GESCO strengthens balance sheet during the recession and expects growth


Wuppertal, 29 June 2010 – The SDAX listed investment holding company GESCO AG can look back on Group sales of € 277.7 million (previous year: € 378.4 million) and Group net income after minority interest of 
€ 8.9 million (previous year: € 21.6 million) as well as earnings per share according to IFRS of € 2.95 (previous year: € 7.16) in financial year 2009/2010. These figures fell within the forecast published in June 2009.

GESCO Group closed the crisis year with an exceptionally strong balance sheet. The equity ratio now amounts to 42.7 %, liquid assets to 
€ 26.9 million and the debt ratio is comfortably low with a ratio between net liabilities to banks and EBITDA of 1.7. In addition, goodwill poses just a small risk to the company’s finances, as it totals only 6.4 % of equity.

In view of the improved economic situation, the company is forecasting Group sales between € 290 million and € 320 million and Group net income after minority interest of between € 9 million and € 11 million, corresponding to earnings per share according to IFRS between € 2.98 and € 3.64, for the new financial year 2010/2011 (1 April 2010 – 31 March 2011).

Business livened up considerably in the first quarter of financial year 2010/2011, which comprises the operating months January to March of the Group’s subsidiaries. Incoming orders came to € 87.8 million, up 
42.9 % on the same quarter in the previous year (€ 61.4 million), and with € 76.8 million, sales were 4.3 % higher than in the previous year 
(€ 73.6 million).

The company will discuss its financial statements for 2009/2010 and forecast for financial year 2010/2011 at the accounts press conference and analysts’ meeting on 29 June 2010.

The detailed press release and the Annual Report 2009/2010 will be available at from 29 June 2010, 8:30 hours (GMT+1).