GESCO AG confirms outlook after first half year


- Incoming orders and sales increase strongly
- Earnings grow above average
- Full year guidance confirmed


Wuppertal, 10 November 2008 – The SDAX listed investment holding company GESCO AG is reporting continuing dynamic operating business in the first half year (1 Apr. to 30 Sept. 2008) of the financial year 2008/2009 (1 Apr. 2008 to 31 Mar. 2009) and has confirmed its full year guidance.

Incoming orders increased by 21 % to € 218 million (previous period € 180 million). Sales also grew considerably by 16 % and amounted to € 193 million (€ 165 million). Key figures for operating earnings developed again better than sales: Earnings before interest, taxes, depreciation and amortisation (EBITDA) grew by 29 % from € 23 million to € 29 million and earnings before interest and taxes (EBIT) increased by 35 % to € 24 million (€ 18 million). Group net income after minority interests grew by 43 % and reached € 13.6 million (€ 9.5 million). This was also influenced by a lower tax bill in the wake of the tax reform. Earnings per share amounted to € 4.51 (€ 3.15).

The workforce increased by 3.8 %, up from 1,675 to 1,738 employees year-on-year.

At the accounts press conference on 26 June 2008, the company forecasted Group sales of € 370 million (previous year € 333 million) and Group net income after minority interests of € 21.5 million (€ 17.8 million) as well as earnings per share of € 7.11 (€ 5.92). Based on the figures for the first half year the company is confirming this guidance.

GESCO Executive Board member Dr. Hans-Gert Mayrose on the half year figures: “Given the extremely positive economic development in the first half of the year, based on current knowledge we believe that we have a good chance of comfortably achieving or exceeding the guidance in business operations. These opportunities stand in contrast to the high levels of uncertainty regarding general economic development. Considering these opportunities and risks, we are leaving the guidance at the level that we communicated at the accounts press conference.”

Read the full quarterly report here.

GESCO AG is the parent company of a group of small and medium-sized companies in the field of industrial Base Technologies. GESCO acquires successful niche providers, generally as part of succession arrangements, in order to retain and further develop these long term. As an SDAX listed company GESCO AG offers private and institutional investors access to SMEs.

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