Wuppertal, 28 June 2007 – The Prime Standard listed holding company GESCO AG is looking back on another record year at today’s accounts press conference and is also optimistic for the new financial year.
Against the background of a generally dynamic economy, the GESCO Group recorded sales growth of 14.4 % to EUR 268.1 million (previous year EUR 234.3 million) in financial year 2006/2007 (01.04.2006 - 31.03.2007). Earnings before interest and tax (EBIT), which climbed 26.3 % to EUR 23.7 million (previous year EUR 18.8 million), increased at a disproportionately rapid pace. One-off earnings from the sale of an investment worth EUR 2.6 million produced an even sharper rise in Group net income for the year after minority interests of 42.8 % to EUR 13.3 million (previous year EUR 9.3 million). Earnings per share in accordance with IFRS totalled EUR 4.83 (previous year EUR 3.54). Adjusted by the one-off earnings, Group net income for the year amounted to EUR 10.7 million and earnings per share to EUR 3.89.
The workforce increased from 1,329 to 1,543 employees. This addition includes approximately 200 employees from the Frank Group, Hatzfeld, which was acquired in July 2006.
In view of the record figures, the Executive Board and Supervisory Board will propose a dividend increase of 20 % to EUR 1.50 per share (previous year EUR 1.25) at the Annual General Meeting on 23 August 2007.
The GESCO Group launched into the new financial year 2007/2008 (01.04.2007 - 31.03.2008) with full order books. The Executive Board anticipates sales of approximately EUR 310 million, Group net income for the year after minority interests of around EUR 12.5 million and earnings per share of EUR 4.13. These figures include eight months of figures for VWH Vorrichtungs- und Werkzeugbau Herschbach GmbH, which was already acquired at the start of the financial year.
GESCO Executive Board member Dr Hans-Gert Mayrose commented: “The GESCO Group has seen a clear upward trend since financial year 2003/2004. This positive trend is now entering its fifth year. Most of our companies launched into the new financial year with full order books.