GESCO AG: Dividend proposal and preliminary figures for financial year 2014/2015

Gesco AG  / Key word(s): Dividend/Preliminary Results

02.06.2015 13:44

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Wuppertal, 2 June 2015 - GESCO AG most recently forecasted Group sales of
between EUR 455 million and EUR 460 million and Group net income after
minority interest of between EUR 14.5 million and EUR 15.0 million for
financial year 2014/2015 (1 April 2014 to 31 March 2015). Immediately prior
to the finalisation of the financial statements it became apparent that the
restructuring measures at subsidiaries MAE Maschinen- und Apparatebau
Götzen GmbH and Protomaster GmbH continue to weigh down on Group earnings
more than expected. This development will have to be taken into account in
both the consolidated financial statements and the individual financial
statements of GESCO AG for financial year 2014/2015. In consideration of
these factors, Group net income after minority interest for financial year
2014/2015 amounts to approximately EUR 12.4 million based on preliminary
and unaudited figures. Group sales come in at EUR 451 million.

Based on these preliminary figures, the Executive Board expects a dividend
proposal of EUR 1.75 per share; EUR 2.20 per share had been distributed in
the previous year.

The company expects a rise in sales in financial year 2015/2016 (1 April
2015 to 31 March 2016). As things stand, Group net income after minority
interest is likely to rise compared to financial year 2014/2015, but still
fall significantly short of previous years' figures. The reasons for the
subdued earnings development include restructuring measures at the two
subsidiaries and weak demand from Eastern Europe for agricultural
technology, which continues to negatively impact the development of our
subsidiary Frank Walz- und Schmiedetechnik GmbH. Low energy prices may be
benefitting overall economic development, but they are also leading to a
decline in demand from oil industry customers at SVT GmbH.

The financial statements for financial year 2014/2015 as well as a definite
outlook for the new financial year 2015/2016 will be released at the annual
accounts press conference on 25 June 2015.

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Language:     English
Company:      Gesco AG
              Johannisberg 7
              42103 Wuppertal
Phone:        +49 (0)202 248200
Fax:          +49 (0)202 2482049
ISIN:         DE000A1K0201
WKN:          A1K020  
Indices:      SDAX
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated
              Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
              Munich, Stuttgart
End of Announcement                             DGAP News-Service