GESCO's earnings 2016/2017 exceed guidance, dividend proposal EUR 0.35 per share
Wuppertal, 24 May 2017 - Prime Standard listed GESCO AG has exceed its earnings guidance and met its sales target for financial year 2016/2017 (01.04.2016 - 31.03.2017) according to unaudited figures.
Since operating business in the fourth quarter turned out better than expected, Group net income after minority interest reached approximately EUR 7.9 million and exceeded the most recent guidance from February 2017 of between EUR 6 million and EUR 7 million. Group sales came in at approximately EUR 482 million which corresponds to the level of the recent outlook of EUR 480 million. In the previous financial year group sales had reached EUR 494 million and Group net income after minority interest EUR 16.1 million. As explained in the ad-hoc notification from 2 February 2017, the decrease of earnings compared to the previous year is mainly attributable to one-off effects in connection with the intended disposal of Protomaster GmbH.
For the new financial year 2017/2018 (01.04.2017 - 31.03.2018) the company expects increasing sales and a disproportionately higher growth in earnings. The financial statements for financial year 2016/2017 as well as a definite outlook for the new financial year 2017/2018 will be published at the annual accounts press conference on 29 June 2017.
Based on these preliminary figures, the Executive Board expects a dividend proposal of EUR 0.35 per share to the Annual General Meeting on 31 August 2017 (previous financial year EUR 0.67 per share, adjusted to the higher number of shares due to the share split 1:3 from December 2016). With respect to the company's longtime dividend policy, which is based on a payout ratio of approximately 40 % of Group net income after minority interest, with rising earnings the Executive Board expects an increasing dividend for the new financial year 2017/2018
About GESCO GESCO AG is an industrial group with market and technology leaders in the investment goods industry focusing on production process technology, resource technology, health and infrastructure technology as well as mobility technology. As a stock listed company on the Prime Standard, GESCO AG offers private and institutional investors access to a portfolio of leading small and medium-sized industrial German companies, so-called hidden champions of Germany's Mittelstand.
Investor Relations, Oliver Vollbrecht Tel. +49 202 24820-18, Fax +49 202 24820-49 E-mail: firstname.lastname@example.org, Internet: www.gesco.de
24.05.2017 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.deLanguage: English
Company: Gesco AG Johannisberg 7 42103 Wuppertal
Germany Phone: +49 (0)202 248200 Fax: +49 (0)202 2482049 E-mail: email@example.com 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 End of News DGAP News Service