GESCO continues dynamic trend

  • positive business development continues
  • overproportional increase in earnings
  • nine-month figures confirm forecast for year as a whole

Wuppertal, 15 February 2006 – Prime Standard-listed holding company, GESCO AG, has continued its positive development in the third quarter. The figures for the nine-month period (01.04.-31.12.2005) confirm the forecast, last revised upwards in December 2005, for the whole of financial year 2005/2006.

Incoming orders for the GESCO Group in the first nine months stood at EUR 184.9 million, up 25.7% on the previous year. Group sales grew by 22.8% to EUR 171.9 million. Key earnings figures increased at a significantly higher rate than sales. EBITDA (earnings before interest, tax, depreciation and amortisation) rose by 29.8% to EUR 18.9 million and EBIT, by 48.0% to EUR 13.6 million. At EUR 6.7 million, Group net income increased by 49.3% on the year. Despite an increase in the number of shares to 2,749,000, earnings per share stood at EUR 2.44, representing an increase of 36.3% from the previous year’s value, which was based on 2,500,000 shares.

For the first time, the total staff complement of 1,326 (previous year: 1,229) includes employees of the Dömer Group which was acquired in August 2005. The staff complement in the individual companies remains virtually unchanged year-on-year.

The forecast for the year as a whole was revised upwards in November 2005 and again in December 2005. This increased forecast of EUR 229 million for sales, EUR 8.9 million for Group net income and earnings per share of around EUR 3.24 has been confirmed by the nine-month figures.

The annual financial statements for financial year 2005/2006 will be presented at the accounts press conference on 29 June 2006.