GESCO exceeds its targets in financial year 2018/2019 and expects dividend increase of 50% to EUR 0.90 per share
Wuppertal, 14 May 2019 - According to preliminary, as yet unaudited figures, Prime Standard-listed GESCO AG exceeded the objectives for sales and earnings in financial year 2018/2019 (1 April 2018 to 31 March 2019) which had recently been updated in February 2019.
Group sales grew by 5.0 % from EUR 547.2 million to EUR 574.5 million. Taking into account the acquisition of Sommer & Strassburger GmbH & Co. KG in August 2018, the company had forecast Group sales of around EUR 570 million.
Group net income after minority interest reached EUR 26.6 million. The previous year's figure of EUR 16.1 million included a EUR 7.5 million burden from an antritrust case that has meanwhile been concluded. The company had forecast a figure of EUR 26 million or slightly less in organic terms less an effect of around EUR 0.5 million due to the acquisition of Sommer & Strassburger.
On the basis of these preliminary figures, the Executive Board expects that a dividend of EUR 0.90 per share for financial year 2018/2019 will be recommended to the Annual General Meeting, which will be held on 29 August 2019. That would put the dividend payout 50 % above the previous year's figure of EUR 0.60 per share.
The company will be publishing the financial statements for financial year 2018/2019 as well as a definite outlook for the new financial year 2019/2020 at the annual accounts press conference on 27 June 2019.
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, healthcare and infrastructure technology and mobility 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.
Investor Relations - Oliver Vollbrecht Tel. +49 (0) 202 24820-18 - Fax +49 (0) 202 24820-49 E-mail: email@example.com - Website: www.gesco.de
14.05.2019 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: firstname.lastname@example.org 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: 811151 End of News DGAP News Service