discontinued operations stood at EUR -16.6 million in total (AFY 2019: EUR 
12.4 million). Of that amount, EUR 17.6 million were attributable to non-cash expenditure for impairment and valuation 
allowances for financial assets. Earnings per share from continuing and discontinued operations amounted to EUR -1.53 in 
total (AFY 2019: EUR 1.14). 
The Group's net debt improved significantly from EUR 102.9 million to EUR 33.4 million, thanks in particular to the 
successful portfolio restructuring efforts. In addition, provisions for pension obligations and lease liabilities fell 
by EUR 15.9 million. 
Given the negative result on the whole in financial year 2020, the Executive Board and Supervisory Board have decided 
to suspend the dividend payment for financial year 2020. The decision was made in consideration of the current dividend 
strategy of distributing between 20 % and 60 % of net income for the year and also serves to maintain liquid reserves 
in light of the NEXT LEVEL strategy. In 2020, GESCO paid out a dividend of 23 cents per share for the nine-month 
abbreviated financial year 2019 despite the uncertainties associated with the coronavirus pandemic. 
The company will publish the financial statements for financial year 2020 and a detailed outlook for the new financial 
year 2021 on its website at https://www.gesco.de/en/investor-relations/financial-reports/ on 27 April 2021 as part of 
the virtual annual accounts press conference. 
About GESCO 
GESCO AG is an industrial group made up of market and technology leading companies in the capital goods industry. Its 
focus is on production process technology, resource technology and healthcare and infrastructure technology. As a stock 
company listed in the Prime Standard, GESCO AG offers private and institutional investors access to a portfolio of 
hidden champions among Germany's industrial SMEs. 
Contact 
Julia Pschribülla 
Head of Investor Relations & Communications 
Tel [phone] 
Fax [phone] 
E-mail: [e-mail], [e-mail] 
Internet: www.gesco.de 
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2021-03-26 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
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Language:     English 
Company:      Gesco AG 
              Johannisberg 7 
              42103 Wuppertal 
              Germany 
Phone:        [phone] 
Fax:          [phone] 
E-mail:       [e-mail] 
Internet:     www.gesco.de 
ISIN:         DE000A1K0201 
WKN:          A1K020 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
              Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange 
EQS News ID:  1178865 
 
End of News   DGAP News Service 
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1178865 2021-03-26

(END) Dow Jones Newswires

March 26, 2021 11:23 ET (15:23 GMT)