- Sales and net income reach new record highs - Dividend up from € 1.50 to € 2.42 - New financial year promising further growth
Wuppertal, 26 June 2008 – The SDAX listed investment holding company GESCO AG is reporting another record year at today’s Annual Accounts Press Conference and is expecting further growth in the new financial year. In the financial year 2007/2008 (1 April 2007 – 31 March 2008) GESCO Group was able to benefit from positive economic conditions above average and increased Group sales by 24% to € 333 million (previous year: € 268 million). EBIT (earnings before interest and taxes) was up considerably by 44 % to € 34 million (€ 24 million). Group net income after minority interests increased by 34% to € 17.9 million (€ 13.3 million), corresponding to earnings per share of € 5.92 (€ 4.83). Group headcount increased from 1,543 to 1,713 employees, which can mainly be attributed to the acquisition of VWH Vorrichtungs- und Werkzeugbau Herschbach GmbH in April 2007, as well as new hires in existing companies in the Group. On the back of this dynamic development the Executive Board and the Supervisory Board are going to be proposing a basic dividend of € 2.20 per share as well as a 10% bonus of € 0.22 per share to the AGM on 21 August 2008 to mark the 10 year anniversary of the company’s IPO. The total dividend amounts to € 2.42 per share compared to € 1.50 per share in the previous year. GESCO AG is also positive about the development in the new financial year 2008/2009 (1 April 2008 – 31 March 2009). Management is expecting Group sales to increase by around 11 % to € 370 million and a rise in Group net income after minority interests of around 20 % to € 21.5 million or € 7.11 per share. The tax reform is a contributing factor to the increase in income to a certain degree. GESCO Executive Board member Dr. Hans-Gert Mayrose on the figures reported and on plans: “GESCO Group is in excellent shape. The fact that we have been able to tap into the momentum of economic conditions can be attributed to the substantial investments we made in the past as well as the performance and skill of our employees. The Group started into the new financial year with unbroken momentum which makes us expect another record year.” Read the full Annual Report here.