EQS-News: GESCO SE
/ Key word(s): Quarterly / Interim Statement/Quarter Results
GESCO SE publishes 3-month report 2024
10.05.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
Cautious start to 2024 as expected
Slight upturn in incoming orders
Forecast for the 2024 financial year confirmed
Prime Standard-listed GESCO SE, an industrial group of medium-sized market and technology leaders, today published its 3-month report 2024.
The current development of business figures is characterised by the recessionary trends in Germany and particularly in the mechanical engineering sector and the continuing instability of the global situation. The demand situation at our subsidiaries is mixed. While some subsidiaries continue to be confronted with low demand, others are already showing signs of stabilisation and, in some cases, a slight improvement.
After the first quarter of 2024 developed cautiously as expected and there is currently only a moderate upturn, we continue to expect economic activity to pick up in the second half of the year. In addition to the corresponding forecasts from economic institutes and industry experts, our order intake is also slowly picking up. In the reporting period, it was higher than sales in all segments and was 14.5% higher than sales for the Group as a whole.
The forecast for the 2024 financial year therefore remains unchanged: The Executive Board anticipates an increase in sales to € 570 - 590 million (2023: € 561 million) and Group earnings (after minority interests) of € 26 - 28 million (2023: € 20.9 million).
The full 3-month report 2024 is available at www.gesco.de/en/investor-relations/financial-reports.
Key figures of the GESCO Group (IFRS)
in
01/01/2024 – 03/31/2024
01/01/2023 – 03/31/2023
Change (in %)
Incoming orders
T€
142,293
157,500
-9.70%
Turnover
T€
124,297
147,270
-15.60%
EBITDA
T€
8,555
15,824
-45.90%
EBIT
T€
4,037
11,530
-65.00%
EBIT margin (in %)
%
3.20%
7.80%
-458 bp
EBT
T€
2,901
10,719
-72.90%
Consolidated net income 1)
T€
1,786
6,730
-73.50%
Earnings per share (in €)
€
0.16
0.62
-74.20%
Closing price (in €) 2)
€
17.45
26.4
-33.90%
Employees3)
Number
1,877
1,890
-0.70%
1) After minority interests2) XETRA closing price on the balance sheet date3) Number on the balance sheet date
About GESCO:
GESCO SE is an industrial group with market- and technology-leading companies in the capital goods industry specialising in process, resource, healthcare and infrastructure technology. As a Prime Standard-listed company, GESCO SE gives private and institutional investors access to a portfolio of hidden champions in the industrial SME sector.
10.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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Language:
English
Company:
GESCO SE
Johannisberg 7
42103 Wuppertal
Germany
Phone:
+49 (0)202 24820 18
Fax:
+49 (0)202 2482049
E-mail:
ir@gesco.de
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
Gesco AG is a Germany-based investment company that acquires industrial small and medium-sized enterprises (SMEs). The Company focuses on production process technology, resource technology, health, and infrastructure technology, as well as mobility technology, and operates as a long-term investor. It manages takeovers both through management buyouts (MBOs) and management buy-ins (MBI), and through group spin-offs. It offers machines, production facilities, tools, components, and services from steelmaking to 3Dimension (3D) printing, from medical technology to special purpose mechanical engineering. The Company operates in Germany and its subsidiaries include, among others, Astroplast Kunststofftechnick Gmbh & Co KG, Franz Funke Zerspanungstechnik GmbH & Co KG, Doemer GmbH & Co KG Stanz- und Umformtechnologie, Doerrenberg Edelstahl GmbH, MAE Group, SVT GmbH, Frank Group and Setter Group.