GESCO Annual General Meeting: Executive Board confirms positive outlook


Wuppertal, 2 September 2010 – Today’s Annual General Meeting of GESCO AG has approved a dividend of € 1.30 per share for the past financial year 2009/2010. The year of the recession was clearly profitable for the Group which achieved Group net income after minority interest of € 8.9 million.

During the Annual General Meeting, the Executive Board confirmed plans for the current 2010/2011 financial year (1 April 2010-31 March 2011) which had been published in June 2010. The Group is anticipating Group sales between € 290 and 320 million and Group net income after minority interest of € 9 to 11 million. Already in its report for the first quarter on 12 August, 2010, GESCO AG had pointed out the surge in incoming orders and a continuation of this positive development in the second quarter.

Points on the agenda of today's Annual General Meeting included authorisation to buy back own shares, approving the new system of Executive Board remuneration and electing new members to the Supervisory Board. All agenda points were adopted as proposed with vast majority. Mr. Willi Back, Mr. Klaus Möllerfriedrich and Mr. Rolf-Peter Rosenthal were confirmed as members of the Supervisory Board